HIMSSCast: C-suite is concerned about inflation and affordability
Hospital leaders can use digital transformation to cut costs, improve processes and gain efficiencies, says Tina Wheeler of Deloitte.
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Tina Wheeler is the U.S. Health Care Leader for Deloitte and is the author of the company's recently-released report, 2023 Outlook for Health Care. In August she co-authored Health care organizations turn to CFOs to help navigate disruption.
Looking ahead to 2023, Wheeler said, healthcare has a ton of issues. Many of the top 2022 concerns will lead the way in 2023: workforce shortages and costs; a "tripledemic" influx of COVID-19, RSV and flu cases at a time of delayed discharges; rising expenses; and inflation.
Wheeler speaks to many C-Suite leaders. What they are all talking about, she said, is inflation and affordability – and how both will impact their strategies.
Hear Wheeler's recommendations for hospital leaders in an interview with Susan Morse, executive editor, Healthcare Finance News.
Talking Points:
- Using digital transformation and robotic process automation to help reduce costs.
- The M&A market pressure, especially for smaller and midsize systems.
- The 2023 trend towards outsourcing in an "operate play."
- How healthcare – thought to be previously immune to a recession – is being hit this time around.
- Consumer choices are leading to deferred care and higher costs in the long term.
- The silver lining of virtual health.
More about this episode:
Northwell warns of tripledemic surge fueled by holiday gatherings
Mass General Brigham suffers $2.3 billion in financial losses
Health benefit costs expected to rise 5.4% in 2023
Merger and acquisition deal volumes to continue increasing, PwC finds
AHA: Average length of stay in hospitals up 19%
Half of hospitals will operate in the red this year, report says
Twitter: @SusanJMorse
Email the writer: SMorse@himss.org
