Saturday, October 1, 2022
HomeLatest NewsWorkforceReport: Labor Costs Driving Hospital Expenses Up, Margins Down

Report: Labor Costs Driving Hospital Expenses Up, Margins Down

A nationwide shortage of health care workers made worse by the pandemic, and increased reliance on contract labor, is driving expenses up and operating margins down for hospitals and health systems, according to a new report by health care management consultancy Kaufman Hall. Based on data from a nationally representative sample of hospitals, the median labor expense per discharge has increased by more than one-third since 2019, with the median wage rate for contract nurses over three times higher than for employed nurses. According to the report, median operating margins for hospitals fell from 5.6% to -1.4% between December 2021 and March 2022, a figure that includes funding from the Coronavirus Aid, Relief, and Economic Security Act.

The study reinforces the findings in AHA’s recent report on hospitals’ surging costs for labor, drugs, supplies and other resources.

Stay Connected

Unified Voice Newsletter

Events This Month

october

04oct11:00 am12:00 pmPlaying to Your Strengths - Part 1SDAHO Webinar11:00 am - 12:00 pm Event Type :Education Events,Webinar

05oct11:00 am12:00 pmNo Surprises Act: Are you Ready for 2023?SDAHO Webinar11:00 am - 12:00 pm Event Type :Education Events,Webinar

06oct9:00 am3:00 pmFocus on the Medication AideAvera Education & Staffing Solutions9:00 am - 3:00 pm

06oct11:00 am12:00 pmKey Strategies in Developing Policies and ProceduresSDAHO Webinar11:00 am - 12:00 pm Event Type :Education Events,Webinar

06oct12:00 pm1:00 pmLeverage Data to Hold Payers AccountableAHA Webinar12:00 pm - 1:00 pm Event Type :Education Events,Webinar

X


By submitting this form, you are consenting to receive marketing emails from: SDAHO, 3708 W Brooks Place, Sioux Falls, SD, 57106, http://sdaho.org. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact