There was a great article published on hospitalreviewmagazine.com, describing ways that hospitals can increase profitability, especially in times of significant competition and poor economic conditions.
Some fairly straightforward ideas include reducing costs (vendor management, brainstorming cost savings ideas with physicians) and maximizing efficiency (space, rooms, OR’s). Other ideas include partnering with local physicians, recruiting new staff, and offering unique and profitable services.
The article offers up some practical ideas that make it worth reading.
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