According to Advisory Board’s Annual Health Care CEO Survey, cost control has surpassed revenue growth as healthcare system CEOs’ number one priority. Hospitals are large enterprises, whether they are part of healthcare system with hundreds of hospitals, or a single hospital with hundreds of beds. Additionally, each hospital can encompass hundreds of employees in both clinical and operational faculties. Even as hospitals and their systems grow larger, 62 percent of surveyed CEOs identify “preparing the enterprise for sustainable cost control” as their top priority.
The executive director for research at Advisory Board noted that health system CEOs “recognize that any effective growth or financial-sustainability strategy must be built on a competitive cost structure in order for their enterprises to deliver high-quality, cost-effective care to the patients they serve.” Hospital leadership recognizes this importance in both the practice of care and the environment of care. But how? [Read more…] about Prioritizing Hospital CEOs’ #1 Priority: Cost Control and the Physical Environment