Despite Rural Hospital Crisis, Wyoming System Plows Ahead
Jeremy Davis, CEO of Evanston Regional Hospital, talks about how the system is pursuing growth, staying financially solvent, and providing quality care.
Across America, rural communities have fallen into economic decline, negatively impacting the financial stability of the hospitals and health systems servicing them.
Since 2010, 83 rural hospitals have closed, according to The Cecil G. Sheps Center for Health Services Research at the University of North Carolina at Chapel Hill, while 673 rural hospitals remain vulnerable to closure according to a 2016 study commissioned by the National Rural Hospital Association.
In Wyoming, the rural hospital crisis is top of mind. The state is serviced by 25 rural providers according to the Chartis Center for Rural Health, a healthcare analytics firm, with 11 rural hospitals operating on negative margins. Additionally, between 2007 and 2017, Wyoming hospitals lost $51,761,497 in revenue, 2,087 jobs, and $245,391,405 in gross domestic product.
Amidst these challenges, one hospital is implementing a series of policies to grow operations, reduce bad debt on the front-end, and embrace telemedicine.