Report: Covid-19 hospitalizations spiked amid falling operating margins in November The financial futures of U.S. hospitals remain shaky, as Covid-19 cases and hospitalizations surge with alarming speed nationwide. Though vaccines are being distributed, the coming months will be challenging for hospitals, a new report from Kaufman Hall shows. Shares1 As COVID-19-related hospitalizations in the U.S. surged, hospitals and health systems’ operating margins continued to fall in November, signaling a difficult winter ahead, according to a new report from healthcare consultancy Kaufman Hall. The report, which uses data from over 900 hospitals gathered monthly over the last three years, shows inpatient volumes surpassed 2019 levels for the first time since the beginning of the pandemic, with patient days up 4% year over year.