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Hospitals and Health Systems to Cut Back on Both Capital Spending and Unprofitable Services in 2009
Date:1/19/2009

New Study from Noblis Center for Health Innovation Discusses the Impact of the Economic Crisis on Hospitals and Health Systems

FALLS CHURCH, Va., Jan. 19 /PRNewswire/ -- A new report released today from the Noblis Center for Health Innovation, a leading non-profit advisory firm to health providers, has found that hospitals and health systems across the United States are cutting back on both capital spending and unprofitable healthcare services as a result of the economic crisis. Conducted in late 2008, the Noblis Economic Impact Study assesses the impact of the national economic crisis on the financial health of hospitals and health systems including: utilization; profitability; uncompensated care; philanthropy and fundraising goals; and the status of current and future projects.

Through in-depth interviews, the Noblis study found that the majority of hospitals experienced both dramatic losses in investment income and difficulty in finding fresh sources of capital.

Additional key findings include:

  • Operating profitability is a concern for many, but not all. More than 56 percent saw a decrease in operating margin over the last quarter, and 39 percent expect it to decrease in the next 12 months, even with staff reductions and other cutbacks.
  • The greater concern was investment losses, which were significant over the past 12 months and disturbingly uncertain over the next year.
  • While overall profitability is a concern, most participants believe that utilization at their facilities will continue to grow. 71 percent of participants expect inpatient utilization to increase slightly during the next 12 months, and 82 percent expect outpatient utilization to increase in the same time period.
  • Philanthropic fundraising in 2008 was buoyed by a rash of major "signature" construction projects. For 2008, 27 percent of respo
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SOURCE Noblis
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