Economic activity, though lower than the previous month as the "tripledemic" of respiratory syncytial virus, flu and COVID-19 slowly declined, grew in January for the 32nd straight month in the hospital subsector, the Institute for Supply Management said Feb. 7.
The Hospital PMI, a composite performance index, registered 52.5 percent in January, down from 57 percent in December. An index reading above 50 percent indicates that the hospital subsector is generally expanding.
As the effects of the tripledemic eased, the volume of elective surgeries may have also been affected as insurance deductibles reset, ISM said.
While supply chain delays generally improved, there remain spot shortages of specific products — including pediatric breathing tubes and tube-feeding materials — which are "serious concerns." Staffing constraints remained, but some respondents reported an easing of reliance on contract labor.
More details on the report can be found here. The next ISM hospital report for February data is due March 7.