Blog

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...


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Blog

10 Ways to Improve Hospital Financial Performance Through Productivity Management

The transition to value-based care has required hospitals to improve patient experiences and outcomes, all at a lower cost. In this model, hospitals are responsible for the cost differential, so the urgency around hospital financial performance improvement has intensified. One of the biggest opportunities for hospitals is managing staff productivity, which means maintaining the right number and mix of all staff based on patient diagnoses and volume. Optimizing productivity is paramount because labor is usually the greatest expense for hospitals.

In CHC’s experience, almost every hospital has room to improve...


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