Indiana hospitals lost $72 million in income in 2022

(WNDU) - New information was released on Wednesday on the health of Indiana hospitals.

Hoosier hospitals suffered a loss of $72 million in income in 2022 when compared to pre-pandemic levels.

The income loss came at a time when costs have increased dramatically.

“For 2022, we will finish up our year with a negative operating margin of about 1.1 percent,” says Kreg Gruber, CEO of Beacon Health System. “That translates into a $14 million loss for us in 2022. That’s the first loss in our history. Usually, we operate around a 2 to 4 percent margin. Really considered a relatively small margin but enough to sustain us over time.”

Another troubling trend, Medicaid and Medicare patients are now responsible for two-thirds of all hospital stay days. Medicaid and Medicare payments typically don’t cover the cost of services.