CFOs have their eye on the upcoming October jobs report and are watching what the Federal Reserve will do with interest rates, as consumer prices have not dropped as quickly as expected.
Five things hospital and health system CFOs are watching this week:
1. Economists polled by The Wall Street Journal predict October's unemployment rate was 3.6 percent, up slightly from the previous month, and hourly earnings will be up 0.3 percent month over month. The Bureau of Labor Statistics will release the report Nov. 4.
2. Rising wages could lock the economy into a high-inflation position, and Federal Reserve officials are worried, according to The Wall Street Journal. Consumer prices were up 6.2 percent year over year in September, and the Fed's policymakers will likely raise their target range on overnight rates, according to the report.
3. There will be more hospitals and health systems switching EHR platforms. In the last month, Atlanta-based Emory Healthcare and Houston-based Memorial Hermann announced plans to switch from Oracle Cerner to Epic, which will cost millions. Here is why big systems are making the switch.
4. Open enrollment for the health insurance marketplace starts Nov. 1 and the federal government is gearing up for coverage. Premiums are up nationally between 4 percent and 5 percent, according to CNBC, but some states are reporting double-digit declines.
5. Blackstone purchased a majority stake in Emerson Electric's climate technologies business in a $14 billion deal, which is the biggest private equity buyout, according to The Wall Street Journal. Blackstone will get 55 percent stake in the unit and will contribute $4.4 billion in equity to the deal along with its co-investors.