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Part 1: How a CEO Empowered Staff to Save $3M and Their Jobs
During the recession, Chicago's Swedish Covenant Hospital chief Mark Newton was unwilling to take draconian measures such as layoffs. Instead, he deployed a tactic from his entrepreneurial background: He challenged his staff to find ways to cut costs themselves.
Cost cutting and innovation are keys to survival for any hospital or system. Additionally, working with companies like PPO Check to audit and recover past/missed revenue (from carriers) can also be crucial - PPO Check has recovered as much as $18M for a hospital from zero balance (closed) accounts.