Bizhealthcare - 23 Oct 2019
"Many of the gaps where healthcare facilities are haemorrhaging profits are related to inefficiencies and pain points that result from the dissatisfaction of other stakeholders in the network, such as patients and medical staff.
Patient satisfaction has been linked to healthcare facilities’ financial performance, as most patients who are not happy with their overall “patient experience” are prone to seek a different healthcare provider. At the same time, job satisfaction of healthcare professionals impacts on a hospital’s ability to attract and retain talent, with medical staff likely to stay at a facility that offers the best work environment and equipment.
In addition, outdated and inefficient systems can profoundly impact costs at hospitals and clinics, and these can easily spiral out of control if not modernised and updated.
A recent study by McKinsey urges healthcare facilities to reinvent the business by aggressively reallocating capital and resources toward future business models, either through investments in technology (including medical science and technology, machine learning/artificial intelligence, advanced analytics, or digital), care delivery models (distributed sites of care), managed care models, or all three."
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