top challenges of community hospitals tipsheet

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Page 1: Top challenges of community hospitals tipsheet

THERE ARE VARIOUS DRIVERS BEHIND THE FINANCIAL STRUGGLES COMMUNITY THAT

HOSPITALS FACE. IN MANY AREAS, COMMUNITY HOSPITALS ARE THE SOLE SOURCE OF

ACUTE CARE AND IMPORTANT PILLARS IN THOSE COMMUNITIES. HERE ARE SOME OF THE

TOP CHALLENGES WITH POSSIBLE SOLUTIONS.*

Top Challenges of Community Hospitals

Page 2: Top challenges of community hospitals tipsheet

http://www.beckershospitalreview.com/finance/the-community-hospital-survival-guide-strategies-to-keep-the-doors-open.html

Top Challenges with Possible Solutions

DWINDLING PATIENT VOLUMES - Hospitals need to determine if their market is shrinking or whether they are losing patients to competitors with help from a community engagement survey. Community hospitals must also think about strategies beyond just providing healthcare and find ways to facilitate continuous health strategies for their population and economic growth in their communities.

UNDERSTANDING THE COST OF CARE – As any viable enterprise, community hospitals need tools and processes that enable them to analyze what it really costs to provide care to their community and develop strategies around that data. This investment could make the difference between a hospital staying financially viable or having to close its doors.

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Page 3: Top challenges of community hospitals tipsheet

http://www.beckershospitalreview.com/finance/the-community-hospital-survival-guide-strategies-to-keep-the-doors-open.html

Top Challenges with Possible Solutions

HIGH LEVELS OF BAD DEBT - A strong investment of resources is needed in all three stages of the revenue cycle (selling, billing and collections) but this may not be an option for financially distressed community hospitals. Small process changes like collecting from patients at the point of service may help.

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Page 4: Top challenges of community hospitals tipsheet

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