The Business of Surgery Postoperative mortality rates were twice as high (1.4% vs 0.73%) for patients having hip and knee replacements in hospitals that were the least specialized in orthopedic surgery compared to those that were the most specialized in a study published in the British Medical Journal. Patients at the most specialized hospitals…
Which surgical services are likely to grow and which are likely to migrate? What is coming in new technology? If you're adding or renovating ORs, how can you plan for an "OR chassis" that will adapt to changing needs? Fred Bentley, MPP, MPH In the keynote at the OR Business…
The tough economy has meant leaner budgets and fewer OR staff vacancies to fill. But OR leaders know they still face staffing challenges in the years ahead. Eventually, nurses who have been asking for more hours will start to retire. ORs need to keep the pipeline open for new candidates,…
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…
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…
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…
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.…
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…
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,…
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…
