SNAPShots

SNAPShots

PA Hospitals Out $5 Billion From COVID-19

Pennsylvania hospitals reported a combined $5 billion in additional expenses and lost revenue associated with the COVID-19 public health emergency during the nine-month period from January through September, according to a new report from the Pennsylvania Health Care Cost Containment Council.

The report breaks down the additional costs and lost revenue as follows:

  • staffing expenses – $379 million
  • testing expenses – $81 million
  • supplies and equipment: $258 million
  • construction – $21 million
  • housing care – $500,000
  • other expenses – $88 million
  • lost revenue – $4.1 billion

These figures, the report notes, do not reflect emergency funds hospitals received through the Coronavirus Preparedness and Response Supplemental Appropriations Act, the Families First Coronavirus Response Act, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), or the Paycheck Protection Program and Health Care Enhancement Act.

Learn more about how COVID-19 has affected the financial performance of Pennsylvania’s hospitals in the PHC4 analysis “COVID-19 Disaster Emergency Report.”

 

2021-01-18T06:00:13+00:00January 18th, 2021|Coronavirus, COVID-19|Comments Off on PA Hospitals Out $5 Billion From COVID-19

New Report on PA Hospital Financial Performance

The Pennsylvania Health Care Cost Containment Council has published its annual report detailing the financial health of acute-care hospitals in the state.
According to the report, hospital net patient revenue increased in FY 2016, accounts receivable are being paid faster, operating and total margins rose, and uncompensated care declined.
The report describes hospital financial performance and utilization state-wide and by region and also presents FY 2016 margin, uncompensated care, and Medicare and Medicaid share data for every acute-care hospital in the state.
Go here to find the PHC4 report Financial Analysis 2016:  General Acute Care Hospitals.

2017-05-10T11:23:09+00:00May 10th, 2017|Uncategorized|Comments Off on New Report on PA Hospital Financial Performance

Financial Performance Mixed for PA Non-General Acute-Care Hospitals

Pennsylvania’s non-general acute-care hospitals are generally in good financial health, although their financial performance varied in FY 2014.
phc4According to a new report published by the Pennsylvania Health Care Cost Containment Council, in FY 2014

  • psychiatric hospital operating margins rose from 8.29 percent to 9.87 percent
  • long-term acute care hospital operating margins fell from 5.77 percent to 5.24 percent
  • rehab hospital operating margins decreased from 12.93 percent to 12.74 percent
  • specialty hospital operating margins more than doubled, from 5.25 percent to 11.38 percent

For a closer look at the financial performance of non-general acute-care hospitals, find links to the report Non-General Acute Care Hospitals – Volume Three here, on the web site of the Pennsylvania Health Care Cost Containment Council.

2015-11-24T06:00:17+00:00November 24th, 2015|Uncategorized|Comments Off on Financial Performance Mixed for PA Non-General Acute-Care Hospitals

PA Hospitals Doing Better, PHC4 Reports

The financial performance of Pennsylvania’s acute-care hospitals improved in 2011, according to the Pennsylvania Health Care Cost Containment Council.
While hospitals’ uncompensated care rose 11.2 percent, to $990 million, the state-wide average operating margin rose from 4.37 percent to 5.58 percent, according to Financial Analysis 2011, Volume One, Acute Care Hospitals.  Hospitals’ net income rose $769 million, to $2.69 billion, with 72 percent of that improvement coming from operating income.
Find PHC4’s news release and the report itself, which includes an industry-wide analysis as well as detailed information about the financial performance of every Pennsylvania acute-care hospital, here on PHC4’s web site.

2012-05-18T06:00:04+00:00May 18th, 2012|Uncategorized|Comments Off on PA Hospitals Doing Better, PHC4 Reports
Go to Top