Which Hospitals Are Cutting Costs?

Posted on May 2, 2012 by Dr. David Edward Marcinko MBA MEd CMP™

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And … Where Are They Doing It?

This infographic shows that about only 10% of US hospitals have aggressively cut costs during the recession.  Most hospitals have kept costs close to inflation with 1-5% annual increases.

Of those who aggressively cut costs, many service lines contributed, though general surgery was the largest, followed by neonatal, obstetrics, and infectious diseases.

Conclusion

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8 Responses

  1. Clyde, on May 2, 2012 at 7:16 PM said:

    3 reimbursement changes for hospital performance

    Hospitals are bracing themselves for some significant reimbursement changes under health reform that could hit their pocketbooks.

    For example, the American Hospital Association (AHA) outlined top issues in its 2012 advocacy papers, including how hospitals will be measured for performance this year and beyond.

    http://www.fiercehealthcare.com/story/providers-have-mixed-feelings-cms-proposed-hospital-payments/2012-04-27?utm_medium=nl&utm_source=internal

    Clyde

    Like

  2. Beverly, on May 22, 2012 at 10:17 AM said:

    Yeah! But … Insurance Dictates Hospital Costs

    http://healthcareisbusiness.blogspot.com/2012/04/do-math-insurance-dictates-hospital.html

    Beverly

    Like

  3. Magellan, on May 29, 2012 at 7:15 PM said:

    Hospitals lower prices for patients paying cash

    Many hospitals and physicians are offering large discounts if patients pay in cash and don’t use their health insurance, the Los Angeles Times just reported.

    For example, a CT scan of the abdomen costs about $2,400 for patients insured by Blue Shield of California, while the Los Alamitos (Calif.) Medical Center cash price is only $250, according to the article.

    Another local California hospital charges insured patients $415 for blood tests that cost only $95 in cash.

    http://www.latimes.com/business/la-fi-medical-prices-20120527,0,4627745.story

    Cash is most always … king!

    Magellan

    Like

  4. Dr. Jamison, on June 9, 2012 at 11:08 AM said:

    Hospital Costs – Historical Review

    Here is an interesting essay – “Two Hundred Years of Hospital Costs and Mortality — MGH and Four Eras of Value in Medicine”.

    http://www.nejm.org/doi/full/10.1056/NEJMp1202628?query=TOC

    Enjoy all you been counters.

    Dr. Jamison

    Like

  6. Xena, on July 10, 2012 at 12:04 PM said:

    No silver bullet for cost-saving measures in healthcare

    http://www.physbiztech.com/news/no-silver-bullet-cost-saving-measures-healthcare

    Ya think?

    Xena

    Like

  7. Laura Paden, on July 22, 2012 at 1:42 AM said:

    The Transition to Outpatient of Coronary Angioplasty (PTCA)

    This infographic shows an example of how US hospitals are lowering the cost of care by transitioning procedures that have traditionally been inpatient admissions into the outpatient setting.

    Payors (including Medicare, employers, and the general public) are benefiting from much of the savings that have been created. Being on the leading edge of this transition is especially critical for hospitals looking to position themselves as cost efficient health care providers.

    Laura Padden
    Media relations for McKesson Health Solutions
    TECHMarket Communications
    (818) 597-0480

    Like

  8. Bernard, on May 10, 2013 at 11:23 AM said:

    PRICES

    With rare exceptions hospitals cannot and will not tell anyone their prices in advance of admission; but they may tell you their charges. Fortunately, market forces may be coming to the rescue.

    Why?

    As more consumers enroll in health plans with high deductibles and large copayments, there is demand for information about actual prices. And, where there is demand, supply usually follows.

    Some private insurers are beginning to post pricing comparisons on their websites, allowing consumers to determine which hospital is likely to offer lower out-of-pocket costs. Insurers are naturally reluctant to disclose the actual amounts they have contracted to pay hospitals, so this information is somewhat nebulous.

    Bernard

    Like

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