"The GHM Public-Private Partnership model is a strategic way for municipalities to improve access to care and service delivery with the goal of ultimately eliminating tax payer subsidy through privatization."
Hammond, LA (PRWEB) September 15, 2010
Local and State government operating deficits continue to swell as the economy sputters leaving municipalities with few options but to cut critical health care services. As services are cut, city and state sponsored public hospitals turn away patients that have no other options for vital health services.
The affected hospitals subsequently do not have the revenue to invest in facility plant maintenance, equipment upgrades or replacements to keep pace with advancing technology, or the management planning necessary to restructure the hospital operating and business model for long term viability.
Global Health Management (GHM) brings a long term solutions approach to these struggling public healthcare providers by transferring ownership and management of the failing hospital to a new Public-Private Partnership arrangement that ultimately eliminates the government investment or subsidy altogether. Kirk Soileau, GHM Chief Executive reiterates, “In nearly every situation we have encountered, municipal and state leaders articulate that they do not want to be in the hospital business as they balance other priorities competing for declining operating revenues.”
The GHM (http://www.GHMLLC.net) team of consulting executives deliver challenged healthcare organizations turn around strategies and options necessary to position themselves for long term success, or in some cases survival. “In today’s challenging healthcare environment, many hospitals find themselves struggling with declining revenue, rising expenses and out migration of their patient base to competitors,” notes Soileau.
Soileau adds, "Those healthcare entities that are part of a network of hospitals, clinics and physician providers have a better chance of viability over the next five to ten years than the traditional free-standing independent institutions found in communities throughout the country." Consider the constraints facing public hospitals today due to shrinking revenue sources, and the inability of government agencies to continue increasing their subsidies to cover operating losses only make the long term viability options of these facilites even more pronounced. The future of healthcare access and reimbursement will be driven from three key data points: Cost Efficiency, Quality Outcomes and Customer Satisfaction. While some independent community hospitals may fare better and in some cases thrive, many will not be able to compete with the large chain systems that share infrastructure, drive volume and have economies of scale based on their size.
Global Health Management, headquartered in Hammond Louisiana, is a privately held healthcare development and management firm with the goal of helping government, medical educational institutions, private entities or other healthcare providers realize their strategic vision. GHM team members have a proven track record of turning around healthcare organizations that have quality, operational or financial performance issues. Currently GHM is working with clients in the US, China, India, Africa and United Arab Emirates.
For more information contact:
Kirk Soileau, CEO
Global Health Management, LLC