I might guess this may extend beyond New York as well...BD
"New York's hospitals face consistent, dramatic cost increases every year: for staffing, for operations, for upgrading equipment, and for providing the life-saving care communities demand," HANYS' President Daniel Sisto said. "Unfortunately, as these costs have skyrocketed, Medicare reimbursement rates to providers have lagged grossly behind the times."
"For years, health care providers in New York have struggled to break even, while at the same time the insurance industry has enjoyed record-breaking profits.
It's inexplicable that Medicare funding is used to subsidize an extraordinarily profitable industry, while the actual facilities that provide care, that are in dire need of federal resources, are neglected," said Mr. Sisto.
The failure of payments to keep up with costs has resulted in 56% of New York hospitals losing money, breaking even, or operating in a precarious condition with operating margins of 1% or less.
Medicare Payments Favor HMOs Over Providers - Healthcare Association Of New York State
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