Hospitals in the U.S. are suffering under a debilitating post-pandemic financial and operational trauma. Ascension posted an almost $900 million loss in Q1 of 2022, down from net income of $957.32 million in Q1 of 2021. Kaiser Permanente posted a loss closer to $1 billion, down from net income of $2 billion in the same quarter last year. Labor costs are going through the roof as hospitals battle labor shortages and a substantial increase in the use of contract workers; medical devices and other supplies are becoming more expensive as suppliers adjust their prices to account for their supply chain challenges; and a whole host of systemic challenges have emerged from the pandemic, impacting everything from service line profitability to sustainable financial structures. At the same time, hospital systems still have to make good for the extra expenses they incurred for testing, care and other COVID-related expenses. . .
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