High labor costs, weak margins continue at nation’s nonprofit hospitals
Editor's Note An October 2023 report from Fitch Ratings finds that nonprofit hospitals will continue to have weak operating margins into 2024 and need to control labor costs in order to return to stronger margins, Chief Healthcare Executive October 5 reports. Some highlights of the report include: Median operating margins…
Surgical scorecards help minimize costs without impacting outcomes
Editor's Note This review published by the Journal of the American College of Surgeons shows that surgical scorecards, or cards that summarize information regarding the cost of surgical items and procedures along with comparisons to similar operations, have been shown to significantly reduce costs without impacting clinical outcomes when presented…
Positive margin trends for hospitals in new National Hospital Flash report
Editor's Note The September 2023 National Hospital Flash Report, published by Kaufman Hall on October 2, analyzed data from August 2023 and revealed that while margins are still below historic levels, hospital performance has continued to steadily improve. According to the report: "While hospital operating margins remain below historical levels,…
Business session: Profitability in the OR—Benchmark Your OR's Performance
Editor's Note “Has your CNO [chief nursing officer] ever said you are the CEO of your department?” Jessica Gruendler, DNP, senior director of nursing, Perioperative Services, at Dignity Health, posed to OR Manager Conference attendees at the start of this session in a packed room with standing room only. A…
Panel: Trends in the OR—What's driving profitability?
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…
Kaufman Hall report: Hospitals report negative margins, November 2022
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…
Deloitte surveys 2023 outlook for healthcare systems, plans
Editor's Note Hospital leaders are preparing for what is expected to be a turbulent 2023, according to results of a December 13 survey from the Deloitte Center for Health Solutions, reports December 19 Healthcare Purchasing News. The majority of health system leaders said that staffing challenges (85%) and inflation (76%)…
Hospitals' margins remain negative in November, 10th consecutive month
Editor's Note Hospitals and healthcare systems across the nation experienced their 10th consecutive month of negative profit margins, according to data Kaufman Hall released in a report on November 30, the American Hospital Association November 30 reports. The report notes that the pressures of increased expenses is a key driver…
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