Tag: Hospital Turnaround

Begins with People

Turnaround is a Process and It Begins with People

There is nothing magical or mystical about turning around a struggling organization, which is a good thing because it means the process can be repeated, studied, and improved. This does not mean every turnaround will be a success; but it does mean that best practices and prior experiences can be utilized to improve an organization’s…
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Capital Fundraising

Capital Fundraising

Even after revenue collections, staffing optimizations, and other operational improvements begin to transform the financial position of struggling rural and small community hospitals, a cash infusion is often necessary to improve facilities. New and updated facilities are critical to sustaining the long-term profitability because they reinvigorate the community’s investment in the hospital and provide the…
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Executive Leadership

Executive Leadership

There comes a time when the leadership within a hospital needs to be replaced in order to transform the financial viability of a struggling hospital. A change in hospital leadership is often needed to symbolize the need for change and communicate to the community that their civic leaders are committed to preserving their quality of…
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Turnaround Advisory

Turnaround Advisory

Transforming the long-term financial viability of rural and small community hospitals requires a well-developed plan and a commitment to execution. The challenge many hospital leaders face is finding the time to develop and execute a transformational plan while running the day-to-day operations. In these situations, NewLight Healthcare can provide a turnaround advisory team to work…
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Performance Diagnostic

Performance Diagnostic

In medicine, a clear and accurate diagnosis of an illness is essential to curing the ailment. The same is true for helping a struggling rural or small community hospital return to financial profitability. In many cases, hospital administrators are capable of helping a hospital grow to profitability when they have a clear understanding of the…
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Best Practices for Rural Healthcare Facilities

Rural Hospital – Best Practices for Growing Revenue

“Sixty-one rural hospitals have closed; 283 more are on the brink of closure. Since January 2013, more rural hospitals have closed than in the previous 10 years combined … It’s clear continued cuts in hospital payments have taken their toll, forcing closures and leaving many of our nation’s most vulnerable populations without timely access to…
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People – Prosperity through Growth

The Problem is Not ALWAYS the People

When an organization is in trouble and a turnaround firm comes in to “fix” things the fear is that their fix will be to fire a bunch of people and decrease salaries. NewLight Healthcare knows that’s not always the case. The knee jerk reaction should not be to let go of people and cut positions.…
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Broken bone heals stronger

A Broken Bone Heals Stronger

It’s been said that a broken bone heals stronger than it was prior to the injury. Pitchers who receive Tommy John surgery say that their arm has never been stronger. The same can be said for a broken Health Care Facility. Problems help identify where a process, building, the people, the financials or overall organization…
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Receivables - Accounts Receivable

The Answer May be in Your Receivables

Just about every rural health care organization or facility is struggling to remain open in these difficult economic times. It is hard to keep the doors open and the lights on let alone meet the challenges of added regulations, staffing, and security. Don’t assume the fix to your problems is going to be cost cuts,…
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