“ NEW HORIZONS OF FINANCIAL FEASIBILITY OF CREDIT RECOVERY AND TURNAROUND STRATEGY FOR HOSPITALS AND HEALTHCARE PROVIDERS “ was Bihar’s first conclave organized by Healthcare 360 Degree Hospital Consultancy at State-of-the-art hall of Hotel Mourya – Patna. The house was graced by eminent fraternities, professionals and delegates comprising of highly experienced and budding healthcare leaders spanning from different part of the state. The event was a grand success and well attended by most of the hospitals owners & Healthcare Promoters .  

The experiences, information and views shared by the eminent guests, speakers and leaders from the eminent organizations like Fortis Healthcare, R N Super speciality Hospital & Research Centre  and CSN Netralya Pvt Ltd, left an unbeatable impact and impression amongst all of us. 

The conference started with an opening address by Mr Leslie Richard, Founder and Director, Healthcare 360 degree, who took the initiation of organizing this conclave after discovering that the health industry is facing a major problem of Money block due to immensely delayed payments from various credit giving companies. He learned about various issues that formed a major challenge for the hospitals to work efficiently and needed special attention of various authorities to strengthen this system of hospital recovery. 

Hospital Turn Around Strategy  “ Small & Mid sized hospitals & hospital Profitability step by step “ by Mr Saurabh Gupta . 

The focus was covering many reasons why a hospital finds itself in distress and becomes a sick hospital . It is due to failure to adapt to market changes, reimbursement declines, medical staff upheaval, training , Accreditation etc. The end result is a financial crisis that threatens the future and viability of the Hospitals . With so much at stake, this is the time where you actually diagnose the reason for failure and leadership to come together and begin the process of a turnaround Steps Toward Turnaround of any Hospital lies with … 

Its need to be systematic with the implementation of simultaneous actions. The following are steps and processes explained by Mr Saurabh Gupta , Head Operational Excellence (Fortis Healthcare) .  

• Diagnosis – groundwork for a stable and growth-oriented future.
• Leadership – Evaluating the leadership “ Ability of leaders to communicate to you 
• With an objective and analysis of the hospital’s for Improving the income “ .
• Improving the income statement – Expense reduction does not have to only be in 
• human capital simultaneously “ ownership and put people in place “ . 
• Volume – “ Reviewing historical trends & Diagnosis “ . 
•  
• Re-evaluate – “ Time to evaluate “ .

New Horizons of Financial feasibility of Credit Recovery and Marketing Strategy for Hospitals & Healthcare Providers & Innovative Marketing Strategy for Hospitals by Mr Leslie Richard 

Collecting claims and payments for hospital services can be extremely challenging. This major concern has become a top priority for many hospitals due to long outstanding payment list. Infact , it has become a separate vertical for the hospitals to work on these days as it requires dedicated man-hours to simply collect payments from the creditors. Mr Leslie Richard founder director of Healthcare 360 degree gave some key highlights  & problem solving notes on “Challenges in recovering outstanding payments by hospitals” and Streamlining New Horizons of Credit Recovery in Hospitals & Healthcare by Innovative Problem solving ideas .

He added some of the best possible ways and tips to overcome this problem. The emphasis would be on suitable step by step process that can be followed by the hospitals to clear their pending outstanding, reduce deductibles and involve the appropriate manpower at each node from bill generation, compilation, auditing, submission and followups for recovery to get the best end result.
 

He also briefed some of the other aspects of Improving business and internal Marketing in Hospital workspace , like 

•   Recovery Therapy – Ayurveda Vs Innovation  
•  
•   Reaching the Unreached – Empowering Owners & Promoters 
•   Innovative Strategy for Marketing for hospitals & Healthcare Providers . 
•  
•   Hospital New & Innovative Marketing Strategy can help finding higher paying cases . 
•    
• Communicate – “ How to improve the Communication  GAP – Be visible & Visionary  “ .
•   The 7 Ps (used in marketing industry)
•   We lack in these 4 things (People , Place , Policy and 
• Communication ). 

Revenue cycle management is the essential component of the practice of all Hospitals that is financially successful, and optimization of same is something leading to the losses prevention because of inefficient management of revenue cycle or not hiring the experts from healthcare industry .

Healthcare 360 Degree Employees & Consultants organization have been working with healthcare segment offering wide range of services to healthcare sector. It’s a great initiative taken by us to educate , built a platform , create an ecosystem to educate Hospital owners / Promoters on management of credit Recoveries Ecosystem and Hospital turn around strategy for Hospitals and healthcare Providers   .

An experts in this area , Healthcare 360 degree brings a wealth of knowledge and experience assisting hospitals and healthcare providers in problem solving and can be instrumental in soling all your queries with a concept of “ZERO DEDUCTION CONCEPT”