U.S. hospitals reported a bump in average operating margins and patient volume to begin the third quarter, according to Strata's Monthly Healthcare Industry Financial Benchmarks.
The report highlights data from more than 1,600 hospitals nationwide The average year to date operating margin hit 6.5% in July, up 4.1 percentage points from 2023. While expenses were up 8.2% from 2023, revenue climbed nearly 14%.
Patient demand contributed to the margin gains, according to the report, with outpatient visits soaring 13.2% and inpatient visits jumping 8.2% year over year. Outpatient revenue was up nearly 16% and inpatient revenue jumped 9.1% in July compared to the same period in 2023.
Inpatient admissions were up 12.2% in July compared with 2022.