Averting a Crisis in Declining Revenue

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No hospital executive wants to find themselves at the helm of a sinking organization. However, too often a blasé attitude toward improvement leads to misguided attempts at solving the real problems healthcare institutions now face. With the tide of reform rising, there are no hospitals immune from the flood of changes that will surely result. It’s time for healthcare leaders to stop “bailing water” and start implementing creative ways to successfully “patch” existing financial leaks before the damage is beyond repair.

In the article “American Hospitals – Averting a Crisis in Declining Revenue,” our President and CEO, Jan Jennings, discusses some critical points that every hospital and IHDN executive should put into practice. The goal is to shed light on improvement opportunities that might have otherwise gone unnoticed by addressing the complexities of healthcare in more simplistic terms.

Here’s a preview:

“Five great reasons why general managers should get more granular…

For every 250 beds, there is a print management company that will guarantee the hospital $300,000 in savings. Guaranteed 10% cost reductions in energy management are available with no capital expenditures.

There is earned but not collected revenue available for capture in every hospital in the country. Hospitals typically overspend on labor by $1.5 million per every 50 beds.
10-15% savings can be achieved by becoming less dependent on high margin equipment maintenance contracts.”

Click here to read the full article, or visit www.americanhs.com to explore the many services that American Healthcare Solutions offers.