Rising costs, the return of Medicare sequestration, labor shortages and higher patient acuity levels have all contributed to health systems struggling financially over the past 18 months.
Since the start of the year, at least half a dozen hospitals have either closed or announced plans to close. To stay afloat, many others have opted to shutter or sell off low-margin operating units. All this comes after record losses in 2022, which was the worst financial year for hospitals and health systems since the start of the COVID-19 pandemic, according to health care consulting firm Kaufman Hall. Read more.
