St. Louis-based Ascension will focus some of its future investment in outpatient services, reflecting a nationwide trend in a shift from inpatient care.
As the 139-hospital system reported a $410 million operating loss in the second half of 2022 March 10, it focused on the growing importance of outpatient and emergency room visits as part of its overall service offering.
While outpatient surgery visits rose 3.5 percent in the six months to Dec. 31, 2021, for example, there was a further 3.8 percent increase in the six-month period ending Dec. 31, 2022.
Future investments will therefore shift accordingly, Ascension said.
"Additional investments are also being made in our ambulatory surgery center, imaging and outpatient physical therapy sites that enhance Ascension's footprint of service offerings and provide greater convenience to consumers," management said in its financial report. "Consistent with industry trends, the system is experiencing a shift from inpatient to outpatient procedures that was accelerated in part during the pandemic."
An overwhelming majority of 95 percent of health leaders are expecting an increase in outpatient volumes in 2023, according to a March 2 report.
Ascension is also working on initiatives to further reduce costs caused by sustained labor and inflationary pressures. The system's salary, wage and benefits program decreased 2 percent, or $148 million, for the six months ending Dec. 31, 2022, compared with the previous six-month period.