1 ADVANCE for Executive Insight

More documents

Recommendations

Info

Match Needs with Consultant’s Expertise Talk to hospital CEOs and board chairs in the industry to obtain referrals for consulting companies to contact. Look for consultants with experience with similar organizations and issues. Avoid hiring generalists. Speak with comparable-size hospitals or facilities about their experiences with consultants. Be specific about your situation and the specific problems you need help with. Review the consultant’s backcEO Perspective Try to ascertain whether a candidate will remain with the position and see it through to completion. It will be a serious setback if you have to begin the search process all over again. a hospital would probably not survive without outside help. That was the scenario in 2009 when Sierra Kings District Hospital, a 49-bed district hospital outside Fresno, CA, which included five rural health clinics and growing emergency room services, was forced to file for bankruptcy because of poor financial performance and mismanagement. The hospital’s finances had reached a point that they could not purchase bandages or other basic supplies. When the Board realized that their debt covenants were not being met, they were required to hire an outside consultant to assist with an operational assessment and improvement plan to get the hospital back in compliance with their debt covenants. However, it quickly became apparent that the existing CEO and CFO were not moving forward quickly enough with implementing the improvement plan. For Sierra Kings District Hospital, an outside consultant was required who could bring in an inter-disciplinary team that included an interim CEO and CFO, specialists in revenue cycle, patient accounting, coding, reimbursement, labor and non-labor performance and rural health clinic operations. Over a 2-year period, this team successfully worked with the Sierra Kings District Hospital Board, physicians and staff to improve financial performance of the hospital and assisted the hospital’s bankruptcy attorney to achieve approval of the hospital’s bankruptcy plan. As a result, the team also assisted the Board in finding a longterm partner to manage the hospital and ensure that the hospital would be able to repay all debts at 100 cents on the dollar owed to its creditors. From the Sierra Kings situation, insight was gained by the Board regarding best practices for hiring a healthcare consultant. Thinkstock/iStockphoto 18 ADVANCE for Executive Insight
Choosing us for your complex challanges It’s academic Your job is more challenging today than ever before. We can help. With programs and connectivity solutions that help strengthen ties to your physicians and patients. With industry-leading IT solutions that can drive more efficiency and help you manage costs. And with medical consultation that can provide insights to difficult cases, leading to improved patient care. Put Quest Diagnostics to the test. Quest Diagnostics Hospital Services Specialized services for your complex challenges Visit www.questdiagnostics.com/hospitalservices or contact a Quest Diagnostics representative to discover more. Quest, Quest Diagnostics, the associated logo and all associated Quest Diagnostics marks are the trademarks of Quest Diagnostics. © 2012 Quest Diagnostics Incorporated All rights reserved. ADVANCE for Executive Insight 19
Page 1 and 2: 1 ADVANCE for Executive Insight
Page 3 and 4: This is the shape of your patients.
Page 5 and 6: ADVANCE for Executive Insight 5
Page 7 and 8: This is how we help strengthen and
Page 9 and 10: WHO GOES OUT FOR HOSPITAL FOOD? If
Page 11 and 12: How much will you lose to take-back
Page 13 and 14: healthcare it cluded hot disaster r
Page 15 and 16: cover story Finance alone can no lo
Page 17: are some practical things to consid
Page 21 and 22: CoO Perspective Facility Redesign t
Page 23 and 24: Choosing us to help you manage lab
Page 25 and 26: ADVANCE for Executive Insight 25
Page 27 and 28: esults. ADVANCE for Executive Insig
Page 29 and 30: delivered. Speed. Scalability. Reli
Page 31 and 32: “ Rapid clinical adoption of the
Page 33 and 34: clinical lab efficiency Executive-l
Page 35 and 36: FAST TIMES IN CHINA: We helped one
Page 37 and 38: kyle kielinski drugs, it manages, a
Page 39 and 40: evenue cycle management Remember th
Page 41 and 42: 89 % of average consumers will reme
Page 43 and 44: DIABETES that works well since I’
Page 45 and 46: Join RBMA this fall as we return to
Page 47 and 48: equirements you put together earlie
Page 49 and 50: I need to improve care, efficiency
Page 51 and 52: The Key to Breakthroughs in Patient

1 ADVANCE for Executive Insight

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?