How Can You Create a More Efficient CV Service Line?
The downward trend continues
Despite a long tenure as a leader in hospital growth and profitability, CV margins are slimming. From 2001 to 2010, Medicare inpatient contribution margins for cardiac and vascular services declined by over 10%; this trend is only expected to worsen in the years ahead.
Furthermore, increasing patient acuity, the outpatient shift, and emergence of new payment models will require CV programs to reduce total costs.
It's time to optimize operational efficiency
To achieve long-term financial success, CV leaders must look beyond immediate gains from managing supply costs, and instead invest in strategies to optimize operational efficiency. The primary opportunities to enhance long-term margins will come from reductions in length of stay and optimizing processes that promote lower-cost outpatient care.
In addition, as changing market dynamics present new challenges for CV capacity management and workforce planning, future success will hinge upon operating at maximum productivity.
Watch Brian Maher explain how your organization can become more efficient by:
- Reducing length of stay
- Optimizing the use of outpatient services
- Redeploying available resources to fill unmet needs
Read The Highly Productive Cardiovascular Enterprise to learn our best practice strategies for operating at maximum efficiency to safeguard future CV margins.