Dr. Skip McDannald, now retired, attested to how poor rural hospital management in Georgia can be. He had once served as the CEO of a hospital system, and was asked to help troubleshoot at Taylor Regional Hospital in Hawkinsville in 2015. "I don't want to run down previous management, but the hospital was struggling," McDannald told Thanawala. "They were not judicious in the way they were spending money nor were they knowledgeable about the things they were not collecting."
"Only about a third of rural hospital CEOs and board chairs surveyed in a 2010 study strongly agreed that their board members understood financial reports or had the ability to spot poor financial performance early," Thanawala reports.
However, poor decision making isn't the only reason rural hospitals close, noted Jimmy Lewis, CEO of rural hospital network HomeTown Health. The seven rural hospitals that have closed in Georgia since 2010 shuttered because "they simply ran out of money, and the system got too complex for small community hospitals like that," Lewis told Thanawala.
Health care experts told Thanawala that Georgia is the only state they know of that requires such classes.
from The Rural Blog https://ift.tt/2OMCgk1 Georgia lawmakers now require most rural hospital CEOs to take financial management and planning classes - Entrepreneur Generations
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