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Learn how healthcare leaders are turning AI from hype into real value—improving operations, workforce efficiency, and patient experience through practical strategy and governance.

Hospital performance settled into a “new normal” in 2025. Patient volumes continue to grow, and a persistent gap between gross and net operating revenue indicates an eroding payer mix and more uninsured patients.

Compensation is not keeping pace with physician productivity, while patient demand continues to rise and the proportion of advanced practice providers expands across the workforce.

Despite a decline in hospital performance and volume this month, year-to-date revenue, volume, and margins are still strong compared to prior years.

Explore how hospitals and health systems are navigating persistent financial headwinds through strategic mergers, partnerships and realignment. The 2025 M&A Review, offers expert insights on evolving deal structures, capital constraints and the growing role of scale and specialization.

Hospital volumes remained strong in October, while average length of stay declined, translating to a dip in net revenue per discharge. Bad debt and charity care continue to rise, and staffing levels are tightening.

From managing non-labor expenses to strengthening the workforce, expanding access and navigating payer reimbursement, health systems shared the key challenges shaping their focus this year—and their planning for the year ahead.

The latest Kaufman Hall Report includes highlights from the annual Healthcare Leadership Conference.

The median investment/subsidy per provider plateaued this quarter, however the distribution between higher and lower performing practices is wide.

Hospital operating margins remain stable, but data shows a widespread gap in performance. Patient volumes increased this month in both emergency and inpatient care, while drug expenses continue to rise.

Hospital performance is challenged by a decline in patient volumes and operating margins, increases in uncompensated care, and rising expenses, notably non-labor costs.

Following a modest uptick in hospital and health system M&A activity in Q2 2025, with eight announced transactions, Q3 continued to trend upwards, with 15 transactions announced—an activity level more in line with historical observations.