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Hospitals and health systems can implement value-based payment models to ensure preparedness for seasonal and pandemic capacity surges, according to industry experts.
Hospitals experienced increased demand for tangible resources and staff during the COVID-19 pandemic, demand health systems typically only face during peak flu season.
Unlike organizations in other industries, hospitals and health systems tend to lose money during their peak seasons. They also face supply shortages, largely due to the fee-for-service payment model under which most hospitals operate, lead author Shereef Elnahal, MD, president and CEO of University Hospital and former Commissioner of New Jersey’s Department of Health, explains in the Harvard Business Journal. Co-authors of the article include Kushal Kadakia and Suhas Gondi of Harvard Medical School.