State's hospitals in financial trouble
August 4, 2022
A report released last week by the Washington State Hospital Association indicates that virtually every hospital in the state is in financial trouble. (here) A recent survey revealed that hospital revenues were up five percent from 2021 to 2022, yet expenses rose 11 percent over the same time period. This is unsustainable. Several, if not many, hospitals are at risk of closing if these losses continue for another year. This includes both rural and urban facilities.
Executives give a number of reasons for the financial problem. Heading the list is poor Medicaid reimbursement at only 42 perce...