Economic activity, driven by easing staff hiring conditions and greater inpatient volumes, grew in November for the 30th straight month in the hospital subsector, the Institute for Supply Management said Dec. 7.
The Hospital PMI, a composite performance index, registered 57.5 percent in November, a 6.5 percentage point increase from October, the report showed. An index reading above 50 percent indicates that the hospital subsector is generally expanding.
But pressures in the industry remain, ISM said, with particular concerns over product supply issues. Seasonal adjustments, the potential impact of holiday shipping on product delivery and end-of-year purchase strategies were all cited.
Higher costs for supplies, pharmaceuticals and labor also continue to put pressure on hospital margins, the report said.
More details on the report can be found here. The next ISM hospital report for December data is due Jan. 9 2023.