BOSTON, MA - March 30, 2010 - The L.E.K. Consulting Hospital Purchasing Survey, one of the healthcare industry's most comprehensive tools for tracking changes in hospital purchasing attitudes and behavior, has shown that hospitals across the U.S. are employing highly sophisticated budget strategies to cut costs, make targeted investments to support growth, emphasize patient safety, and prepare for ramifications of the new healthcare legislation.
L.E.K.'s study offers unique insight from more than 200 senior hospital decision makers in the areas of general hospital trends, hospital strategy, unmet needs and legislative reform. In addition, the first annual study provides department-specific purchasing insight into more than a dozen clinical and administrative areas. Key insights from the L.E.K. Hospital Purchasing Survey are available here in a new L.E.K. Executive Insights report.
"New healthcare reform is dramatically changing the healthcare industry, and hospital executives realize that old business models no longer apply in today's new healthcare landscape," said Jeffrey Stevens, Vice President and Co-Head of L.E.K. Consulting's global MedTech practice. While it's well-documented that the healthcare industry has been cutting costs, L.E.K.'s new research uncovered innovative strategies that begin to differentiate hospitals in select areas while simultaneously bracing to support the projected increase in admissions caused by new federal legislation. This insight has critical implications for medical device and life sciences companies, equipment manufacturers, service providers, and technology vendors alike."
The L.E.K. Hospital Purchasing Survey highlights include:
General Hospital Trends
- Nearly two-thirds of hospitals decreased or froze spending last year, and most hospitals expect further cuts in 2010.
Impact of Healthcare Reform
Hospital Strategy and Unmet Needs
The L.E.K. Hospital Purchasing Survey also includes specific departmental feedback from decision makers in the following areas: cardiovascular, dental, hematology/renal, hospital hardware, infection control, IT, neurology, oncology, ophthalmic, orthopedics, radiology, respiratory, urology and women's health. Broad themes revealed in the study include:
About the Survey
The L.E.K. Hospital Purchasing Survey was fielded in January 2010 to track changes in hospital purchasing attitudes and behavior. The sample included 203 key decision makers at hospitals across the United States. Individuals participating in the survey included CEOs, CFOs, COOs, materials managers and purchasing directors.
Please contact [email protected] for additional information or to schedule a meeting to review the full report.
About L.E.K. Consulting
L.E.K. Consulting is an international firm that specializes in strategy, transaction services and performance improvement consulting. It advises the largest private and public sector organizations, private equity companies and smaller, more entrepreneurial businesses. With a reputation for resolving the most complex commercial issues, L.E.K. helps business leaders consistently make better decisions, deliver improved business performance and create greater shareholder returns. The firm was founded in 1983 and employs more than 850 staff in 20 offices across Europe, North America and Asia Pacific. In 2007, L.E.K Consulting was awarded the Queen's Award for Enterprise for its achievements in international trade. Find out more at www.lek.com.
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