Between high labor costs, inflation, workforce shortages, and a host of other challenges, the past couple of years have been some of the most straining financial times for health systems in recent memory. Though the tides may be starting to turn, it is critical that health systems do not get complacent. How can health systems prepare to grow in the midst of an optimistic yet volatile landscape? Paradoxically, the growth path for health systems is actually to shrink.

That’s why, in this episode, host Rachel (Rae) Woods invites Advisory Board health systems expert Vidal Seegobin, and quantitative insights expert Larry Watts to discuss why heath systems might have to first shrink in order to grow and prepare themselves for the future. Throughout the conversation, they discuss why leaders need to look past the optimism of short term relief, and why hospital-based health systems need to start working smarter and not harder.

Links:

• [Tool] Market Scenario Planner
• Ep. 147: Pursuing growth in today's financial landscape
• [Rerun] The dire state of hospital finances (Part 1: Hospital of the Future series)
• Survey insights: 6 priorities for health system strategists in 2024
• Ep. 161: Unwavering purpose, the creation of Ballad Health

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A transcript of this episode as well as more information and resources can be found on radioadvisory.advisory.com.