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Across the industry, hospitals closed 2023 with an upward trend of stability and growth. This article examines how to keep that pattern going well into 2024. Click to read below! #HCRI #healthcare #hospitalsector #financialgrowth

If the average outlook for operating margins for hospitals is 1 to 2 %. That means there are plenty of hospitals on the negative side of breakeven If you find yourself there we have a 100 day plan that identifies a 3 to 5 % opportunity Give us a call at aspire results

In the News: Though hospitals are seeing the beginnings of a slow, sustained financial recovery, persistent challenges remain, such as elevated labor costs and a fundamental disconnect between revenue generation and expense requirements, according to a recent Fitch Ratings report. The report raises a crucial question: Are we witnessing a "new normal" for nonprofit hospitals, characterized by long-term lower operating margins? Pre-pandemic, the industry aimed for 3% operating margins. Now, according to the report, we're seeing current margins hovering in the 1-2% range. Is it the new normal? Discover key findings in this Becker's Healthcare article: https://hubs.li/Q02LvZK40 #hospitalfinance #healthcarecosts #rcm #revenuecyclemanagement #operatingmargins #hospitalrevenuecycle #hospitalrevenue #hospitalmargins #beckershealthcare #patientoutcomes

We have already observed how Ascension Health closed and consolidated many rural health hospitals in 2023. How will this impact other county and rural hospitals in 2024?

🏥 First month of 2024 starts off strong - will it hold? "Hospital financials proved strong in January compared to previous years, though margins declined slightly from the previous month." 👇 Key takeaways from the Kaufman Hall flash report: 1. Margins improved in January relative to previous years. While margins declined slightly from December, they were higher in January relative to the same periods in 2022 and 2021. 2. Net revenue has not risen as fast as gross revenue. This might reflect payers negotiating more aggressively and a shift to value-based payment models. 3. Total expenses on a volume-adjusted basis have improved. Though there’s been continued growth in drugs and supply expenses, labor expenses have improved. 👇 The bottom line: Typically, the national monthly hospital operating margin average is around 4%, so this hot start might cool a bit - and probably should. We'll see if things stabilize and get back to normal across the entire country. There is regional variation going on here. #hospitals #healthcare

Greater labor expenses and patient acuity continue to challenge hospitals in the year ahead. Many hospitals are at risk of closure due to increased costs. ElevatePFS helps providers address their most complex revenue cycle challenges to improve their financial performance and allow them to continue delivering critical services to patients. #ElevateYourRCM #RCM #RevenueCycle #revenuecyclemanagement 

Hospital financial performance remained stable in August, with operating margins reflecting a 4.2% median index despite a rise in patient volume. The latest Kaufman Hall National Hospital Flash Report (NHFR) also highlights decreases in revenue and expenses on a volume-adjusted basis, providing critical insights for CFOs looking to manage hospital finances efficiently. #healthcaremanagement #healthcaredata #hospitaldata #financialperformance #hospitalfinances https://lnkd.in/gh6bgyDt

Cash on hand for hospitals improved in 2023, but is still considerably down, and Fitch Ratings expects to only see modest improvements in cash on hand in 2024. According to Fitch, the median days cash on hand for hospitals is 216 days, and the outlook for a significant improvement isn’t great. Additionally, "The long-time ideal range for healthy operating margins is in danger of a permanent reset for U.S. NFP hospitals," Fitch says. Find out more in this article from Modern Healthcare's Caroline Hudson or in the following resources: - Fitch release: https://lnkd.in/g-_DWs_u - "Hospitals should improve financially in 2024, but it’s unclear how much, Fitch Ratings says," Chief Healthcare Executive article by Ron Southwick: https://lnkd.in/gyu2e9rk #healthcare #finance #revenuecycle

Here’s some good news – hospital labor expense growth has slowed a bit, according to this Becker's Healthcare article. However, supply costs remain elevated, and Moody's Corporation notes increased drug and medical supply costs as 2024 revenue threats. With supply expenses growing 11% YOY, how can hospitals find expense relief in 2024? Costly medical devices make up a big percentage of supplies spend, but here’s more good news -- PPI spend management is well within reach of today’s supply chains. Reach out if you’d like to know how. https://hubs.li/Q02dQz0h0 #healthcareCFO #HealthcareSupplyChain