Centralize a team to leverage data,  expertise and modeling

The pandemic surge decreased hospitals’ elective surgery volume and revenue to unanticipated levels. Organizations must quickly develop a thoughtful elective surgery reactivation plan that accounts for capacity, payer, safety, personnel and other considerations. 

Engaging a centralized planning team that includes strong data and expertise will empower your organization to model demand and capacity, anticipate and address operational hurdles and turn around revenue loss. Engaging with Vizient® resources and advisory can help hasten turnaround.

10-20% anticipated drop in 2020 margins from elective surgery cancellations due to COVID-19

Reignite the revenue engine

Think prepandemic and enact some traditional tactics to spark revenue turnaround. Deploy an initial focus on:

  • Resume nonemergent services
  • Expand patient access
  • Optimize documentation and coding

Redesign care delivery

Boost the revenue stream by assessing and redesigning care scope and process:

  • Build flexible capacity
  • Accelerate virtual and digital health
  • Optimize high-margin growth
  • Assess physician alignment
  • Identify adaptive workforce strategies

Reimagine the system of care

Comprehensive is key to revenue turnaround — expand your strategy to encompass a range of system operations:

  • Evaluate payer strategy
  • Pursue new growth opportunities
  • Analyze potential merger and acquisition or alliance opportunities
  • Evaluate facility design strategy
  • Diversify revenue sources

Resuming nonemergent services

Resuming elective procedures to earn back lost revenue isn’t as simple as reopening and rescheduling postponed procedures. Organizations must embark on developing a thoughtful elective surgery reactivation plan that accounts for capacity, payer, safety, personnel and other considerations.

Guidance for Resumption of Electively Scheduled Surgery and Procedures in the COVID-19 Era (white paper)

Sg2® Surge Demand Calculator (web page)

Staffing considerations

In addition to operational strain, health care organizations must address the stress on their workforce that results from financial and organizational uncertainty. Sound alignment and scheduling strategies can help minimize disruptions and maximize surgeon efficiency.

5 Pieces of Folk Wisdom to Help Address COVID-19 Workforce Shortages (blog)

Optimizing workforce yields nearly $14 million in savings (case study)

Advisory Solutions: Workforce Optimization (web page)

Man and woman wearing a mask

On-demand webinar series

Vizient and Sg2 partnered with HealthLeaders to present a three-part webinar series focused on the financial aspects of recovery after the COVID-19 outbreak. View each recorded session now.

Ramp Up Elective Volume: see how to develop models for operating income recovery

Staff Reset: review staffing levels, compensation and skill mix considerations for the new normal

The New Access Economy: learn about expanding consumer access to health care

Interested in guidance for planning your route to revenue recovery?

Help us understand your organization’s priorities for addressing revenue turnaround, then together we'll discuss specifics to support your goals.

Keep familiar goals in check, even on the journey to a new market normal

For deeper success, many organizations integrate their strategy to stabilize, adapt and evolve with initiatives that were pertinent even before the pandemic - cost, reliability, revenue and quality. We can help you improve these areas while keeping a fast pace on your successful journey to a new market normal.

Cost puzzle piece

Cost

Managing cost includes — but is not limited to — a focus on labor, supplies and reducing clinical variation. We offer expertise and analytics for a broader approach to help you innovatively and intentionally address workforce strategy, supply chain reliability and optimal utilization practices.

Doctor

Quality

High quality care is the core of your mission. Sustaining it calls for more than core clinical practices. Transform clinical quality with our experts and data analytics to innovate and build new care models, stronger safety standards and a more profound culture.

Reliability shield

Reliability

Providers now know severe disruption and more strongly understand the need for trust transparency and predictability of supply chain operations. A partner like Vizient, with proven analytics and supply decision experience, helps you increase predictability of supply chain operations with quality and safety in mind.

Future of healthcare person with binoculars

The future of health care

Unprecedented challenges require unprecedented speed and results. We're uniquely able to help your organization overcome today's challenges, and together, look ahead to build a stronger foundation for the future of health care.

Let's connect to help you build the future of health care