NASHVILLE, Tenn.--(BUSINESS WIRE)-- Aegis Health Group, the nation’s leading healthcare business development company, advises hospital leaders to strengthen relationships with local employers as a way to offset looming reductions in Medicaid reimbursements.
“Medicaid programs across America are facing drastic cuts as states seek ways to shore up budget shortfalls,” said Aegis President Pearson Talbert. “Hospitals must be prepared to make up for these pending financial losses, and one of the best ways to do this is by putting a strategy in place that focuses on attracting more commercially insured consumers.”
To Talbert’s point, Medicaid reimbursement has been cut in Florida by 12 percent, in California by 10 percent and in Texas by 8 percent. South Carolina and Arizona have taken similar actions with many other states following suit.
“For many hospitals these cuts represent millions of dollars in lost income,” said Talbert. “The most productive approach to dealing with this lost income is for hospitals to find ways to increase the right kind of market share. Given that employer-based health insurance covers nearly 64 percent of America’s population under the age of 65, focusing on this market is a logical place to start.”
The financial challenges hospitals face come at the same time that employers are looking for ways to improve the health of their workforces and, in turn, reduce companies’ health-related costs. With that in mind many hospitals have for years been partnering with local employers on health and wellness initiatives, but Pearson believes that today’s market forces demand more strategic, comprehensive and measurable programs.
“Occupational medicine programs alone are not sufficient to build relationships and create the amount of revenue hospitals need,” said Talbert. “Meaningful impact will be made through the introduction of programs that assess employee health risks and then offer personalized hospital-sponsored interventions, ongoing education and customized services that truly meet an employer’s needs.”
For more than 20 years, Aegis Health Group has helped hundreds of hospitals increase market share and grow revenues by building the kind of relationships with local employers similar to what Talbert is advocating. “Such partnerships not only serve the business and its workforce but truly help position hospitals as the driver of a healthier community. That is right where the hospital belongs, now more than ever!”
for Aegis Health Group
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INDUSTRY KEYWORDS: Health Hospitals Professional Services Human Resources Insurance General Health