The Veralon Views blog is an extension of our partnership with leaders who are transforming the healthcare industry. Here, we share expert perspectives from our nationally recognized senior consulting team on issues that are key to the success of your organization.
As hospitals rethink their approach to care delivery during the pandemic, many also are weighing whether partnership is needed. Now is a good time for leaders to consider: What would make an ideal partner? Even as hospitals face extreme financial pressure following COVID-19, some independents are finding that their financial standing may not be as […]
Among the many unexpected effects of COVID-19 is the loss of the “normal” patient population coming through physician offices to address their health concerns and seeking procedures. This lost volume has heightened the urgency to effectively address “leakage.” Research indicates that acquiring a new customer is anywhere from 5 to 25 times more expensive than […]
As hospital revenue shrivels amid the coronavirus pandemic, it’s time for independent hospitals to look in the mirror to determine how they stack up. Conducting a self-assessment isn’t just a useful approach for evaluating your organization’s capacity to survive the financial turmoil wrought by the pandemic. It’s also critical for recognizing what your organization brings […]
David Gorstein, MD, Managing Director of Health Innovations, LLC and expert in hospital leadership recruitment, discusses how COVID is transforming the role of the C-Suite. In particular, he makes a case for the importance of the Chief Transformation Officer and provided 3 real-life examples of CTO-led transformation.
John Harris details the role of the board in technology and innovation and outlines the three key types of innovations hospitals should be thinking about.
The pandemic provided an initial introduction to virtual care for many, and most patients and providers have responded positively, embracing its convenience. Health systems, hospitals, and other providers now need to take the time to develop a business plan that identifies opportunities to optimize virtual care platforms, drive revenue and adapt practices to effectively meet […]
As hospitals and health systems navigate a tumultuous economic environment following the COVID-19 outbreak, the need for standardized, value-based physician compensation plans has intensified. Even before the coronavirus pandemic, the median operating loss per health system-employed physician continues to be staggering. Many factors contribute to financial losses on employed physicians – costs related to physician […]
When it comes to developing a financial recovery plan for COVID-19, independent hospitals face more of an uphill climb than other hospitals. With 40 percent of hospitals reporting their revenue had been cut in half during the first month of the COVID-19 pandemic alone—and 55 percent reporting they had less than six months of days […]
COVID-19 has shocked the U.S healthcare system – forcing physician and administrative leaders to think critically about how their current service line models can be improved to better serve and treat their patient populations. Many service lines were designed to maximize patient throughput by offering multiple access points without much consideration for efficiency. As a […]
Mark Dubow, Director at Veralon, outlines four actionable steps hospital leadership can take to identify, choose, and resolve sacred cows that may be in the best financial interest for your organization.
