Healthcare Innovation November 14, 2024
The latest Kaufman Hall report finds labor costs hampering financial progress
As Kaufman Hall’s leaders said in a press release posted to the company’s website, “Hospital and health systems’ finances have remained stable in the last 12 months, but high labor costs continue to challenge the bottom line. That is a key finding of Kaufman Hall’s latest National Hospital Flash Report, with data through September, and Physician Flash Report, with data for the third quarter of 2024. Labor expenses from physicians and other providers accounted for the vast majority (84%) of medical groups’ total expenses, according to the Physician Flash Report. The median investment, or subsidy, per employed physician was $304,312, while provider and physician compensation per full-time employee each...
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