New Hospital IQ Survey: Hospital Leaders Say Better Technology Needed to Capture Surgical Revenue Opportunities, Meet Patient Care Mission
Senior Hospital and Perioperative Leaders Share Strategic Surgical Objectives for Coming Year
NEWTON, MA, March 19, 2018 – Hospital IQ, the leading provider of a cloud-based operations planning and management platform that helps hospitals reduce operational cost, increase revenue and improve patient access and quality of care, today shared the results of a new survey of U.S. hospital and perioperative leaders regarding their strategic surgical objectives for the coming 12 months. These leaders shared that better technology tools are needed to enable them to strategically increase both surgical revenue and capacity to optimize one of a hospital’s most lucrative functional areas and leverage resources towards growth. The Hospital IQ survey was conducted in January 2018 among senior hospital and perioperative leaders at hospitals and health systems across the U.S.
Surgical leaders across the U.S. struggle with common challenges, including how they get timely access to, and use, existing data to better utilize OR blocks and hold surgeons and staff accountable for OR performance. At the root of these issues is a lack of sophisticated technology that can provide accurate and transparent data trusted by surgeons and staff. To meet strategic objectives, hospital leaders will need to invest in better technology and establish a data-driven perioperative culture.
“In today’s era of shrinking hospital margins, the importance of the OR as a key financial driver for hospitals and health systems is greater than ever before,” said Rich Krueger, CEO, Hospital IQ. “Every hospital and every OR leader is working to increase volume and efficiency – otherwise, a hospital’s mission to provide outstanding patient care will suffer. Trying to manage the OR with manual spreadsheets and trial-and-error experimentation falls well short of the mark. Hospital IQ’s solutions allow perioperative leaders to use the wealth of data at their fingertips, as well as their institutional policies and practices, to better understand and overcome the operational shortcomings that affect their ability to deliver outstanding care, while meeting growth and cost goals.”
Key Survey Findings
- Growing surgical capacity is a key strategic objective of hospital and OR leadership:
- Sixty-five percent of respondents reported increased surgical capacity as their top objective in the coming 12 months. Increasing OR utilization and improving labor productivity were the two next most critical objectives.
- Low block utilization and high labor costs are pervasive in the perioperative space:
- Seventy-one percent of respondents reported less than 81% surgical block utilization and 32% of respondents estimated $100,000 or more per full time employee is wasted annually in staffing costs due to underutilized OR blocks.
- Hospital teams lack the tools to identify opportunities for better OR resource allocation:
- Forty-six percent of respondents reported using Excel spreadsheets to schedule surgical blocks and only 35% reported they consistently have the data needed to make OR staffing changes.
- Hospital leaders acknowledge the importance of the right technology tools to help them solve this critical OR staffing challenge:
- Seventy-six percent of respondents indicated they believe better technology is essential to achieve their hospital objectives for the next 12 months, with 63% estimating they will invest an additional 6% or more in operational analytics tools in the next three years.
Hospital IQ for Perioperative helps hospitals:
- Develop optimized block and OR schedules that are easier to manage and understand the overall performance.
- Automate and make more precise the staff planning and assignment process, complementing traditional time and attendance systems, such as Kronos and API.
- Provide service line leaders the ability to dynamically manage their specialties and grow volume.
- Use “what-if” modeling to predict and manage the impact of operational changes without costly trial and error.
To learn more about the Hospital IQ perioperative platform, visit hospiq.com.
About Hospital IQ
Hospital IQ provides an operations planning and management software platform that gives hospitals and health systems the visibility and actionable insights they need to make informed, data-driven operational decisions that improve patient access, clinical outcomes and financial performance. Our cloud-based software platform combines advanced data analytics, machine learning and simulation technology with an easy-to-use, intuitive user interface to deliver optimized surgical resource alignment, patient flow and scheduling capabilities. Leading institutions including Boston Medical Center, Mercy, and University Hospitals of Cleveland rely on Hospital IQ to help them make the right operational decisions the first time, every time. To learn more, visit http://hospiq.com.