A recent report from ITG Market Research interviewed hospital executives to see how those organizations view their financial performances and what new approaches and healthcare IT solutions are being utilized to cut costs and capture value from efficiency and quality control tools.
According to the report, more hospitals and health systems are seeking partnerships with federal and private payers for risk-based models like shared savings and bundled payments.
ITG Director of Healthcare Market Research Graeme Christianson explained in a company release that there has been a promising uptick in executive confidence about the overall economy. Additionally, Christianson said that more than half of executives believe U.S. business conditions are improving, while 35 percent expect conditions to improve this year.
“But executives are now asking when this economic lift will translate into improvements in the financial performance of their own hospitals or health systems,” he said.
The research also showed that currently, risk-based contracting has penetrated a relatively small proportion of U.S. hospitals. However, nearly half of executives who are not currently participating in risk-based contracting plan to begin implementation within the next year.
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