HELP WHERE HOSPITALS NEED IT ®
HELP WHERE HOSPITALS NEED IT ®
Community Hospital Blog
In today’s healthcare industry, more and more hospitals are exploring various types of affiliations, ranging from governance and ownership transfers to business management contracts and clinical partnerships. While collaboration and consolidation are on the rise, plenty of hospitals remain independent. These standalone hospitals often share certain characteristics.
In an Oct. 31 article for Becker’s Hospital Review, CHC’s President and CEO Mike Williams discusses factors correlating with independence: size and demographics of the community; payer mix; strong finances (i.e., accumulated cash); and strong clinical relationships with physicians and institutions.
Williams also weighs in on a tough question: In today’s healthcare industry, is independence something hospitals should strive for? “Every hospital is unique,” he says, offering hospitals some considerations to evaluate:
A hospital can stay independent with sufficient motivation and finances, and if that’s the best way to serve the community, the article concludes.
The road ahead for community hospitals was the topic of a recent roundtable discussion involving CHC's president and CEO Mike Williams, along with three community hospital CEOs, and facilitated by editors of Health Leaders magazine. Highlights from their discussion are featured in the article "Decision Time for Community Hospitals" in the October issue of HealthLeaders.
For his part, Williams says hospitals must proactively and realistically assess "their own viability to be independent in the future." He advocates a close working relationship between the hospital CEO and its board for addressing issues and facing challenges that lie ahead.
In summary, the path of success for community hospitals depends on:
Gunnison Valley Health (GVH) in Gunnison, Colorado, selected CHC Consulting over two national hospital management firms to provide strategic support services. CHC Consulting has initiated a system-wide operational assessment to evaluate staffing, supply chain, revenue cycle, information technology and other potential areas for improvement at GVH. The support services agreement includes an action plan for implementing recommendations based on the assessment.
Serving the rural and remote communities of Gunnison County, GVH ranks among the National Rural Health Association’s Top 100 Critical Access Hospitals. GVH is one of only two Colorado hospitals to receive this recognition.
CHC Consulting is the management and consulting arm of Community Hospital Corporation. CHC has a 15-year track record of protecting and preserving community hospitals like Gunnison Valley Health, and we can help yours as well. We offer flexible, individualized consulting services along with ownership and management models as needed. Contact David Domingue at firstname.lastname@example.org today for more information.
Hospitals are expected to implement new payment and delivery models now that the Supreme Court has upheld the Patient Protection and Affordable Care Act. But community hospitals may have difficulties transforming their organizations due to limited resources and other challenges.
CHC’s president and CEO Mike Williams spoke this month with Becker’s Hospital Review about the challenges facing community hospitals and immediate actions to take in order to weather current and future changes in healthcare.
The four main challenges are:
Six actions can be taken immediately to address these challenges:
If these health reform challenges sound all too familiar, CHC can help with operations assessment, board education, strategy development and, if necessary, partnership options. Call us today at 972.943.6400.
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