Celebrating National Hospital Week / 2015 Performance Snapshot
Today's performance snapshot for National Hospital Week highlights how one hospital has tackled the mystery many face on an ongoing basis - patient outmigration.
A quick check of the Hospital Strength INDEX tells us that - whether we're looking at inpatient or outpatient - hospitals are struggling to hold on to market share. In both instances 75% are performing below the benchmark. That means patients aren't showing much loyalty to their local provider when it comes to determining where they'll receive treatment.
Where do these patients go? And for what services? Two critical data points with revenue implications.
One iVantage client used a powerful combination of dynamic mapping and market-based indicators to determine that nearly 20% of outmigration cases were from two zip codes, 60% of all outmigration cases were treated at four facilities, and that general medicine and cardiac services were among the service lines most likely to create these cases. These actionable metrics helped them determine service lines in need of investment and those in need of divesting.
Read more hospital success stories at: Navigating the new Healthcare