How to heal a hospital’s finances

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A healthcare system created new policies and procedures for all its departments to address unpredictable costs and patient admissions.

Healthcare providers committed to providing quality services for the communities they serve are facing an unprecedented onslaught of challenges. It has never been harder for them to keep their institutions running at peak performance and to maintain the kinds of profit margins they need to remain viable. To survive and flourish, the healthcare system needed to increase its efficiency across all its departments, become much more cost-effective, implement processes that would help its staff become more patient-focused, drive down costs across the board, and increase its volume of patients while maintaining an excellent level of care.

PwC’s solution

To help design and implement new workflows and success metrics for departments by:

  • Deploying teams to address four major areas of concern.
  • Collecting and analyzing data to find key paths to improvement.
  • Creating new systems designed to address costs head-on.

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Impact on client’s business

  • The healthcare system protected its margins by finding ways to save over $10 million in FY16 with even more savings projected in FY17.
  • It has the tools it needs to measure success metrics and continue to improve its performance.
  • It has procedures it can replicate in more than a dozen other hospitals in its network.

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If the organization maintains the new procedures it has implemented, it can expect to save close to $11 million in year one and maintain that level of savings going forward, improving its margins and regaining the firm financial footing it needs to continue to provide high-quality healthcare all across its hospital network.

Contact us

Vinay Couto

PwC's Strategy&, Principal, PwC US