All Entries Tagged With: "economic recession"
Fewer inpatient and elective cases, more ED cases on the rise
It's no surprise with the economic downturn, more Americans are forgoing inpatient and elective services and seeking more emergency services, according to the American Hospital Association (AHA) report, “The Economic Crisis: The Toll on the Patients and Communities Hospitals Serve,” released on Monday.
In the survey of more than 1,000 community hospital CEOs, AHA found that the recession has affected both hospitals and patients.
A whooping nine out of 10 hospitals are cutting back due to the economy. Most of those changes affect administrative expenses (80% of those surveyed). Other cost-savings initiatives include cutting staff (48%) and scaling back on services (22%), such as behavioral health, post-acute care, and patient education.
Down economy makes recruiting physicians from afar more difficult
It seems that everywhere you go these days you hear someone talking about the economy. The 2008 Physician Retention Survey by the American Medical Group Association and Cejka Search took a closer look at how the economy is affecting efforts to recruit physicians outside of the local community.
As a recruitment incentive, most medical groups (96%) stated they offer relocation assistance for their physicians. Medical groups most commonly cover expenses for a moving company (92%) and transportation (66%). Other assistance offered include realtor fees (10%), low-cost home loans (6%), and housing subsidies (4%).
Findings were mixed with regard to recruiting physicians outside of the local area and where relocation would be necessary. More than half (54%) of medical groups stated that the candidate’s ability to buy a home in their community had a positive effect on their recruitment efforts, while an almost equivalent percentage (53%) stated that the ability to sell their current home to relocate had a negative effect.
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Now more than ever: Why hospitalist programs are indispensable in tough economic times
Although most agree that the healthcare industry is recession-resistant, few “in the know” would claim it to be recession-proof. As the ranks of uninsured and under-insured patients continue to grow, hospitals (like every other business) must find the most efficient way to deliver care. Enter a well-run hospitalist program.
Hospital expansion projects and new bed towers everywhere are being postponed or cancelled. This means they must make existing beds go farther. If your hospitalist program has an average length of stay that is 20% shorter than the rest of your medical staff, the program has, in effect, added beds to your facility without the construction dust.
President signs economic bill to jumpstart healthcare reform
President Barack Obama signed the economic stimulus bill into law on Tuesday, estimated at $787 billion in tax cuts and spending during the next two years. Called the American Recovery and Reinvestment Act (H.R. 1), the law targets healthcare as one of the catalysts to renovate the U.S. economy.
The American Recovery and Reinvestment Act includes more than $100 billion in Medicaid adjustments and Consolidated Omnibus Budget Reconciliation Act (COBRA) subsidies for unemployed workers, according to Healthcare Finance News. The bill also includes $19 billion for health information technology integration.
The President will release details on the first budget proposal on Feb. 26, outlining the plan for the 2010 fiscal year, according to Reuters.
Hard economic times hit inpatient programs, AHA study says
Nearly half of U.S. hospitals are postponing capital projects because of the economic crisis, according to a new study, “The Capital Crisis: Survey of Impact on Hospitals,” released by The American Hospital Association last week.
Of those hospitals who responded they were putting projects on hold:
- 82% are postponing projects related to upgrading or modernizing their facilities
- 65% are postponing projects related to adding clinical technology
- 62% are postponing projects related to adding information technology [more]
Recruiting hospitalists in a RECESSION? …YIKES!
Editor’s note: In Dec. 2008, the National Bureau of Economic Research officially and unsurprisingly declared a U.S. recession. Hear what Kirk Mathews has to say about how we need to reconsider recruiting strategies during these tough economic times.
Welcome to the Hospitalist Leadership blog! I really don’t like most blogs because I feel I get “blogged down” reading too much text. My goal here is to stimulate responses to current hospitalist issues by drawing upon our experiences—in approximately 250 words.
My 11-year old company, Inpatient Management Inc., currently manages 15 hospitalist programs in 10 different states. In recent months, I have frequently fielded the question, “How has the economy affected your business?” The more obvious effect is fewer patients who have insurance, (therefore, less reimbursement) and more inappropriate use of the ERs. But a more subtle effect is in the critical area of recruiting. [more]
