Supply Chain Dive Citing reports generated across the summer of 2020, numerous healthcare facilities (especially smaller, more rural hospitals) are facing shortages of PPE inventory related to supply chain issues across the healthcare industry. Get Us PPE reported that 77% of surveyed facilities had no remaining supplies of at least one type of PPE. Of these affected facilities in rural …
10 Things to Know About 2021 Hospital Finance
Becker’s Hospital CFO Report The ongoing impact of the COVID-19 pandemic has spread across the healthcare industry, including many key areas of hospital finance. In a recent breakdown from Becker’s Hospital Review, ten major points were presented, many focused on revenue losses, rural facility closures, and reduced operating margins. These reports come from various sources, which reviewed hospitals of multiple …
Human Resource Management and Hospital Health
Sage Journals Noting a gap in hospital-focused studies of people management and high-commitment management among the existing research, a 2018 paper titled “HRM and the health of hospitals” reviews the complex role that HRM plays in healthcare. In exploring a “HRM-performance nexus,” the authors show connections between HRM policies, the actions of HR and management professionals, and the overall performance …
Supply Chain Market Forecast Looks to Digitization, COVID-19 Impact, and Beyond
Yahoo! Finance A recently released forecast from Reportlinker.com, aptly titled “Digitization in Logistics Supply Chain Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Component; Organization Size; Industries,” takes a comprehensive view of recent events and emerging trends to predict supply chain changes over the next 5 years. The changing landscape of technology is expected to change global …
Healthcare HR Managers Face Challenges
Excelforce Human resource managers in the healthcare industry face persistent challenges across numerous aspects of the industry. Based on multiple studies conducted in 2017 and beyond, Excelforce identified five key areas of difficulty in the healthcare space. Issues including high turnover, ACA compliance, medical staffing, labor and payroll costs, and difficulty with training and certification continue to cause disruptions in …
Supply Chain Management Issues Cost Hospitals Billions
Healthcare Dive According to a 2018 study of over 2000 hospitals, wasteful spending and supply chain mismanagement are responsible for billions in losses across the American healthcare system, with year-over-year percentages getting dramatically worse. Navigant reported that in 2018, hospitals spent $25.7 billion on unnecessary supplies and associated operations, an 11.8% increase over the previous year, while also missing critical …
Americans Tend to Lack Healthcare Finance Literacy
Forbes A recent survey conducted by Polygenius has yielded some disappointing results about American understanding of healthcare finance, their own insurance policies, the broader context of how the U.S. system works, and even the ability to identify basic portions of the Affordable Care Act. Despite a global pandemic and an election season that included healthcare related talking points, the survey found …
HR is Essential in the Healthcare Industry
EMR Industry The importance of Human Resources in the healthcare industry is often overlooked, but the benefits provided by a well-trained, knowledgeable HR staff are essential the successful operation of any healthcare facility. These professionals are responsible for much of the “behind the scenes” work that keeps hospitals and other facilities running, including legal, strategic planning, worker benefit management, new …
Healthcare Supply Chain Looking to Value-Based Contracting
Healthcare Finance A recent survey of 200 C-suite healthcare executives and supply chain leaders yielded valuable insights about value-based contracting. The majority of respondents prioritize value-based contracting with suppliers, and are also interested in more suppliers providing such options. While a small percentage of those surveyed are already using such contracts, many also responded that they don’t have enough information …
Strong Finances Earn Health Systems Strong Ratings
Becker’s Hospital CFO Report Based on reports from several leading finance analysis groups, a collection of 12 healthcare systems from across the United States was recently featured by Becker’s Healthcare, each touting a AA rating. The report reviews the stability and overall financial position of each, and predicts growth and future performance based on the credit rating agencies evaluating each …
