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Can Your Hospital Withstand a Cyberattack?

The healthcare industry is a top target for cyberattacks in general and ransomware in particular. As a result, cybersecurity has become an important topic for healthcare providers in urban and rural settings. This white paper discusses ways for community hospitals to improve cybersecurity.

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Videos

Hospital Financial Distress Indicators

This one-minute video outlines financial warning signs that indicate financial trouble for your community hospital.


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Solutions

Operational Assessment: The First Step to Long-term Sustainability

Do you know where your hospital stands? Is it holding its own or barely holding on? CHC Consulting’s Operational Assessment determines your hospital’s status objectively and paves the path to performance enhancements and financial sustainability.

A Comprehensive Operational Assessment:

Includes a thorough review of operations Identifies strengths as well as areas for improvement Forms the basis for a performance enhancement plan with specific action steps

The Operational Assessment begins with an extensive review of data and documents, coupled with one-on-one interviews with individuals whose perceptions of the...


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News Room

Hospital Turnarounds Start with an Operational Assessment

Troubled community hospitals can begin to reboot by parlaying an evaluation of operational performance into an action plan. This path leads hospitals from survival mode to a strategic mindset so they can do more than just keep the doors open. A comprehensive operational assessment and accompanying action plan help improve overall operations including critical areas such as revenue cycle, supply chain, staffing and leadership.

Read more, as posted to Becker’s Hospital Review, April 24,...


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Operational Assessment is The First Step Toward a Hospital Turnaround

Blog

Hospital Turnarounds Start with an Operational Assessment

Troubled community hospitals can begin to reboot by parlaying an evaluation of operational performance into an action plan. This path leads hospitals from survival mode to a strategic mindset so they can do more than just keep the doors open. A comprehensive operational assessment and accompanying action plan help improve overall operations including critical areas such as revenue cycle, supply chain, staffing and leadership.

Tackling an operational assessment may seem daunting. While the process is complex, a good place to start is by examining outsourced contracts, as some may have...


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Case Studies

Debt Restructuring Creates Solid Footing: North Texas Medical Center, Gainesville, Texas

The Situation

Gainesville Hospital District saw light at the end of the tunnel—a new beginning for North Texas Medical Center (NTMC). The district had leveraged bankruptcy to get the legal protection and time it needed to develop a plan to restructure $40 million in debt, pay creditors, and keep the hospital open. The district secured debtor-in-possession financing and filed a bond validation to enhance the appeal of its bonds as investments. Gainesville Hospital District was on the right track to emerge from Chapter 9, but the district needed to...


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Blog

Hospital Districts Provide Critical Financial Support for Community Hospitals

Stemming the closure rate of rural hospitals may depend in part on the financial support provided by hospital tax districts. This can be difficult to swallow for many who are reflexively against higher taxes. However, voters may come around when the case is made that a modest property- or sales-tax levy or hike could provide the necessary financial support to keep their hospital open and sustainable for their community.

Hospital Tax Districts Fill a Funding Gap

Tax districts help ensure the survival of hospitals that may be at risk of...


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News Room

A Turnaround Story: Southwest Health System

A recent blog post by Community Hospital Corporation (CHC) details the situation that caused Southwest Health System to reach out to CHC for assistance in early 2018, the plan they created to turn around the hospital, and the final results to date.

When the Southwest Health System (SHS), in Cortez, Colorado, contacted Community Hospital Corporation (CHC) early in 2018, the hospital had violated various bond covenants associated with its $30 million expansion and renovation project. In fact, the organization had failed to meet the 80 days-cash-on-hand requirements for four consecutive...


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Blog

Lessons for Leaders of Distressed Hospitals

GUEST BLOG

By Anthony Sudduth, CEO, Southwest Health System

Last year, Southwest Health System (SHS), in Cortez, Colorado, found itself in the midst of a significant financial crisis. The hospital had violated bond covenants associated with a $32 million building project, failing to meet the 80 days cash-on-hand requirement for four consecutive quarters. This violation triggered technical default, which could have led to bankruptcy and closure. Instead, SHS acted swiftly and decisively, becoming not a cautionary tale but a comeback story and an inspiration.

The SHS turnaround is a bright...


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Case Studies

A Turnaround Story: Southwest Health System

The Situation

When the Southwest Health System (SHS), in Cortez, Colorado, contacted Community Hospital Corporation (CHC) early in 2018, the hospital had violated various bond covenants associated with its $30 million expansion and renovation project. In fact, the organization had failed to meet the 80 days-cash-on-hand requirements for four consecutive quarters. This violation triggered technical default, which could have led to hospital bankruptcy
and closure.

Lenders concerned with the financial situation communicated with the board directly and required an outside consulting firm to evaluate the situation and develop a...


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