Based on the data in the 2021“China Health Statistical Yearbook”，this article compared and analyzed the economic operation of private hospitals before and after the outbreak of COVID ? 19，in order to provide reference and guidance for stable economic operation and high ?quality hospital development under the normalization of epidemic prevention and control. In 2020，the volume of outpatient and inpatient services in private hospitals decreased by 6.9% and 4.8%，respectively，and the medical income only increased by 4.4%. The service volume and the medical income were sharply reduced. The asset?liability ratio and net asset?liability ratio increased to 63.9% and 177.2%，respectively，while the scale of liabilities was further expanded，and the pressure on economic operation increased sharply. Financial allocations increased by 59.2% ， personnel expenditure decreased by 16.6%，while the balance ratio of revenue and expenditure reached the highest value in recent years at 7.8%，with significant growth in the balance of income and expenditure. Based on this，in the stage of normalized prevention and control of the epidemic，it is recommended that the government further clarify the service function positioning of private hospitals，and support the development of private hospitals by increasing financial，investment，implementing preferential policies，and optimizing financing policies. It is also recommended that private hospitals gradually integrate into the prevention and control of major infectious diseases，form scale effects，and achieve sustainable and healthy development through the chain operations.