From Daniel McHale, Vice President, Healthcare Finance & Policy
“Massachusetts hospitals are still mired in financial distress three years after the pandemic began. 2022 was the most difficult year on record for providers’ finances and those challenges continue into fiscal year 2023. As CHIA’s report shows, 70 percent of hospital health systems experienced negative operating margins through the first quarter of FY 2023, due in large part to the extraordinary measures they took to maintain their workforce and keep services accessible for patients.
“This is an important reminder that while the worst of the pandemic has subsided for much of our society, the crisis is still very real within the walls of healthcare facilities. Hospitals and health systems are working tirelessly to re-stabilize, but there is still a long road ahead. We remain deeply grateful for the assistance of our elected leaders and partners across healthcare, and we will continue to rely on their support as we strive to strengthen our system for patients across Massachusetts.”