Industry Analysis – Micro Hospitals

Industry Analysis – Micro Hospitals

Industry analysis is a tool that facilitates a company’s understanding of its position relative to other companies that produce similar products or services. Through this analysis, the strengths, weaknesses, opportunities and threats of a company can be identified.

Let’s take a closer look into micro hospitals. We’ll go over a quick industry analysis looking at the five competitive forces in the hospital industry such as threats, weaknesses and overall position in relation to the competition and profit potential.

Human Resource Management & Team building

Human Resource Management & Team building 

Human resource management is the strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer’s strategic objectives.

Developing a strong human resource management team can significantly increase overall employee satisfaction and in return greatly increase patient and customer satisfaction.

Let’s dive into how you can properly get your management and team on track for success.

Understanding The Cost of Operating a Micro-Hospital

Micro-hospitals constitute a rising trend that shows signs of taking over the healthcare industry, 30,000 to 60,000-square foot spaces that offer a wide range of medical services in a small, neighborhood setting. Just like a regular Hospital they run 24/7, all year long, and commonly have between 10 – 20 beds where patients can be observed or admitted for a short stay. With as low as $10 – $15 Million initial cost, it has come within the reach of many healthcare entrepreneurs.

Rules To Follow When Planning Acquisition

Rules To Follow When Planning Acquisition

Acquisitions have previously been considered a sign a weakness. In fact studies have shown that a majority of acquisitions are failures. So why do we still do it? A few reasons we might want to acquire is, instant expansion and organic growth. While these processes may be slow, if done correctly you can easily see success. 

Cost Efficiency: Minimizing Wastage

Cost Efficiency: Minimizing Wastage

Within a healthcare system it’s not uncommon to see more than a 30% wastage. Wastage refers to departments within the healthcare system that are not being fully utilized. If you’re not seeing volume to company, many departments and employees within those departments may be underutilized as there is low patient flow. Minimizing wastage has been seen as an indirect key component to increasing profits.

Becoming a Medicare Certified Provider

Becoming a Medicare Certified Provider?

Want to know how to become a medicare certified provider? The CMS accreditation process requires a survey (inspection) performed by Sate Survey Agencies conducted to ascertain whether or not a provider or supplier meets all applicable requirements for participation in the Medicare and/or Medicaid programs.

Key Performance Indicators

Key Performance Indicators 

Key performance indicators (KPIs) refer to a set of quantifiable measurements used to gauge a company’s overall long-term performance. If KPI’s are met, this is an indicator of good standing health within an organization. 

         We’re going to go over the 5 KPI’s that act as healthcare standards for any practice or company to follow.