Given the current and anticipated reimbursement and cost pressures facing healthcare providers today, an organization’s ability to manage costs and margin remains an increasingly important strategic imperative. Today, few organizations are immune to this issue. Every organization is faced with the need to continually drive improvements to the bottom line through a myriad of efforts that improve cost position and/or generate additional revenue.
Meaningful and sustainable margin improvement requires fundamental redesign of clinical, operational and revenue cycle processes, and the creation of a high-performance culture. Regardless of where you are in the journey to improved margin performance, there are actions that you can take now to realize meaningful improvements to the bottom line while building your organization’s ongoing margin management capabilities.