Nonprofit hospitals are seeing some signs of light, but they are facing financial pressures that are likely to continue over the next year, according to Fitch Ratings.
In an analysis of the nonprofit hospital sector, Fitch said that nonprofit hospitals are still struggling with higher labor costs, inflation and thin operating margins, reports Chief Healthcare Executive.
Even after a tremendously difficult year in 2022, nonprofit hospitals appear to be another year away from some level of “normal,” Fitch said in the report. Hospitals can expect weak margins for the rest of 2023 and moving into 2024, the report states.
Hospitals are beginning to make gains, but the recovery is taking longer than expected, says Kevin Holloran, senior director of the nonprofit healthcare group for Fitch Ratings. Read more.
