Goldman Sachs Report Offers Glimpse Into Survival Tactics
May 30, 2010
Posted by chcablogadmin in : Cost Reduction, Financial Viability
When the CFOs gathered in New York a few weeks ago to hear the Goldman Sachs report highlighting financial comparisons from 36 CHCA children’s hospitals, most agreed 2009 was a tumultuous year. Quite frankly, none of us were surprised by the report. However, it generated intense conversation about survival strategies children’s hospitals are deploying.
For the most part, you tightened your belts, streamlined your operations and staved off serious profitability declines. Overall profitability declined in every category, but cash rebounded. Larger hospitals enjoyed robust revenue growth despite the lousy economy.
Be watching the blog over the next several weeks as a few of your fellow CEOs share some of their most successful strategies, such as:
– workforce improvements
– unique cost savings
– provider taxes
Please discuss your hospital’s report with your CFO if you haven’t already done so. If you need a copy of the report, send me an email (don.black@chca.com) and I’d be happy to forward it to you.
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