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 To submit a resource, please send an e-mail to Gayle Irvin at girvin@aha.org. Some of the resources linked on this page are available exclusively to SHSMD members.
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Recession Impact Resources
Brand Survival Strategies: Leveraging Social Media During a Recession White paper by Earthbound Media Group The Capital Markets Crisis: What Strategic Adjustment Is Your Organization Making? Strategic Financial Planning article by Mark Grube and Kenneth Kaufman of Kaufman Hall Clinical Integration ... What’s Your Plan? White paper by Laura Jacobs of The Camden Group The Current Recession and Healthcare Consumers Research brief by Gary Pickens and George Popa of Thomson Reuters The Current Recession and U.S. Hospitals Research brief by Dennis Dunn, David Koepke, and Gary Pickens of Thomson Reuters Decline in Total Margins May Impair Hospitals' Ability to Obtain and Deploy Capital Research brief by David Koepke of Thomson Reuters The Economic Crisis: The Toll on the Patients and Communities Hospitals Serve Economic crisis report by the American Hospital Association Ensuring Affordability of Your Hospital's Strategies hfm article by Jason Sussman, Mark Grube, and Dawn Samaris of Kaufman Hall Governance Imperatives During the Current Credit Crisis BoardRoom Press article by Kenneth Kaufman and Mark Grube of Kaufman Hall Growing Interest in Affiliation as a Strategic Response to Challenging Market Conditions Noblis Insights Panel survey results Healthcare Financial Pulse Healthcare Financial Management Association online resources A Healthy Hospital: Reprocessing and Sustainability in Healthcare White paper by Ascent Healthcare Solutions Hospital Strategy in the Current Credit Crisis: 7 Must-Do Actions Trustee article by Ken Kaufman and Mark Grube of Kaufman Hall Hospitals Have No Margin for Error Research brief by David Koepke of Thomson Reuters How CMOs Should Function in a Recession HarvardBusiness.org article by John Quelch How to Allocate Your Marketing Dollars During a Downturn Special report by True North Custom Publishing The HUD 242 Mortgage: An Alternative to Traditional Hospital Financing Spectrum article by Jeffrey Aber and Steven Bilsky of Ernst and Young LLP The Impact of Economic Cycles on U.S. Hospitals Research brief by Dennis Dunn, David Koepke, Katharine Levit, and Gary Pickens of Thomson Reuters The Impact of the Economy on Hospitals: The Hospital Story American Hospital Association online resource Improve Hospital Operations By Focusing on Results White paper by Frank Flosman of The Camden Group Into the Wild: Healthcare Marketing When Times Are Tough Spectrum article by Craig Gagnon of Gagnon Partnership LLC Managing Risk in a Challenging Financial Environment hfm article by Kenneth Kaufman Marketing in a Tightening Economy White paper by Dan Miers and Mike Lynn of SPM Marketing & Communications Marketing to Baby Boomers in a Changing Economy: Still Revolutionary After All These Years White paper by Jim Larranaga of Priority Publications Inc. Matching the Market: Using Generational Segments to Attract and Retain Consumers Research brief by Linda MacCracken, Gary Pickens, and Meredith Wells of Thomson Reuters Mission: Revenue: Enabling Technologies for Achieving New Best Practices in Revenue Cycle Management Automation for Healthcare White paper by RelayHealth Operating Performance Results Not Meeting Budget? Three Levels of Risk to Consider Governance Institute E-Briefing by Michael Randall, Patricia Hines, and Brian Silverstein of The Camden Group Protecting Access to Capital Through Competitive Planning healthforward article by Rich Miller and John Miller of Miller Consulting Recovery.gov Recovery Accountability and Transparency Board website Reaching Out, Inviting In: How Medical Call Centers Can Give Hospitals a Financial Edge in the Age of Transparency and Competition White paper by Tina Minnick of TeamHealth Medical Call Center Results from the Economic Impact Survey by Noblis Health Innovation Staffing Incentives: A Critical Tool White paper by Bonnie Barndt-Maglio of The Camden Group Standing Alone: Assessing a Hospital's Long-Term Viability Trustee article by Ryan Gish and Kit Kamholz of Kaufman Hall Surviving the Economic Downturn (free registration required) Membership resource kit by Sg2 Intelligence (Includes tips for the leadership team, a health care economic check-up discussion guide, expert insights, and on-demand Web seminars) 10 High-Impact, Low-Budget Ideas for Marketing in a Down Economy Part 1 | Part 2 (free registration required) MarketingProfs articles by Jonathan Kranz Three Strategies: Keeping Capital Projects on Budget and Viable Brand Survival Strategies: Leveraging Social Media During a Recession White paper by Earthbound Media Group
The Capital Markets Crisis: What Strategic Adjustment Is Your Organization Making? Strategic Financial Planning article by Mark Grube and Kenneth Kaufman of Kaufman Hall
Clinical Integration ... What’s Your Plan? Recent FTC rulings have heightened attention and clarified requirements to meet the definition of clinical integration. Current healthcare reform initiatives include payment mechanisms that rely on integrated physician and hospital organizations or “accountable care organizations.” Public reporting of physician and hospital patient safety and quality scores are abundant. These are just some of the reasons that organizations must have a plan for achieving clinical integration.
The Current Recession and Healthcare Consumers Research brief by Gary Pickens and George Popa of Thomson Reuters
The Current Recession and U.S. Hospitals Research brief by Dennis Dunn, David Koepke, and Gary Pickens of Thomson Reuters
Decline in Total Margins May Impair Hospitals' Ability to Obtain and Deploy Capital Research brief by David Koepke of Thomson Reuters
The Economic Crisis: The Toll on the Patients and Communities Hospitals Serve Economic crisis report by the American Hospital Association The economy is taking its toll on the patients and communities hospitals serve. Nine in 10 hospitals have made cutbacks to address economic concerns. Despite these actions, seven of 10 hospitals report a decline in overall financial health which will impact their ability to care for their communities. Nearly all hospitals report that the capital situation has not improved or is still deteriorating since December of last year. Eight in 10 hospitals report an increase in the degree to which physicians are seeking the financial support of hospitals including on-call pay and/or employment.
Ensuring Affordability of Your Hospital's Strategies hfm article by Jason Sussman, Mark Grube, and Dawn Samaris of Kaufman Hall
For hospitals in competitive marketplaces, indefinite delays or abandonment of strategic initiatives could forfeit critical market share and damage the organization’s long-term potential. Thoughtful reevaluation of the hospital’s strategic and financial position and redefinition of its future vision and strategies are needed.
Governance Imperatives During the Current Credit Crisis BoardRoom Press article by Kenneth Kaufman and Mark Grube of Kaufman Hall
A Healthy Hospital: Healthcare is responsible for wasting massive amounts of resources, and the impact on the environment and on the quality of healthcare is enormous. At a time when environmental initiatives are becoming more important and focus on improving our healthcare system, sustainability initiatives are a cornerstone of responsible hospital behavior.
Nearly a third of hospitals are “much more interested” in affiliation than a year ago. More than half of respondents indicate they are likely to pursue affiliation in the next year. While C-Suite executives report similar levels of interest in affiliation as their colleagues, only 44 percent think their organizations will actually pursue affiliation in the next year compared with 63 percent of other respondents, perhaps in recognition of the difficulties involved in affiliation strategies. Interest in affiliation is highest among organizations with existing affiliations or organizations with deteriorating operating margins. Organizations with existing affiliation relationships are more likely to have operating margins at breakeven or better. Improving contracting leverage and access to capital are identified as the top two benefits for an affiliation by currently independent organizations, while access to new geographic markets, contracting leverage, and decreasing outmigration are primary benefits sought for those already affiliated.
Hospital Strategy in the Current Credit Crisis: 7 Must-Do Actions Trustee article by Ken Kaufman and Mark Grube of Kaufman Hall During these exceptionally difficult times, trustees and executives should force their organizations back to business basics. This means real business plans, financial results that measure up to previous forecasts, considerable attention to operations, consolidation and management of services, and allocation of capital according to real measures of available capital capacity.
Hospitals Have No Margin for Error Research brief by David Koepke of Thomson Reuters
How to Allocate Your Marketing Dollars During a Downturn Special report by True North Custom Publishing
The Impact of Economic Cycles on U.S. Hospitals Research brief by Dennis Dunn, David Koepke, Katharine Levit, and Gary Pickens of Thomson Reuters
Improve Hospital Operations By Focusing on Results The goal of any operational improvement initiative should be to effectively address pressures within the current environment as well as position an organization to proactively manage their services and resources going forward. While successfully navigating such an endeavor is a complex undertaking, the positive impacts associated with such efforts can yield significant financial, structural, and service quality improvements … not to mention positioning for success in a climate of change.
Managing Risk in a Challenging Financial Environment hfm article by Kenneth Kaufman
Marketing in a Tightening Economy White paper by Dan Miers and Mike Lynn of SPM Marketing & Communications We believe strategic organizations can leverage economic uncertainty to strengthen and grow their market position. Marketing communications is one of very few tools at management’s disposal to influence top-line revenue. Marketing executives with recession-specific plans can influence business strategy and organizational performance. With our depth of experience and breadth of client situations, SPM is a unique resource for generating ideas tailored to take advantage of the opportunities this downturn presents in your particular market.
Marketing to Baby Boomers in a Changing Economy: Still Revolutionary After All These Years White paper by Jim Larranaga of Priority Publications Inc. Baby boomers have been known to reinvent each life stage, and retirement will be no different. A recent survey by Age Wave, a San Francisco demographics-research firm, affirmed that even before Wall Street took a dive, boomers had planned on retiring later than their parents, and many will cycle back-and-forth between periods of work and leisure.
Matching the Market: Using Generational Segments to Attract and Retain Consumers Research brief by Linda MacCracken, Gary Pickens, and Meredith Wells of Thomson Reuters
Mission: Revenue: Enabling Technologies for Achieving New Best Practices in Revenue Cycle Management Automation for Healthcare White paper by RelayHealth
Operating Performance Results Not Meeting Budget? Three Levels of Risk to Consider Governance Institute E-Briefing by Michael Randall, Patricia Hines, and Brian Silverstein of The Camden Group
Protecting Access to Capital Through Competitive Planning healthforward article by Rich Miller and John Miller of Miller Consulting
Reaching Out, Inviting In: How Medical Call Centers Can Give Hospitals a Financial Edge in the Age of Transparency and Competition White paper by Tina Minnick of TeamHealth Medical Call Center
Results from the Economic Impact Survey by Noblis Health Innovation Survey participants were cautiously optimistic about the future. While the majority of hospitals experienced some difficulty accessing capital in the last six months, most expected utilization and profitability to stay the same or increase in the future. Hospitals have taken or decided to take some proactive steps to address potential impact of the economic crisis, mainly in the form of capital and other spending reductions, hiring freezes, and layoffs. Hospitals are also considering divesture of non-profitable locations or services.
Staffing Incentives: A Critical Tool Incentives can be a powerful tool to increase workforce capacity when patient volume or intensity increases. A sound and effective incentive program must be time limited, proactively initiated only when very specific predetermined conditions and criteria are present, and provide the type of incentive that motivates the target population. All three of these characteristics must be present; otherwise, an incentive program quickly becomes a very expensive exercise in staffing frustration—one that is difficult to reverse.
Standing Alone: Assessing a Hospital's Long-Term Viability Trustee article by Ryan Gish and Kit Kamholz of Kaufman Hall
Three Strategies: Keeping Capital Projects on Budget and Viable Strategic Financial Planning article by Jason Sussman and Joe Gosch of Kaufman Hall Given the current demanding economic conditions, hospital leaders must redouble efforts to ensure effective monitoring of capital spending on projects that have been approved. Ineffective management of capital projects subsequent to allocation can significantly increase costs and delay expected revenue. A rigorous and disciplined monitoring structure that is fully supported by high-quality tools keeps capital projects on budget.
Top 10 Enablers of Bold Strategies for Income Growth During Difficult Times White paper by Mark Dubow of The Camden Group
Top Ten Healthcare Reform Principles The final shape of healthcare reform remains hazy as the many parties at the table jockey for position, control, and dollars. It will take time to debate the issues—from the amount of government involvement to matters regarding budget, funding, reimbursement system, and the role of various healthcare entities in an “organized” healthcare delivery system. While the debate rages on, there are principles upon which the shape of reform will be founded.
Top 10 Practical Turnaround Strategies for Hospitals in a Down Economy White paper by Michael Randall and Rebecca Bales of The Camden Group
Volume Decline Factors to Investigate Flow chart by Michael Randall and Brian Silverstein of The Camden Group
The Upside of a Down Economy: 8 Marketing Fixes to Implement Now White paper by Jim Larranaga of Priority Publications Inc. Research shows that recessions trigger rapid changes in market share – and those changes benefit marketers who sustain their media budgets during the downturn. The temptation may be to hold off on spending until the economy begins to revive. But attempting to time a downturn or a recovery based on government data could prove more damaging to your bottom line. Here’s why: Using federal GDP data, it could take six months or more to learn about the turnaround and another two months (or more) to rev up advertising. By then, it would be too late to capture market share that had been abandoned when other hospitals cut their spending or exited the market.
Using Perceptual Profiles to Maximize the ROI of Hospital Marketing Campaigns White paper by John Hallick of CPM Marketing Group Inc. To market and communicate with prospects more effectively in today’s economy, hospitals must deploy new strategies to address new economic realities and market trends. Using perceptual profiles enables them to strengthen their marketing and connect more easily with patients and prospects. The results are higher revenue, a competitive advantage, and improved ability to respond proactively to business challenges.
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