Leading a Hospital Turnaround: A Practical Guide (ACHE Management Series)

No healthcare organization is immune to financial decline. Healthcare leaders must be able to recognize the warning signs of financial distress and take action to maintain or restore their organization s financial health. The author of this step-by-step manual shares what he learned while leading several successful financial turnarounds. Along with concrete tools and action plans, he provides candid advice about minimizing the fears of employees, physicians, and board members. In this book, you will learn how to preserve crucial relationships while directly addressing difficult questions. Special considerations based on organizational type (academic medical center, faith-based institution, public entity, or for-profit entity) are also addressed.

Topics covered include:

--Using performance analytics to predict a financial crisis
--Acknowledging a negative financial trend and accepting responsibility
--Improving cash flow and reducing costs Initiating pivotal discussions with key stakeholders
--Creating an effective communications and public relations strategy
--Developing a dashboard for the turnaround process
--Fielding the right turnaround team and determining responsibilities
--Maintaining strong relationships with your medical staff
--Avoiding common leadership missteps Considering the use of outside consultants
--Creating closure after a turnaround