2 Hidden Hospital Cost Saving Strategies

By District Energy posted 03-19-2019 00:00

  

Keith McAslan, GREENandSAVE.com

Summary

HFMA - The Case for Greater Cost Control

According to Rich Daly, Healthcare Financial Management Association (HFMA) Senior Editor Hospital and Health Care systems have realized they aren’t going to grow their way out of the margin pressures that they are facing. 

The case for greater cost control at hospitals received its latest boost from a recent national survey of hospital executives. The growing urgency comes amid shrinking margins and cash flow.  

Cost control eclipsed revenue growth as the top priority among health system CEOs, according to Advisory Board’s  Annual Health Care CEO Survey. The nationwide survey of 146 C-suite executives, conducted between December 2017 and March 2018, found 62 percent “were extremely interested” in cost control.

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