As the health care industry continues its metamorphosis from a fee-for-service to a value-based model, industry leaders will rely on several key areas to fuel financial growth, according to a new HealthLeaders Media survey. More than half (55%) of respondents said that expanding outpatient services is how their organization will spur financial growth over the next five years, followed by developing or joining a shared-risk, shared-savings effort (50%) and executing a campaign to extend an existing market (39%).
A greater share of hospitals (77%) and health systems (70%) than of physician organizations (40%) cited expanding outpatient services to fuel financial growth over the next five years, and a greater share of health systems (53%) and hospitals (51%) than of physician organizations (44%) mentioned developing or joining a shared-risk, shared-savings effort to do the same. Further, a greater share of hospitals (47%) and health systems (41%) than of physician organizations (25%) cited executing a campaign to extend an existing market to fuel their financial growth.
The survey results also indicated that, based on total net patient revenue, organizational size was correlated with the degree to which respondents said their organizations will fuel financial growth through expanding outpatient services. For example, based on net patient revenue, a greater share of large (71%) organizations than of small (58%) or medium-sized (49%) organizations said they expected to grow this way.
When asked whether they expected their organizations to produce positive financial results in the current fiscal year, 40% of the respondents said “yes,” and another 9% expected “strongly positive” results. On the other hand, 32% of respondents said they expected their financial results to be “flat;” 11% said that their organizations had a negative financial outlook; and 4% said their organizations had a “strongly negative” outlook.