4sight Health March 27, 2024
About this time last year, I wrote about record profit margins that hospitals posted in 2021, according to data from the Medicare Payment Advisory Commission’s (MedPAC) annual March report to Congress. At the end of that blog post, I said hospital lobbyists will tell us that things were different in 2022, and that I’d look at this year’s MedPAC report to find out.
I did, and the hospital lobbyists were right. Hospital profitability crashed in 2022, according to MedPAC’s March 2024 report.
Here’s the ugly financial news:
- Hospitals’ all-payer operating profit margin plummeted to 2.7% in 2022 from a record 8.8% in 2021. That included about $9 billion in COVID-19 relief funds in 2022 compared with $18 billion in...
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