An article written by Principal Lee Ann Odom, “Right Heads in the Right Beds: Maximizing the Value and Financial Success of Academic Medical Centers,” was recently published by The Governance Institute. In a time of tightening reimbursement and research funding for academic medical centers (AMCs), Odom conveys the urgency to think strategically about patient transfers to achieve financial sustainability, operational efficiency, and continuity of patient care. Members of AMC governing bodies play a critical role in helping their organizations achieve this goal.
In the article, Odom describes the financially complex multi-mission of an AMC and states, “Caring for incredibly sick patients is what AMCs do best. Health systems with AMCs typically excel at getting critically ill patients transferred to the institution, and the health system’s ‘mission control center’ is what makes this activity possible….Expedited transfers of critically ill patients make optimal use of an AMC’s expensive infrastructure, but another opportunity is expanding this focus to the movement of low-acuity patients.”
She states that members of AMCs’ governing boards should be aware of the patient-movement decision-making process. “Board members benefit from understanding the rationale behind patient movement as they exercise strategic planning oversight and financial stewardship,” Odom writes.
Members of The Governance Institute can access the full article, including Odom’s key takeaways for board members.
The Governance Institute, a part of NRC Health, works for stronger leadership for healthier communities. It is a membership organization serving not-for-profit hospital and health system board chairs, board members, and other leaders. The organization provides research and publications, online learning, conferences, and advisory services.
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