Health Leaders
Ongoing financial challenges will continue throughout 2022 according to a recent analysis from Health Leaders. The primary issues contributing to financial distress stem from the ongoing COVID-19 pandemic, as well as consumer patterns that continue to shape how hospitals and healthcare facilities do business. The three major trends mentioned are the drastic reduction in elective procedures, the minimal revenue generated by long-term COVID-19 patient care, and more options for healthcare leading to consumerization and evolving patient needs.
The analysis advises struggling healthcare facilities to consider diversification and expansion, as well as careful reflection with regard to spending, borrowing, and investing in long-term solutions.
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