During past recessions, the healthcare sector remained relatively immune to economic downswings — but things are different now that a sweeping labor shortage and lower patient volumes have been added to the mix.
Hospital finances worsened in July as volumes dropped, according to a new report. Following four months of growth, hospitals' median year-to-date operating margin index fell 1.3%, down from 1.4% in June. Hospital finances still remained in a better place than they were last year, given hospitals’ median operating margins were -0.98% in July 2022.
When it comes to managing inbound phone calls, underperformance has devastating cost implications.
HCA and Tenet reported net incomes for the second quarter, while CHS posted a net loss. All three health systems found themselves in a better financial position in Q2 2023 than they were in Q2 of last year, driven in large part by declining contract labor expenses.
Northwell Health recently adopted a new system to help it better manage its contingent labor expenses — the New York-based health system is implementing Prolucent Health’s workforce platform across its 21 hospitals.
Providers must report how they spent funding received via the CARES Act by Sept. 30, but they are still grappling with questions related to what expenses need to be reported amid shifting government guidance.
Hospital revenues and volumes are on an upswing, but growing expenses are still offsetting gains in these areas, especially as cases caused by the Delta Covid-19 variant continue to rise.
Join us on February 26 at 3 pm ET, and we’ll dive into the key areas where practices are losing time and money and provide solutions to overcome them.
Hospital operating margins increased from January to March, but are still narrow, leaving hospitals in a financially vulnerable state, a new report from Kaufman Hall shows. In addition, volumes are still down and expenses continue to rise.
Healthcare is becoming increasingly unaffordable, with 18% of Americans saying in a new survey that they would not be able to afford the care they need. Respondents also reported cutting back on other expenses to afford healthcare, including money spent on food and utilities.
A new report from Kaufman Hall examines two potential financial situations for hospitals in 2021 — one optimistic, and the other bleak. Hospitals could lose between $53 billion and $122 billion depending on which scenario plays out.
The financial futures of U.S. hospitals remain shaky, as Covid-19 cases and hospitalizations surge with alarming speed nationwide. Though vaccines are being distributed, the coming months will be challenging for hospitals, a new report from Kaufman Hall shows.
A new report from Relatient, A Data-Driven Guide to Patient Access Succes, highlights how focusing on data accuracy and relevance can enhance the performance of healthcare practices.
Hospitals and physician practices are struggling to regain firm financial footing, and though there have been some recoveries, the landscape continues to be uncertain for these entities, according to reports from healthcare consultancy Kaufman Hall.