Economic activity in the hospital subsector grew in November for the 18th consecutive month, say the nation’s hospital supply executives in the latest Hospital ISM Report On Business.
The report was issued today by Nancy LeMaster, MBA, Chair of the Institute for Supply Management (ISM) Hospital Business Survey Committee: "The Hospital PMI registered 64.5 percent in November, the highest reading since July 2020 and an increase of 1.1 percentage points from the October reading of 63.4 percent, indicating an 18th consecutive month of growth.
The Business Activity and New Orders indexes increased in November compared to October, while the Employment Index remained in contraction territory. The Case Mix Index increased to 55.5 percent, up 1 percentage point compared to the October reading of 54.5 percent. The Days Payable Outstanding Index registered 47.5 percent, a decrease of 4 percentage points from the October reading of 51.5 percent. The Technology Spend Index registered 52.5 percent, a 0.5-percentage point decrease from the October reading of 53 percent.”
LeMaster continues, “The coronavirus pandemic’s impact varied during November, with high caseloads continuing in some parts of the country, while facilities in other areas reported fewer COVID-19 patients. Many panelists noted increases in elective procedures, while others indicated an increase in patient acuity related to postponed care. Supply chain issues continued to disrupt operations, and several panelists indicated they were forced to increase inventory to compensate for back orders and unavailable products. Comments attributed ‘fear buying’ and ‘stockpiling behavior’ for inventory increases. Employee recruitment and retention was cited as a significant challenge, with clinical and non-clinical positions difficult to fill.”