Academic medical centers identify performance-improvement priorities
Editor's Note Amid a decline in the financial performance of academic medical centers (AMCs), McKinsey surveyed 100 of these institutions about what actions they are taking to improve, according to an April 12 report in Becker’s Hospital Review. According to the Becker’s article, the top 10 “operational levers” indicated by…
ASCs forecasted to continue seeing major expansion in orthopedic, spine procedures
Editor's Note Ambulatory surgery centers (ASCs) specializing in orthopedic and spine procedures are seeing a surge in growth, Orthopedics This Week April 2 reports. An "Impact of Change Forecast" report from Sg2, a Vizient Inc company, forecasts a 12% increase in orthopedics/spine ASCs in the next 5 years and a…
Editorial: OR Business Management Conference tackled financial challenges, technological innovations
This past February, the OR Business Management Conference, held in Phoenix, Arizona, brought together business managers of all walks of life. The intimate event was once again a symbiotic blend between financial- and business-centric education and high-quality networking. The education offered for seasoned and new business leaders alike, perhaps more…
A look back: The business manager role in a changing healthcare environment
Takeaways • Perioperative business managers can make significant contributions to a hospital’s financial health, but more than half of hospitals do not have this role. • Business managers’ earnings have increased in the past 5 years, while the number of direct reports has risen slightly. • The bachelor’s degree has…
Hybrid OR: Continued advancement in diagnostic, surgical care
The concept of the hybrid OR was born in the 1990s, but healthcare institutions were originally slow to adopt the model due, in part, to the initial sizable investment required. While there was a steady uptick in adoption around 2008, today there are still only some 100 hybrid ORs in…
Survey reveals how nurses would like to allocate their shift hours
Editor’s Note Nurses would like to significantly increase time spent with patients, coaching fellow nurses, and pursuing professional growth, according to survey data published on May 26 by McKinsey & Company. The survey included questions regarding how nurses spend their time during a typical shift (broken down across 69 specific activities)…
Third quarter earnings: UHS, Tenet see financial success; CHS, HCA face challenges
Editor's Note Two major hospital systems–Universal Health Services (UHS) and Tenet Healthcare–saw improved third-quarter profits in 2023, but Community Health Systems (CHS) and HCA Healthcare did not see similar upward trends, HealthLeaders November 3 reports. According to the article, rising demand in services at UHS drove third-quarter earnings up 6.8%…
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…
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