How Health Systems Can Re-Ignite Growth, Part 1
Many hospitals and health systems across the country have seen operating expense growth outpace revenue growth for at least two consecutive years. While leaders must rein in operating expenses to reverse this trend, topline revenue growth remains a critical component of financial sustainability. Unfortunately, inpatient volumes have stagnated and even healthy outpatient growth often fails to generate sufficient revenue to fill the gap. Hospital and health system leaders need to re-ignite the growth engine to complement cost reduction efforts and achieve sustainable margins.
This two-part series explores the forces behind today’s margin challenge and provides a framework for comprehensive and efficient revenue growth. Part one provides an overview of the current margin challenge, the framework hospital and health system leaders should use to evaluate their growth opportunities, and case profiles from organizations that have effectively reduced avoidable revenue erosion and ensured they are being paid appropriately for each patient encounter.
Things You’ll Learn:
- What's driving the current margin challenge facing hospitals and health systems
- How to shift focus from increasing market-facing price to improving effective price
- How to transform relationships with physicians, patients, and payers to improve revenue cycle performance