State hospitals have lost $1.75 billion dollars in the first six months of 2022, according to the Washington State Hospital Association (WSHA).
“The results are clear and incredibly concerning,” WSHA President and CEO Cassie Sauer said. “[Hospitals] continue to face an unstable financial situation.”
Multiple issues have led to the shortfall
After years of struggling with COVID-19 and overcrowding, state hospitals are “dealing with low Medicaid reimbursement, labor shortages, patient costs higher than reimbursement, and high inflation,” WSHA chief financial officer Eric Lewis outlined. He said that a 12% loss is “unsustainable,” and at that rate, 50% of hospitals will be out of cash by the end of 2023.
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