"Advice on Recession-Proofing Your Hospital"
Maggie Mahar has discovered a new blog called Hospital Impact that’s “dedicated for current and emerging hospital leaders, thinkers and enablers” and is offering some advice on how to weather the recession:
“In recent months, our industry has experienced unforeseen financial pressures as a result of the economic downturn impacting our patient volumes, operating income and investment income,” Joe Wasserman writes.
“It is easy and more fun to raise revenue than to cut costs,” he adds. “Look at raising prices if feasible. Check on your physician loyalty for additional referrals. Market the high margin services. Consider and evaluate initiating new services and closing non-profitable services.“
It’s disturbing to think that you might get referred to go to a hospital not because your physician deemed it medically necessary but because he’s especially “loyal” to the hospital in question. Or that you’re being recommended for a certain treatment because it’s “high margin” rather than medically optimal. Just a reminder that there’s plenty that’s wrong with the health care system.