Financial Forecast Guidance Report
StrataSphere Key Findings: June 2022
Using comparative analytics representing a cohort of over 1,100 hospitals, this report provides an aggregated view and summarizes the key findings to consider when updating your financial forecast.
- Cost inflation for labor and drugs has approached 7% and 10% respectively, whereas supply costs have risen by 3%.
- The median for contract labor as a percentage of total labor expense is approaching 6% as of February 2022.
- Procedures that were historically performed in an inpatient setting are now being performed on an outpatient basis.
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Actionable, Trustworthy Data
can be translated and analyzed across health systems, entities, and service lines
including Benchmarking of Key Performance Indicators (KPIs), Industry Insights and Comparative Analytics, Predictive Modeling, and the Development of Financial Standards
natural language processing, and predictive analytics are used to normalize, standardize, map and clean data across tens of billions of records
that provide insight to enhance your planning. Participating organizations receive customized analytics that can be compared to the broader StrataSphere insights