The Economist Intelligence Unit has come up with a research report, “Tipping Point: Hospital Resilience in a Perfect Storm,” sponsored by Prudential Retirement, that says that almost 60 percent of U.S. hospital executives say that their institutions must substantially and soon change their business models if they are to survive.
- The shift from fee-based to value-based payments is the single challenge facing U.S. hospitals. 71 percent of said that shift posed the most critical challenge. 61 percent said the shift worsens pressures on the hospital value proposition. 58 percent said hospitals must change their models to survive. But only half said they were well prepared to address this challenge.
- 60 percent said big data are transforming patient-related opportunities; 57 percent called them a game changer for operational performance, and 63 percent said the value of hospitals’ data remains largely untapped.
- 39 percent said attracting and retaining workforce talent is critical for the hospital sector. As far as their own hospitals are concerned, 74 percent believe their organizations need to pay more attention to retaining and attracting the best talent.
- The intensification of patient demands about service are the second most likely challenge to be called “extremely critical” (24 percent) by survey respondents.