Hospitals across the U.S. are continuing their long recovery from the financial turbulence of the early 2020s, with April’s data from Kaufman Hall’s “National Hospital Flash Report” offering a mixed but cautiously optimistic outlook. Based on data from more than 1,300 hospitals gathered by Strata Decision Technology, the report shows while year-to-date operating margins are up 63% compared to 2022, month-over-month performance slipped and year-over-year margins declined, highlighting the fragility of recent gains. Operating EBITDA margins followed a similar pattern, falling 2% month over month and 4% year over year.

Regional trends tell a story of uneven momentum. The South and Great Plains regions posted the strongest operating margin improvements year to date — up 8% and 11% over 2024,

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