Novant Health’s COO offers advice for fellow hospital leaders aiming to contain costs without compromising quality.
As hospitals and health systems continue to operate on the thinnest of margins, cost containment remains a top priority for leaders everywhere.
However, cutting costs without sacrificing quality is easier said than done, which means it’s essential that organizations identify innovative measures in areas like care delivery and the workforce to improve long-term sustainability.
John Gizdic, executive vice president and COO at Novant Health, recently shared with HealthLeaders how his health system is reducing financial waste and provided tips for other hospital decision-makers striving to do the same.
Jay Asser is the CEO editor for HealthLeaders.
KEY TAKEAWAYS
Creating an environment where the workforce feels supported and empowered enables it to deliver better care and contribute ideas that improve efficiency.
Reducing variation and improving outcomes not only enhances patient care but also lowers costs across the organization and the industry.