Which service lines have the most growth potential? 3 hospital execs weigh in

Amy Schroeder: Anytime were wanting to expand our service lines here at Lexington Regional Health, our medical care service providers are the driving force behind that. They hear straight from the clients, what their needs are. We do have a neighborhood of clients that has some poor social factors of health, so we truly focus and attempt on being the safety-net health center, so to speak, to fulfill those needs and to provide services locally to them..

Amy Schroeder, chief strategy officer at Lexington (Neb.) Regional Health Center.
Pamela Ott, CFO, Northwestern Indiana, Franciscan Health Hammond, Dyer and Munster Hospitals.
Shelly Schorer, CFO of Chicago-based CommonSpirit Healths Northern California Division.

Hospitals and health systems throughout the country are searching for ways to broaden their footprints and balance out financial pressure connected to the COVID-19 pandemic, making it more important than ever to be laser-focused on service lines with the most development potential..

Shelly Schorer: Weve focused on the primary service lines, cardiovascular, neuro, orthopedics, gynecology, basic surgery and oncology. No matter how we do modifications in healthcare through innovation, and we know that numerous of our service lines are moving to an outpatient setting, these are still going to need some intense services, both in the inpatient and outpatient setting for the continuum of care for the client. We also have to focus on the margins of the other service lines to assist us cover those.

No matter how we do changes in healthcare through technology, and we know that many of our service lines are moving to an outpatient setting, these are still going to need some intense services, both in the inpatient and outpatient setting for the continuum of care for the client. One of the service lines that we actually made a heavy investment in over the previous three or four years is our surgery line. Pamela Ott: For us in Northwest Indiana, really the three main service lines, similar to what Shelly was stating, as she had actually pointed out some of these, are orthopedics, oncology and cardiology, at least in my 3 healthcare facilities. To share a little bit about my client service locations, in Franciscan Alliance, weve got the three healthcare facilities that I oversee right up against the border of Illinois, however we have a medical facility quite close in Illinois, in South rural Chicago. We utilized to do open heart surgeries, but since of the close proximity of all of our medical facilities, in that Northwest Indiana service area were focusing on being centers of excellence, mainly for those three service lines.

More short articles on health care finance: 6 recent medical facility credit downgradesOIG tags California health center for erroneous billing7 health centers with strong financial resources.

We do rehabilitation likewise– its a strong service line for us too– and behavioral health. Were going to be opening another inpatient rehabilitation system within the next most likely month and a half, at one of our other healthcare facilities. But we truly sort of have that center of quality, for that also.

Those are essentially the three that we are actually focusing on. And also too, its been a little bit fragmented in our market. We wished to actually deal with that and address it and grow that. So it was a bit more concentrated effort, a little bit more smooth, hopefully for the patients. We are a Catholic healthcare organization and also, in specific among our health centers, we do serve the indigent. We do see several clients that actually require healthcare services, however do not necessarily have the means to pay for them, but it is lined up with our mission and our vision. Although weve got those service lines, we really have a strong emergency clinic presence. And our one healthcare facility, thats actually what drives the volume, is that emergency clinic and the variety of clients that we do see there. Its a bit various amongst all 3.

Over the years, the focus of those service lines have actually corresponded, but the changes in the manner in which we approach them in our strategic direction and vision has actually moved through partnering with other organizations, taking a look at outpatient settings, how can we still supply the service to the patient, but possibly in a various method than we did 5 years.

Concern: Which service lines has your organization concentrated on growing over the last few years? Why?.

Service line growth was one of the topics specialists talked about throughout a session at the Beckers HIT + Revenue Cycle Virtual Event on Oct. 7. The panel included:.

One of the service lines that we actually made a heavy financial investment in over the past 3 or 4 years is our surgical treatment line. I really believe that our primary care suppliers are really the driving force behind helping us determine what service lines are needed.

Pamela Ott: For us in Northwest Indiana, really the 3 primary service lines, comparable to what Shelly was saying, as she had pointed out some of these, are orthopedics, oncology and cardiology, a minimum of in my 3 healthcare facilities. To share a little bit about my client service locations, in Franciscan Alliance, weve got the 3 health centers that I supervise right up against the border of Illinois, however we have a health center pretty close in Illinois, in South rural Chicago. And then we have two other healthcare facilities, what we hire the Northern Indiana region. We used to do open heart surgical treatments, however since of the close distance of all of our hospitals, in that Northwest Indiana service location were focusing on being centers of excellence, mostly for those 3 service lines. Weve got some other hospitals, in close distance, where we generally make sure to consolidate the resources and have the open heart surgical treatments be the center of excellence in one of our other hospitals, thats probably within 15 minutes of us.

© Copyright ASC COMMUNICATIONS 2020. Intrigued in LINKING to or REPRINTING this material? View our policies by clicking here.

Heres an excerpt from the conversation, modified for clearness. To view the complete session on-demand, click on this link..