Advisory Board September 6, 2022
Many hospitals throughout the country are cutting back on services due to staff shortages, leading them to become “much more deliberate and nuanced about providing the right level of care in the right location,” Ginger Christ reports for Modern Healthcare’s “Transformation Hub.”
A difficult financial year for hospitals
According to research from the health care consultancy Kaufman Hall, 2022 has been the worst financial year for hospitals since the pandemic, with national operating margins at -0.98% in July, marking the seventh negative month in a row. In addition, the median change in operating margins compared to last year was -63.9%, Kaufman Hall found.
These losses have come from a combination of decreasing patient demand, the cost of hiring travel workers, and the end of...