Business

Latest Issue of OR Manager
December 2017

Analysis predicts hip replacement implant market at $9.1B by 2024

Editor's Note A Transparency Market Research analysis predicts the global market for hip replacement implants will reach $9.1 billion by 2024, with a 3.9% compound annual growth rate, the March 17 Becker’s Spine Review reports. Fueling the growth are an expanding geriatric population, an increasing incidence of osteoarthritis, and technological…

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By: Judy Mathias
March 21, 2017
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ECRI Institute releases free mergers and acquisitions infographic

Editor's Note ECRI Institute (Plymouth Meeting, Pennsylvania) on February 21 released a free mergers and acquisitions infographic.  The infographic is intended to help hospitals and health systems who have completed a merger or acquisition to identify supply-item savings and opportunities and develop a consolidated medical equipment strategy. Registration required.   You…

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By: Judy Mathias
February 22, 2017
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Conference takes OR business leaders to the next level

More than 400 surgical services directors, business managers, and thought leaders gathered in New Orleans in early February for the 2017 OR Business Management Conference. They came to explore new technology, learn from experts in the field, and network with their peers. They left with a wealth of ideas on…

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By: Elizabeth Wood
February 17, 2017
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Hospital teaching status and Medicare payments, outcomes

Editor's Note Risk-adjusted Medicare payments for an episode of surgical care were similar at teaching and nonteaching hospitals for three complex surgical procedures, this study finds. Teaching vs nonteaching hospital payments included: abdominal aortic aneurism repair−$29,946 vs $27,993 pulmonary resection−$25,407 vs $26,813 colectomy−$34,949 vs $30,352. Very major teaching hospitals had…

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By: Judy Mathias
February 10, 2017
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Building a business case for new technology

OR leaders besieged by surgeons and others clamoring for the latest innovations must ensure that the business case for any new technology makes good sense both for patients and the organization’s bottom line. Building a strong business case requires careful assessment, clear writing, and a strong partnership with the finance…

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By: OR Manager
January 18, 2017
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Collaboration spells success for award winner

The inaugural Best in OR Business Award will be presented at the 2017 OR Business Management Conference in New Orleans on February 1. The award recognizes an individual who demonstrates strong business acumen with the ability to make complex logistical decisions, meet scheduling demands, think strategically, and focus on the bottom line.…

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By: OR Manager
January 18, 2017
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Reimbursement denials diminish with more precise precertification

With no increases in reimbursement on the healthcare horizon, the leadership team at Advocate Good Samaritan Hospital in Downers Grove, Illinois, knew they needed to maximize revenue capture. The team, including Katrina Spears, MAOL, manager of business and informatics, used Lean methodology to improve precertification and reduce denials, resulting in…

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By: OR Manager
January 18, 2017
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Adding new business to the ASC, one procedure at a time - Part 1

An ambulatory surgery center (ASC) looking to expand its market may want to add new procedures, but only after careful consideration of resource investment versus ultimate benefit. In the first of a three-part series, OR Manager explores surgical specialties that appear to show promise for the outpatient setting. One of…

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By: OR Manager
January 18, 2017
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Surgical receipt raises quality standards, lowers costs

Increasing costs and shrinking margins have continued to pressure business managers and senior hospital leadership to rethink strategies for raising surgeons’ awareness of product and nonlabor costs within the OR. Often providers are asked to cut costs but are unaware of the actual costs of the products they use. In…

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By: OR Manager
December 14, 2016
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Variation in hospital and surgeon payments for general vs orthopedic procedures

Editor's Note Hospital and surgeon payments for routine general and orthopedic surgical procedures vary greatly, this study finds. Hospital payments averaged $12,744 for general surgery procedures and $22,386 for orthopedic procedures. Orthopedic surgeon reimbursement on average was twice as high as general surgeon payments ($2,349 vs $1,191). Postoperative complications resulted…

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By: Judy Mathias
December 2, 2016
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