Hospital Operating Margins Down 15% as Tight Competition for Healthcare Workers Drives Up Hourly Rates, According to Syntellis Performance Trends Report
CHICAGO – December 3, 2021 – The latest monthly report from Syntellis Performance Solutions — a leading provider of innovative enterprise performance management software, data and analytics solutions for healthcare organizations — released today finds that hospital operating margins are down 15% compared to October 2020 as factors such as The Great Resignation, supply chain issues and the long-term impact of the COVID-19 pandemic converge to drive up expenses.
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HFMA Workshop: Using Benchmarks to Reduce Costs in Corporate Services
The old adage, "You can't manage what you don't measure," especially applies when organizations attempt to streamline operations within corporate services. We'll discuss how to use internal and external benchmarks to foster an environment of continuous improvement by triangulating monthly performance evaluation against the market for relationships and causation in order to evaluate true cost savings opportunities.