{"id":399,"date":"2018-04-29T14:05:50","date_gmt":"2018-04-29T18:05:50","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-mhcdsolutions\/submission\/reducing-operating-cost-in-a-financially-stable-health-system\/"},"modified":"2018-04-29T14:10:15","modified_gmt":"2018-04-29T18:10:15","slug":"reducing-operating-cost-in-a-financially-stable-health-system","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-mhcdsolutions\/submission\/reducing-operating-cost-in-a-financially-stable-health-system\/","title":{"rendered":"Reducing Operating Cost in a Financially Stable Health System"},"content":{"rendered":"<p>Our organization has been challenged to reduce operating costs by $100 MM over the next 3 years without a reduction in human capital (FTEs).\u00a0 This reduction is aimed at allowing financial resources to be re-allocated to primary\/ambulatory care initiatives and community-based health programs an to decrease &#8220;waste&#8221; and operational inefficiencies in the hospital-based setting.<\/p>\n<p>However, as a financially stable and high-performing organization (operating margin of 7%; gross revenues of $1.9 B, and salaries as a percentage of revenue averaging 56%) it is difficult to motivate staff and leadership toward this goal.\u00a0 Additionally, strategies thus far to achieve the reduction have yielded very small amounts of savings.\u00a0 It is clear that we will need more robust efforts and ideas to realize the total savings target.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reducing Operating Cost in a Financially Stable Health System<\/p>\n","protected":false},"author":9160,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","categories":[],"class_list":["post-399","hck-submission","type-hck-submission","status-publish","hentry"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-mhcdsolutions\/conversation\/mchd-solutions\/","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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