To be a leader today you must be competent to understand the drive of financials, says Brandon Bennett, DNP, APRN, CNOR, CNS-CP, CSSM, CNAMB, NE-BC, adding that “optimization is critical.” Bennett discussed the significance of understanding financial management in the OR in the pre-conference workshop on Sunday at the OR…

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Editor’s Note Three panelists weighed in on which trends are impacting profitability in an OR Business Management Conference session titled, "Trends in the OR—What's Driving Profitability?" What is the area most affected by last year’s high inflation and supply shortages? Staffing expenses and shortages are continuing to "put pressure on…

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Editor's Note Adding more anesthesiology residency positions, even without federal funding, may help hospitals save staffing costs and address shortages of anesthesia personnel, finds a study presented January 27 at the American Society of Anesthesiologists’ ADVANCE 2023, in Orlando, Florida. Researchers from the University of Pittsburgh Medical Center compared the…

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Editor's Note Inaccurately recording anesthesia start times is common and results in significant lost billing time for anesthesia practices and medical centers, finds a study presented January 26 at the American Society of Anesthesiologists’ ADVANCE 2023, in Orlando, Florida. The researchers, from Northwestern University McGaw Medical Center in Chicago, analyzed…

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For healthcare, and for hospitals and health systems especially, 2022 was one of the years with the worst financial performance seen in decades. Monthly reports throughout last year depicted rising costs, mostly exacerbated by the crippling staff shortages and a reliance on more expensive contract staff, and diminished profit margins.…

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Over my 40-year career—after starting at the bedside in surgical intensive care, moving to emergency medicine, and then to perioperative services—I have been fortunate to progress into executive leadership positions in academic medical center health systems and community hospitals, consult with a top global advisory firm, and now work in…

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Editor's Note Hospitals and healthcare systems across the nation continue to face the staffing challenges which emerged from the COVID-19 pandemic, reports January 9 Becker’s Hospital Review. This issue is a top priority for healthcare leaders who want to maintain adequate staffing in order to provide the best patient care.…

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Editor's Note Healthcare systems across the nation were still operating with negative margins in November of 2022, according to Kaufman Hall’s December National Hospital Flash Report, noted the American Hospital Association on January 4. The report looked at data from over 900 hospitals and noted that median operating margins for…

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Recent analysis provided by the Association of Medical Device Reprocessors (AMDR) indicates that US hospitals could save up to $2.28 billion a year by maximizing the use of reprocessed single-use medical devices. According to the report, in 2020, US hospitals saved $372 million just by reprocessing single-use medical devices, as…

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Two major challenges that perioperative leaders are facing today are labor and supply costs. These two areas also happen to be the largest and second largest expense categories at most hospitals, making the challenges even more pronounced. What actions can leaders put in place to ensure that clinical staff are…

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