Budgeting
Despite an end-of-year upswing, about half of U.S. hospitals finished 2022 with a negative margin, data shows.
While the profit decline was significant, Elevance maintains that the numbers still beat expectations from Wall Street.
Operating margins have been hit hard over the past year due to cost inflation, particularly staffing, finds Fitch.
Reining in the 20-25% of revenue that goes to nonmedical spend could save hospitals millions, says Brain White of LogicSource.
Almost 70% of those surveyed believe they can't afford health insurance, or think it's simply too expensive.
While labor expenses decreased somewhat, margins remained depressed throughout the year.
Hospital leaders can use digital transformation to cut costs, improve processes and gain efficiencies, says Tina Wheeler of Deloitte.
Employers projected a higher average increase for next year, and they should prepare for continued accelerated cost growth.
The authors framed coding practices as one element of an ongoing "tug-of-war" between payers and providers.
Total expenses are cumulatively 20% above pre-pandemic levels.