HELP WHERE HOSPITALS NEED IT ®
HELP WHERE HOSPITALS NEED IT ®
Community Hospital Blog
By Wilson Weber, Executive VP and COO, CHC
Rural hospitals operate as a healthcare safety net for smaller
Along with the need for hospitals and healthcare services, our rural hospitals need more primary care physicians (PCPs) to care for patients. According to data from the Agency for Healthcare Research and Quality, there are 68 PCPs per 100,000 people in rural areas, compared with 84 per 100,000 in urban areas. Approximately 65 percent of primary care health professional shortage areas are in rural counties, according to Rural Healthy People 2020. This lopsided geographic distribution makes it doubly difficult for rural hospitals to maintain the health of their communities.
Like any business, a hospital’s financial well-being is tied to expenses and revenue. The tried-and-true formula is to increase revenue and reduce costs. That’s simple enough — yet bottom-line results for a rural hospital mean more than just the numbers. Employees, patients and the surrounding community depend on the hospital’s continued success.
In spite of the challenges, some community hospitals are seeing better financial performance. Let’s examine some actions they are taking to improve the bottom line.
Financial stability is the solution to beating the odds in rural healthcare. Find out more about how CHC is helping hospitals.
CHC is pleased to announce that President and CEO Mike Williams is the 2014 recipient of the Texas Hospital Association’s highest honor, the Earl M. Collier Award for Distinguished Health Care Administration.
The award recognizes distinguished executives’ contributions to, and leadership in, the healthcare industry, as well as their active participation in THA and other industry groups. Williams’ colleagues and clients express how fully he qualifies for the award in the short video you’re about to see.
THA’s bestowal of this award upon Williams indicates how highly he is respected outside the organization, says CHC board chairman Ken Gordon. Williams is a frequent national speaker on the preservation of community hospitals, drawing from his experience growing CHC from a one-employee operation in 1997 to an industry leader with a corporate staff of 60 and hospital clients in 25 states.
All told, Williams has 30 years of experience in executive management.
After six decades of regional prominence, Memorial Medical Center-Lufkin, the flagship hospital of a four-campus system in East Texas, weathered a multi-year trend of dwindling patient volume and cash reserves resulting in a bond rating downgrade. Determined to get back on track, hospital leaders hired CHC to design and implement a turnaround program to restore the hospital’s financial health and credit, as well as the system’s prospects as a whole.
Recently, the system announced a strategic partnership made possible in part by the turnaround program’s impressive results.
Read the full case study for more.
Learn about CHC's Turnaround Services.
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.
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