Healthcare is in flux. Many senior hospital leaders are looking for new ways to capitalize on change to improve top-line performance and fund growth initiatives. More often than not, those strategies are based on simple, economical practices.
A Lesser Publicized Impact of an ACA Repeal is the Potential for Diminished Innovation
While the Affordable Care Act (ACA) remains intact, the uncertainty over the long-term fate of the ACA continues to drive volatility within healthcare markets. The possibility of a partial or entire repeal over the next 18 months has many hospitals wondering if this will only add to their current revenue challenges. Even a partial repeal will increase the number of uninsured non-elderly citizens from approximately 16M in 2016 to an estimated 50M by 2020. Rolling back coverage leads to higher levels of uncompensated care, increased bad debt and low credit ratings for hospitals.
The ACA includes significant financial incentives for hospitals to innovate and discover new ways to care for patients that reduce costs while improving clinical outcomes. Some hospitals have already launched — and partially paid for – the exploration of new organizational structures, technologies, and processes based on these incentives. Losing that incentive structure as part of a repeal will either shut down some innovation efforts or force hospitals to find ways to fund them on their own.
Senior Leaders at Many Hospitals Aren’t Waiting for the Fate of the ACA to be Determined
Hospital leadership are working with process and technology partners to identify new ways to improve top-line performance. Improvement efforts include cost-saving strategies that allow them to “find” money in their current operations that they can use to drive hospital growth initiatives. You can read about some of the best revenue-generating and cost-saving ideas we’ve seen in a new executive report entitled, “Capitalizing on Change to Grow Hospital Revenues: Simple, Economical Strategies Emerge from the Fray.”
This executive brief — which is part of a collection of insights you’ll find in our Resource Center — focuses on three simple changes hospitals can make to recover wasted spending, which can then be used to fund growth initiatives.
Click the link above or the image below to download the executive report detailing how your hospital can quickly grow revenues.