From the October 2022 issue of HealthCare Business News magazine
Demand for PCDs hampered by economic environment
Since the first PCD CT system received FDA approval, this equipment has attracted attention and curiosity from hospitals. However, symplr has seen limited purchasing interest in the systems, largely due to the cost of this advanced technology. Hospitals are still grappling with several financial and operational challenges in 2022 and equipping their facilities with this emerging technology does not appear to be a priority.
A labor shortage in conjunction with rising inflation has hit hospitals hard. Many were already operating on razor-thin margins after being hammered with the impact of the COVID-19 pandemic for more than two years. According to the Bureau of Labor Statistics, hospital employment has decreased by approximately 100,000 employees since 2019. To make up for this labor shortage, hospitals have become more dependent on contract staff, and contract agencies have drastically increased billing rates. Vendors have also made changes to cope with the current economic challenges. While many vendors absorbed some of the increased production and operational costs in 2020 and 2021, vendors are now pushing some of these rising costs on to their customers, further straining hospital budgets.
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The large increase in inflation also brings a rise in interest rates, further limiting hospitals’ borrowing options and buying power. Hospitals are also faced with a decreased revenue stream, as people choose to put off or opt out of seeking healthcare due to the rising costs of other necessities.
Although commercial availability has been long-awaited for photon-counting CT systems, it is unlikely that we will see this equipment widely used in the near future due to hospitals’ financial constraints.
About the author: Kaitlyn Wilkie, MBA, is an advisor for Research & Analysis, with symplr, specializing in imaging and mammography. With deployments in 9 of 10 U.S. hospitals, symplr is the leader in enterprise healthcare software and services.
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