Hat tip to Sharon O’Keefe, CEO of the University of Chicago Medical Center, for introducing the phrase “make your assets sweat” to our team, which inspired me to write this article.
The Affordable Care Act, increased government regulations and rising healthcare costs are forcing hospitals to do more with less. Last year, several major healthcare networks took drastic steps to mitigate the financial stress: layoffs, consolidation and downsizing operations. While such large-scale changes may seem like the obvious way to react based on visible P&L line items, I believe that hospitals can do better by solving one of the root causes of low operational productivity: the underutilization of expensive assets.
Read the complete article as first published in Becker’s Hospital Review.