Case study: SC system pulls off turnaround

A South Carolina health system has turned things around dramatically for its two hospitals, turning a $5.7 million profit for 2007 after languishing for years.  The Sisters of Charity Providence Hospitals haven't had excess income since 2004, losing $2.4 million in 2005 and $1.4 million in 2006.

To turn the system's fortunes around, executives made a variety of changes in staffing, including a drive to move office staff into roles more central to its survival, such as patient care and billing. It also focused on employee retention, particularly among nurses, by offering bonuses to not only the nurses, but also the team for which the nurse works when they stay a year. In addition, the hospitals took several steps to improve their income and cut expenses, including beefing up the collections process and negotiating new managed care and equipment contracts.

The system also received state approval for expansions of both its campuses, something that could help it stay on its feet for years to come.

To learn more about the system's turnaround:
- read this article from The State

Related Articles:
U of Kansas makes stunning turnaround
After big losses, Henry Ford prospers

Suggested Articles

As the public debate on health reform rolls on, a new report analyzes how these different approaches could impact insurers' bottom lines.

A House panel is going to consider several changes to Nancy Pelosi's drug prices plan, including stiff penalties for not being transparent.

Molina aims to bolster its Medicaid business by acquiring certain assets from New York-based YourCare for $40 million.