In today’s world, hospitals are facing many big challenges like economic recession, growing competition, increases in uninsured care, and increase in different outpatient services. That’s why; increasing hospital revenue and providing patient satisfaction simultaneously are not possible together! These two goals are mutually exclusive to achieve. But, if you want to make your hospital successful then you must know how to increase patients and revenues of hospitals simultaneously!
How can hospitals increase their profitability while offering patient satisfaction?
If hospitals want to increase their organizational profitability effectively then they need to focus on increasing reimbursement and reducing costs. But, increasing hospital’s overall profitability by reducing costs is not an easy thing to achieve. Hospitals must increase the revenue and reimbursement as well.
First, check whether your hospital’s Patient Access function is providing satisfaction to your hospital’s patients or not. You can make an informed decision by following which you think your patients will be much satisfied. Win their trust by providing them the best treatment and care at the best price. Then only, you will be able to give other hospitals a tough competition. Creating a positive environment can actually decrease the patient stress level. Indirectly, this results in higher upfront payments and out-of-pocket expenses.
Wondering how to increase patients and revenues of hospitals? No need to look further! Start following each and every necessary step to revitalizing your hospital’s Patient Access operation. Have a clear understanding of why your hospital is failing to generate enough revenue. Find out the market drivers and screen your patients upfront to predict those who might not pay you back for your services. You need to manage the streamline staff and follow all financial clearance activities.
You can reduce your hospital’s staffing costs by driving staffing decisions. Otherwise, you can reduce your hospital’s supply costs by managing all the vendors in a better way. Don’t forget to make sure that your OR is perfectly utilized by the physicians. If you know how to increase patients and revenues of hospitals, then no one can stop your hospital to increase its profitability!