NEWSWIRE
AHA publishes new report highlighting financial pressures on hospitals The American Hospital Association (AHA) has released a new report that details the extraordinary financial pres- sures continuing to affect hospitals and health systems, as well as access to patient care.
The report found: • Overall hospital expenses increased by 17.5% between 2019 and 2022. This far outpaced Medicare reimbursement, which only increased 7.5% during this same time.
• Labor costs, which on average account for about half of hospitals’ total budget, increased 20.8% between 2019 and 2022. This is in large part due to a greater reliance on contract staffing agencies to fill workforce gaps and to meet patient demand. The outcome of this has been a staggering 258% increase in total con- tract labor expenses for hospitals in 2022 compared to 2019.
• For the first time in history, the median price of a new drug exceeded $200,000 – more than triple the median annual household income in the U.S. At the same time, price increases for existing drugs continue to outpace inflation, which helped drive a 19.7% increase in drug expenses per patient between 2019 and 2022.
• Hospital supply expenses per patient increased 18.5% between 2019 and 2022, outpacing increases in inflation by nearly 30%. Specifically, hospi- tal expenses for emergency services supplies – which include ventilators, respirators, and other critical equip- ment – experienced a nearly 33% increase during the same time period.
• Purchased service expenses, which are expenses hospitals incur to create operational efficiencies such as IT, envi- ronmental services and facilities, and food and nutrition services increased 18% between 2019 and 2022.
• The burden associated with insurer- required administrative tasks also contributes to rising expenses and nega- tively affects patient care. Nearly three- fourths of nurses reported increases in insurer-required administrative tasks for medical services over the last five years. Nearly 9 in 10 nurses reported insurer administrative bur- den had negatively impacted patient clinical outcomes.
Read on:
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