Increased expenses, especially labor, impacting hospital margins

Gist Healthcare October 27, 2023
Gist Healthcare

Workforce shortages, supply chain disruptions, expensive new drugs, and high inflation have all greatly increased hospitals’ expenses. These rising costs are the top cause of the tenuous state of hospital margins today. As shown in the graphic below, all major hospital operating expense categories have increased by at least 20 percent in 2023 as compared to 2020 spending levels. While some expense trends are tied to the greater economy and could fall as inflation abates, higher labor costs are more likely to persist...

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