How To Boost the Profitability of Your Service Lines
In a new SHCM article, Stewart Gandolf, CEO of Healthcare Success Strategies, writes that:
Clinical service department profitability is a constant challenge for hospitals. That’s nothing new. What’s changed, however, is just about everything else.
He explains how patients, newly empowered, now regard medical services through the critical eyes of retail shoppers. Health care reform, facility mergers and acquisitions, and increasingly intense competition have business savvy CEOs and marketing pros focused on their ROI.
Some health care facilities have been creating completely new service lines in an effort to seek payback over the long term. But a more natural starting point for many hospitals is to look at what’s already there.
By applying fresh thinking, you can attract even more patients to existing departments that already possess wide appeal, good margins, and maximum profitability.
To get new ideas about key shifts in branding, a move to a new consumer-centric model, and more ways to improve return from existing service lines, read Gandolf’s article, New School Marketing Shifts that Boost Service Line Profitability.
Best regards—and Happy New Year!