Steve Febus, the CFO of Pullman Regional Hospital Explains How Money Works at a Hospital:

1) Their Hospital Had $117M in Annual Billed Charges, $1M in Profit, 66% of Revenue Came from Outpatient Services, 23% from Inpatient Services and 11% from Physician Services.

2) Healthy Patients Are Bad for the Hospital's Business

3) It Bought a Da Vinci Robot for Surgery to Attract a Urologist to their Hospital

4) They Had to Lower Their MRI Prices Because Patients with High Deductible Health Plans Were Shopping for Less Expensive MRIs at a Competing Hospital

5) There is a Duplication of Services at a Hospital only 9 Miles Away

6) Their Hospital Pays for Staff for Maximum Occupancy Even When Their Occupancy is Very Low

7) Hospital Prices are Meaningless

Sources HERE:    • Healthcare Finance 101 with Steve Febus  

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