Hospital finances rebounded in the first quarter of 2009, according to one source. Thomson Reuters data reported in August 2009 found total margins were up. About 30% of hospitals were in the red, which though still bad, was a big improvement from 50% in the third quarter of 2008. The…

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Everything from washers to cars comes with a warranty, so why not health care? Geisinger Health System in Danville, Pennsylvania, introduced health care warranties with an innovative program called ProvenCare. Under the 90-day warranty, one cost covers the surgery and 90 days of follow-up treatment. Geisinger absorbs any additional costs…

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The economy is hitting hospitals hard. For elective surgery, the picture is only starting to emerge. Hospitals' median total margins shrank to near zero in the third quarter of 2008—an unprecedented low, according to a Thomson Reuters analysis of data from 439 hospitals. This was primarily because of a drop…

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Second of a 2-part article. The OR consumes the most expensive and often the highest volume of supplies in the hospital. OR managers want to make sure their chargemasters are up to date so patient bills will accurately reflect services provided. They also want to make sure they are complying…

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Physician preference savings opportunities Price improvement: 5% to 10% Standardization (fewer companies or brands): 20% to 25% Utilization (changing consumption behavior): 65% to 75% Source: Wellspring Partners. As one of the hospital's biggest revenue and cost centers, ORs are a big target for expense reduction in these tough economic times.…

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There's no question health care is sharing the nation's economic woes. Hospitals and other facilities face shrinking revenue, tighter credit, and ever-rising costs. "The economy is a huge problem, but for supply chain professionals, it could be the opportunity of a lifetime," says Jamie C. Kowalski, MBA, FACHE, FAAHC, FAHRMM,…

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Managing the costs of procedures with implants continues to be a juggling act for OR directors and business managers. Total joint replacements, once profitable, have seen prices climb while Medicare reimbursement slides. Some spinal procedures still have a positive margin because the surgery is more often performed in younger patients…

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Spinal surgery is a costly specialty that strains OR budgets. The wide variation in techniques and costly technology make it difficult to manage. Challenges go beyond rods and screws. An array of biologics, such as bone morphogenic protein (BMP) and demineralized bone matrix (DBM) can add thousands of dollars to…

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With no bailout in sight, health care needs to invent its own version of the hybrid car—become more efficient and cost-effective—to survive the economic downturn, one consultant quips. The times will challenge OR leaders to do even more to reduce costs and streamline operations. "We will all need to pitch…

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Health care facilities like other businesses face tough economic headwinds. Tightening credit, plummeting investment values, and the prospect of less philanthropic giving make for a difficult financial climate. There's also likely to be more uncompensated care as unemployment rises, and state Medicaid programs cut back. OR directors and business managers,…

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