Hospital expenses, particularly for labor, continue to be high amid widespread staffing shortages. However, even as hospitals struggle to attract and retain staff, some are cutting jobs as their economic conditions continue to worsen, the Advisory Board reports.
According to a new Syntellis report, hospital margins rose year-over-year (YOY) in January by 3.7 percentage points, the first increase YOY since December 2021. Gross operating revenue has also increased 10.1% YOY, largely due to an 18.7% increase in outpatient revenue.
However, hospital expenses, particularly for labor, continue to be high amid growing inflation and persistent staff shortages.
Nationwide, ED labor expenses have jumped around 50% since the pandemic began, even as ED volumes have declined overall. Read more.
