The data shows overall expenses per calendar day declined 2% month over month and grew 4% year over year in December, slower growth than in the past.
Hospital expenses broken out into core areas include:
Labor expenses per calendar day
Month over month: -1%
Year over year in 2023: 1%
Non-labor expenses per calendar day
Month over month: -3%
Year over year in 2023: 7%
Supply expenses per calendar day
Month over month: -3%
Year over year in 2023: 5%
Drugs expenses per calendar day
Month over month: -5%
Year over year in 2023: 6%
Purchased services expenses per calendar day
Month over month: -3%
Year over year in 2023: 7%
Total expenses per adjusted discharge
Month over month: 0%
Year over year in 2023: -4%
Total expenses dropped the most for nonprofit hospitals in the Midwest, at 4% month over month. In nearly every region, expenses dipped in the low single digits.
While revenue expenses dropped month over month, so did net operating revenue. Nationally, net operating revenue per calendar day was down 2% month over month and grew just 6% year over year in 2023.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
