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Tight Hospital Margins Continue Amid COVID-19 Concerns

Tight Hospital Margins Continue Amid COVID-19 Concerns
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Hospitals saw gains in volume, revenue and margin in April, finds Kaufman Hall

Slowly, the financial health of the nation's healthcare institutions are improving. Hospitals and health systems continued to see performance improvements in April compared to the devastating losses experienced in the early months of the COVID-19 pandemic. Hospital margins, volumes, and revenues were up across most performance metrics both year-to-date and year-over-year, but ....

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Chicago hospital finds only temporary spike in hand-washing during pandemic temporary • Hospitals continue to see narrow operating margins • Allscripts revenue declines

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CHICAGO HOSPITAL STUDIES HAND HYGIENE COMPLIANCE: Hand hygiene among University of Chicago Medical Center workers improved early in the pandemic before dropping to pre-COVID levels after just four months, according to a new study in JAMA Internal Medicine.
Researchers examined hand hygiene compliance in the Hyde Park hospital by day, week and month from September 2019 through August 2020, during which time UCMC admitted 1,159 COVID-positive patients. They also looked specifically at compliance among the hospital’s temporary COVID units.
Hand hygiene compliance reached a weekly peak of 88 percent across all units and 98 percent across COVID units during the week of March 29, 2020, the study shows. Meanwhile, compliance declined across all units to a daily low of 51 percent on August 15, and a weekly low of 55 percent that same week. ....

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Narrow Margins, Low Patient Volumes Fuel Ongoing Financial Instability for Hospitals

Narrow Margins, Low Patient Volumes Fuel Ongoing Financial Instability for Hospitals
What You Should Know:
– Narrow margins, low patient volumes, and high costs fuel ongoing financial instability for U.S. hospitals, health systems, and physician groups, according to two new reports from Kaufman Hall.
– U.S. hospitals and health systems saw mixed performance in March, as national COVID-19 metrics plateaued early in the month before climbing steadily again with increased spread of COVID-19 variants, as shown in the latest issue of the
– Physician groups experienced volatility throughout 2020 as a result of the pandemic. Physician productivity, compensation, and revenues for the year all fell below 2019 results. Meanwhile, the average investment required to supplement physician revenues rose, according to year-end analyses featured in the new quarterly issue of Kaufman Hall’s ....

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UVM Health Network confronting $21.3 million financial toll of COVID-19

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Photo: UVMHN CEO John Brumsted, MD, addresses the media on March 12, 2020, outside the entrance of The University of Vermont Medical Center in Burlington. This was one day after the Medical Center admitted its first COVID-19 patient and one day before Governor Scott declared a State of Emergency. VBM photo.
Focus remains on providing high quality care.
Vermont Business Magazine March 11 will mark one year since the first patient diagnosed with COVID-19 received care from the UVM Health Network. Since that time, the Network has worked vigorously to fight the pandemic, educate our communities and distribute vaccines to stop the spread – all while focusing on safely meeting the health care needs of our patients across Vermont and Northern New York. ....

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