Maryland Hospitals Suffer Financial Distress as COVID Pandemic Effects Reverberate
Cost inflation, historic and persistent workforce shortages, and the COVID-19 pandemic and its aftershocks have weakened Maryland hospitals’ finances. When hospitals lack financial resources, the health of everyone in our communities is at risk.
Maryland Hospitals Deliver Savings for Commercial Health Insurers
Commercial insurers in Maryland enjoy steadily improving cost savings thanks to Maryland’s unique hospital payment model, according to independent research commissioned by Maryland Hospital Association. Yet it appears those savings are not fully passed along to customers – both employer groups and individual consumers.
Hospitals Deftly Pivot to Protect Marylanders in Coronavirus Pandemic
When COVID came to Maryland in early March, state officials told hospitals to prepare to save the lives of several thousand patients. And, the governor ordered hospitals to halt elective and non-urgent procedures to free up room and conserve resources.
Maryland’s Hospitals Reduce Admissions and Readmissions Faster Than the Nation
Maryland’s hospitals are leading efforts to transform care across the state. They help individuals manage chronic conditions as outpatients and coordinate continuing care with skilled nursing facilities and other non-acute care providers. Importantly, hospitals also have successfully lowered the number of Medicare fee-for-service beneficiaries who die within 30 days of admission.
Maryland Outperforms Nation on Health Spend
National health care costs continue to rise, but Maryland, led by its hospitals and health systems, has worked to lower cost growth while improving the quality of care. Maryland ranked second-lowest in the U.S. on inpatient and outpatient hospital spending in employer-sponsored insurance (ESI) plans in 2017. This issue of MHA Insight focuses on hospital spending and employer-sponsored plans’ cost experience and trends in premiums.