Hospital executives are planning for budget increases in areas including health IT over the next five years and are prioritizing strategic initiatives that had previously been on hold due to economic constraints, according to an L.E.K. Consulting news release.
The annual report, Strategic Hospital Priorities, suggests healthcare insurance reform is also causing hospital management to reevaluate how they select and purchase medical devices and other services. The study surveys nearly 200 senior hospital decision-makers. Key findings from the survey include the following:
• Nearly 60 percent of hospital executives surveyed expect budget increases in 2011, up from only 38 percent in last year's study.
• During the next five years, 70 percent of respondents predict larger budgets and are planning to increase purchasing in multiple areas, including information technology (58 percent), facilities (38 percent), large medical devices (37 percent), small medical devices (21 percent) and disposables (28 percent).
• More than half of respondents expect to use GPOs more by 2015, a nearly 20 percent increase from a year ago.
Read the news release about hospital budgets and purchasing.
Read other coverage about IT spending:
- Group Calls for More Spending on Medical Innovation
- Survey Suggests Total Cost of EHR Adoption Could Amount to $120K Per Physician
The annual report, Strategic Hospital Priorities, suggests healthcare insurance reform is also causing hospital management to reevaluate how they select and purchase medical devices and other services. The study surveys nearly 200 senior hospital decision-makers. Key findings from the survey include the following:
• Nearly 60 percent of hospital executives surveyed expect budget increases in 2011, up from only 38 percent in last year's study.
• During the next five years, 70 percent of respondents predict larger budgets and are planning to increase purchasing in multiple areas, including information technology (58 percent), facilities (38 percent), large medical devices (37 percent), small medical devices (21 percent) and disposables (28 percent).
• More than half of respondents expect to use GPOs more by 2015, a nearly 20 percent increase from a year ago.
Read the news release about hospital budgets and purchasing.
Read other coverage about IT spending:
- Group Calls for More Spending on Medical Innovation
- Survey Suggests Total Cost of EHR Adoption Could Amount to $120K Per Physician