Moody's: Higher Expenses, Low Volumes Dampened Hospitals' 2012 Finances
Although nonprofit hospitals continued to have strong balance sheets in fiscal year 2012, many financial performance indicators were weak compared with the three years prior, according to a report from Moody's Investors Service.
In 2012, Moody's found that expenses grew faster than revenue across its portfolio of more than 400 hospitals — the first time that has occurred since FY 2008, when the nation began to enter the recession. Overall, median operating revenue growth dropped from 5.4 percent in 2011 to 5.2 percent in 2012. Net patient revenue growth dropped to 4.7 percent, more than a half-percent lower from 2011.
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