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Why Are Hospitals Losing Millions?

Posted by Dawn Pascale 19, September, 2018

To the surprise of many, some of the biggest brands in healthcare delivery are experiencing record declines in their operating revenues. The utilization of healthcare by patients is at an all-time high in the United States and yet some of the nation’s largest hospitals are experiencing income losses in the hundreds of millions. Large healthcare organizations such as Partners HealthCare, based in New England, lost $108 million in 2017, Providence St. Joseph Health, the nation’s second largest Catholic health system, suffered $512 million drop in operating income in 2016 and the Cleveland Clinic saw a 71 percent decline in income that same year. So, why, with such high patient volume and demand, are hospitals still losing money?

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