Hospitals face so many unique challenges compared to someone in retail, or oil and gas, or IT, or telecom. 60% of the cost structure of the average hospital is labor wages and benefits. It's skilled labor - the doctors, nurses, techs, housekeeping, food service, pharmacy, etc.

So understanding when you're trying to be an affordable healthcare provider at a high quality, what levers do you have to be affordable? Well it's primarily in how well you use your assets and how well you use your labor. Business acumen in healthcare is incredibly important as healthcare organizations are really mission driven. They're focusing on serving their community, creating a high quality patient experience. They've got providers that they need to take care of and attract and so their focus isn't always necessarily on the business and finances quite as out front as some of those other priorities. But those healthcare organizations that can develop leaders to have a high degree of business and financial acumen, are those that are going to really be able to separate themselves now and into the future.

There is absolutely no fault in these healthcare providers, they were just simply taught a different skill set. However, we encourage everybody no matter the profession to engage in and be attentive to business acumen skills. Because this is what will enhance your careers and help you make the change.

Follow Acumen Learning
[ Ссылка ]...
[ Ссылка ]...
[ Ссылка ]...

Follow Jamie on Linkedin
[ Ссылка ]

✅ Subscribe to our YouTube Channel for more Business Acumen videos!
✅ For more on our business acumen training visit: [ Ссылка ]

#businessacumen #businessstrategy #learninganddevelopment #leadershipdevelopment #financetraining #businesstraining #financialstrategy #financialacumen #businesssuccess #healthcare #hospitals

свернуть