Transformation plans developed by Guidehouse helped Tennessee facilities secure an estimated $8 million in revenue and $4 million in cost reduction annually from 2019 to 2022.
Sixteen Tennessee hospitals have closed since 2012, including four in 2020 alone. From 2019-2022, Guidehouse collaborated with the Tennessee Department of Economic and Community Development to develop transformation plans for 14 rural health facilities. Following a thorough and methodical application and transformation plan development process, Guidehouse zeroed in on revenue generating, cost reducing, and operations improving initiatives individualized for each participating hospital.
Participants in the Tennessee Rural Hospital Program fared better than their rural peers on operating income and operating margin throughout the early phases of the COVID-19 pandemic, and most participants showed a positive directional financial outlook compared to their pre-program status quo with:
Participating facilities have also reported positive progress toward nearly 60 percent of all facility-reporting metrics as of July 2021.
How They Did It