Alabama Hospitals Facing Financial Woes
A recent study shows that Alabama hospitals are operating in the “red” facing financial losses that could affect how or even if you have access to healthcare. According to that study, done by Kaufman Hall, a nationally known healthcare and higher education consulting firm, hospital margins in Alabama have dropped 79 percent since the start of the pandemic.
As many of us know, the cost of a hospital visit can be daunting. In 2022 the average cost for an aspirin was around two cents but the average cost charged by hospitals was nearly $60 per pill. Although hospitals receive government assistance, 50% of Alabama hospitals are reportedly operating in the red. If a hospital is forced to close, due to a lack of finances, the overflow goes to another facility which could mean patients won’t receive adequate care.
Hospitals hope to gain relief through the arbor appropriation fund commonly referred to as the Provider relief fund established by congress to help healthcare providers compensate for the financial losses. A loss that administrators accredit to a 700 vacancy list among key employees.