American Hospital Association May 13, 2022
After two years on the frontlines in the battle against this pandemic, hospitals and health systems have seen a dramatic rise in costs of labor, drugs, supplies and equipment. All of this, which comes on top of the impact of skyrocketing economy-wide inflation that is at a 40-year high, continues to put enormous pressure on our ability to provide care.
Labor expenses, which account for more than 50% of hospitals’ total expenses, per patient increased 19% through 2021 compared to 2019 levels. And, average hospital drug expenses by the end of 2021 were 28% higher than pre-pandemic levels and 37% higher per patient. In addition, people put off care during the pandemic, coming to the hospital sicker and requiring more...
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