INCREASING

2 Executive insight: increasing profitability
Executive question & answer
Q:
What was an instance you turned a profit in
a formerly non-profitable area, and how?
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➤ Johnny Kuo
Chief Operating Officer,
Gracie Square Hospital, New York, NY
A:
Hospital utilization and services:
inpatient volume, health insurance
benefits, behavioral health programs, community
benefit services.
Hospital utilization is affected by demographics (number
and age of service area population), changes in health
insurance benefits such as growth of managed care,
hospital service capacity, marketing and market share
and area health status. Increasing volume generally helps
performance, since hospitals have fixed costs that are
more easily spread with higher volume. Many community
benefit services are not profitable, but address important
healthcare needs.
➤ Christine Schuster
President and CEO,
Emerson Hospital, Concord, MA
A:
Transitional care unit; keeping
tight control on labor expenses.
➤ Frank Corvino
President and CEO,
Greenwich Hospital, Greenwich, CT
A:
Occupational health; there’s a
market for increased volume
and services to companies.
➤ Amir Dan Rubin
President and CEO,
Stanford Hospital & Clinics, Palo Alto, CA
A:
Improving profit through increased
Medicaid eligibility efforts
(including on-site department of health staff), concurrent
documentation efforts and managed care contract
carve-outs for implants.
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