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How lean strategies saved a critical access hospital from financial crisis

The 25-bed critical access Monadnock Community Hospital faced a huge deficit as a direct result of an unexpected ice-storm that hit the state of New Hampshire in December 2008, causing a two-week power outage. The hospital was in deep financial trouble.Fortunately for the hospital and the region, the hospital management had decided to look into various options to bail the hospital out of this crisis. The hospital's lab department had some success following a lean Six Sigma model, so the hospital authority pursued the strategy hospital-wide. Mr. Peter L. Gosline, president and CEO of Monadnock Community Hospital, had highlighted the success of the hospital's five-year "lean" journey during the American College of Healthcare Executive's 2014 Congress in Chicago, a model that he estimates has saved the organization $1 million a year!

To read more, visit the link address given below:

http://www.fiercehealthcare.com/story/how-lean-strategies-saved-nh-critical-access-hospital-financial-ruin/2014-04-07

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