Testimonial

Achieving tighter physician-hospital alignment across a ‘mixed’ medical staff Children’s Hospital of The King’s Daughters, Norfolk, Virginia Situation Children’s Hospital of The King’s Daughters (CHKD), a 200 bed freestanding children’s hospital, the only such facility in Virginia, was facing a series of challenges increasingly common among children’s hospitals. Standard & Poor’s1 reported that changes on the…

Background A 350-bed community hospital system in the Midwest reported ending its fiscal year with an $11 million operating income deficit due to the economy and investment losses. Despite reducing operating expenses, a 5% net revenue decline created a negative $5.5 million net income loss for the year. The system CFO stated the hospital had…