With a resurgence in in-person care, patients resuming precautionary visits, and a gradual alleviation of labor costs and shortages, hospitals and clinics are expecting a somewhat more positive outlook for 2024 compared to the previous year. Nonetheless, the utilization of emergency funding allocated during the pandemic will negatively impact the already-strained healthcare systems, prompting officials to anticipate an uptick in technology investments, particularly in AI-based equipment.
The financial performance of healthcare providers varies significantly based on factors such as their operational environment (remote or industrial) and the scope of services offered. Despite this variance, industry experts interviewed by STAT noted a gradual improvement in financial metrics throughout 2023, resulting in increased capital for technological enhancements.
During the initial three quarters of 2023, HCA Healthcare, a for-profit healthcare network operating over 180 hospitals and 2,000 facilities nationwide, reported revenues nearing \(48 billion, marking a rise from approximately \)45 billion in 2022. Similarly, in Pennsylvania and New York, Highmark Health, managing a 14-hospital network alongside its health insurance arm, recorded revenues of about $20 billion during the same period, reflecting a 4% growth from the previous year.
