Stormy Weather: Navigating Profitability in the NFP Hospital Space with Kevin Holloran
Hospitals had a rough 2022 as they faced higher labor and supply costs, volatile patient volumes, and fragile payer relations. More than half of hospitals in 2022 are expected to result in negative margins, according to Kaufman Hall. Kevin Holloran, Senior Director at Fitch Ratings, said 2022 was “one of the worst years ever in healthcare,” and he projected hospitals would face a bumpy 2023.
On this episode of Healthcare Rethink, Jonathan Wiik, VP of Health Insights at FinThrive and Kevin Holloran dig deeper into financial performance for health systems and hospitals.
Topics covered:
- Headwinds affecting the not-for-profit hospital sector and what is driving those headwinds
- Advice for CFOs and recommendation to insulate operations and profitability
- Thoughts on M&A activity
- How the future of payer/provider collaboration may look
- Issues affecting profitability from labor to patient volumes and possible impact from recent legislation
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