- Facilities are still grappling with labor shortages, expenses
- Investors are bullish on the sector as returns rebound
During the depths of the pandemic, hospital operator Main Line Health managed to keep all of its beds open and avoid layoffs. But the suburban-Philadephia system struggled like the rest of the industry with spiraling costs and shortages, and had to bring in 250 outside nurses to cope with pressing demand.
Today, most of those agency nurses are gone and a bump in payments from private insurers points to better fortunes for Main Line and its four hospitals. Things “are a little better and they will get better this year,” President and Chief Executive Officer Jack Lynch said.
Yet even as the bottom line looks set to improve, Lynch frets over pressures old and new, including expenses that remain significantly higher. “Inflation is literally out of control,” he said in an interview. It’s a familiar story.
Bloomberg
By Lauren Coleman-Lochner
December 13, 2023