Nearly half of hospital materials managers expect supply spending at their hospitals to decline over the next year, according to a news release from Novation.
The finding was part of a Novation survey of hospital materials managers, which also found that their top three concerns were reimbursement cuts, the impact of health care reform and reduced operating margins.
Other key findings were:
- 48 percent said their hospital's financial situation has worsened since the recession ended, while 20 percent said it had improved.
- 65 percent have seen an increase in costs from meeting new patient safety and environmental standards.
- 94 percent predict either a decrease in staffing or no change at all, while only 6 percent predict an increase, mainly in nursing.
- 33 percent expect an increase in supply spending next year, but 45 percent expect a decrease.
- 43 percent predict an increase in surgical procedures, of which 51 percent see spending increases in orthopedic products, 27 percent in spinal products and 36 percent in cardiology products.
- 54 percent expect purchases of new technology to increase in the next year, while 48 percent expect an increase in pharmacy spending.
- To reduce costs, 86 percent are focusing on standardization, 79 percent on process improvement, 60 percent on utilization and 72 percent on commitment to their GPO.
Read the Novation release on materials managers.
Read the full report (pdf).
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