The Way Forward: CEOs & CFOs Tackle Workforce, Revenue and Digital Transformation
Hospital and health system CEOs and CFOs are well-prepared to handle any number of financial and strategic challenges that are heaped upon them, with 2022 forcing them to handle them all at the same time.
Provider financial performance statistics are so bad they would be laughable if not so true. In a Kaufman Hall study prepared for the American Hospital Association, expenses rose by $135 billion in 2022, led mostly by $86 billion in increased labor expenses. In all, 53% of hospitals will have negative margins in 2022.
2023 strategies will be based on a balance: playing very careful short-term bets to maintain as much margin as possible while also looking for longer-term strategies to climb out of the hole. HealthLeaders Exchange convened a panel of 15 leading health system executives—including CEOs, CFOs, CNOs, CMOs, and CIOs—to reset where the industry finds itself as 2022 closes, and to share their strategies for moving past the current crisis.