Our CFO, Rylan Smith, and I were sitting in the San Jose airport today waiting for our flight back to Burbank watching the Southwest flights come and go. We both commented to each other how expiditiously, efficiently, and effectively (the 3 E’s) each plane was turned around. The passengers were loaded quickly while the crew … Continued
“Care. Compliance. Cash.” When I started in the medical world over 20 years ago, the first hospital CEO I worked with told me that; ” In hospitals, care should be your first priority, followed very closely by being fanatically compliant, and when those two things are done, keep your eye on the cash flow so … Continued
Don’t worry, this is not a car review! Instead, it is a few thoughts on our responsibility to be the right tool for our clients at the right time. Last week, I had a phone call with a vendor that did not go well due in large part to my reluctance to turn around the … Continued
About two weeks ago, a press release was sent out to publicize the “roll-up” of our industries’ two largest wound center management companies. Now that National Healing and Diversified Clinical Services have taken the wraps off of their much rumored merger, the million dollar question is, what does this mean for your hospital? Between the … Continued
When I am asked what the single most important aspect of a successful wound care center is, the answer is always the same; a strong physician champion. Let me make this clear, not just a Physician who professes to know wound care, but a real champion who wants the center to be exceptional. I have … Continued
I often find myself explaining my business to people when asked what I do. Womb Care? Barriatric Chambers? Do you treat gunshots and stab wounds? I have come up with some pretty quick responses since I have heard them so often. Last week, a CEO of a hospital I was speaking with asked me to … Continued
Today, an article from Becker’s Hospital Review came out identifying the top 13 areas for Healthcare investing, along with a few that are slowing down rapidly. Not surprisingly, Wound Care made the list at #9. For years, we have watched a series of mergers, acquisitions, and occasional start-ups become funded by a variety of venture … Continued
(I know one of our former Program Directors will be disapointed that we are not discussing Jimmy Buffet, however, this discussion has more to do with revenue than Margaritas!) This morning, Warren Buffett, CEO of Berkshire Hathaway and the “Oracle of Omaha”, wrote an opinion piece in the New York Times that I am sure … Continued
So, I think I am allowed one rant a year. Here it is: If you know me, you have probably heard about my hatred for power-wheelchairs, or Jazzy’s as we call them around WCA. Here is the issue; for over 10 years just about anyone it seems can get Medicare to pay for a powered … Continued
For over a decade one of the most focused on terms in hospitals was “length of stay”, or LOS. This term identifies how long a patient is in a bed as an inpatient. With the introduction of DRG’s, how long a patient was admitted had a significant effect on the revenue for a hospital. Now … Continued