The nation’s hospitals continue to grapple with post-pandemic changes that can negatively impact patient care.
Although hospitals, on average, have moved back into the black following the cessation of federal pandemic dollars, they are still dealing with increased labor and supply costs that are depressing margins. According to the Kaufman Hall National Hospital Flash Report, hospitals returned to profitability in March. However, the average operating margin in July was just 1.3%, which underscores the precarious state of the American hospital system.
Amid a perilous financial picture, one might imagine that hospitals are tightening their belts and putting off new technology purchases. However, a new report available from Eliciting Insights that surveyed more than 300 health system executives reveals that nearly 80% plan to purchase or replace revenue cycle management (RCM) or finance technology within the next 12-18 months.
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