More than 60 percent of hospital executives expect to have higher budgets this year, roughly double the amount from two years ago, according to a report from L.E.K. Consulting (pdf).
The report looked at responses from roughly 200 C-suite-level hospital leaders. They also indicated the biggest spending priorities that will contribute to higher budgets over the next five years will be health information technology, large medical device capital expenditures and disposable products that prevent infections and reduce medical errors, especially as value-based purchasing will get under way later this year.
In efforts to control the cost side of hospital operations, many executives also said they plan to continue "aggressive" negotiations with suppliers and group purchasing organizations because most purchases are heavily scrutinized now.
The report looked at responses from roughly 200 C-suite-level hospital leaders. They also indicated the biggest spending priorities that will contribute to higher budgets over the next five years will be health information technology, large medical device capital expenditures and disposable products that prevent infections and reduce medical errors, especially as value-based purchasing will get under way later this year.
In efforts to control the cost side of hospital operations, many executives also said they plan to continue "aggressive" negotiations with suppliers and group purchasing organizations because most purchases are heavily scrutinized now.
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