To Keep Up with Market Retail Competition, Rural & Community Hospitals Must Innovate
Emerging technology and telehealth services have accelerated new market competition, and large corporations are taking advantage of these opportunities. As retail-based options continue to disrupt the market, rural and community Hospitals must develop a clear health strategy and follow through on post-pandemic priorities to meet the evolving needs of their communities and stay relevant in this changing landscape.
For CAHs to compete, they will have to move away from the current fee-for-service payment system and work toward a population-based payment system. With this, hospitals will receive payment on a per capita basis and must determine how to care for a specific population within their service area.
This transition may prove to be challenging and to help navigate this, we developed the Transition Framework comprised of five key initiatives:
- Improving Operating Efficiencies, Patient Safety, and Quality
- Align with Primary Care Physicians
- Rationalize a Service Network
- Develop a Population Health Foundation
- Begin Proactively Transitioning Payment Systems
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