Even with the money from the US government $175bn bailout, many hospitals are facing critical cash flow issues, because they have had to cancel, or people have avoided the elective procedures that hospitals rely on for financial stability. Patients put off by visiting the hospital for anything other than COVID-19 related caused consumer spending in…
A report produced by Deloitte on the value of patient experience highlighted that Hospitals with a “low” HCAHPS rating (Hospital Consumer Assessment of Healthcare Providers and Systems) saw a net margin of 1.8%. Whereas, Hospitals with an “excellent” HCAHPS rating saw a net margin of 4.7% on average, indicating the importance of patient and visitor…
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