National Hospital Flash Report: March 2022
2022 is off to a bad start for U.S. hospitals and health systems. Hospital operating margins remained in the red for a second consecutive month in February as healthcare providers...
Winter 2022 Kaufman Hall Report: Strategies for Improving Recruitment and Retention
Hospitals and health systems are feeling the full effects of the Great Resignation as labor expenses climb despite lower staffing levels. As a result, hospitals are paying higher wages to compete for qualified personnel. Read the Winter 2022 Kaufman Hall Report for strategies for improving recruitment and retention.
Physician Flash Report: January 2022
U.S. physician practices ended 2021 with sizeable gains in physician productivity and revenues relative to late 2020 performance, but mounting expenses and high levels of investments/subsidies required to support practice operations continue to be areas of concern.
2021 M&A in Review: A New Phase in Healthcare Partnerships
The number of hospital and health system M&A transactions was down in 2021, but the size of transactions was up significantly, with the largest percentage of announced “mega merger” transactions in the last six years.
Thoughts from Ken Kaufman
Viewing Workforce Needs with a Beginner’s Mind
“In the beginner’s mind there are many possibilities, but in the expert’s, there are few.” This famous observation by Shunryu Suzuki, which posits the importance of intellectual...
A Leadership Playbook for Equity
When it comes to equity, healthcare organizations face three different and very difficult challenges: health disparities among patient populations, income inequality in the healthcare...
Developing a Point of View About Inflation
In February, U.S. inflation as measured by the Consumer Price Index grew 7.9% year-over-year, the highest increase in four decades. The factors influencing the current inflationary...
Thoughts from Lisa Goldstein
Covenant Management in Uncertain Times
The first quarter of 2022 will undoubtedly be one of the most financially challenging periods for not-for-profit hospitals.
Hope Doesn’t Pay Debt Service…or Does It?
“Hope doesn’t pay debt service” is a message I heard repeatedly from many hospital executives during my years as a ratings analyst. Any astute finance executive or finance committee...
The Growing Influence of Environmental, Social, and Governance Investing in Not-for-Profit Healthcare
Interest in ESG investing has grown at a rapid pace, but disclosure standards are still developing. Health system leaders should carefully consider the pros and cons of ESG disclosure.
Trending in Healthcare Treasury and Capital Markets
Be Careful Out There
As the operating, financing, and investing activities of every health system face significant headwinds, it will be important to continuously reassess what type of external capital you should access and how you should access it.
Inflation and the Holding Company Threat
The market environment remains challenging given sharply higher benchmark rates and continued uncertainty around credit spreads. Transactions are moving through the process but each one...