Health Directions, LLC
Hospital Management for Healthcare Industry Professionals
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Providers, payers, and healthcare consumers face the same question: What drives the limitless rise in healthcare costs, and what are the solutions?
Health Directions has the answers. Since 1985, we've worked with hospitals as diverse as Ingalls (Harvey, Illinois), Staten Island University Hospital (New-York), and Memorial Healthcare (Michigan). We understand what keeps healthcare executives and physician leaders up at night, and what can be done to get a better night's sleep.
Healthcare Directions has the talent, experience, and drive to guide you through the assessment, planning, and implementation phases related to these issues:
Financial Trauma
- What can hospitals do to build a better bottom line?
- How can hospitals short-circuit or prevent financial downturns or collapses?
- What's the best way to respond to reimbursement declines?
- And what about the loss of income to ambulatory centers and specialty hospitals?
- Do you ignore it, join forces, compete, or stand and fight?
Where's the Money?
- Where can hospitals find the capital to invest in technology, infrastructure, and facilities?
- Should you build extra capacity to meet service demands, or try to better manage that demand the next time around?
- What happens when outpatient revenues exceed inpatient revenues?
- Will inpatient admissions decline as a result of advances in the life sciences, and will life science advance reduce length of stay?
Consumer Demand
- How can hospitals best deal with consumers and patients who crave unlimited benefits, access to new medical treatments, brand-name drugs, less restrictive networks, and affordable prices?
- What new services and new service standards will they request or demand?
- And what are the implications for fees and pricing of services?
Technology
- How can hospitals choose wisely and purchase needed, but costly information and clinical technologies?
- What technologies will become essential in the next three, five and ten years?
Workforce
- How can hospitals recruit and retain a quality healthcare workforce?
- What compensation systems and incentive-based organizational cultures will attract ever-more discriminating employees?
- How can hospitals hire and keep the best?
Where are the answers?
Among the solutions touted are tiered pricing strategies, cost shifting, identification of short-term efficiencies, modified consumer expectations, and even a complete overhaul of the nation's health care system. Health Directions is convinced that a hospital's key to success rests in an intense focus on day-today business operations. We also believe that every hospital executive team has the power to make a difference--in finances, technology, people, service development, and patient satisfaction.
Let Health Directions share how it can make a difference for you.
Project Example:
Client: Community Health
Client Problem/Situation:
- 75 plus physician group was losing over $3M annually.
- Low payor mix.
- No physician incentives..
HD Solution:
- Created strategic plan with a goal of $10M in new business with a 15% profit margin.
- Created a partnership with physicians in ownership of new services.
- Expanded geographically via an ambulatory care network that favorably impacted payor mix.
Result of HD Expertise:
- Board adopted the new strategic plan.
- Actual new revenue exceeded $13.5M with contribution margin of 35%.
- The partnership generated a 40% annual return to original investors.
