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Achieving Financial Sustainability in Healthcare
Healthcare organizations face sustained cost pressures alongside the need to enhance performance and invest for the future. By bringing together EY capabilities across operational performance improvement, talent, supply chain, technology enablement and AI-enabled processes, our team helps drive healthcare operations transformation to strengthen financial performance and achieve long-term financial sustainability.
What EY can do for you
Over the past several years, the health sector has experienced significant financial pressure, often facing the need for freed-up capital or even rapid restructurings. Amid this pressure to sustain operations today and reinvent for tomorrow, organizations face a multitude of economic and consumer forces:
- Healthcare faces a persistent need for clinical labor due to significant nursing shortages and is projected to be the largest US industry by employment by 2030.1
- Reimbursement growth lagging behind expense growth rates, with government contracts disproportionately making up the larger share of revenue streams.
- Additionally, increasing demands for investments in patient and customer experience to attract and retain patients in a competitive health care environment.
- An accelerated push to leveraging AI in healthcare operations to drive transformation, enabling better outcomes and more financially sustainable business models.
The EY Achieving Financial Sustainability in Healthcare solution integrates key capabilities to help reduce costs, sharpen efficiencies and drive healthcare margin improvement while enhancing care quality, improving patient experiences and seizing new growth opportunities.
Encompassing both protect-to-survive and invest-to-thrive action plans, Achieving Financial Sustainability in Healthcare is not one solution. Instead, it’s a flexible performance framework backed by deep experience across the EY network and enabled by AI and an ecosystem of transformational alliance partners, all dedicated to supporting healthcare operations transformation.
How can health systems achieve financial sustainability today?
- Maximize financial performance: We help expand clinical and operational capacity, unlocking new revenue streams and driving healthcare margin improvement while augmenting working capital.
- Develop new revenue streams: We evaluate joint ventures and affiliations, payer contracting models, real estate and more to help your organization improve top-line growth and market share.
- Decrease total cost of care: We help drive cost optimization in healthcare by identifying opportunities to eliminate waste and boost utilization of assets by examining functions in your organization such as workforce efficiency, AI-supported strategies and supply chain.
- Increase quality: We help you drive operational excellence in clinical settings through improvements that drive greater coordination, utilization and outcomes reporting.
- Improve experiences and disparities: We help you strengthen patient centricity and address or eliminate variability in patient experiences by optimizing clinical settings to support cost optimization in healthcare, including expanding AI and virtual capabilities, and placing greater emphasis on tracking outcomes and satisfaction.
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