Here we are, once again, standing on the precipice of a new year. Turning the calendar page means millions of people will make resolutions – some of which, unfortunately, won’t be kept, but all are important for setting a tone and a vision for the New Year.
For hospitals, an important resolution well worth keeping is a commitment to increasing profitability. In an era of declining reimbursement and growing regulations, hospitals must get creative in finding new sources of revenue and reducing expenses associated with ongoing operations.
As 2018 looms closer, consider these five ideas to get a head start on your profit-building resolution-making plans.
1. Improve Patient Experience
Improving patient experience should be a chief aim of any hospital, not just at the beginning of the year but every day. Doing so can result in a stream of new patients coming through your clinical service line and emergency department doors and lead to satisfied patients returning to your...