STILL ON THE BRINK: New York’s hospitals continue to face significant fiscal, workforce and payer challenges

The results of this year's New York state joint association hospital fiscal survey show most New York state hospitals continue to lack the funding needed to reinvest in patient care.

An annual effort of the Healthcare Association of New York State, Greater New York Hospital Association, Healthcare Association of Western and Central New York, Iroquois Healthcare Association and Suburban Hospital Alliance of New York State, the survey’s findings include:

• hospitals statewide project a median 0.0% operating margin for 2024;
• 3 in 4 hospital survey respondents lack the funding necessary to reinvest in patient care;
• expense growth and workforce challenges persist; and
• increasing delays, denials and demands from insurers across all payer types are making it more difficult for hospitals to provide care and get reimbursed.

With key healthcare policy matters being taken up during Congress’ lame-duck session and the 2025 state legislative session looming, the hospital associations say, “With most New York hospitals struggling financially, harmful policy proposals threaten to put New Yorkers' access to healthcare services at further risk. We can't reverse progress. Policymakers must continue to support New Yorkers' access to care.”