GHA-Commissioned Study Highlights the Financial Peril of the Pandemic
GHA engaged national consulting group Kaufman Hall to analyze the financial impact of the pandemic on our member hospitals. Many of these financial trends continue even as the pandemic wanes. Notable highlights of the report include:
- Total expenses in 2022 were $7 billion higher than pre-pandemic levels.
- Salary expenses increased approximately $7.6 billion over the last three years combined.
- Operating income is up a collective $1.3 billion compared to 2019 levels. Much of that gain is attributed to the $1.6 billion received from provider relief funds.
- 2022 was the worst financial year of the pandemic inclusive of stimulus funds, resulting in a collective $125 million operating loss.
We are pleased to make the full report and summary document available to the membership to use in their own community.