When the nation is unprepared for catastrophic public health emergencies, the consequences are as real as they can get. As we saw with COVID-19, many people died while the country’s public health apparatus struggled to catch up, and America’s hospitals, jumped into the breach.
Thoughts from Ken Kaufman
Five Key Takeaways from Rating Activity in 2022
Rating downgrades exceeded upgrades for all three rating agencies in 2022. Below are five key takeaways: Downgrades covered a wide swath of hospitals including single site hospitals and...
Credit and Capital Markets Outlook for 2023
As we move into 2023, hospital and health system leaders will need to bring the full range of available resources to bear against a continuing barrage of operating and financial headwinds.
Moving Into and Through 2023
The defining characteristic of 2023 is the multi-variable set of high-impact unknowns. The only way to push back is to bridge the management of scarce resources across the very different operating, financing, and investing functions that define every not-for-profit health system.
2022 M&A in Review: Regaining Momentum
With 17 announced transactions, the fourth quarter of 2022 was one of the most active quarters we have seen since the COVID-19 pandemic began near the end of Q1 2020. Four of the 17...
Financial “Twindemic” and the Impact on Ratings
Although hospitals have experienced difficult operating periods and volatile stock markets in the past, the simultaneous impact of these two forces in 2022 was a first in not-for-profit healthcare, creating a financial “twindemic” that drove many of the downgrades.
National Hospital Flash Report: December 2022
Hospitals experienced a slight increase in operating margins in November 2022—though margins remained negative for 2022 to date—according to the latest National Hospital Flash Report from Kaufman Hall.
Rating Agency Update: Operational Challenges, Covenants, and ESG
In this summary of our Healthcare Leadership Conference rating agency panel, the agencies’ not-for-profit healthcare leaders address issues related to financial performance, covenant management, and ESG.
Taking a Fresh Look at Affiliation Options for Physicians and Health Systems
The healthcare marketplace continues to evolve, posing new challenges and creating new opportunities. So too do the affiliation models and affiliation partners that will best meet current and future needs.
Our Inflation Round Trip
Tuesday’s 7.1% CPI print was an improvement from October’s 7.7% and well off the 9.1% peak (so far) posted in June. 7.1% is not price stability and there remains a large gap to the Fed...
Healthcare Performance Improvement Insights Webinar
Listen to members of Kaufman Hall’s Performance Improvement practice discuss insights from our 2022 State of Healthcare Performance Improvement report. With hospitals and health systems...