by adgrooms on May 20, 2019

Hospitals are a complex business and a constant balancing act of profit and loss across the specialty spectrum. There are certain specialties that bring in high-levels of income through insurance and other reimbursements while other practices make less, break even, or even run at a loss.

Orthopaedic surgery and invasive cardiology are the overwhelming breadwinners at a hospital. As such, they receive more reinvestment overall to make their hospital’s specialty look more appealing to maximize income. They typically have the nicest facilities and state of the art technology. They might even invest in radio and TV ads. But are the less profitable areas of care ignored when it comes to technological input?

It may be possible that the less profitable areas of care could use cross-subsidizing to help achieve a higher level of patient care and profitability through improved technology. Physician salaries are a major expense for all departments. Investing in and developing technology that removes inefficiencies for doctors and improves workflows could prove to be cost-effective in the long term.

Technological investments could include better communications, improved scheduling systems, EHR integrations, as well as overall network improvements. This could, in turn, contribute positively through reduced burnout and physician turnover, improved patient care, and an overall morale boost.

The result of the less profitable departments getting the improvements they need rises the tide for everyone and makes the overall institution more prestigious, thus making it a more attractive destination overall.