Matthew Rechin’s Post

🚨 Kaufman Hall's April report on hospital performance is out! While the financials are stabilizing (April was a relatively good month), it's alarming that over 40% of US hospitals are still losing money. Even more concerning is the widening gap between high and low-performing hospitals. What sets the high performers apart? A consistent theme of embracing proactive strategies, including: 🔹 Better alignment of teams 🔹 Utilization of technologies 🔹 Overhaul of current processes ➡ Read the whole report here: https://lnkd.in/gmujypwm #Healthcare #HealthcareSupplyChain #HospitalPerformance

While hospitals’ overall performance declined slightly in September compared to the previous month, the median Kaufman Hall Calendar Year-To-Date Operating Margin Index reflecting actual margins was 1.4% in September. This slight increase was due to the historical variation in the performance of hospitals across 2023. This month’s National Hospital Flash Report highlights recommendations around the need for organizations to be more strategic about how they utilize and retain providers and support staff. #healthcaremanagement #workforce #healthcaredata https://lnkd.in/gY-6mB6Y

We continue to struggle to keep hospitals afloat! As Kaufman Hall states in"America’s Hospitals Need a Makeover" by addressing: 1) The Revenue Side: Getting paid for what you are doing and the severity of the patient you are treating— requiring accurate clinical documentation, rapid revenue cycle and looking for any NEW revenue. 2) The Expense Side: An ongoing approach to optimizing workforce performance, streamlining care management / patient throughput, rethinking shared services and realizing savings opportunities for administrative services, purchased services, and the supply chain. AND 3) Manage Change... Not tackling one issue at a time in linear fashion but making a sophisticated assessment of multiple solutions and studying potential inter-dependencies, interactions, and intertwined effects.  NOTE: For VVV Consultants LLC clients this occurs during #SeriousStrategicPlanning retreat Day#2 stakeholder conversations when we create KEY “Critical Success Initiatives” next 90 days! Vince Vandehaar. 913 302-7264

Gain exclusive insights on how Houston Methodist is building a healthcare ecosystem where the individual is not just a patient, but an active participant in their own care. The forthcoming Houston Methodist Cypress Hospital is scheduled to open its doors in early 2025. This cutting-edge, technology-advanced facility represents a significant milestone in the journey to revolutionize healthcare delivery. The Houston Methodist Cypress Hospital is poised to redefine the healthcare experience beyond mere functionality to one that nurtures not only physical healing but also emotional well-being. Join Vice President, COO, CMO, CQO, Dr. Nicholas Desai, DPM, MBA, FACFAS and Vice President, IT Applications and Innovation, Michelle Stansbury to learn how they're planning to bring the hospital of the future from ideation to delivery. Don't miss their highly anticipated discussion taking place at The Healthcare Innovation Congress (thINc360) Care Delivery Transformation Track on Thursday, May 30th in Washington, DC. Register by Friday, March 22, 2024 and save an extra $100 off the early rates with promo code SM2024.* (That's up to $800 off the final rates.) Your ticket offers a tailored educational journey and experience for every healthcare sector. 👉 Register Now:  https://lnkd.in/d3YTmxHJ #thINc360 #HealthcareInnovation #InnovationInHealthcare #healthcare #FutureofHealthcare #health #healthandwellness #HealthcareLeadership #healthcareonlinkedin #HealthcareTransformation #Leadership #hospital #hospitals #medical #hospitalofthefuture

A massive thank you to everyone who attended our Advancing Healthcare Efficiency round table last week. When exploring the topics of data confidence and hospital productivity, two things were abundantly clear: there is an incredibly positive appetite for change and doing new things from NHS leaders; and there is a desperate need for the correct investment in both estates and technology. All our attendees echoed the same sentiment: our only hope for tackling waiting lists is to enable organisations to have a positive culture in theatres. Whether this comes from having open dialogue with providers, giving autonomy to frontline theatre staff to manage their stations, or having the correct incentives in place, one thing is for sure - collaborative effort and strategic investment are crucial for driving meaningful progress. Thank you again to all attendees for an insightful and thought-provoking discussion, and a big thank you to the Royal Society of Medicine for hosting us! We look forward to continuing these important discussions and working together to make these necessary changes a reality. Scott Fletcher Richard Parker Jamie Papasavvas Joseph Frost Andrew Bucknor Rob O'Connor #NHSInnovation #ElectiveCare #HealthcareExcellence #NHSLeadership #HealthTransformation #NHS #HealthTech #Technology #Innovation

This survey sheds light on several key factors contributing to the strain on healthcare facilities. These challenges not only impact the efficiency and effectiveness of hospital operations but also place significant stress on healthcare professionals. Addressing these operational demands requires innovative solutions and collaborative efforts. Streamlining processes, investing in technology, and fostering a supportive work environment are essential steps towards alleviating the burden on hospital staff and improving patient care. #Healthcare #Perioperative #SurgicalServices #WhitmanPartners 𝗶𝗻𝗳𝗼@𝘄𝗵𝗶𝘁𝗺𝗮𝗻𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀.𝗰𝗼𝗺

This AHD*lab post discusses the importance of having your design professionals perform construction administration during the construction phase of an ambulatory healthcare facility. You can find the post at this link: https://lnkd.in/emggbuHZ #ambulatorysurgery #healthcaredesign #outpatientsurgery #asc #healthcareconstruction

Key Takeaways from the latest Kaufman Hall National Hospital Flash Report: 1. Hospital margins underperformed in June compared to the previous month. Despite an overall trend of continued improvement, most hospitals underperformed slightly compared to May. Fiscal year-end accounting adjustments may have also contributed to the performance bump in June. 2. Average lengths of stay continue to decrease, and emergency department visits are down. Patient volumes continue to stabilize, and increases in outpatient revenue indicate people are continuing to shift away from inpatient settings. 3. Bad debt and charity care are increasing. Hospitals are being affected as states step up efforts to redetermine Medicaid eligibility and more people are disenrolled. 4. Inflation continues to challenge hospitals' performance. Supplies and purchased service expenses remain high. Decreases in labor expenses may indicate higher staff turnover and even reductions in the workforce. When you're under the intense pressure of managing fluctuating revenue and finding creative ways to reduce costs, test automation can help. SureTest's managed test automation solution optimizes your staff and gives you game-changing efficiency while helping you improve patient care. It's a win, win, win. #TestAutomation #EHRtesting #HealthTech https://lnkd.in/ezHNPkHT

The term "strategy" is often misused when referring to clever techniques or smart ideas. However, a strategy is a comprehensive plan designed to achieve long-term goals. It involves detailed analysis, resource allocation, and careful consideration of various factors to ensure sustained success and competitive advantage. While smart techniques and ideas are crucial components, they are typically tactical in nature and focus on short-term gains rather than the overarching vision that defines a true strategy.

"While recovery is non-linear, now is an opportune time for hospitals to reinvigorate strategic financial and capital planning efforts that may have been previously curtailed." "While deferring capital investment may have been prudent in the face of recent financial pressures, waiting too long to re-engage in a strategic financial and capital planning process could threaten the long-term relevance and viability of organizations as they fall behind the needs of their communities and actions of their competitors." The status quo slowly coming out of these financial pressures will not suffice to continue to serve communities and compete for market share.