Budgeting
Moody's released the report prior to the Feds raising the interest rate by a quarter point yesterday.
The organization attributes this strong financial performance to the positive performance of its insurance business units.
Relying on labor from contract staffing firms contributed to higher overall labor expenses, according to the American Hospital Association.
Rising expenses for labor, drugs, and medical supplies are major drivers of the expense increase.
By the end of 2021, gross margins per enrollee had returned to pre-pandemic levels in the Medicare Advantage market.
CEO Andrew Toy says the company is achieving "real momentum" toward profitability, and has priced its insurance plans with that in mind.
Patient volumes, ER visits, discharges and total revenues were down in January compared to December 2022.
Capacity crisis, cost inflation and workforce vacancies continue to impact financial performance.
The increase in total revenues was driven by organic Medicaid growth and a 21% membership growth in Medicare, company says.
Healthcare facilities across the state saw a 79% decline in median operating margins from 2019 to 2022.