Cost and Revenue Strategies: The Need for Transparency and Understanding True Costs
Cost and Revenue Strategies: The Need for Transparency and Understanding True CostsJune 2017
In an ideal world, business leaders are able to maintain financial growth and stability simply by driving down costs and preserving or even increasing revenue through conventional means. However, the healthcare industry—with its mix of third-party payers, for-profit and nonprofit entities, and increasing reimbursement pressures—creates unique challenges for its leaders. One issue that remains an obstacle is the industry’s inability to determine the true cost of delivering care.