Accounting & Financial Management

Overall expenses were $2.96 billion for the quarter, an increase from the $2.56 billion in expenses posted in Q1 2021.

When averaged out, the figure comes to 224% above Medicare rates for all employers and private insurers, down from 2018.

A surge in COVID-19 cases led to a substantial increase in the demand for related care and testing, adding to expenses, Kaiser says.

The company also saw revenue climb 11.2% over that time, hitting $76.8 billion during the quarter, according to the earnings report.

Some signs were positive, such as declining COVID-19 cases and hospitalizations, but hospitals still have a long journey to recovery.

Insurers are now required to pass along price concessions received from pharmacies at the point of sale.

KLAS survey reveals the majority are concerned significant resource investment will be needed to sustain price transparency.

Inflation and growth in expenses for workforce, drugs and supplies continues to strain hospital resources more than two years into the pandemic.

Should the deal get court approval, Optum Care will add 645 physicians to its network.

<p class="MsoNoSpacing"><span style="font-size:11pt"><span style="font-family:"Calibri",sans-serif">This week's top stories include Physician Partners of America agreeing to pay $24.5M to settle a number of alleged violations, including unnecessary testing, and CMS estimates that payments to acute care hospitals will increase in 2023 by $1.6B. </span></span></p>