Three Ways Rural Hospitals Can Reverse Financial Distress
Thin margins have long been a reality for most rural hospitals, but a worsening array of issues—from increasing charity care and bad debt to declining reimbursements and rural populations—have forced growing numbers of them into financial distress. Despite today’s challenging operating environment, many rural hospitals across the country are using a practical approach to get turned around before bankruptcy or closure become imminent threats.
Step 1: AWARENESS
Know the signs and symptoms of declining financial health
Certain financial indicators are clear signs that “business as usual” isn’t working and course...