Healthcare Systems Face Supply Chain Challenges and Changes

Michigan State University In a comprehensive review of supply chain challenges, changes, and strategies within the American healthcare system, Michigan State University cites a range of studies, expert opinions, and industry data to highlight major concerns. The review notes the unique nature of the healthcare supply chain, as well as the importance of accurate data collection and cost-saving initiatives. This …

California Bill Requires Hospitals to Maintain PPE Supply

Healthcare Finance A bill passed in California requires hospitals to maintain a 45-day supply of PPE, the nation’s first bill of its kind. Passed in late 2020, this law requires that “hospitals, skilled nursing facilities, dialysis clinics and medical practices that are part of an integrated health system” throughout the state stockpile an emergency supply of unexpired, unused PPE, as …

Finance and Reimbursement Initiatives Provides Competitive Edge

The Center for Health Affairs The Center for Health Affairs, an organization based in Northeast Ohio, is providing a variety of initiatives for area healthcare facilities. These initiatives are focused on helping finance and reimbursement professionals perform their duties more effectively, supporting the financial side of hospital operations that allow for better patient care. The initiatives help educate healthcare staff …

Hospitals are Rethinking Supply Waste in the Wake of Pandemic Costs

The Conversation Nearly a quarter of US healthcare spending is related to wasted supplies, a staggering figure estimated between $760 and $935 billion. The persistent COVID-19 pandemic has created increased financial pressure on healthcare facilities across the industry, leading to lower margins, reduced revenue, and even more supply waste. As this troubling information continues to emerge, many healthcare facilities are …

Supply Chain Difficulties with PPE Inventory

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 …