Hospital Challenges in 2023 as discussed in a Becker's Hospital Review Webinar.

Challenge #1: Inflation
Overall Hospital Cost rose 16% in 2022 for both supplies and labor. Labor inflation is in part driven by needing to pay traveling nurses upwards of $200 per hour. Historically, many hospitals paid their own nurses $30 per hour.

Challenge #2: Margin Skimming
Hospital Systems are being challenged by competing hospital systems that are opening Ambulatory Surgery Centers and Imaging Centers (i.e. outpatient facilities) in their geography and 'skimming' high-margin surgeries and imaging away from their hospital.

Specifically, Hospital Corporation of America (HCA) is increasing it ratio of outpatient facilities to hospitals from 12:1 to 20:1... almost Double!

In response to these challenges, some hospitals are merging with other hospital systems.

For example, the SCL Hospital System in Colorado is merging with Intermountain Health Care.

Challenge #3: Low Patient Volume
Patient volumes at hospitals is still below Pre-COVID levels. Overall hospital admits are 83% of Pre-COVID Levels. ER visits are at 91%. Surgeries are at 89%. Outpatient visits are at 86%.

Features CEOs and a CFO from 3 major hospital systems in America, along with the hospital consulting firm VMG Health.

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