Finance

New Mexicans rely on their community hospitals to provide the care they need when they need it. To offer reliable and timely care, hospitals need a predictable financial foundation that supports their patients, retains and recruits workers, keeps facilities up-to-date and allows them to invest in the health and wellness of their communities.

 

The challenge:
Hospital finance is anything but predictable and is leaving many New Mexico hospitals at a breaking point. Two-thirds of New Mexico’s hospitals’ expenses are greater than their revenue. Some of the factors include:

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• Close to half of New Mexico’s population is reliant on Medicaid, which pays less than the cost of the care provided.

• Soaring workforce and other costs

• An aging baby boomer population needs more care than ever.

• The dire healthcare worker shortage in which New Mexico is competing with all other states for its workforce

• Struggling rural hospitals are further straining urban hospitals.

 

NMHA helps break down the complexities of healthcare finance with its Hospital Finance: 101 materials. We provide guidance to policymakers on targeted investments and policies that would even out the road ahead so New Mexico’s community hospitals may continue to serve and thrive.