Many high-tech companies looking for hot new products have caught acquisition fever. Smart buyers keep their eye on building the right long-term capabilities, which often means keeping the right people.
Many high-tech companies looking for hot new products have caught acquisition fever. Smart buyers keep their eye on building the right long-term capabilities, which often means keeping the right people.
This paper uses regression analysis to explore the relation of network membership to the financial performance of rural hospitals in Oklahoma during fiscal year 1995. After adjusting for the scope of service, as measu...
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This paper uses regression analysis to explore the relation of network membership to the financial performance of rural hospitals in Oklahoma during fiscal year 1995. After adjusting for the scope of service, as measured by the number of facilities or services offered by the hospital, indicators of fiscal status are (1) the cash receipts derived from net patient revenue;(2) the cash disbursements related to operating costs, Met of interest and depreciation expense, labor costs and nonlabor costs;and (3) net cash flow, defined as the difference between cash receipts and disbursements. Controlling for the effects of the hospital's structural attributes, operating characteristics and market conditions, the results indicate that members of a network reported lower net operating costs, labor costs and nonlabor expenses per service than nonmembers. Hence, the analysis seems to suggest that the membership of rural hospitals in a network is associated with lower cash disbursements and an improved net cash flow, outcomes that may preserve their fiscal viability and the access of the population at risk to service.
While hospitals continue to join multi-institutional systems, empirical data on the bene fits of system membership are ambiguous. This study examines the same 166 Florida hospitals in 1986 and 1992. System membership,...
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While hospitals continue to join multi-institutional systems, empirical data on the bene fits of system membership are ambiguous. This study examines the same 166 Florida hospitals in 1986 and 1992. System membership, in general, did not enhance financial returns (measured by operating margin, total margin, and return on assets) for the pooled data or for either year. In fact, a significant negative relationship is noted in 1986. However, when only hospitals affiliated with national systems (in this study, American Medical International, Hospital Corporation of America, or Humans) are analyzed, a positive statistically significant association is found for two of the above three profitability indicators for both the pooled data and for 1986. However, there was no statistically significant impact noted for 1992. Reasons for the apparent discrepancy in the impact of national versus local/regional systems on hospital financial performance and the apparent declining ability of national systems to generate above-average returns are explored.
The concept of 'strategic options' has become firmly established in recent years--this regards choices such as 'organic growth', acquisition, merger, and so on. This paper explores one such route forwa...
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The concept of 'strategic options' has become firmly established in recent years--this regards choices such as 'organic growth', acquisition, merger, and so on. This paper explores one such route forward, the option of joint-ventures. The examination is undertaken within a framework that considers market structures and the pressures for change. Initial sections introduce a form of analysis based upon the work of Michael Porter. This is used to suggest how and why joint-ventures and other alliances are attractive. Later discussion considers some of the practical considerations when setting-up a joint-venture.
The Rural Cancer Outreach Program (RCOP) between two rural hospitals and the Medical College of Virginia's Massey Cancer Center (MCC) was developed to bring state-of-the-art cancer care to medically underserved ru...
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The Rural Cancer Outreach Program (RCOP) between two rural hospitals and the Medical College of Virginia's Massey Cancer Center (MCC) was developed to bring state-of-the-art cancer care to medically underserved rural patients. The financial data were collected on 1,745 cancer patients treated at the participating centers, two rural community hospitals and the MCC. The main outcome measures were costs (estimated reimbursement from all sources), revenues, contribution margins and profit (or loss) of the program. The RCOP may have enhanced access to cancer care for rural patients at less cost to society. The net annual cost per patient fell from $10,233 to $3,862 associated with more use of outpatient services, more efficient use of resources, and the shift to a less expensive locus of care. The cost for each rural patient admitted to the Medical College of Virginia fell by more than 40 percent compared with only an 8 percent decrease for all other cancer patients. The rural hospitals experienced rapid growth of their programs to more than 200 new patients yearly, and the RCOP generated significant profits for them. MCC benefited from increased referrals from RCOP service areas by 330 percent for cancer patients during the same time period. While it did not generated enough revenue to cover costs of the program. The RCOP had a positive financial impact on the rural and academic medical center hospitals, provided state-of-the-art care near home for rural patients and was associated with lower overall cancer treatment costs.
Reflecting on the ‘old days’—all of five or six years ago—a Chicago area supplier … sarcastically recalls how one of his big customers used to treat its suppliers. The strategy was: ‘Line 'em up and beat ...
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Reflecting on the ‘old days’—all of five or six years ago—a Chicago area supplier … sarcastically recalls how one of his big customers used to treat its suppliers. The strategy was: ‘Line 'em up and beat 'em up—until you get 'em to a point where they can't make money any more. Then you've got the best price.’ “
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