Forbes March 30, 2023
Many of our country’s largest health systems suffered staggering financial losses last year, and the outlook for not-for-profit hospitals in particular, which benefit handsomely from their generous tax-exempt status, is equally troubling. Hundreds of rural hospitals have shut their doors in recent years, and close to 30% of the remaining ones are at risk of closing. All of this to say, the healthcare delivery industry is clearly in a state of economic distress and panic. As it continues to wrestle with downward reimbursement pressures and other fiscal and operational challenges in a post-Covid world, leaders of these organizations need to realize that clutching to an outdated and broken fee-for-service (FFS) operating model will not get them out of this quagmire.
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