Industry News: September 2017 Recap

Staying current on hospital, health systems, and hospital operations and management news and trending topics can be a challenge in our constantly innovating industry. As we begin October, let’s take a look back at some of September’s most thought-provoking stories:

New Survey Sheds Light on Hospital Cost Reduction Goals
A recent survey revealed that 51% of hospital and health system executives said they have either no cost reduction goals or a goal of only a 1% to 5% reduction in the next five years. Most hospitals reported being less than thrilled with their cost cutting efforts thus far, as 3/4ths described their cost transformation success has been “average to below average.” Source: HealthExec.

How Much Money Will It Take to Solve Hospital and Health Systems’ Biggest Problems?
Health IT Analytics explored an interesting question; how much money is enough of an investment to solve hospital and health system’s biggest problems? The number they settled on is about $10 billion, distributed among tools to help hospitals get the most of big data analytics, improve payment reform, and reduce productivity shortcomings. Source: Health IT Analytics.

The Healthcare Industry and Reaping the Benefits of Big Data
More data was released this month about hospitals and their relationships with big data and analytics. A recent survey showed that 56% of hospitals lack big data and analytics plans, but that doesn’t mean that they’re not recognizing instances where they could be beneficial. The largest roadblock lies in actual execution, with 70% of participants saying constrained resources are preventing them from implementing plan, while 41% feel that they simply don’t have time. Source: Health IT Analytics.

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