Olympus Continues To Set Aside Reserves For Expected Scope-Related Lawsuits

November 14, 2018 / Hospital Management, Infection Control, Managing Endoscopes, Patient Safety, Regulatory Compliance /

As the United States Department of Justice continues to examine Olympus’ role in infections related to the use of its duodenoscopes, the company is setting aside millions of dollars in reserves to cover expected losses from related lawsuits. As the leader in duodenoscope and endoscope sales in the US, Olympus expects to bear a majority […]

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Improper Ultrasound Probe Disinfection Leads To Class Action Lawsuit

October 12, 2021 / Hospital Management, Infection Control, Joint Commission, Managing Endoscopes, Patient Safety, Regulatory Compliance /

A hospital in Western Pennsylvania has recently been hit with a class action lawsuit from patients who underwent ultrasound procedures at the hospital. UPMC Jameson, a hospital in the UPMC Health System, had recently reached out to more than 200 patients who underwent ultrasound procedures at the hospital from October 2017 to October 2018. Attorney

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Is Hospital Consolidation Driving Any Supply Chain Savings?

October 31, 2018 / Cost Reduction, Hospital Finance, Hospital Management, Supply Chain, The Business of Surgery /

One of the key tools US hospitals are using to increase margins in today’s healthcare environment is consolidation. By merging operations with other regional hospitals or systems, many executives are looking to pad their margins through economies of scale. However, it appears that consolidation as a strategy to improve margins may not be working, at

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Average Hospital Spending $11 Million Annually On Supply Chain Waste

October 24, 2018 / Cost Reduction, Hospital Finance, Hospital Management, Operational Efficiency, Supply Chain, The Business of Surgery /

A recent study from Navigant Consulting concluded that hospitals across the US are wasting an aggregate of $25.4 billion annually in their supply chain, or $11 million per hospital. The amount of waste is up 10.2% from 2017. With hospitals increasingly focused on eliminating waste from their operations to increase profitability, the supply chain is

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Hoarding In The OR Is Costing Your Hospital Real Money

October 17, 2018 / Cost Reduction, Hospital Finance, Hospital Management, Operating Rooms, Operational Efficiency, Supply Chain, The Business of Surgery /

The hospital supply chain is increasingly being looked at as a way for hospitals to eliminate unnecessary spend. As hospitals continue on their journey from volume to value, the profit per procedure needs to improve in order for hospitals to remain profitable. As the place where most hospitals make and spend 50% of their dollars,

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Top Health Technology Hazards List For 2019 Includes Endoscope Reprocessing

October 9, 2018 / Hospital Management, Infection Control, Managing Endoscopes, Patient Safety /

The ECRI Institute, based in Philadelphia, has just released its annual list of health technology hazards for 2019.  Endoscope reprocessing once again appears on the list, coming in as the number 5 hazard for 2019. The Top 10 Health Technology Hazards List is the result of extensive research by ECRI’s engineers, scientists and clinicians, as

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US Hospitals Suffer Profit Drop For Second Straight Year

September 27, 2018 / Cost Reduction, Hospital Finance, Hospital Management, Supply Chain, The Business of Surgery /

A recent press release from Fitch Ratings noted that not-for-profit hospital operating margins fell for the second straight year. The median operating margin in the not-for-profit hospital space was 1.9% in 2017, down from 2.6% in 2016. Even though balance sheets strengthened for the not-for-profit hospital sector in 2017, the drop in operating margins from

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The Dangerous Trend Of Hospital Costs Outpacing Revenue Growth Rates

September 20, 2018 / Cost Reduction, Hospital Finance, Hospital Management, Operational Efficiency, Supply Chain, The Business of Surgery /

A recent research report from Moody’s Investors Service noted that not-for-profit hospital revenue growth rate have been increasing at a slower rate than expenses, leading to shrinking profitability margins. While there has been a slowdown in the growth rate of costs at not-for-profit hospitals, the reduction in the revenue growth rate was even faster in

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Study Reveals Bronchoscopes Ready For Use On Patients Are Still Dirty

September 12, 2018 / Hospital Management, Infection Control, Joint Commission, Managing Endoscopes, Patient Safety, Regulatory Compliance /

Several recent studies have shown that despite best efforts to follow manufacturer reprocessing guidelines, bronchoscopes deemed ready for patient use are still contaminated at a high rate. Some of the most recent research highlighting the difficulties of disinfecting bronchoscopes was published by Cori Ofstead, MSPH. In a recent presentation at the annual meeting of the

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New Research Concludes Academic Medical Centers Trail Community Hospitals In Cost And Quality Measures

August 30, 2018 / Cost Reduction, Hospital Finance, Hospital Management, Operational Efficiency, Supply Chain, The Business of Surgery /

Academic medical centers (AMCs) play a prominent role in America’s healthcare system. They provide a disproportionate share of charity care, medical research and medical education when compared to non-academic medical centers. It has been assumed for a long time that AMCs also provide higher quality care than comparable non-academic medical centers, however there has been

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