News for Immediate Release
November 21, 2024
Harrisburg – PHC4 releases Financial Analysis – Volume Three today. The final volume of a three-part series of reports published annually by PHC4, Financial Analysis – Volume Three displays financial information during fiscal year 2023 (FY23) pertaining to non-GAC hospitals in Pennsylvania. These include rehabilitation, psychiatric, long-term acute care, and specialty hospitals.
When asked of the specific value offered by this report, Barry D. Buckingham, the Executive Director of PHC4, stated, “Providing insight into information surrounding uncompensated care, operating margins, and net patient revenue is what makes these reports so valuable across the Commonwealth.” He added that Volume Three is intended to provide stakeholders with fact-based information to prioritize resources and make informed decisions, which is the essence of PHC4’s mission.
Within Volume Three, the data revealed that the foregone dollar value of uncompensated care for non-GAC hospitals increased 14.96%, or $2.2 million, from $15.2 million during FY22 to $17.4 million in FY23. Uncompensated care as a percentage of net patient revenue in FY23 among the non-GAC hospitals ranged from 0.29% at long-term acute care hospitals to 1.00% at rehabilitation hospitals. During FY23, the non-GAC hospitals treated 5.79% of the statewide patients that received inpatient care and 3.69% of the statewide hospital outpatient department visits.
PHC4 is an independent council formed under Pennsylvania statute (Act 89 of 1986, as amended by Act 15 of 2020) in order to address rapidly growing health care costs. PHC4 continues to produce comparative information about the most efficient and effective health care to individual consumers and group purchasers of health services. In addition, PHC4 produces information used to identify opportunities to contain costs and improve the quality of care delivered.
For more information, visit phc4.org or access the full report here.
Media contact:
Barry D. Buckingham, Executive Director, PHC4
