Course: Principle Of Healthcare FinanceWhat is a best practice for increasing hospital profitability? Adding a service line Reduce staffing and supply costs Involve physicians in cost reduction strategies All of these

Answered: What is a best practice for increasing…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Course: Principle Of Healthcare Finance

What is a best practice for increasing hospital profitability?

		Adding a service line
		Reduce staffing and supply costs
		Involve physicians in cost reduction strategies
		All of these

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Hospitals today face many difficulties including a financial downturn, expansions in uninsured consideration, and developing rivalry for outpatient administrations. Notwithstanding, there are as yet many advances hospitals can take to build their profitability in the midst of these financial conditions. Industry specialists say that hospitals wishing to expand their profitability can zero in on two key regions — lessening costs and expanding reimbursement.

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