respond to at least
two of your peer postings listed below in a minimum of 1-2 paragraphs.
Patrick Krebs
The national hospital revenue has been on an upswing since 2000. The main reason is due to many people requesting additional care from COVID 19 virus, to include the latest omicron virus. According to a report from KaufmanHall, the National Hospital Flash Report, the hospitals’ gross operating revenue for 2021 was up 14.7% compared to 2020 as well as 12.1% from 2019, with gains present across inpatient and outpatient revenues alike, according to the report. The Gross Operating Revenue increase has remained elevated for 10 straight months, with a median level of 4.4%.
These numbers showcase that even though hospitals across the nation continue to fight against pandemic wide issues, there is a general revenue occurring. Another report states that due to the pandemic, many agencies were receiving government assistance, and this has help stabilize and increase profits for many agencies. The Mayo Clinic, has posted $728 million operating income in 2020 and $14 billion for 2021. The clinic was able to return $156 million in government lending for the CARES Act. Much of this revenue was due to the quick mobilization of COVID testing and treatment. The ability to have liquidity and acuity helped many hospitals with moving finances around to create a profit. With the main source of income coming from COVID issues, the revenue was heavily dependent of that and not on inpatients and outpatient revenue. This is that main reason the rise in revenue is occurring and may continue for a while.
Muoio, D. (2022, January 31). Kaufman Hall: Hospital financials fared better across 2021 but still lag pre-pandemic numbers. Fierce Healthcare.
https://www.fiercehealthcare.com/hospitals/kaufman-hall-hospital-financials-fared-better-across-2021-still-lag-pre-pandemic-numbers
King, R. (2021, March 4). Large hospital chains post profits in 2020 thanks to higher acuity and liquidity. Fierce Healthcare. Retrieved February 8, 2023, from
https://www.fiercehealthcare.com/hospitals/large-hospital-chains-post-profits-2020-thanks-to-higher-acuity-and-liquidity
Janelle Ferrer
Since 2020, are US hospital revenues/income up or down or the same, AND WHY?
The peak of the COVID-19 pandemic in 2020 directly impacted economic activity and the management of diseases, which caused an unprecedented challenge for healthcare systems worldwide. The availability of medicines and medical equipment in hospitals was heavily influenced. The research found that the pandemic leads to a loss of wages, capital flows, and stress on the healthcare workforce, which can affect the long-term systemic effects of changes (Tanne, Hayasaki, Zastrow, Pulla, Smith & Rada, 2020). The COVID-19 pandemic has put extreme stress on the healthcare workforce, leading to workforce shortages and increased healthcare worker burnout, exhaustion, and trauma.
Since 2020, hospital revenues have been negatively affected due to high healthcare costs, low inventory of protective equipment, including N95 face masks, and shortages of medical supplies, ICU beds, and respiratory ventilators, which have ultimately exposed weaknesses in the delivery of patient care (NBC News, 2020). As a result, health systems are now investing in their supply chains to avoid disruptions that emerged due to COVID-19. In addition, it also caused a massive surge in demand for telehealth and virtual care to enhance the digital experiences of patients.
There is also increasing concern regarding patients who delay care and treatment, which may lead to significant financial consequences in the event of illness. A study found that many insurers expect health costs to increase this year due to pent-up demand following deferred care, direct expenses related to COVID-19 testing and treatment, and vaccination costs (Nicola, Aisafi, Sohrabi, Kerwan, Al-Jabir, Iosifidis, Agha & Agha, 2020). This disease is still new, and I believe it still requires much research. Therefore, increasing costs for labor, testing, treating patients for COVID-19, and administering vaccinations will likely continue and affect hospital revenues.
References
NBC Universal News Group. (2020, March 17).
Coronavirus: Ventilator rush faces regulatory and logistical obstacles. NBCNews.com. Retrieved February 09, 2023, from https://www.nbcnews.com/news/world/coronavirus-ventilator-rush-faces-regulatory-logistical-obstacles-n1161651
Nicola, M., Alsafi, Z., Sohrabi, C., Kerwan, A., Al-Jabir, A., Iosifidis, C., Agha, M., & Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review.
International journal of surgery (London, England),
78, 185–193.
https://doi.org/10.1016/j.ijsu.2020.04.018
Tanne, J. H., Hayasaki, E., Zastrow, M., Pulla, P., Smith, P., & Rada, A. G. (2020). Covid-19: how doctors and healthcare systems are tackling coronavirus worldwide.
BMJ (Clinical research ed.),
368, m1090. https://doi.org/10.1136/bmj.m1090
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