June 08, 2022
U.S. hospitals faced considerable financial pressures during April, with plummeting patient volumes and revenues and expenses remaining high.
Hospitals are working to stabilize operations following the winter Omicron surge and the recent spike in COVID-19 cases, according to Kaufman Hall’s latest national flash report. The complexity of patient care has offered another layer to these challenges, said Erik Swanson, a senior vice president of data and analytics with Kaufman Hall.
“Hospital patients in 2022 are likely sicker, harder to discharge, and more expensive to treat than hospital patients in 2021,” Swanson said. “Fewer patients who are sicker and more expensive weigh heavily on hospitals’ operating margins, putting a strain on both expenses and revenue.”
Among the notable takeaways:
Notably, total labor expenses were down 4.2 percent from March to April but were up 11.1 percent year-over-year and 26.2 percent compared to 2020 levels.
Kaufman Hall’s monthly flash report draws on data from more than 900 hospitals. The report is available to review online.
HAP continues to advocate for additional resources and support for Pennsylvania’s hospitals as they respond to COVID-19 and maintain their routine operations. As part of this effort, HAP recently sent a letter to Pennsylvania’s Congressional delegation urging lawmakers to provide relief from Medicare cuts that threaten their ability to care for patients.
Read the letter online.
Tags: Federal Advocacy
Click on topic below for category-specific news articles.
Support a healthier Pennsylvania.