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Becker's Healthcare
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CMS Forecasts Significant Surge in Medicare Expenditures for 2023
In a report by the Centers for Medicare and Medicaid Services (CMS), Medicare spending is projected to see an 8 percent surge in 2023 due to increased hospital utilization and enrollment. In contrast, spending growth was relatively lower at 4.8 percent in 2022, attributed to reduced hospital service usage.
Looking ahead, the CMS anticipates a slight slowdown in spending growth to 7.2 percent in 2024, largely a result of decreased per-enrollee payments. However, an interesting twist is expected in the form of prescription drug costs.
Read the full article: Medicare spending growth will take off in 2023, CMS projects
Healthcare Crisis: Double-Blow as Two Hospitals Shut Down in 48 Hours
Major healthcare shifts have taken place in Illinois and New York with the closure of two hospitals due to considerable financial pressures.
St. Margaret's Health, based in Spring Valley, Illinois, ceased operations on June 16. Despite an urgent plea for emergency state aid by President and CEO Tim Muntz, Illinois' latest budget offered no respite for the hospital, further fueling its financial struggles. With the closure of the hospital, some of St. Margaret's assets, including the Peru hospital (closed since January), are transitioning to Peoria-based OSF HealthCare, operated by The Sisters of the Third Order of St. Francis.
Read the full article: 2 hospital closures in 2 days
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