July 15, 2020 / 4:55 PM / a month ago

ISM says launching U.S. purchasing managers' index for hospitals in August

WASHINGTON (Reuters) - The U.S. Institute for Supply Management said on Wednesday it would launch a new Purchasing Managers’ Index for hospitals next month, to assess domestic hospital supply chains amid the COVID-19 pandemic.

ISM said the inaugural hospital PMI will be published on Aug. 7 at 10 a.m.(1400 GMT) featuring July data.

Hospitals are grappling with shortages of personal protective equipment as new coronavirus cases surge across the country. The ISM said in a statement that it hoped the new PMI would be a useful tool for the hospital sector as it restructures its supply chains.

“ISM is proud to expand the depth of our economic insights as we look to serve the supply management profession and the greater economic community,” said ISM CEO Thomas Derry. “Long planned, the hospital PMI promises to be a valuable tool to clinicians, administrators, and policy makers just as the fragility of medical supply chains has become a pivotal topic.”

Hospital-specific data has been collected since April 2018, and monthly reports will be released on the fifth business day of the month. Just as with the established ISM manufacturing and nonmanufacturing indexes, a reading above 50 indicates growth in the hospital sector. A reading below 50 indicates contraction.

Reporting By Lucia Mutikani; Editing by Chizu Nomiyama

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