Cost report takeaways: Behavioral health hospitals faced a tough 2022

Here are five takeaway estimates from the cost reports of 424 facilities that reported for complete fiscal years 2021 and 2022. Find hospital financial data and more in Modern Healthcare's Data and Insights.

1) Median net patient revenue increased.

2) Net patient revenue was concentrated at the top.

3) Operating expenses increased faster than net patient revenue.

4) Median operating margins kept falling.

5) More than half of facilities' operating expenses went toward salaries.

Data come from cost reports for 424 behavioral health facilities (labeled as “psychiatric” by the Centers for Medicare and Medicaid Services) that reported complete fiscal years for both 2021 and 2022, and reported total patient revenue greater than zero.