Hospital Financial Stress Indicators
Like dashboard warning lights, certain signs mean it’s time for a tune-up or overhaul
by Jim Kendrick, President & CEO, Community Hospital Corporation
Unfortunately, thin margins have long been a reality for most rural hospitals, but a worsening array of issues—from decreasing reimbursements to declining populations—have forced growing numbers of them into financial distress. By monitoring indicators, creating transparency and responding swiftly to warning signals, financially stressed or distressed hospitals can get turned around before bankruptcy or closure become imminent threats. In this interview, Jim Kendrick, president and CEO of Community Hospital Corporation, discusses best practices for diagnosis and prevention of financial woes. His insights come from years of experience as a community hospital CEO in addition to his time with CHC helping community hospitals across the country bolster their financial health.
Read the full article in Modern Healthcare, April 22, 2019.