Financial Challenges, Healthcare Reform Top List of Concerns for Hospitals
An annual survey conducted by the American College of Healthcare Executives at the beginning of the year revealed top concerns for hospital CEOs. Not surprisingly, financial challenges topped the list, continuing a trend that has been consistent for the last 10 years. It is interesting, though, to consider the wrinkles to that challenge in the year 2014 and how they rank.
The top five challenges, as identified by hospital executives, were:
- Financial Challenges
- Healthcare Reform Implementation
- Governmental Mandates
- Patient Safety and Quality
- Care for the uninsured
All of these challenges are connected and affect one another, but it is especially important to note how the top concern, financial challenges, is intertwined with issues such as healthcare reform and care for the uninsured. These large concerns and all of their sub-topics will be at the forefront of many people's minds as the Affordable Care Act is implemented this year.
This is the challenging reality for medical companies right now. With fewer resources and more challenging situations, there is nothing but uncertainty that looms with the Affordable Care Act. Even with a recent poll that showed fewer uninsured Americans thanks to ACA, the potential pitfalls and challenges it will create are still at the forefront of many peoples' minds.
It's easy to say that the best thing hospitals can do is to plan ahead, but how are they supposed to do so when they do not know what to plan for? That collective uncertainty is reflected in the concerns listed by executives in this recent ACHE poll.