Future of FMHHS
To summarize this series on the hospital, I am going to give you my opinion on the direction that FMHHS needs to take to financially survive in the 21st century.
The market place over the next 5 years will continue to expand. Patients want more choices, faster service, up-to-date diagnostics and equipment and the latest innovations and procedures.
Doctors are facing dwindling reimbursements, increased overhead, more regulations from the government and insurers, higher malpractice premiums all leading to declining salaries. Doctors will continue to look at doing more of the testing and procedures in their offices and/or in physician owned facilities as a way to maintain their incomes. Doctors will not continue to accept income losses year after year. They will also begin limiting or refusing to accept some insurances, Medicaid, and Medicare if the hassles and poor reimbursements continue at the current pace.
Hospitals cannot survive without physicians directing patients to their facility. Ninety percent of patients will go to the facility their physician recommends. It is therefore imperative that hospitals meet the needs of the physicians that utilize them and also build meaningful relationships with the physicians.
I believe that collaborative partnerships between hospitals and physicians are absolutely the best means for success. Partnering will mean that hospitals will split the profits of activities they for years have taken 100 percent. Without collaborative arrangements, physicians will partner with each other and continually drain the hospital of the lucrative procedures and tests and leave the hospital managing mainly money-losing inpatient care.
CEO’s and Boards who cannot or are unwilling to adjust to this paradigm shift of partnering with physicians will lead their hospitals into financial ruin. It may take time for some that are currently financially solvent to decline, but as more competition arrives, the steepness of the downward slope will increase.
This is the philosophical difference I have from our current leadership. I believe that the current CEO will not change his philosophy and cannot be trusted when dealing with physicians in these types of collaborative arrangements. His track record with physician relations and employee relations speaks for itself. I fear that if a smooth transition of leadership is not proactively instituted over the next two years, the delay will drain the financial security of FMHHS and limit our abilities for future growth.
The market place over the next 5 years will continue to expand. Patients want more choices, faster service, up-to-date diagnostics and equipment and the latest innovations and procedures.
Doctors are facing dwindling reimbursements, increased overhead, more regulations from the government and insurers, higher malpractice premiums all leading to declining salaries. Doctors will continue to look at doing more of the testing and procedures in their offices and/or in physician owned facilities as a way to maintain their incomes. Doctors will not continue to accept income losses year after year. They will also begin limiting or refusing to accept some insurances, Medicaid, and Medicare if the hassles and poor reimbursements continue at the current pace.
Hospitals cannot survive without physicians directing patients to their facility. Ninety percent of patients will go to the facility their physician recommends. It is therefore imperative that hospitals meet the needs of the physicians that utilize them and also build meaningful relationships with the physicians.
I believe that collaborative partnerships between hospitals and physicians are absolutely the best means for success. Partnering will mean that hospitals will split the profits of activities they for years have taken 100 percent. Without collaborative arrangements, physicians will partner with each other and continually drain the hospital of the lucrative procedures and tests and leave the hospital managing mainly money-losing inpatient care.
CEO’s and Boards who cannot or are unwilling to adjust to this paradigm shift of partnering with physicians will lead their hospitals into financial ruin. It may take time for some that are currently financially solvent to decline, but as more competition arrives, the steepness of the downward slope will increase.
This is the philosophical difference I have from our current leadership. I believe that the current CEO will not change his philosophy and cannot be trusted when dealing with physicians in these types of collaborative arrangements. His track record with physician relations and employee relations speaks for itself. I fear that if a smooth transition of leadership is not proactively instituted over the next two years, the delay will drain the financial security of FMHHS and limit our abilities for future growth.
posted by Anonymous at 5:47 AM
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