HFMA Survey Forecasts Financial Decline for Healthcare Industry

The HFMA’s Third Quarter, 2022 Outlook Survey provides insight into the current state of the healthcare industry. The latest report demonstrates why healthcare leaders are bracing for continued financial challenges. Based on their survey of 1,077 HFMA members, net patient revenue, hiring of contract clinical workers, and investments in facilities are among the metrics projected to decline across hospitals and health systems.

For the first time in 2022, net patient revenue was projected to decline by 0.15% in the third quarter of 2022. The decline in revenue is likely to have a ripple effect that will impact staffing and other investment decisions.

One significant result from the survey was that healthcare providers are aware that staffing challenges will only increase. Contract clinical worker hiring decreased by 0.28%, while full-time employed clinical staff hiring was projected to increase by 0.57% in the third quarter of 2022. Additionally, full-time administrative hiring declined, particularly in headquarters and corporate offices.

Another trend noted in the survey was a decline in investments in facilities and major IT projects. Healthcare providers are projecting that these investments will decline slightly but still remain stable.

The findings from this report are important for healthcare financial management professionals as they plan for the future.

Read the full report here –

HFMA — Outlook Survey Report, Third Quarter, 2022