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Hospitals forced to revamp business models or risk losing patients

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From Axios:


Hospitals' business models are being upended by fundamental changes within the health care system, including one that presents a pretty existential challenge: People have far more options to get their care elsewhere these days.


Why it matters: Health systems' responses to major demographic, social and technological change have been controversial among policymakers and economists concerned about the impact on costs and competition.

  • Communities depend on having at least some emergency services available, making the survival of hospitals' core services crucial.

  • But without adaptation — which is already underway in some cases — hospitals may be facing deep red balance sheets in the not-too-distant future, leading to facility closures and shuttered services.

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