Despite the financial headwinds, the health system opened two new facilities in 2022 and broke ground on an inpatient clinic expected to open in 2025. Last year, the health system saw a 21 percent increase in expenses, largely related to rising labor costs.
In 2023, Vail is projecting that it will spend $194 million on compensation and benefits, a year-over-year increase of $7.8 million.
“After three years of a pandemic, it’s time to emerge and try to get back to some sense of normalcy,” Vail Health President and CEO Will Cook said in his annual “State of Vail Health” on Feb. 7.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.