What keeps hospital CEOs up at night?
April 26, 2018
As the healthcare landscape continues to evolve, leaders face increasing challenges around improving care while keeping costs affordable. Becker’s recently reported on an annual survey by the American College of Healthcare Executives (ACHE) that listed the 10 most concerning issues for hospital CEOs after surveying over 1,000 community hospital CEOs. Not to my surprise, all the challenges are ones that we frequently discuss with our customers at Infor Health.
Here’s what I hear most often with our customers and how we can help:
- Financial challenges: The number one ranked challenge is reimbursements, increasing cost for staffing and supplies, and reducing operating costs. Healthcare organizations need to be able to determine the true costs to perform the activities required to deliver quality care to patients. Infor TrueCost represents the first healthcare cost accounting solution that will allocate expenses to and within each patient servicing department to patient-level cost objects.
- Personnel shortages: Another major concern is with personnel shortages, specifically nurses. The turnover rate for nursing staff will continue to be a problem unless organizations adopt technology that helps hire the right clinicians for the right role. Infor Talent Science helps identify, select, retain, and develop the right talent across the employee life cycle. Talent Science can also help personalize the work experience to retain nurses, which is illustrated in this infographic.
- Patient safety and quality: To support positive care experiences, hospital leaders need to ensure that patients are treated in environments that are conducive to healing. Patients need to be able to relax and rest in a comfortable, quiet, safe space. An enterprise asset management system can help proactively manage a hospital's physical environment and ensure equipment is working properly for greater patient comfort—and satisfaction.
- Patient satisfaction: Interaction with hospital staff plays a major role in patient satisfaction. Patients want to feel that they are receiving the best care from clinicians who fit their needs. Patient-centered workforce management technologies can align caregiver’s professional skills and personality traits to specific patient needs based on best fit, to help ensure quality outcomes, patient safety, improve career satisfaction, and reduce staff turnover.
- Reorganizations: Healthcare organizations continue to go through restructuring such as mergers and acquisitions. One of the major trends that drives this merger activity is the desire to gain more control over care delivery as the cost of healthcare rises along with reimbursement pressures. In a previous blog, I discuss trends in hospital mergers to combat the rise in healthcare costs and how to make an easy transition with technology for streamlining data exchange.
Regardless of the role you play in healthcare, your ultimate objective is the same—put patients first. You need a partner that speaks your language; one that helps you make the right decisions every day to combat the challenges listed above. Infor Health is born to care, with solutions built by healthcare professionals for healthcare professionals to help you build organizations that are clinically integrated, financially sound, operationally efficient, and talent rich.
Is your organization experiencing similar challenges? Please share your thoughts below.
Tim Brown, Chief Business Information Officer
- North America