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Community Hospital 2.0

For years, community hospitals have been in crisis, with limited control over their situation. Could the next move be bold innovation? This white paper maps out possible paths forward including sustainable models of operation.

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Blog

Decisive Actions to Improve Financial Performance

By Tod Beasley

When a community hospital Chief Financial Officer (CFO) notices dwindling cash reserves and declining patient volume, it’s time to identify opportunities for financial improvement.

Unfortunately, in rapidly changing times like these, the financial position of many hospitals is a bit hazy. A variety of factors including COVID-19 surges, state staffing support, Federal CARES Act funding, increasing supply costs, contract labor and rising wages have created dynamics that have made it more difficult to budget and track financial performance.

Even with many challenges, community hospital closures diminished during the pandemic, due...

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“Before CHC came on board, we didn’t have the infrastructure or insight we needed to improve the hospital’s performance. Today, there is such tremendous energy around here.”

~Karen Barber, Chief Executive Officer, Yoakum Community Hospital, Yoakum, Texas

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