Academic Specialty Hospital
Company:Academic Specialty Hospital
A nationally-recognized, specialty hospital had been losing money annually for more than five years. In the most recent year, the loss exceeded $15MM.
A Focus Professional was engaged to determine the causes of the loss and to make financial and operational improvements.
Upon analysis, losses were determined to be primarily a problem of inadequate volume and poor revenue cycle management. Working alongside the client, the Focus Professional improved efficiency in the scheduling system and increased physician productivity.
As a result, outpatient volumes were increased by a compounded annual growth of 10.6% and surgical volume, a key driver of improved financial performance, was increased by a compounded annual growth of 12.1%. The organization achieved operational breakeven.