By Joel French, CEO of SCI Solutions
Hospitals are facing unprecedented financial constraints. Inpatient admissions and surgical procedures are no longer driving needed revenue growth, as they have since the inception of the modern health system, and hospitals are losing working capital from complex government mandates and reform investments, including Electronic Health Record implementations and transitions to the International Classification of Disease, Tenth Edition. What is encouraging though, against the backdrop of this specter of financial distress, is that there are proven strategies that hospitals may implement now, that will abet new revenue streams, bolster numbers quickly and help drive sustained, long-term revenue growth.
For the first time though, hospitals will need to look beyond the four walls of their health system to solve these critical business problems…. Click here to read full article in Becker’s Hospital Review.