Veralon Views Blog

The Veralon Views blog is an extension of our partnership with leaders who are transforming the healthcare industry. Here, we share expert perspectives from our nationally recognized senior consulting team on issues that are key to the success of your organization.

Creating a Business Plan to Define the Value of Virtual Care

by Lynda Mischel, Principal
and Caroline Polales, Senior Associate

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The pandemic provided an initial introduction to virtual care for many, and most patients and providers have responded positively, embracing its convenience. Health systems, hospitals, and other providers now need to take the time to develop a business plan that identifies opportunities to optimize virtual care platforms, drive revenue and adapt practices to effectively meet […]

4 Reasons to Reevaluate Your Physician Compensation Plan

by Karin Chernoff Kaplan, Director

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As hospitals and health systems navigate a tumultuous economic environment following the COVID-19 outbreak, the need for standardized, value-based physician compensation plans has intensified. Even before the coronavirus pandemic, the median operating loss per health system-employed physician continues to be staggering. Many factors contribute to financial losses on employed physicians – costs related to physician […]

Can Your Hospital Maintain Independence? 5 Financial Questions to Explore

by David Robeson, Principal
Daniel M. Grauman, Managing Director & CEO

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When it comes to developing a financial recovery plan for COVID-19, independent hospitals face more of an uphill climb than other hospitals. With 40 percent of hospitals reporting their revenue had been cut in half during the first month of the COVID-19 pandemic alone—and 55 percent reporting they had less than six months of days […]

3 Critical Planning Steps for Rationalizing Service Lines

by Lynda Mischel, Principal
and Kelvin Polanco, Associate

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COVID-19 has shocked the U.S healthcare system – forcing physician and administrative leaders to think critically about how their current service line models can be improved to better serve and treat their patient populations. Many service lines were designed to maximize patient throughput by offering multiple access points without much consideration for efficiency. As a […]

Physician Enterprise Optimization

by Rudd Kierstead, Principal
and Robert F. Hill, Jr., Principal

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Prior to the pandemic, we learned something quite surprising.  In a Veralon survey, only 42% of respondents viewed the financial losses on employed physician enterprises as “unacceptable” or a “major priority.” Perhaps “surprising” is too tame a description.  We were “shocked.”  At the time of our survey, the level of losses typically varied between $150,000-$200,000 […]

3 Ways to Build Relationships with Independent Physicians Now

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It is the opportune time to build relationships with independent physicians. As always, one answer does not fit all so leadership needs to assess each individual physician and the appropriate models with care and attention. After more than two months into the COVID-19 pandemic, the situation for many independent practices remains shaky. Practices are struggling […]

Should Your Hospital Remain Independent? 5 Key Considerations

by Daniel M. Grauman, Managing Director & CEO
and Scott Stuecher, Manager

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COVID-19 delivered a gut punch to the outlook for not-for-profit hospitals in 2020, moving from a “stable but delicately balanced” outlook this past January to a negative outlook in late March due to the rapidly evolving pandemic. While independent hospital leaders have always needed to keep a careful eye on their organization’s ability to remain […]

Address “Sacred Cows” to Get Past COVID-19 Shock

by Mark J. Dubow, Director
and John Harris, Director

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Every organization has sacred cows. The financial challenge from COVID-19 calls for large scale improvements. This has emboldened our clients to address sacred cows, making tough changes that were unthinkable a few months ago.  The time to act is now! Sacred cows to consider include: Underperforming Assets: Every organization has some assets that perform significantly […]