43H - Closing the Gap: Funding the New Normal of Healthcare Operations
Tuesday, March 21
Health systems across the U.S. are at a crossroads. The rapid increase in compensation and labor costs necessary to combat burnout and meet surge volumes has foundationally changed the operating cost structures of hospitals. In fact, recent data highlights that the median labor expense per discharge has climbed to 137% of pre-pandemic levels. More concerning still, experts agree that these costs are likely the new normal. So how can health systems operating on razor-thin margins remain sustainable?
This session offers insights from presenters’ experience as health system and consulting leaders as well as data from more than 100 executives from hospitals across the U.S. on how successful organizations are working to close the gap between current performance and the levels necessary to fund their future. Presenters will discuss research-based models, evidence-based strategies for prioritizing new initiatives and critical success factors based on the work of executives and transformation leaders in the field.
- Present evidence-based models and lessons learned from leaders across the country in how to lead and sustain margin transformation.
- Offer leaders an understanding of what it takes to effectively lead margin transformation at an organizational scale.
John Budd, FACHE
Allen Smith, MD