Surveyed Hospital CEOs and CFOs Report a Mixed Outlook for Capital Expenditures Budgets in 2014, With Medical Equipment Purchasing and New Construction as Areas Most Likely to Experience a Decline
CAMBRIDGE, Mass., March 26, 2014 /PRNewswire-USNewswire/ -- According to the responses from 50 U.S. hospital executives MedPanel surveyed, 30% of hospitals plan to increase their capital expenditure budgets from 2013 to 2014, while 18% plan a decrease. MedPanel research manager Lauren Augustine comments, "Recent trends have increased pressure on hospital budgets, and executives must carefully consider large medical equipment investments. Large purchases can definitely bolster both physician and patient recruitment to a hospital, but with reimbursement rates falling and an emphasis on preventing readmission in the Affordable Care Act, there is the real danger that hospital revenue may decline and these purchases may need to be delayed."
Key findings from MedPanel's report entitled 2014 Hospital Capital Expenditures: Hospital CEOs and CFOs Detail Spending Priorities in Robotic Surgery, Radiation Oncology, and Digital Mammography:
- Robotic surgery: The vast majority of hospital CEOs and CFOs expect stability or growth in procedure volumes using robotic surgery systems like the da Vinci system, driving expected purchases of more systems in 2014.
- Radiation oncology: 74% of surveyed hospitals offer this service, and the majority of CEOs and CFOs expect procedure volumes to increase in 2014. Current linear accelerator users are the most likely to invest in new equipment, though a portion of the hospitals who don't own equipment like Accuray's Cyberknife do plan to purchase it in 2014.
- Mammography: Upgrading equipment and attracting patients to increase market share have most impact on digital mammography purchasing. A strong percentage of hospital executives also report an intent to purchase a 3D mammography system in 2014, in an effort to keep up with technological improvements.
MedPanel, LLC, based in Cambridge, MA, provides market insights to leading corporate and financial clients in the life science industry. For fifteen years, its seasoned research staff has been routinely praised for designing market research that delivers the most insight for the dollar, and for its ability to recruit even the hardest-to-find respondents. With dozens of research methodologies, thousands of past client engagements, and hundreds of thousands of expert physicians, nurses, patients, and hospital executives, MedPanel helps its clients make better decisions at every stage of the product life cycle. Visit MedPanel at www.medpanel.com.
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SOURCE MedPanel, LLC