Hospital CFOs in the U.S. are expected to increase capital spending by an average of 14% per year, according to a report from the Healthcare Financial Management Association (HFMA) in partnership with GE Healthcare Financial Services.
The report, Financing the Future, is based on data collected from a survey of CFOs at 460 hospitals and health systems in the U.S. conducted by HFMA and PricewaterhouseCoopers.
According to the HFMA, nearly three-fourths of CFOs said they would increase their hospitals’ capital spending over the next five years.
Among the three main areas where CFOs will focus their technology spending are digital radiology systems (72%), computerized physician order entry systems (64%), and the purchase of major information technology systems (61%).
The report said that small, rural facilities and not-for-profit hospitals reported the most aggressive capital spending plans, a pattern which may be tied to improving reimbursement levels in recent years. In addition, 50% of teaching hospitals expect capital spending to increase at a rate of 15% or more annually, HFMA said.
By AuntMinnie.com staff writersMarch 3, 2003
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