Sierra Madre, Calif. - As hospitals continue to face unprecedented financial challenges in the wake of the COVID-19 pandemic, Wound Care Advantage (WCA) is proud to introduce its new Support Model as a unique opportunity for hospitals to save costs and increase their margins while producing quality wound care that is both profitable and accessible.
Today's challenges in the wound care space include increasing costs, inadequate reimbursement for service line expenses, managed costs siphoning revenue, and lower hyperbaric utilization, all of which impact profitability.
A recent report by Kaufman Hall has shown that hospital operating margins have declined for the fourth consecutive year, with an average margin of just 1.7% in 2022. The reality is that hospitals need to find new ways to increase revenue and decrease costs to remain financially viable, and wound care centers are a prime area for cost savings and profitability.
"Our new Support Model allows hospitals to directly integrate into WCA's wound care network, providing them with access to the tools and resources needed to improve their wound care program," said Casey Park, WCA's Director of Development. "Through connection to Luvo, a platform-as-a-service suite, hospitals can easily access the necessary data and business intelligence needed to make informed decisions, reduce costs, and ultimately increase their margins."
The Support Model not only improves wound care but also provides hospitals with a unique opportunity to reduce costs and increase profitability. By providing access to a network of wound care experts, WCA helps hospitals avoid costly mistakes and ensures that they have the resources necessary to operate a financially sustainable wound care program that meets the growing needs of their community.
"Our new Support Model is a game-changer for hospitals looking to reduce costs and increase profitability by reducing the expenses of traditional wound center management models." said Mike Comer, CEO and Founder of WCA. "This model can be implemented rapidly and can be up and running within 1 day. We're thrilled to be able to help hospitals navigate these challenging times and improve their financial stability through better wound care practices."
For more information about Wound Care Advantage's new Support Model and how it can benefit your hospital's wound care program, visit www.thewca.com/support.
About Wound Care Advantage:
For over two decades, Wound Care Advantage (WCA) has been empowering wound centers to improve patient care and program sustainability by offering access to innovative technology and providing support for informed decision-making. WCA's mission is to save patients' limbs and lives by promoting operational, clinical, and financial success in wound care programs.
