Driving Volume and Revenue in a Recessionary or Slow Growth Economy
"It's the economy stupid", to quote a now famous phrase. Revenue in hospitals, clinics and physician offices are down. Looming Medicare cuts. Slow pay or no pay from Medicaid programs across the country. Increased self-pays. Lowered insurance reimbursements. As much as we like to believe otherwise, healthcare is not a discretionary purchase. And, there is little if any differentiation between medical providers. With so many individuals out of work, consumer confidence eroding and wage earners fearful of losing jobs, healthcare, whether doctors visits, medication purchases, or hospitalizations, are the last thing on peoples' minds. What is a healthcare provider to do? We all know the drill. Cut costs, lay-off staff, hiring freeze, decrease marketing. etc. All retrenchment strategies to "weather the storm." In most cases necessary steps. All fatal to the healthcare organization. When recovery ensues, which it will, you can't take advantage of new opportuni...