Second Pass Reviews, New AI Technology Will Support Hospitals’ Financial Performance During Hard Times | By Michael Gao, Founder & CEO, SmarterDx
Healthcare systems have faced significant challenges in recent years. The COVID-19 pandemic accelerated the trend of medical care outside of traditional hospital settings, leading to a decrease in patient volumes. Additionally, personnel shortages and structural issues have caused a steep rise in operating expenses. According to a January 2023 report by Kaufman Hall, hospitals on average were only able to achieve one month of profitability throughout the entire year.