Labor shortages inhibiting hospital economic growth: Report

Economic activity, driven mainly by greater inpatient volumes linked to the tripledemic of RSV, flu and COVID-19, grew in December for the 31st straight month in the hospital subsector, the Institute for Supply Management said Jan. 9.

The Hospital PMI, a composite performance index, registered 57 percent in December compared with the previous month's reading of 57.5 percent. An index reading above 50 percent indicates that the hospital subsector is generally expanding.

The ability of hospital workers to respond to such inpatient growth, however, was constrained by continued labor shortages amid some increases in absenteeism caused by burnout and staff sickness, the ISM report said.

Panelists surveyed for the report were divided regarding whether product shortages, backorders and supplier deliveries are improving or not.

More details on the report can be found here. The next ISM hospital report for January data is due Feb. 7, 2023.

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