Regional Medical Center Ready to Close Its Doors Rallies with Huge Success
A rural Regional Medical Center was the only local hospital that was 2.5 hours from the closest airport. Rising cost and declining reimbursements caused them to be operating in the red. For years they fought to keep the doors open, but it was a losing battle. Everyone was exhausted. Morale was dropping. Turnover was high. And now they were forced to consider selling. If they did, the impact on the community would be devastating. People would have to drive 2 hours to get essential care.
In the first 6-8 months…
- RN Travelers were reduced from 25 to 7, resulting in reduced costs (eliminated in the following year)
- Quality and patient-satisfaction scores improved, so reimbursements rose
- Turnover and vacancies declined
- The medical center made a profit of $3M instead of a forecasted loss of $3.5M – they were operating in the black for the first time in years!
In the second year…
- The Regional Medical Center ranked near the top for all magnet hospitals (the top 500 hospitals in the United States) based on patient-care standards.
- Hospital and all clinics successfully tested for Meaningful Use, generating $1.5M in reimbursements
- The Medical Center was recognized by Health Grade as being in the top 50 hospitals in the country for safety
- No turnover in leadership positions and overall increase in employee retention