20 July 2018

Global medical equipments industry forecast in 2013

Global medical equipments industry forecast in 2013

As per the reports given by Carol KO, the staff writer of DOT med News, a recent survey was made by Premier, a union of hospitals dedicated to improve health care performance which says that the hospitals are expecting an increase in spending for health IT and construction, due to which the investments for medical equipment continue to drop. It also showed that the overall health capital spending is expected to decrease in 2013. As per the survey made from 617 hospital executives and managers, only 41 %  foresee an increased capital spending compared with steady drop from 42 % in the year 2011 and 46 % in the year 2010.

The survey also says that 43 % of respondents anticipate health IT to be their biggest capital investment in 2013, whereas 34 %foresee infrastructure and construction as their largest projected expenditure. Comparatively, executives forecast spending on imaging, surgical, clinical and lab equipment to fall by more than 23 % compared to the last six months.

According to the report given by nearly 33 % of respondents, most of the hospitals want to improve supply chain efficiency to widen their budgets and product standardization.

According to Alven Weil, the Premier’s director of communications, if hospitals streamline their list of vendors through product standardization, then it will lead to equipment spending cuts.

As per the reports, waste reduction will become an ongoing priority for hospitals as they stand to lose about $39 billion in the next ten years from automatic budget reductions alone, if there are billions of dollars of Medicare cuts. One of the trends which are impacting hospitals is due to reimbursement cuts cited by 74 % of respondents because of which there would be a decrease in patient admissions as forecast made by a number of 24% respondents.

According to Durral Gilbert, Premier President of Supply Chain Services, health systems are in a dilemma as to how to provide the most effective and efficient care, mainly because of lower reimbursement and less patients. To improve outcomes and reduce costs paramount in the current health care environment, the value-analysis process of using integrated data must be considered.

Source: dotmed.com

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