According to a new analysis that was published by Apprise Health Insights and made public on Friday by the Oregon Association of Hospitals and Health Systems, nearly two-thirds of Oregon’s hospitals experienced a financial loss in the second quarter of 2022, with margins plunging to depths that were lower than those seen during the lockdown phase of 2020, which was a time when all operations beyond the most fundamental ceased.
The complete report can be found at the bottom of this page; the remainder of the news release from the organizations can be found here:
Losses from operations incurred by hospitals as a whole reached a total of $111 million during the second quarter, driven mostly by high rises in labor and other costs as well as by the continuation of flat income. Hospitals have incurred a loss of $215 million due to operations through the first six months of the year 2022.
According to Becky Hultberg, President and Chief Executive Officer of the Ohio Association of Health and Hospital Systems (OAHHS), “the wheels have gone off the financial model that keeps hospital doors open to patients.” “This bleak financial picture calls into question the ability of some hospitals to provide essential and life-saving care for patients in their communities both now and in the future,” the article states.
“[T]his bleak financial picture calls into question the ability of some hospitals to provide essential and life- All of us who rely on hospitals that are able to treat our loved ones and neighbors should take this as a wake-up call because it is imperative that we do so. The system is susceptible to failure, and we are inching closer and closer to the point where it will do so.
After posting a margin of -2.5% in the previous quarter, the median operating margin dropped dramatically again in the second quarter, reaching a new low of -4.7%. Both of these figures are significantly lower than they were in the beginning phases of the pandemic. Once more, the revenue generated by the hospital is not sufficient to pay the expense of providing medical care to patients.
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