The nation’s hospitals and health systems face compounding pressures of declining cash reserves and rising reimbursement delays and denials from healthcare payers, including commercial and Medicare Advantage plans. These critical healthcare organizations are left increasingly financially strapped as a result, and less prepared to navigate sudden market shifts and disruptions.
The latest Hospital Vitals report — published in partnership with the American Hospital Association (AHA) — shares data from 1,300+ hospitals and health systems. Key findings comparing early 2022 to mid-2023 include:
Days cash on hand dropped 28%
Revenue reductions due to payer claim denials rose 20.2%
Accounts receivable fluctuated monthly as much as $14,200