HELP WHERE HOSPITALS NEED IT ®
HELP WHERE HOSPITALS NEED IT ®
Community Hospital Blog
Many New Year's resolutions fail not due to lack of resolve but to lack of resources. Many hospitals fall on hard times for the same reason, but help is at hand if hospital leaders know where to reach.
On the brink of closure in 2013, a long-term acute care hospital (LTACH) in rural Kentucky tapped CHC’s resources and in 12 months made a complete turnaround. Under CHC ContinueCARE’s unique ownership model, the LTACH reopened as ContinueCARE Hospital at Baptist Health Corbin and is now regarded as an LTACH industry leader. The model allows host hospitals to receive financial distributions from their LTACHs via a not-for-profit operating company.
CHC’s turnaround strategists help ailing LTACHs like Corbin’s as well as traditional acute care facilities when financial and performance problems become dire. Our turnaround services go deeper than a traditional operational assessment designed for hospitals that are struggling but not yet sinking, and they involve much more than cutting costs — for example, revisting marketing and referral development efforts in the case of ContinueCARE Hospital at Baptist Health Corbin.
The entire turnaround process for any given hospital typically takes 12 to 24 months to see full benefits, but that time prepares the hospital to be a community resource for years to come. At its completion, CHC can stand by you to make sure things go as planned through continued consulting services, a management contract or an ownership model. Or we can equip you with tools and strategies to succeed confidently on your own.
Read about CHC's turnaround programs, including signs that your hospital may be a candidate.
Moving Long Term Acute Care Hospitals Forward
In today’s environment, long-term acute care hospitals, or LTACHs, offer an effective operational model that provides quality care while reducing the cost of lengthy hospital stays in acute care environments.
Implementing Community Hospital Corporation's strategy for LTACH success, CHC and Trinity Mother Frances Hospitals and Clinics, Tyler, Texas, created a joint venture known as Tyler ContinueCARE Hospital. The hospital-within-a-hospital model allows the host hospital to manage patient length-of-stay; opens ICU beds sooner; offers transition to the appropriate care setting; and provides the host hospital potential distributions of excess cash flow generated by the LTACH.
Read the case study for more.
Learn more about developing a long-term acute care strategy in this Becker’s Hospital Review Executive Brief, “9 Considerations for Developing a Long-Term Acute-Care Hospital.”
First, assess market need. Second, assess the opportunity.
There is renewed interest in the benefits of LTACHs, especially since the sunset of a federal moratorium limiting new LTACHs and beds.
CHC helps hospitals evaluate their LTACH strategy and move LTACH operations and finances forward for competitive advantage. Often, we begin together with a comprehensive assessment, which identifies market need for LTACH services as well as organizational strengths and vulnerabilities.
CHC offers distinction – through our post-acute care organization, CHC ContinueCARE LLC, we offer a unique ownership model that provides:
The federally mandated moratorium on new long term acute care hospitals, or LTACHs, and new beds to existing facilities ends Dec. 29. This change has caused renewed interest in how LTACHs can be beneficial to hospitals.
LTACHs offer specialized healthcare services for patients with complex conditions while reducing the cost of lengthy hospital stays in acute care environments.
If you’re taking a closer look at the market demand for LTACH opportunities – improving, expanding or developing services – CHC can help.
CHC offers distinction through:
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