Colorado’s hospital systems aren’t expecting this financial year to be much better after a challenging 2022, though leaders said they have plans to try to bring expenses under control.
Medical staff perform an outpatient surgery at Denver Health on March 15, 2023. Denver Health lost money on patient care in the first three quarters of 2022, with a margin of -3.8%. With investment losses, the gap between revenues and expenses widened to -7.7%.
It also didn’t help that uncompensated care doubled from about $60 million in 2020 to $120 million in 2022, partly due to longer stays by patients who are homeless, Lynne said. More of Denver Health’s patients were uninsured last year, and while the hospital tries to sign those patients up for Medicaid, not everyone qualifies, she said.
Pharmacy supervisor Gabrielle Jacknin, left, and clinical pharmacist Andrew Kluemper, right, work on their computers at their workstation in the Emergency Department at UCHealth University of Colorado Hospital in Aurora on March 13, 2023. UCHealth had a narrow profit margin on patient care in the first nine months of 2022, at about 3.5%. Investment losses pushed it into the red, though, with a total margin of -18.3%.
“We can play with care models… but there’s only so much you’re going to pull out in efficiencies,” he said.
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