646 hospitals at risk of closure!!

 

Yes, there are 646 rural hospitals at risk of closure due to financial issues, comprising around 30 percent of all rural hospitals in the U.S., according to the Center for Healthcare Quality & Payment Reform.

The hospitals face losses on patient services as health plans aren't paying enough to cover the cost of care delivery. The losses will likely increase as inflation and workforce shortages persist, according to the report, which was released in April. While rural hospitals are receiving some support through grants, local tax revenues or other profits, they still have low financial reserves and remain at risk.

More than half the states in the U.S. report 25 percent or more of their rural hospitals are at risk of closure, and more than 200 hospitals nationwide are at immediate risk of closing.

There is help for many though!!

Face Mask Mandates Fall Away Among Many Hospitals

 

The last of the state mask mandates for health care settings are being phased out — and a new study suggests the ones that remain aren’t helping control Covid.

Hospitals around the world are (rightly, in my opinion) dropping mask mandates to improve communication and enhance both the patient and healthcare worker experience!!

Another thing that is really impacting Americans is the new platform for basically free prescription meds!!

Whether insured or not, wouldn't it be nice to not have to worry about the cost of prescription drugs every month? Everyone's situation is different. But, the costs can become a huge concern when it comes to matters of health. What if you don't have insurance? Paying full-price for prescription medications can become extremely stressful. How can this be provided to businesses and consumers in a different way?  

Search all drugs now!

Inflation is hitting hospitals as margins remain near zero levels!

 

Hospital and health system margins improved slightly in March, but continue to sit near-zero levels, putting hospitals in a vulnerable position should a recession or a new public health emergency materialize. 

Under the seemingly calm surface, there are significant challenges — especially labor shortages and diminished margins — that could quickly reach the surface should another crisis arise!!

Growth Management Group will soon come forward with a program to help alleviate this problem.

If you would like to be on the mailing list, please email at Lgpotter33@gmail.com and/or continue to visit https://pofsnow.blogspot.com

This will shock many, many commercial property owners, and it will be here before you know !!

This year, bonus depreciation has been reduced to 80%, and it will continue to be reduced year over year until 2028, when it will be eliminated!!!

The longer you wait, the more you could lose out on. Cost segregation is a valid tax strategy for commercial property owners endorsed by the IRS. It simply depreciates expenses in the proper year 5, 7, or 15, allowing you to take depreciation expenses when you should, thus reducing your tax burden. As a taxpayer, you will receive a significant tax benefit, money you can use NOW!

Considering cost segregation, every property is unique and should be treated as such. We've designed proprietary software that allows YOU, as the Owner, to review your property in about sixty seconds. There is no obligation to use this system. Determine what your tax advantage would be here

Get To & Stay Cash Flow Positive

It's worth the time, I promise. Then, let me know what you think or if you have any questions. I'm here to help.

Larry G Potter

Senior Advisor

Your Growth & Health Are Our Business

Tax Incentives | Expense Reduction | Retirement Plans | Corp. Financing | Smart Medical

Cardiology Coffee Break

 

                                                        Longing for a latte? 

Take a Cardiology Coffee Break with GE HealthCare. Learn how GE HealthCare’s cardiology IT solutions can empower your organization to provide precision care, achieve operational efficiency, and increase patient satisfaction. The next topic is “Put the pedal to the metal—accelerate post processing with CVIT” on May 17, so grab your mug + register now.

Patient acuity is high!!

It appears that patients now entering hospitals are sicker because treatments were deferred during the height of the pandemic. The national average patient length of stay was up nearly 10% between 2019 and 2021. 

Sicker patients translate to increased costs, as these patients require more intensive treatments and medications, increased staff time and more supplies and equipment.

Exacerbating this challenge is the high percentage of the population over age 65. Health care spending for someone who is 65 and older is almost 3 times as much as someone who is working age. Compounding this is the high prevalence of certain costly diseases and conditions including high rates of obesity and adult diabetes.

Since the start of the COVID-19 pandemic, hospitals have faced historic volume and revenue losses, as well as skyrocketing expenses.

Financial losses were also incurred due to paused elective surgeries and procedures during COVID-19 surges.

Read the below article "If Health Care Is So Expensive, Why Are Hospitals Closing Their Doors?"

Post-pandemic, even hospital care goes remote!!

Such a thing was unimaginable, just a few years ago. The Mayo Clinic was among the first hospitals in the country to experiment with sending acute patients home for remote care four years ago. Now, some 250 similar programs exist throughout the country.

It's because during the pandemic, the federal agency that runs Medicare and Medicaid relaxed normal rules requiring around-the-clock, on-site nurses for hospitals requesting the exception. This allowed at-home hospital care programs to rapidly expand. Those pandemic-era waivers will remain in place until at least the end of 2024, although some experts anticipate policy changes allowing such programs to remain in place permanently.

Now, it seems at-home hospital care is fast becoming an option for acute care for many conditions, even for treatment of cancer! 

The practice has been enabled by other recent trends as well – for instance the increase in traveling medical staff and the prevalence of portable Internet-enabled devices to connect with medical help remotely.

Such shifts could potentially reshape the future of hospital care, affecting many more patients.

What's been your experience? 

Feel free to leave your comments....