Chris Plance, healthcare expert at PA Consulting, shares his perspective on how US hospitals can adapt to lower patient volumes.
The article notes that patient volumes at hospitals have rebounded after major dips in March and April due to the COVID-19 pandemic. But new data show they are still below pre-pandemic levels and could stay there for a while. The stagnant volumes and the persistent spread of the virus have forced some hospitals to plan more conservatively in their budgets for the next year and embrace new ways to generate revenue, experts say.
Chris says that providers could also look to new lines of revenue and create a more integrated system that brings payer and provider together. “Even though the provider side reduced volume, the payer side has reduced medical expenses."
He added that a system should explore whether it can build a health plan to “sit on both sides of the volume.”
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