HELP WHERE HOSPITALS NEED IT ®
HELP WHERE HOSPITALS NEED IT ®
Community Hospital Blog
What makes a hospital a community hospital? Several criteria qualify a hospital as such, including the economic role it plays in the region it serves. As CHC’s Executive Vice President Cindy Matthews puts it, a community hospital “very much tends to be part of the economic engine of the community."
In fact, community hospitals tend to be the second or third largest employer in town, usually right behind the school district, she adds.
Lately, industry publications as well as the mainstream press have been acknowledging the vital role community hospitals play. Becker’s Hospital Review states that its importance “should not be understated — sometimes a community hospital will be the only thing keeping a town that used to thrive on railroad traffic and manufacturing going.”
Read more about the “economic boost” and other factors that make a hospital a community hospital in the Becker’s article “The modern definition of a community hospital.”
Read how community hospitals not only provide “an array of jobs from the bottom to the top of the economic ladder” but also “stimulate local spending and help attract new businesses that offer a stable of insured patients” in the New York Times article “Hospitals Provide a Pulse in Struggling Rural Towns.”
From healthcare access to employment, read how community hospitals contribute to their regions in the Southern Business Journal article “Hospitals helping bring money into the local economy.”
At CHC, we believe that community hospitals are indeed the economic engines of their region, and like any engine, they can sometimes use a tune-up. Learn more about how CHC’s services and solutions can help maximize your hospital’s performance.
Yoakum Community Hospital, Yoakum, Texas, was among the “100 Great Community Hospitals” for 2013 named recently by Becker's Hospital Review. This list recognizes community hospitals dedicated to high-quality care and service to the community.
“At Yoakum Community Hospital, patients are our top priority,” said Karen Barber, CEO, Yoakum Community Hospital. “We focus every day on serving neighbors in Yoakum and the surrounding area, as we have for over 90 years. I congratulate our leadership, physicians and entire staff for working together to serve the community.”
A Jan. 30 Becker’s Hospital Review webinar presented by Mike Williams, president and CEO of Community Hospital Corporation (CHC), offered best practices and a case study for community hospitals looking for a partner. 2012 saw the most merger and acquisition activity among hospitals in two decades, Williams said, and the trend is expected to continue in 2013 as many community hospitals — faced with healthcare reform, decreasing reimbursements and other challenges — acknowledge the need for some type of partner.
The case study presented by Glenn Robinson, CEO of Hillcrest Health System in Waco, Texas, demonstrated how Hillcrest Baptist Medical Center saw significant improvements —including the strongest financial year in its history — after partnering with Scott & White, with guidance from CHC.
When considering a partnership, community hospitals first must assess their needs and potential gains in seven key areas:
A webinar on Jan. 30 will explore various partnership options as well as key factors to keep in mind when considering a partnership of any kind. Mike Williams, CHC’s president and CEO, is presenting the program on behalf of Becker’s Hospital Review.
Besides potential upsides and downsides, learn what to do first in order to negotiate from a position of strength:
Hear firsthand how Hillcrest Health System, Waco, Texas, was guided to partner with Scott & White, Temple, Texas.
In today’s healthcare industry, more and more hospitals are exploring various types of affiliations, ranging from governance and ownership transfers to business management contracts and clinical partnerships. While collaboration and consolidation are on the rise, plenty of hospitals remain independent. These standalone hospitals often share certain characteristics.
In an Oct. 31 article for Becker’s Hospital Review, CHC’s President and CEO Mike Williams discusses factors correlating with independence: size and demographics of the community; payer mix; strong finances (i.e., accumulated cash); and strong clinical relationships with physicians and institutions.
Williams also weighs in on a tough question: In today’s healthcare industry, is independence something hospitals should strive for? “Every hospital is unique,” he says, offering hospitals some considerations to evaluate:
A hospital can stay independent with sufficient motivation and finances, and if that’s the best way to serve the community, the article concludes.
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