Healthcare and social services encompass hospital medical care, outpatient care provided by physicians, urgent care, elderly and hospice care, dental work, and social assistance.
About 75 percent of U.S. hospitals in this industry sector are not-for-profit institutions.
The Affordable Care Act of 2010 (ACA), making health coverage available to all Americans, is significantly changing how medical care is acquired, delivered, and paid for in the United States.
New regulatory requirements require hospitals to decrease their hospital readmission rates to cut Medicare costs or face financial penalties.
Implementation of electronic health records (EHRs) is expected to help control costs through efficiency.
Cost containment is a priority for healthcare organizations.
“Engaging ERA is a great way to conduct an external double-check in order to benchmark costs. From management's perspective, it is a really easy way for us to gauge how well we are doing in terms of receiving the best value from our suppliers.”