‘COVID Concern Index’ and other data help to turn data into action, BOMA MOB panelists say
By John B. Mugford
Even prior to the onset of the COVID-19 pandemic, health systems and providers throughout the country were riddled with questions about how to reduce costs, increase efficiencies and right-size their real estate portfolios while figuring out the best ways to provide patients with the best access to care.
The reason? Many hospital and health systems face the prospect of losing money in coming years, as evidenced by a 2019 Congressional Budget Office (CBO) report indicating that 40 to 50 percent of all hospitals will be operating in the red by 2025.
“And that was before COVID,” said Fady Barmada, president and co-founder of Washington, D.C.-based Array Analytics, a technology-driven healthcare advisory firm with a platform called “Pivotal” that provides map-based and claims-driven analytics.
Since the onset of the pandemic, questions about how to best provide services while remaining financially sustainable have become even more prevalent for the country’s providers, he said.
“Nearly half of our hospitals and health systems are going to lose money within the next couple of years,” Mr. Barmada noted, adding that, “yes, they really need help to figure out how to provide access to care” as well as a number of other strategies.
In what form can health systems receive that help?
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE