Key Opportunities Hospitals Leaders Shouldn’t Overlook
The trials of 2020 have left many in the healthcare industry searching for ways to diversify their income. Due to COVID-19, hospitals across the nation are estimated to lose $200 billion between March 1 and June 30, according to a report from the American Hospital Association. This current financial strain and shaky future prospects are pushing healthcare institutions to find creative ways to keep revenue flowing while still maintaining high-quality care.
Becker’s Hospital Review cites the reimbursement landscape challenges and dwindling patient volumes as two main factors leading at least 29 hospitals across the U.S. to file for bankruptcy this year. In this post, we’ll consider how hospital leaders can turn these leading indicators of distress into golden opportunities for growth.