The rapidly changing healthcare landscape is creating an uncomfortable level of uncertainty. Healthcare organizations need to keep up with information and technology advances, increasing legislative reform, industry policies, and regulatory and reporting demands. Organizations with strong leadership and management, that can adapt to changes quickly, will stay at the forefront of the industry.
Delivery of modern healthcare is all a matter of supply and demand. The demand side includes a large population of aging patients in deteriorating health that require more services and medical breakthroughs. The supply side, however, is hindered by shrinking reimbursements, lower endowments, and the difficulty of acquiring a loan in today’s environment. Healthcare organizations lacking strong profitability and substantial cash reserves will find it harder to secure funding for expanding services that support growing demand.
Those who want to succeed in healthcare must recognize the supply and demand imbalance and respond with more effective and efficient processes; while containing operating costs and sustaining profitability. A leading priority for many will be a renewed focus on strategy planning and cost management initiatives while maintaining compliance with regulatory demands.