Sending Hospitals Into Bankruptcy

The lockdowns are doing great unintended harm to medical providers.

Wonder Land: Surgeon General Jerome Adams was right: This virus is our Pearl Harbor, a catastrophic failure. Images: AFP/Getty Images Composite: Mark Kelly

Public-health officials have directed Americans to stay home to slow the coronavirus spread and ease the burden on health-care providers. Most areas of the country are succeeding—so much so that hospitals and physicians are hemorrhaging cash due to declining demand for care.

The Centers for Disease Control and Prevention last month recommended that health-care providers postpone “elective” procedures to free up capacity and conserve protective equipment for treating coronavirus patients. Governors have likewise ordered providers...