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Hospital survival strategies for the 1980s
American Journal of Hospital Pharmacy
|September 1, 1983
Summary
Hospitals and pharmacy departments must adopt survival strategies like diversification and improved information systems to navigate financial pressures. Engaging physicians and focusing on cost-effective care delivery are crucial for future success.
Area of Science:
- Healthcare Management
- Hospital Administration
- Pharmacy Practice
Background:
- Hospitals and pharmacy departments face increasing financial and competitive pressures.
- The healthcare landscape necessitates innovative survival strategies for institutions.
Purpose of the Study:
- To present survival strategies for hospitals and hospital pharmacy departments.
- To describe the evolution of a hospital into a comprehensive health-services system.
Main Methods:
- Analysis of institutional strategies, including horizontal and vertical diversification.
- Examination of marketing, information systems, and cost-accounting for diagnosis-related groups.
- Case study of a hospital's corporate restructuring and diversification.
Main Results:
- Diversification enhances hospital growth, assets, and revenue, fostering health-care system development.
- Prospective payment systems require robust information systems to track costs by diagnosis-related groups.
- Pharmacy departments can reduce costs by optimizing drug use and implementing cost-tracking information systems.
Conclusions:
- Strategic diversification, physician involvement, and advanced information systems are vital for hospital and pharmacy survival.
- Reducing inpatient acute-care services and increasing productivity are key objectives.
- The successful implementation of these strategies will determine the future viability of healthcare institutions.