Several academic studies, based on publicly available information, found that federal financial assistance to hospitals has offset the operating loss caused by the pandemic, and hospitals’ overall profit margin remained largely unchanged in 2020 and early 2021 as compared to 2019.
Pennsylvania lawmakers plan to introduce legislation that would place a moratorium on private equity and other for-profit firms from buying hospitals in the state, following closures and cutbacks that curtailed care in parts of suburban Philadelphia.
Shields Health and Baystate Health have announced they are closing their urgent care service at centers in Feeding Hills, Longmeadow and Westfield next Friday, March 31.
The Center for Healthcare Quality and Payment Reform found that over 600 rural hospitals are at risk of closing in 2023, citing persistent financial challenges related to patient services or depleted financial resources.
Total revenue last year at Highmark Health’s Allegheny Health Network rose 8% to $4.3 billion, but labor costs, supply chain issues and inflationary pressures sent losses mounting at the 14-hospital system to $181 million for the year, $61 million higher than the loss reported in 2021.
Nonprofit hospitals are required to show they spend money on "community benefit," but a bill in the Colorado legislature would require them to invest more and focus on different priorities.