Industry News: January 2018 Recap

Constantly evolving hospital, health systems, and hospital operations and management news and trends are hard to keep up with, so we’re doing the heavy lifting for you. January was filled with predictions for 2018, but we’ve identified the highlights.

The hospital C-Suite is changing
How the hospital C-Suite operates and what it values is undergoing a shift. According to a white paper released by SK&A, consolidation among hospitals is changing the makeup of the C-suite and changing the decision-making process, which is having an impact on vendors. Hospital CFOs are also stepping into the spotlight, identifying a need for more tools that help them cut costs. The focus in that area largely lies in data and analytics, and how executives can better use and understand information and trends to optimize hospital operations.
Source: HealthExec & Hospital CFO Report

Making use of data is proving to be a challenge
Now that the secret’s out about how analytics tools can help hospitals run more smoothly and reduce costs, the industry is hitting an implementation roadblock. Although hospital execs understand they need to be using the data they have, 70 percent of finance executives in a recent survey reported they don’t have the proper tools in place to do so. They’re also feeling the pressure, according to a Kaufman Hall survey that showed 90 percent of CFOs believe their organizations could do more in the coming year to develop data-driven strengths.
Source: Health IT Analytics & Healthcare Informatics

Value-based care identified as a top trend
Value-based care was present across 2018 healthcare predictions list as we moved into the new year, emerging as a model that makes the most sense for today’s hospital landscape. Per Healthcare Analytics News, “It is certain that data and analytics will play a key role in shaping the value-based contracts that are essential components of these new reimbursement models.” The key to this shift appears to lie in analytics data, and using it to predict and forecast, helping to run a hospital in the most efficient way possible.
Source: Healthcare Analytics News 

A shift in priorities is beginning to have an impact on the ways hospitals currently operate, and hope to, in the future. These changes need to come from the C-suite down to continue toward the goal of providing the best care possible.

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