During the first three quarters of 2023, the prices for CMS’ 500 shoppable services increased by 2.0%, according to a new report. This figure is in alignment with the 1.9% U.S. inflation measured by the Personal Consumption Expenditures Price Index and below the overall U.S. inflation rate measured by the Consumer Price Index.
Hospital finances worsened in July as volumes dropped, according to a new report. Following four months of growth, hospitals' median year-to-date operating margin index fell 1.3%, down from 1.4% in June. Hospital finances still remained in a better place than they were last year, given hospitals’ median operating margins were -0.98% in July 2022.
Hear executives from Quantum Health, Surescripts, EY, Clinical Architecture and Personify Health share their views on digital transformation in healthcare.
Employers' healthcare costs are anticipated to rise by 8.5% in 2024, according to Aon. The projected increase is nearly twice the 4.5% increase that employers saw from 2022 to 2023. Inflation is a major factor for the increase.
The increasing costs of labor and supplies are the top issues keeping healthcare CFOs up at night, according to a new report. Even though providers' margins are currently quite tight, the report recommended that healthcare organizations adopt data analytics software to remedy these concerns and help with important decisions like how to effectively manage their existing workforce and where to shift care delivery models.
As a possible recession looms, the unemployment rate will likely rise, meaning employers won’t have to work as hard to find workers. Therefore, they’ll likely be cutting down on the digital health companies they work with, and tech vendors will really have to prove their worth in reducing costs, one expert says.
Inflation and shrinking operational margins are among the key factors that will influence hospitals and health systems’ strategies in 2023. To deal with this, more hospitals will merge with other systems, predicted Tina Wheeler, Deloitte’s leader for its healthcare sector.
As technology advances, AI-powered tools will increasingly reduce the administrative burdens on healthcare providers.
As the healthcare industry prepares for a possible recession, Ash Shehata of KPMG expects to see more use of technology, targeted investments and an impact on consumers' wallets.
More than 31% of people with employer-sponsored insurance stuck with a job they disliked for the company’s health insurance, a Forbes Advisor survey found. Another 8% of respondents left a job they liked to seek better coverage.
The 10% increase is the largest in almost 15 years, the Willis Towers Watson survey found. Most of the insurers, or 75%, blamed the overuse of care for the rise in medical costs.
Decreased spending power compounds the impact of social risk particularly by surfacing other associated deficiencies in areas such as health literacy, digital access and social isolation.
The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes.
The 6.5% increase in average costs for U.S. employers is more than double the 3% increase employers experienced in 2022, the report said. However, the increase is below the 9.1% increase in the Consumer Price Index.
These issues will likely be modest, Moody's said in its August report. Unlike hospitals, insurers will be less exposed to supply chain issues, higher interest rates and labor shortages.
About 95% of Medicare beneficiaries are anxious about inflation’s impact on healthcare costs, with 45% saying costs have already increased because of inflation, the eHealth survey discovered.