Table 3. Regression Models, Likelihood of New Public Health Emergency (PHE) Distress (Including COVID-19 Relief Funds)^a.

	Odds ratio (95% CI)b	P value	Adjusted probability of new PHE distress, %
Constant	0.33 (0.19-0.57)	NA	NA
Hospital type [reference = short-term acute care]	NA	NA	17.9
Critical access hospital	0.64 (0.45-0.90)	.01	12.3
Rurality [reference = rural]	NA	NA	15.0
Urban	1.04 (0.83-1.31)	.72	15.6
Highly urban	1.26 (0.98-1.61)	.07	18.1
Health System [reference = no]	NA	NA	18.7
In a health system	0.79 (0.63-0.99)	.04	15.4
DSH status [reference = no DSH]	NA	NA	14.2
Medicare-only	1.20 (0.81-1.78)	.37	16.5
Medicaid-only	1.34 (0.99-1.80)	.06	18.0
Medicare and Medicaid	1.18 (0.84-1.65)	.35	16.2
Uncompensated care as a proportion of operating expenses [reference = 0%]	NA	NA	18.7
<5%	0.81 (0.49-1.33)	.40	15.8
5-<10%	0.75 (0.45-1.24)	.26	14.8
10-<15%	0.98 (0.58-1.66)	.95	18.5
≥15%	1.03 (0.60-1.78)	.92	19.2
PHE funding as a proportion of operating expenses [reference = 0%]	NA	NA	22.3
>0%-<2%	0.74 (0.60-0.93)	.01	17.7
2%-<5%	0.56 (0.44-0.71)	<.001	14.1
≥5%	0.47 (0.37-0.61)	<.001	12.1
Black population [reference = <20%]	NA	NA	16.0
≥20% Black population	1.15 (0.90-1.46)	.28	17.8
Population in poverty [reference = <20%]	NA	NA	15.8
≥20% population below the poverty line	1.26 (0.98-1.63)	.07	19.0
Hispanic population [reference = <20%]	NA	NA	15.5
20% Hispanic population	1.30 (1.05-1.60)	.02	19.1
Teaching hospital [reference = no]	NA	NA	15.8
Teaching hospital	1.13 (0.92-1.38)	.25	17.4
Ownership [reference = not-for-profit]	NA	NA	17.5
For-profit	0.57 (0.44-0.72)	<.001	10.8
Government	1.10 (0.88-1.37)	.40	18.8

Abbreviation: DSH, disproportionate share hospital; NA, not applicable.

^a PHE distress is defined as having both (1) a negative 2020/2021 net operating income and (2) a 2020/2021 net operating income that was less than that hospital’s pre-2020 net operating income.

^b Odds ratios greater than 1 indicate a higher likelihood of experiencing PHE distress.