Re-branding of a healthcare institution

“Business problems are like mice – they go unnoticed until they start nibbling your cheese” – and then the alarms go off.

A tertiary care cardiac health facility that had been functional and doing good business for the past decade found a static pattern in its revenue stream, even though the hospital had a 90 percent occupancy rate (an impressive figure by industry standards) — even with such high occupancy rate, the hospital was unable to scale up its income, which caused the alarm bells to go off with the management.

From the start, the apparent problem was the static revenue stream despite the average occupancy of ninety percent – this symptom called for further investigation to determine the cause.

After further analysis, a series of mutually exclusive and collectively exhaustible lists were produced that shed light on the problem…

Rebranding healthcare institution:

From a multi-specialty facility to a super-specialty facility

Shift in the communication schedule

Upgrade equipment and soft skills

Shift in the reference base

Optimal use of resources:

Streamlining operational processes

Accounts receivable management

Rebranding healthcare institution:

After careful analysis of the hospital records, it was determined that the facility was 90 percent occupied, but the majority of these cases were the low general surgery/general medicine cases that blocked a hospital bed for the same number of days as a high-end hospital. final operation, but the return was different – the corrective measures included promoting the hospital as a super specialized center, doing the high-quality work. The facility had an excellent heart and nephrology infrastructure, which was never promoted and the general impression given was of a hospital doing only routine medical work.

Promotion of the super specialties:

This calls for special attention to the specific medical specialties for which we want the center to be a super specialty center – the medical specialists should be promoted accordingly. They should be encouraged to take part in community programs (through out-of-hospital camps) – this is an inexpensive medium for the specialists to reach out to people and build a connection with the community as a whole; special CME (Continuous Medical Education) programs should be conducted in the hospital facility and all referring physicians should be invited to participate – this allows for healthy interaction between the medical community and also showcases the hospital’s facilities, instilling confidence with the referring physicians. The marketing materials used by the hospital must also convey the same message.

Streamlining the operational processes:

In another institution, it was observed that although the patient was discharged in the morning, the patient was not able to leave the hospital until the afternoon – due to a delay in the discharge statement and the subsequent delay in the final bill, the hospital bed was blocked until noon and generated no revenue for the facility. Streamlining the discharge process ensured a timely exit from the system and the hospital bed was free to be reassigned to another patient.

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Accounts receivable management:

A large part of the hospital’s clientele are the corporate clients and insurance companies – their clients receive treatment on credit and the hospital receives payments after a certain number of days, as may have been agreed upon.

In general, the hospital should send all bills at the end of the month to maintain the accounts receivable cycle – but because internal processes were not in place, the hospital was unable to send full accounts receivable before the 10th of the next month and then the company/insurance company would make payments, according to the days specified in the agreement from the date of receipt of the bills. The hospital must ensure that bills are sent on time in order to keep the debtor cycle in order.