How Health Systems Can Re-Ignite Growth, Part 2
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 two covers best practices from organizations that have increased volumes by shifting market share in the inpatient and outpatient setting. This session also examines how provider organizations are exploring opportunities to diversify into new revenue streams while remaining true to their core operations.
Things You’ll Learn:
- How to improve patient retention and acquisition by investing in strategies to win the loyalty of both consumers and physicians
- How to assess opportunities to win new patient volumes by competing for wholesale purchaser contracts
- The five primary opportunities hospital and health system leaders should consider when evaluating diversification into new revenue streams