Hospitals underscored their push for greater federal financial support last week with a new report highlighting a 17.5% increase in hospital expenses from 2019 to 2022 that more than doubled the period’s 7.5% rise in Medicare reimbursement. Published Thursday, the American Hospital Association’s (AHA’s) latest numbers outlined a 20.8% increase in hospitals’ labor costs from 2019 through 2022 driven by a 258% spike in contract labor expenses. Labor represents nearly half of a hospital’s operating expenses and has become a key issue for the industry amid widespread shortages.
Read the full article: Pandemic-Era Medicare Pay Bump Not Enough to Cover Hospitals’ 17.5% Expense Growth, AHA Argues //
Source: https://www.fiercehealthcare.com/providers/pandemic-era-medicare-pay-increases-do-not-come-close-covering-hospitals-175-expense