Health
New York Says 29% of Its Hospitals Are Financially Distressed
- Pandemic recovery harder due to costs, low reimbursement rates
- Spending on troubled facilities increased over 400% since 2017
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More than a quarter of New York state’s hospitals are financially distressed, and that number is expected to only grow with mounting expenses and lower public insurance reimbursement rates.
Health-care facilities across the US are still recovering from the depredations of the pandemic, which paused elective procedures and spiked costs for staff and supplies. For hospitals in New York, an aging population that is shifting to Medicaid and Medicare is making it even harder for facilities to rebound.