SNF settings are proven as the low cost providers in the post-acute environment. SNF Providers are advantaged by:
- Growing demographic demand for skilled services – both post-acute and long-term care
- The need-driven attribute of its business
- Being most competitive in providing service value at low cost
SNF providers are competitively entrenched in the local healthcare and community market
- The franchise nature of the SNF Sector remains competitively advantageous
- SNF Providers are most adept at managing regulatory intervention and influences
- SNF Providers are proficient in the management of third party payer reimbursement
The growing integration of the healthcare industry generally is being fostered by various elements of health care reform legislation. New payment mechanisms have been conceived to provide incentives for providers that demonstrate cost effective operations and favorable patient or resident care outcomes. The emergence of Accountable Care Organizations (“ACO’s”) and other “bundled payment” arrangements will mandate the greater collaboration of health care providers in the realm of post-acute delivery of health care services. Health care providers who fail to advance progressive management practices as well as information technology capabilities to effectively compete and collaborate in this new environment will be threatened for business survival.
- The loss or deterioration of valued referral relations in this new provider setting could prove devastating.
- Growing competitive influences in Product, Program & Practice
- Aging and deterioration of asset interests
- Growing consumer expectations for goods & services
- Sustained exposure to risk management factors
- Demands of growing specialized resource needs of continuing operations
- Capital demands of emerging technologies & systems development
- Implications of current and future economic conditions
- Viability of freestanding single purpose providers
- Progressive management capabilities exhibited by “best practices” in leveraging technology and strategic collaboration will constitute the formulary for success and sustainability in the new healthcare business environment.
- The effectiveness of management leadership in advancing organizational development in this manner will be essential.
- Ignoring the demands of Human Resources and associated management challenges of recruitment and retention
- Diminishing government funding
- Escalating regulatory intervention
- Exposure to risk factors stemming from management and operating deficiencies
- Failure to meet mandated practice standards imposed by regulatory compliance and health care reform legislation