Staffing shortages and contract labor will continue to be the biggest financial challenges facing hospital and health systems this year, with physician enterprise losses also top of mind for executives, according to a Jan. 4 VMG Health survey.
Here are nine financial headwinds that 141 health system executives — including CEOs, CFOs, COOs — cited as the most challenging for their organizations this year, according to VMG Health:
1. Labor shortage/contract labor: 77%
2. Physician enterprise losses: 40%
3. Aging infrastructure/reinvestment in physical plant: 34%
4. Payor contract negotiations: 31%
5. Capital accessibility: 28%
6. Payor mix shift: 26%
7. Supply and drug costs/supply chain challenges: 21%
8. Information technology investment requirements: 18%
9. Competitive investment (by others): 16%
Click here for more details on the VMG Health survey.