Turning around financially distressed hospitals.
Just as a hospital's financial distress seldom results from a single mistake or catastrophe, its recovery involves a complex interplay between leadership, resources, and strategic action. To create a turnaround plan aimed at restoring a hospital to fiscal health, management must appoint a steering committee to oversee the effort; complete a thorough assessment of damage caused by financial problems; reduce operating expenses such as staffing and supply costs; and take steps to improve cash flow.
DiMarco
J M
JM
Vazquez
W J
WJ
Hoffman
T H
TH
D000067:Accounts Payable and Receivable; D005376:Financial Management / Q000379:methods*; D005377:Financial Management, Hospital / Q000379:methods*; D006075:Governing Board; D007324:Institutional Management Teams; D007857:Leadership; D009934:Organization and Administration; D010934:Planning Techniques