Visualizing purchased services spending is essential for controlling costs at any hospital or health system. After all, purchased services comprise 45 percent of a hospitals non-labor budget. The ability to drill down on spending across a well-organized hierarchy of more than 1,200 potential purchased services categories provides an even more precise picture of how dollars are being spent. Spending data alone, however, offers only directional insights.
Medical malpractice is a phrase that makes doctors across the nation blanch. Whether from claims that are justified or frivolous, our society is all too happy to pull the trigger on initiating litigation against health care providers who we feel havent done their job correctly.
Mobile phones, personal tablets, and high tech devices are part of our everyday lives. This is also becoming the case in the healthcare industry. The term mHealth, which is short for mobile health, is defined according to HIMSS as the use of mobile and wireless devices to improve health outcomes, healthcare services and health research. Employees and organizations alike can benefit from increased productivity and lower costs from mobile device usage in the healthcare space.
The hospital CIO is in the middle of the perfect storm. Regulatory forces such as Meaningful Use and ICD-10 demand that they accomplish Herculean efforts in short time frames with limited staff. Growing security threats force hospitals to adopt stringent risk and security postures, which often make it harder to accomplish larger projects.
An article published yesterday by Modern Healthcare forecasts growth in healthcare hiring this year in many healthcare provider segments, but not in acute care. With diminishing revenues and a shift in patient preferences towards outpatient facilities and ambulatory surgery centers, acute care facilities will either freeze hiring or consider small layoffs. At Valify we expect hospitals to take additional steps to address their shrinking margins by identifying outsourcing opportunities, placing pressure on procurement teams to get ahead of the curve in identifying and evaluating these purchased services.