Labor Cost Management

Labor costs and other concerns dampen the outlook for not-for-profit hospitals this year

Insights from a leading credit-rating agency illustrate the scope of the financial challenges facing not-for-profit hospitals in 2023.

Nick Hut January 10, 2023

The hospital labor picture could be improving, but a full financial recovery isn’t imminent

The financial and operational stress that has hampered hospitals may be easing in some ways, but probably not enough to qualify as a holiday gift for a beleaguered industry. Recent reports from credit-rating agencies have presented a mixed outlook. For example, Fitch Ratings released an analysis in December showing “incremental signs of improvement” in the staffing situation…

Nick Hut December 15, 2022

Reeling hospital industry shouldn’t anticipate a turnaround anytime soon

Amid persistent financial and operational turbulence for hospitals, it appears unrealistic to expect significant improvement in the near future.

Nick Hut November 1, 2022

Healthcare News of Note: The nation could see an alarming nurse shortage by 2025

Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Even fewer nurses are available to fill jobs as travel nurses leave the profession, most telemedicine visit diagnoses in certain specialties match in-person visit conclusions, and long-COVID-19 may be partially to blame for the U.S. labor shortage.

Deborah Filipek October 12, 2022

Healthcare News of Note: Healthcare workers are more emotionally exhausted as pandemic continues

Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Most healthcare workers report higher levels of emotional exhaustion since 2019, new-patient wait times for certain specialties average 26 days, and large health disparities are seen among those with employer-sponsored healthcare coverage.

Deborah Filipek October 3, 2022

Hospital financial metrics took another downturn in July, new report finds

The negative financial performance in July offset moderate gains during the previous few months, according to Kaufman Hall’s monthly report.

Nick Hut August 30, 2022

How a workforce marketplace ecosystem can reduce traveler nurse dependence and stabilize a hospital’s labor cost model

High labor costs are threatening the viability of many hospitals and health systems. A workforce ecosystem approach, after Uber’s “gig worker” approach, can help ensure organizations have access to a stable, cost-effective workforce, with reduced reliance on costly alternatives such as over-reliance on trave nurse.

Craig Allan Ahrens August 30, 2022

Healthcare News of Note: Cancer is now the top driver of large employers’ healthcare costs

Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: The No. 1 driver of healthcare costs for large employers is cancer, the gender pay gap for physicians has gotten larger, and NRC Health names the top facilities for consumer loyalty and patient experience.

Deborah Filipek August 29, 2022

Financial and operational challenges still hamper hospitals 2.5 years into the pandemic

Even as much of society takes steps toward pre-pandemic normalcy, hospitals continue to struggle under the weight of the last two and a half years.

Nick Hut August 24, 2022

Healthcare News of Note: Long COVID may affect a minimum of 10 million working-age adults

Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Long COVID could impact healthcare coverage for many, the national uninsured rate reaches an all-time low, and more nurses are planning on leaving the profession.

Deborah Filipek August 23, 2022
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-leaderboard' ); } );