HealthExec August 2, 2024
The American healthcare system faces a precarious future, heavily influenced by an escalating staffing shortage that began before the COVID-19 pandemic, but has since intensified. Bharath Krishnamurthy, the director of health policy and analytics at the American Hospital Association (AHA), spoke with Health Exec to sheds light on the financial and operational challenges hospitals are facing due to problems maintaining staffing levels and the related rising costs.
“What’s interesting is that labor costs on average account for about 60% of a hospital’s budget, so the increasing costs for labor are particularly impactful to hospitals’ overall financial health. And what we’ve seen is that between 2021 and 2023, labor costs increased by $42.5 billion for hospitals. It’s harder and harder for...
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