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Article: CFOs expect double-digit increase in capital spending.(Industry Watch)(Chief financial officers)(Brief Article)
- Article from:
- Healthcare Financial Management
- Article date:
- April 1, 2004
CopyrightCOPYRIGHT 2004 Healthcare Financial Management Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nearly three-fourths of CFOs said they will increase their hospitals' capital spending over the next five years, according to survey findings published in HFMA's latest Financing the Future report. CFOs plan to increase capital spending by 14 percent per year, on average, with projected spending in certain regions of the United States rising more than others. In contrast to projected capital spending, actual average annual increases in capital spending between 1997 and 2001 were merely 1 percent.
Driving the increased spending expectations are three primary, often competing pressures: the need to stay ahead of deteriorating fixed assets, the need to upgrade ...