Partnership’s Role in Achieving Hospital Financial Health Amid a Shifting Healthcare Landscape

Health executives are making “guarded bets” heading into 2024 planning – as many hospitals are struggling to make long-term strategic plans while also having to tackle immediate needs caused by ongoing financial hurdles.¹

To effectively achieve financially stability, health leaders are finding that partnership with a rehabilitation expert can help their hospital improve clinical and quality outcomes while expanding access to a vital form of care.

A contract management or joint-venture partnership equips hospitals with the knowledge, expertise and resources to help achieve and maintain strong financial performance.

Specifically, this expertise helps hospitals:

1. Improve hospital performance under value-based care
   The shift to value-based care has pushed hospitals to reduce spending while improving quality and outcomes. A study of value-based trends found that more than a third of national reimbursement contracts are now value-based.²
   
   A post-acute partnership strategy aids in a successful transition to value-based care. It can help:

• • • Equip hospital staff and leadership with the resources to increase care quality and efficiency.
    • Produce more timely transfers to post-acute settings.
    • Reduce readmission risk.
    • Generate long-term cost savings for the hospital overall.

2. Increase care efficiency to reduce readmissions
   Re-hospitalizations and other transfers in the post-acute setting can lead to poor patient satisfaction and care quality, ultimately creating negative financial consequences.
   
   Research shows that some of the lowest-performing hospitals around the nation can experience readmission penalties two to three times higher than those performing at an average rate.³
   
   Through specialized expertise, access to national resources and data, and a team with a refined strategy to recruit and retain top talent, a rehabilitation partner can greatly expand a hospital’s ability to provide excellent patient care in an efficient manner.
   
   Additionally, a qualified rehabilitation partner can also help:

• • • Streamline a patients care journey.
    • Produce faster patient recovery times.
    • Reduce care costs for both the patient and hospital.
    • Aid in effective staff training and education.
    • Create a more positive patient experience from admission to discharge.

When a hospital is able to rely on a partner for best-in-class rehabilitation expertise and resources, patients, staff and facility operations all benefit.

Read our white paper, “5 Financial Benefits of Rehabilitation Partnership” to discover the additional benefits strategic partnership can have on your hospital’s financial performance.

References:

1. Thomas, N. (2023). C-Suite Healthcare Planning “paralyzed by the tyranny of the urgent,” report says. Becker’s Hospital Review. https://www.beckershospitalreview.com/finance/c-suite-healthcare-planning-paralyzed-by-the-tyranny-of-the-urgent-report-says.html
2. Gold, J., & Duvall, S. (2020, June). The Next Decade of Value-Based Care. Hany's Managed Care. https://www.hanys.org/communications/publications/healthcare_intelligence_reports/docs/2020-06_the_next_decade_of_value_based_care.pdf
3. Barlow, K. (2018, August 2). Unlocking the Financial Benefits of a Post-Acute Strategy. Advisory Board. https://www.advisory.com/Topics/Post-Acute-Care/2018/08/Unlocking-the-Financial-Benefits-of-a-Post-Acute-Strategy.