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AHA Reports Negative Financial-Operating News
Staff Reporters
Many hospitals are seeing the effects of the economic downturn. More than 30% of respondents to a recent American Hospital Association [AHA] survey reported a significant decline in patients seeking elective care and 40% reporting a drop in admissions overall. The majority of hospitals also noted an increase in patients unable to pay for care.
DATABANK Results
The report is based on survey results from 736 hospitals and information from DATABANK, a Web-based reporting system used in 30 states to track key hospital trends:
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Falling profit margins to [-] 1.6% – from [+] 6.1% year-over-year
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Medicare and Medicaid patient care is growing
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Reducing administrative costs (60%), staff (53%) and services (27%)
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Borrowing for facility and technology improvements has decreased
Capital investments are also being postponed or delayed:
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56% delayed plans to increase capacity;
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45% delayed purchase of clinical technology or equipment; and
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39% delayed investments in new information technology.
Assessment
The report was based on data from two major sources. A survey, “The Economic Crisis: Impact on Hospitals,” provides data from 736 hospitals from late October 2008 through Nov. 10, 2008. DATABANK figures represent early results from 557 hospitals reporting data for July through September 2007 and 2008 as of Nov. 11, 2008.
Conclusion
And so, your thoughts and comments on this Executive-Post are appreciated. How [much] has the economy affected your healthcare organization?
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Filed under: Health Economics, Health Insurance, Healthcare Finance, Monthly Reports, Research & Development | Tagged: AHA |
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