INDUSTRY OVERVIEW
Definition
A hospital is a healthcare institution that provides complete medical care ranging from diagnostic services, to surgery and nursing longterm care. There are many different types of hospitals that all specialize in different types of patients. For revenue management purposes, we will focus on General Hospitals in the United States – which is set up to deal with diseases and injuries along with immediate and urgent threats to death. Hospitals typically have two types of patients: inpatients and outpatients. Inpatients are patients who stay overnight and seek long-term care. Outpatients are patients who stop in for a day and leave once they are treated. Most hospitals also have their own ambulance services.
For a more in-depth overview, go to http://en.wikipedia.org/wiki/Hospital#Modern_era.
Funding
Hospitals get their funding from a variety of sources; however, they can usually be grouped into two different categories (for profit and nonprofit). For profit hospitals are funded by shareholders and their main purpose is to gain more return for their shareholders. Nonprofit hospitals can be funded by a variety of sources (government, religious denominations, etc.) and they use their revenues to improve the hospital’s inner workings rather than as profit for shareholders.
Employees
Perhaps the most unique aspect of a hospital is the numerous different types of staff. A single patient can require a personal primary physician, multiple residents and interns, nurses, social workers, transport staff, dietitians, administrative staff, laboratory staff, special service providers (therapy/rehap), pharmacists, and many more depending on the reason for the visit. Due to the immediate needs and unpredictability of emergency patients, the staff usually works long shifts (48 hours at a time).
Customers
Also unlike the hospitality industry, customers usually don’t choose to come to a hospital. They usually visit a hospital when they are in need and have to be served immediately. Each customer is also different in their diagnosis and treatment because no two customers have the same internal physical attributes.
Unique Aspects of Hospitals Pertaining to Revenue Management
- Lack of flexibility in service requirements – unlike restaurants where any server can serve any guest, patients at hospitals have to go to a specific doctor based on their disease/injury and the doctor’s specialties and skills.
- Unplanned hospital visits – hospital patients only go to the hospital when they are sick; therefore, it is difficult for hospitals to forecast or control their demand.
- Transparent variable pricing – hospital patients are often charged based on the services they receive (blood test, MRI scan, etc.) and the doctor’s time spent on the patient. Because most of the patient’s treatment options are dependent on what type of disease/injury they have, how much they will pay during the course of their stay is fairly predictable for the hospital.
- High occupancy and constant queue – hospitals are always busy at all hours and there is usually a line waiting for a doctor; thus, revenue management would focus more on how to increase the throughput rate of customers through the hospital system rather than how to attract more customers.
- Low competition, if any – depending on the size of the city, hospitals could have very few or no competitors; therefore, profit improvement would be more affected by speed than service level.
- Control of transportation to and from the hospital – most hospitals have control of their own ambulances and helicopters to bring customers to and from.
- Customer satisfaction as an afterthought – while doctors do take into account bedside manner, in terms of revenue, customer satisfaction takes a back seat. Most patients would want to avoid a hospital visit if they can; therefore, improving the patient’s mood from “content” to “extremely happy” usually contribute to improvements in revenue.
Hospitals use space to generate revenue in a number of different ways. The following are examples of how hospitals use space to maximize revenue:
- Efficiency of Movement – Hospitals group their space by services rendered and necessary machinery needed so doctors can stay within their wing of the hospital to service all their patients.
- Differentiating Room Quality – Some hospitals offer larger rooms with better views for patients who are willing to pay more to be upgraded.
- Cafeteria Food – Due to the length of stay of some patients, hospitals offer food and beverages to the patient’s visitors.
- Include Different Revenue Generators – Different revenue generators such as a pharmacy or a gift shop are also a good use of space in hospitals.
A hospital’s space creativity must always be centered around the best care for the customer. Ways hospitals have been creative about dividing up space includes:
- Building an offsite lounge for visitors to reduce crowding in the main hospital building.
- Placing departments that utilize the same machinery close to each other.
- Changing the number of patients per room based on each patients needs and preferences.
- Using the waiting rooms as a source of advertising for their current doctor’s professions – hospitals sell their physician’s skills rather than service. Thus, using the waiting room to sell books/reports written by their physicians is a good way to advertise themselves to receive more customer referrals and to build customer confidence in their skills.
- Fee per bed per hour – most hospitals price their customers based on how long they use the treatment bed per hour.
- Meals – meals are often served and charged to patients based on the amount of time they stay. For example, if a patient is there for 6 hours they would be served and charged for two meals.
- Hospital Recovery Limitations – as stated in Strategic Levers of Revenue Management, certain hospitals have put a max number of hours new mothers can stay in a hospital after giving birth.
- Internal Time Management – Hospitals can also have internal incentives that specify how long a certain procedure should take and then train their employees on meeting those standards. (ex. stitches should take no longer than 10 minutes).
- Upgrading all medical record keeping to electronic to speed up information sharing between doctors.
- Disciplined process management that is focused on maximizing teamwork efficiency and decreasing employee downtime.
- Use customer waiting time to have customers fill out surveys about their needs and wants to better know the customers.
- Use statistical analysis to forecast the demand every day
- Room Quality – inpatients can sometimes pay more to stay in a bigger room with a better view.
- Machinery Used – different types of machines used will different amounts for patients.
- Transport Services – customers who are transported to the hospital via ambulance or helicopters will pay more than customers who found their own methods of transportation.
- Tests Taken – like machinery used, customers who decide to take more tests (blood, etc.) are charged more money.
- Doctor’s Skill – some doctors are more knowledgeable or more famous than others. These doctors would generally cost more money to see.
- Time – the length of stay of a patient would affect the rate that he/she pays.
- Ability to Pay – Most hospitals have absurdly high prices for their services because they don’t expect every patient to be able to meet the full amount. They will charge high prices for wealthy patients and accept payments that are less than the full amount from patients who are less financially well off.
- Partnering with restaurants and charging a premium for patients who want something other than cafeteria food.
- Cheaper prices for patients willing to share their rooms with more people.
- Implement higher prices for patients who need to take a longer time to pay their hospital bill (loan to maturity model).
Unveiling the Best of Jakarta: Your Ultimate Resource Guide
Introduction:
In the heart of Indonesia lies a city that seamlessly blends tradition and modernity, culture and commerce – Jakarta. As the bustling capital of the archipelago, Jakarta is a dynamic metropolis that captivates visitors with its diverse attractions, vibrant neighborhoods, and rich history. Whether you’re a culture enthusiast, a foodie seeking culinary delights, a history buff, or a business traveler, Jakarta https://jakartasumber.com/ offers a plethora of experiences that cater to every interest. In this comprehensive guide, we will take you on a virtual journey through the best that Jakarta has to offer, delving into its captivating attractions, cultural heritage, culinary scene, and much more.
Exploring Jakarta’s Top Attractions:
Jakarta is a treasure trove of captivating attractions that cater to a wide array of interests. From historical landmarks to modern entertainment hubs, the city boasts a diverse range of must-visit sites. One iconic stop is the National Monument (Monas), a towering symbol of Indonesia’s struggle for independence. As you ascend to its pinnacle, you’ll be rewarded with panoramic views of the cityscape.
For those seeking a glimpse into Indonesia’s rich cultural heritage, Taman Mini Indonesia Indah stands out. This sprawling cultural park showcases the archipelago’s diverse traditions, languages, and architectural styles. It’s a microcosm of the nation, allowing visitors to explore traditional houses, sample regional cuisines, and watch captivating performances.
Cultural Immersion and Heritage:
Jakarta’s cultural tapestry is woven with threads from across the nation. The Old Town (Kota Tua) area takes you on a journey through time with its well-preserved colonial architecture. Wander through cobblestone streets, visit museums, and learn about Jakarta’s colonial past.
Delve deeper into Indonesia’s religious diversity with visits to prominent places of worship such as the Istiqlal Mosque – the largest mosque in Southeast Asia – and the nearby Cathedral Church, highlighting the city’s harmonious coexistence of faiths.
Culinary Delights and Gastronomic Adventures:
No exploration of Jakarta is complete without savoring its delectable culinary offerings. The city is a paradise for food lovers, boasting a wide range of traditional and contemporary dishes. Indulge in a flavorful culinary adventure by sampling street food at bustling markets like Jalan Alor or relishing traditional Indonesian cuisine at local eateries.
For a taste of Jakarta’s high-end dining scene, explore the upscale neighborhoods like Menteng and Kemang, where innovative chefs fuse local ingredients with global influences to create culinary masterpieces that tantalize the taste buds.
Thriving Arts and Entertainment:
Jakarta’s arts and entertainment scene is as vibrant as its culture. The city is home to numerous galleries, theaters, and performance spaces that showcase the talents of local and international artists. Art:1 Museum is a hub for contemporary art, while venues like Gedung Kesenian Jakarta host traditional dance and theatrical performances.
Gateway to Business and Commerce:
Beyond its cultural and recreational offerings, Jakarta is a vital economic hub. The city’s central business district boasts towering skyscrapers, bustling financial centers, and world-class shopping malls. This dynamic environment makes Jakarta a prime destination for business travelers seeking networking opportunities and collaborations.
Navigating Jakarta: Tips and Insights:
To make the most of your Jakarta experience, it’s essential to understand the city’s transportation, etiquette, and local customs. Jakarta’s TransJakarta Bus Rapid Transit system offers a convenient and affordable way to explore the city, while ride-hailing apps provide easy access to transportation.
When interacting with locals, a few Bahasa Indonesia phrases can go a long way in enhancing your experience. Respect for local customs, such as removing your shoes before entering homes and places of worship, showcases your appreciation for Jakarta’s culture.
Conclusion:
In a city as diverse and multifaceted as Jakarta, every corner unveils a unique story waiting to be discovered. From its captivating attractions to its rich cultural heritage, culinary delights, and thriving business opportunities, Jakarta has something to offer every traveler. As you embark on your Jakarta journey, let this guide be your compass, leading you to the very best that this remarkable city has to offer. Whether you’re wandering through history-rich streets or savoring the flavors of Indonesian cuisine, Jakarta’s charms are bound to leave an indelible mark on your heart and mind.
Hello Author, your blog is good. thanks for sharing with us. Cat Eye Makeup
The beauty of coming up with just one โปรโมชั่น really great idea is that it can lead you down a highway of ideas that are similar and related but go more in-depth with different angles.
I understand this is not exactly on topic, but i run a web site using the similar platform as well and i’m having troubles with my comments showing. will there be a setting i am losing? possibly you could help me out? thx. srkari rijalt com
Stress is actually โปรโมชั่น a normal part of life.
Really impressed! Everything is very open and very clear clarification of issues. It contains truly facts. Your website is very valuable .토토사이트
Ma Dong-seok Crime City Season 4 ☞ Lead actor interview
If you are looking for more information about flat rate locksmith Las Vegas check that right away. free ai tools
Howdy! This is my first comment here so I just wanted to give a quick shout out and tell you I genuinely enjoy reading your blog posts. Can you suggest any other blogs/websites/forums that go over the same subjects? Thanks! customzied curtains
Buruan gabung di slot online Gampang menang, seru permainannya dan bonusnya pun melimpah
Daftar Slot Gacor gampang menang ini terdiri dari provider slot yang resmi dibulan Juni 2023 ini meluncurkan game slot gacor terbaru.
situs slot online yang menyediakan permainan judi slot terlengkap dan Gampang menang saat ini serta jackpot terbesar bisa kamu dapatkan. Mengikuti taruhan judi online slot memang bisa dilakukan melalui pilihan situs slot online gacor mana saja.
Berita baik untuk kalian penggemar games judi Slot gacor gampang menang tentu saja akan terasa bahagia karena saat ini sudah hadir ditengah-tengah kita yaitu situs judi slot online yang bisa bawa hadiah jackpot maxwin untuk Kamu.
Permainan Game slot gacor ini juga tidak jauh berbeda dengan beberapa jenis situs judi slot online lainnya. namun keunggulan dari situs slot gacor hari ini yang kami rekomendasikan juga tidak diragukan lagi untuk kalangan pemain dibeberapa situs slot karena winrate mencapai 98% kemenangan maksimal didalam game slot online.
Bermain di Slot Depo 50 Rb Bonus 50 Rb & Slot Bonus New Member 100% dengan TO rendah Terbaru 2023 taruhan lewat Handphone yang bisa bertaruh di situs slot online terbaik 2023. Tidak hanya taruhan Judi Slot Online, Kamu bisa bermain permainan olahraga. Dikala selesai mendaftar di Slot Bonus 100% Kamu akan langsung mendapatkan bonus new member 100% (untuk semua slot game). Jika situs judi slot online gampang menang bonus new member 100 tidak terbuka di Indonesia sebab diblokir, kamu akan tetap dapat masuk melalui situs slot resmi lewat link kami Situs ini bisa diakses dari komputer maupun ponsel yang ada serta tipe WAP.
Impresionante artículo. Gracias por compartir una
escorts Buenos Aires publicación tan increíble.
Howdy very nice website!!
I am satisfied to seek out numerous useful information here in the post, we’d like to develop more strategies in this regard, thank you for sharing. Amvio
Most organizations, to ensure social Nigoal distancing,
This is an unbelievable rousing article. I am fundamentally satisfied with your great work. You put truly exceptional lodging data…Amazing Work..!
스포츠토토
Nearly everyone experiences embarrassment Nigoal from time to time.
I in addition to my friends have already been analyzing the great tips and hints found on your website and immediately developed a terrible feeling I never expressed respect to the blog owner for those strategies. Most of the people became as a result happy to read them and already have surely been having fun with those things. Many thanks for actually being simply kind and also for deciding upon these kinds of useful topics millions of individuals are really wanting to be aware of. Our own sincere regret for not saying thanks to you sooner. chatgpt
Thank you for sharing nice and Informative Post! you cab aslo visit my website
ติดต่อหวยลาว
Thanks for sharing the post.. parents are worlds best person in each lives of individual..they need or must succeed to sustain needs of the family. NID BD Online
As you prepare to Tools Social Media embark on your study abroad journey
In certain Cara Membuat Landing Page moments, you will experience insurmountable excitement as you
I discovered your website internet site online and check a couple of your early posts. Always keep inside the excellent operate. I just additional your Rss to my MSN News Reader. Seeking forward to reading far more from you finding out down the road!… Dude.. I am not much into reading, but somehow I got to read many articles on your blog. Its amazing how interesting it is for me to stop by you pretty often. just looking around some blogs, seems a pretty nice platform you are using and the theme as well. I’m currently using WordPress for a few of my sites but looking to change one of them over to a platform similar to yours as a trial run. Anything in particular you would recommend about it? 토토사이트
visualize yourself studying and living in Fotografi Analog the magical country you’ve chosen.
However, this moment can transform into Teknik Panning Dalam Fotografi intense feelings of anxiety, which can cause you to question
everything from homesickness to getting lost in Cara Mengeringkan Sepatu a country you know nothing about.
I promise you that these feelings have been Cara Membesarkan Sepatu felt by the thousands of students who have traveled abroad.
Studying abroad is a Cara Mengecilkan Sepatu special and unique experience that shouldn’t be spoiled by fear and anxiety.
Please share more like that. Köp Google Recensioner
Nice Blog and good informative content. and i like the content of the blog.
Dry hair treatment
This post will offer advice for how to Rekomendasi Sepatu Lokal deal with common
The World’s Largest Diamond Jeweler check this. With a legacy spanning decades, Signet has become synonymous with luxury, craftsmanship, and unparalleled expertise in diamonds.
If you enjoy your career, you may find it Nigoal easy to remain excited about your work and inspired by your role.
That’s nice. It was a fine article.
แทงบอลสเต็ป
It’s really great. Thank you for providing a quality article. There is something you might be interested in. Do you know ? If you have more questions, please come to my site and check it out!
스포츠토토
EVERYONE in the family Priority number one. We’re small-scale, in-home breeders. We’re not a facility or a kennel; we’re a group of Pug enthusiasts who are utterly smitten with our adorable kids. Perfect House of Pugs is just breathtaking! Our Pugs have the best temperaments and personalities. They are created specifically for families looking for a high-quality Pug puppy.
With over 18+ years, we have fought for only the finest standards, with our Pugs’ health as our primary emphasis, which is why we put EVERYTHING into it, never cutting corners, always changing, and always improving. Our children are our greatest source of pride and delight. Our mission is to build connections (rather than merely sell puppies) and to bring pleasure and joy into your household. We are raising a Pug family and are certain that these puppies will become an integral part of your life.
PLEASE VISIT OUR WEBSITE LINK BELLOW FOR MORE INFORMATION ABOUT PUG PUPPIES.
PUG PUPPIES FOR SALE UNDER 500 NEAR ME
To begin with, you can start thinking about Nigoal your personal customer experience,
Doors and Shelters Realty
Thank you for sharing your expertise and taking the time to create such a valuable resource. Tractor on Road Price
Ma Dong-seok Crime City Season 4 Lead actor interview
Tarot Reading https://www.etsy.com/shop/PsychicZahiraTarot
Positive thinking is so much more than just trying Nigoal to smile or being cheerful.
After six long Cara Merawat Sepatu Safety years and a global pandemic, I was back in China.
I arrived in Shanghai Rekomendasi Sepatu Flat two days before my academic program began to get
Punjab School Education Board (PSEB) is a Mohali, Chandigarh, India Responsibilities Conducting Annual Examinations for 5th, 6th, 7th, 8th, 9th Class Examination Streams. Government and Private Schools PSEB 7th Class Question Paper 2024 both Belonging to State of Punjab State, PSEB 5th, 6th, 7th, 8th, 9th Class Examination Annual Exam go to Conduct Every year Month of April, PSEB Regulate, Supervise and Develop Matriculation Examination in the State of Punjab State Punjab Board 5th, 6th, 7th, 8th, 9th Class Students have Tension for the Annual Examination 2024. our Website Provided All PSEB 5th, 6th, 7th, 8th, 9th Class Question Paper 2024 to makes Students as Tension Free. Important Question 2024 will help the Students for Good Preparation.
You make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers. African gray parrot for sale
I will right away snatch your rss as I can not in finding your e-mail subscription link or e-newsletter service. Do you have any? Kindly allow me understand so that I may just subscribe. Thanks. small pistol primers in stock now