U.S. hospitals and physician practices saw growth in patient volumes and revenues in October, but high costs continue to pressure overall financial performance. Key trends for the month include:
The median hospital operating margin staggered, with the metric holding flat from the prior month, continuing unsteady performance since rising out of the red eight months ago.
Demand for outpatient care continued to grow, as hospitals saw double-digit growth in outpatient revenue compared to October 2022.
Hospital supply and drug expenses saw sizable increases as factors such as inflation and higher patient volumes contributed to ongoing expense pressures for hospitals nationwide.
Patient demand increased for both hospitals and physician practices driving higher physician productivity and higher hospital patient volumes following weak volumes in September.
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