Is it down the survival of the fittest? What good is new technology if they can't afford it, or much less collect enough money to pay physicians and medical staff? BD
"The advances in technology and treatment options that are central to providing effective health care require continual investment. If hospitals can't generate the revenues necessary to invest in those advances, then our health care system as a whole, and our ability to provide the best care possible, will fall behind."
Weak hospital margins and losses are primarily attributable to governmental and private insurance reimbursement rates that are artificially low and in some instances more than a decade out of date. Perennial federal and state funding cuts, along with workforce shortages and rising costs for everything from blood products to liability insurance also exacerbate ongoing revenue challenges facing hospital administrators.
"With few exceptions, New York's hospitals are as lean as they can be while maintaining the ability to provide the care their communities require," Mr. Sisto said. "We now stand before a crossroads that, depending on governmental policy and funding decisions, will determine if our system will grow stronger to meet our patients' needs, or erode to our collective detriment," Mr. Sisto said.
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