Andrew Schreffler’s Post

According to a recent report, hospital finances improved in April compared to both the month prior and the same time frame last year. The operating margin index at the start of the year was 4.6%, a nice increase from 2% last December. However, outpatient revenue, operating room minutes, daily emergency department visits, etc. are putting more pressure on US hospitals to effectively manage supplies and staffing to meet this growing #healthcare demand. Adopting a wide variety of proactive cost-saving and growth strategies like scaling outpatient footprint / revamping discharge transition processes are maintaining financial #health.

Higher operating margins, expenses at US hospitals Year-to-date operating margins at individual US hospitals rose to 6.5% in July, compared with 4.9% in June, while health systems' year-to-date operating margins declined to 2.1%, compared with 2.3% in June, according to a report from Strata Decision Technology. Hospitals' year-over-year outpatient visits and inpatient admissions rose, as did drug, supply and labor expenses. https://lnkd.in/eYvuMYdj

The results of the 2024 National Inpatient Experience Survey launched today, shedding light on the experiences of more than 12,000 people in acute hospitals across Ireland. The survey, from the National Care Experience Programme, is a joint initiative between HIQA, the Health Service Executive and the Department of Health - Ireland. Some of the key findings from those who took part: The majority of patients (85%) rated their overall experience of hospital care as good or very good. - 83.8% reported they always felt treated with respect and dignity - 79.1% always had confidence and trust in hospital staff - 78.7% reported adequate pain management - 79% felt fully confident in the safety of their treatment and care. Patients also highlighted areas of care for improvement:  - 19.7% said they were unable to find staff to discuss their worries  - 15.3% reported not receiving enough information on managing their condition post-discharge - 13.4% said their family did not have enough opportunities to talk to a doctor. Thank you to everyone who participated in the National Inpatient Experience Survey 2024, and to your families and carers. This survey ensures that your voices are heard. By putting the voice of the patient at the centre of acute healthcare, we can make sure that the needs and wishes of the people who matter most are met.  Thanks also to the staff of all participating hospitals who helped to make this survey possible. To find out more, watch our video or read the results at: www.yourexperience.ie #CareExperience

📉 Hospital Operating Margins Hit the Red in July! 📉 As financial pressures mount, hospitals face tough choices. How will this impact patient care and staff? The healthcare landscape is shifting fast! 🏥💼 https://lnkd.in/exSGrf-U #HealthcareFinance #HospitalMargins #HealthcareCrisis

📊 Did you know that despite a 19% increase in hospital capacity over the last 3 years, labor costs have risen by 25%? Hospitals are struggling with increased length of stay and rising readmission rates. What’s the solution?    Join us for a webinar featuring Dr. Tahir Haque, M.D. Haque and industry leaders from across the healthcare landscape. They’ll explore how innovative care-at-home programs are easing the strain on hospital resources and driving better outcomes for patients.    🔗 Register now to gain key insights: https://lnkd.in/ewaQSKQ4   #RemotePatientMonitoring #HospitalAtHome   #DigitalHealth #VirtualCare #CareAtHome 

High Demand and Shorter Stays Boost Hospital Margins in July U.S. hospitals saw improvements in operational stability and margins in July, driven by increased demand and shorter patient stays, according to reports from analytic firms Strata and Kaufman Hall. Outpatient revenue per day rose 4% over June and 17% year over year, while the average length of stay decreased by 2% month over month and 3% from the previous year. This reduction in stays helped lower total expenses per discharge by 2% compared to June and 1% year over year, contributing to stronger hospital performance. Kaufman Hall reported an increase in single-month operating margins, rising from 3.3% in June to 3.8% in July, with year-to-date margins remaining above 4%. Hospitals' daily inpatient revenue increased by 2% over June and 9% year over year, with daily discharges also up by 6%. Strata's report highlighted hospitals' median year-to-date operating margins climbing from 4.9% in June to 6.5% in July, despite "sizable" increases in non-labor expenses, particularly for drugs and supplies. Overall, hospital volumes and margins remained strong through July, reflecting a trend of stability throughout 2024. Source: Strata | Kaufman Hall | Fierce Healthcare, Dave Muoio | Industry Dive, Susanna Vogel Link: https://lnkd.in/dTDvXpjZ | https://lnkd.in/dERp7ft9 #healthcare #business #profit #h1 #health #economy #usa #operations #revenue #healthcarenews

Healthcare is unaffordable

'From Hospital Bedside To Home: The Future Of Affordable Acute Care'. Cost savings, better outcomes, as well as operational challenges are discussed in this Forbes article. #hospitalathome #remotepatientmonitoring https://lnkd.in/gcnQ9_X9

It's easy to think of hospital readmissions as something to tackle once a patient leaves the hospital, but there's a key step that can't be overlooked: what happens when a patient transitions to a post-acute care facility? For post-acute care teams to effectively manage patient outcomes and contribute to reducing readmissions, they need access to the right data-- data that often lives within the walls of acute care facilities. Creating collaborative partnerships between healthcare providers could work hand in hand to share insights and information that can empower each side to make informed decisions. #HealthcareCollaboration #PatientCare #AcuteCare #PostAcuteCare

Sg2, a Vizient, Inc. company, has released released its 2024 Impact of Change®, projecting ongoing constraints on patient access to emergency department and inpatient care. Led by an aging population and an increased incidence of chronic disease and conditions, the report emphasizes inpatient and outpatient volumes will continue to increase over the next decade–impacting how and where organizations deliver care. Read the newly published 2024 Impact of Change® https://lnkd.in/gb6NJ3V6