First American’s equipment finance
solutions are exclusively endorsed by
the American Hospital Association
(AHA).
SHIFTS IN REVENUE
“Since we’ve updated all of our major pieces of equipment, it’s helped us provide care to
our community. We are able to capture better revenues, and better serve the patient.”
Chris Rayner, CEO, Mississippi County Hospital System
A
s shifts in revenue streams are predicted for
healthcare, providers must decide on new revenue
sources and invest accordingly. Common investments
relate to:
+
+
+
new services
preventative care and wellness
a shift from inpatient care to outpatient care
Many providers are looking at what else they can offer to
better serve patients. Expansion of services can include
conventional services, such as rehabilitation centers,
surgical units, or specializations such as podiatry, allergy,
or psychiatry. Additionally, some providers are investing
in medical technology to enhance their services and
offerings. Examples include robotic assisted surgical
systems or optical scanners to assist in biopsy decisions.
Many of these innovations improve patient experience by
providing less invasive care with a faster recovery time.
Providers are also focusing on preventative care and
wellness. Promoting routine exams, screenings,
immunizations, and education about chronic disease are
all ways providers can help their community focus on
wellness. As a result, many diseases are detected early,
children are healthier, adults are able to make lifestyle
changes, and seniors are able to remain
COSTS ASSOCIATED WITH SHIFTS IN REVENUE:
independent longer. This can mean fewer ER visits,
earlier detection of disease, and longer lifespans for
community members.
As wellness becomes a priority, this leads to a shift
from inpatient care to outpatient care. Clinics, surgery
centers, doctors groups, and rehabilitation centers are
all offering outpatient services. These can be a great
alternative to a prolonged stay in the hospital, if the
medical team thinks the condition can be cared for
properly at the outpatient facilities. These outpatient
options reduce ER visits and lessen the strain on
hospital staff and resources. The majority of the time,
it also decreases costs for both the patient and the
provider.
Are you looking to offer
any new services? Expand
outpatient services/care?
What do you need
to do this?
+ Build out of more outpatient facilities.
+ Drive focus on wellness, preventative care and extend outreach to the community.
+ Invest in new services lines and technology.
*HFMA staff and volunteers determined that this product has met specific criteria developed under the HFMA Peer Review Process. HFMA does not endorse or guarantee the use of this product.
FIRST AMERICAN HEALTHCARE FINANCE
www.fahf.com/trends