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U.S. hospital systems are navigating a challenging terrain; already tight margins are getting tighter as reimbursement levels fall and patient mix shifts toward more Medicare and Medicaid patients. In its fifth annual hospital priorities study, L.E.K. Consulting surveyed 150 hospital CEOs and other senior decision makers to find out what they believe are the major challenges to the industry and their institutions. In addition, respondents described their spending plans and the kinds of services they desire from MedTechs.
As they look to improve profitability and at least maintain patient quality, study respondents report that hospital systems are initiating four broad measures:
- Consolidating to improve leverage with payers and suppliers
- Integrating with alternative care facilities to offer a fuller continuum of care
- Becoming more accountable in order to take advantage of emerging reimbursement models
- Centralizing and coordinating supply chains
While the final measure may frighten some MedTech executives, it presents opportunities for companies that can reposition themselves to offer broader solutions to hospital systems. The fifth annual L.E.K. Hospital Priorities Study explores how MedTech companies can thrive in this new environment.