March 03, 2022
The latest Kaufman Hall National Hospital Flash Report outlined a difficult first month of 2022 for U.S. hospitals amid a “tidal wave” of COVID-19 cases, rising labor costs, and the cancellation of scheduled procedures.
Hospital margins, outpatient volumes, and revenues all declined during January, while labor expenses rose significantly during the Omicron surge, according to the report released this week.
“While COVID-19 cases have swiftly declined since peaking in mid-January, the effects of the sudden and sizable margin and outpatient volume declines will be felt throughout 2022,” Erik Swanson, senior vice president of data and analytics with Kaufman Hall, said in a statement.
Here are a five key insights from the monthly report:
“Consistent with past surges, hospital performance likely will stabilize somewhat in coming months as a result, but January’s losses could have repercussions throughout 2022," the report notes.
HAP continues to advocate for resources and support to ensure Pennsylvania’s hospitals and their outstanding teams can provide high-quality care in the communities they serve.
Kaufman Hall’s monthly report draws on data from more than 900 hospitals and is available online.
Tags: Public Health | COVID-19
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