In 2022, Fitch warned that the 2022 medians (based on 2021 data) would likely be the sector peak, and that the 2023 medians would show a significant reversal. To that end, Fitch Ratings’ 2023 medians (using audited 2022 data) largely show sizable and widespread deterioration in operating margins and balance sheet metrics, a stark contrast to last year. Similarly, last year, the 2021 medians also reflected a reversed trend from the prior-year medians (i.e. were much stronger). Read more.
2023 Median Ratios: Not-for-Profit Hospitals and Healthcare Systems Still Face Liquidity Challenges
