Arcos Analytics

Building data tools for healthcare leaders.

[Arcos Analytics @ArcosAnalytics]

California, Texas, New York and Florida have the most healthcare workers, but their rate of growth is different.
It will be interesting to see which of these states have the most healthcare workers by 2030.

https://t.co/JitWrWL7is

[Arcos Analytics @ArcosAnalytics]

It’s no surprise that more healthcare professionals are in New York, Texas, California and Florida, but which state can increase their healthcare laborforce to meet additional needs of an aging population?

https://t.co/JitWrWL7is

[Arcos Analytics @ArcosAnalytics]

Our analysis shows that the number of hospital workers are decreasing on an annual basis. To make up for the decrease in healthcare staff, many hospitals and clinics are relying on temp labor to fill in.
https://t.co/JitWrWL7is

[Arcos Analytics @ArcosAnalytics]

Although only 3% of healthcare workers are considered contract labor, hospitals increasingly rely on contract labor when facing staffing challenges. There may be a greater demand for contract labor if shortages increase.

https://t.co/JitWrWL7is

[Arcos Analytics @ArcosAnalytics]

Over the past 10 year, the healthcare labor force has increase annually by an average of 1.6%. In healthcare it takes time for healthcare to adjust.

https://t.co/JitWrWL7is

[Arcos Analytics @ArcosAnalytics]

In the past 10 years, we have increased our healthcare labor force by 1 million healthcare professionals. But is it enough to meet increased healthcare demands?
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https://t.co/JitWrWL7is

[Arcos Analytics @ArcosAnalytics]

Healthcare Laborforce challenges will continue into the future. Our analysis shows that over time, healthcare labor will not be able to keep up with the increased demand for healthcare. What starts as labor challenges will turn into labor shortages.

https://t.co/JitWrWL7is

[Arcos Analytics @ArcosAnalytics]

Since more and more patients need greater amount of services, they will rely on the current healthcare system that relies on the market dynamic that takes place between providers and health insurance companies.

https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

Contractual allowances in healthcare will continue to go up. This is why we have analyzed the data to show that as the US ages, contractual allowances will continue on their current trend.

Contractual Allowances – https://t.co/wMiCwETfAC

[Arcos Analytics @ArcosAnalytics]

When looking at the bell curve of the cost to charge ratio, most hospitals have a narrow range for their cost to charge ratios with a set of outliers that extend to the right of the curve.

https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

“Correlation doesn’t equal causation”
But it’s a good place to begin understanding the relationship between cost to charges and contractual allowances.
https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

It’s easy to see the correlation when comparing charges as a percent of cost to contractual allowances. Both move closely together over time.
Contractual Allowances – https://t.co/wMiCwETfAC

[Arcos Analytics @ArcosAnalytics]

Cost to charge ratios is a fundamental metric that drives healthcare decisionmaking. When used with contractual allowances, we can begin to see an inverse correlation between the two.

Contractual Allowances – https://t.co/wMiCwETfAC

[Arcos Analytics @ArcosAnalytics]

“Show me the Incentives, I Will Show You the Outcome”
Charlie Munger

https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

When patients and providers understand contractual allowances, they can be better prepared to negotiate with insurance companies.
https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

Health Systems have even greater negotiating power than individual hospitals. This is why it is important to consider trends for a specific health system to gain a greater context of the contractual allowance for a hospital.

https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

When we look at contactual allowances per discharge, it’s easy to understand what contractual allowances mean for each patient. This paints a clear picture of what individual hospitals charge.

https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

Contractual allowances make more sense when they are translated into a per-discharge level. This allows us to understand what contractual allowances mean for patients.

https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

Contractual allowances are associated with how they are negotiated at the health system level and not their location.

https://t.co/V1rysAWBY2

[Arcos Analytics @ArcosAnalytics]

As hospitals are associated with their particular system, we can see specific trends across hospital systems related to contractual allowances.

https://t.co/V1rysAWBY2