There are more than 1,800 rural hospitals in the US — about 47% of them are operating in the red. As operating margins decline, more than 450 of these hospitals are financially unstable. And within the last decade, more than 120 hospitals have shut their doors.
Retaining CEOs is also a challenge, with drop-off rates exceeding 20% — or even reaching 30% — in many communities. Whenever the top leader departs, this can lead to other staff leaving and overall instability.
In Episode #13 of "Next Up," Modern Healthcare's Alex Kacik talks about what's needed to address the specific challenges rural hospitals are facing, and how new leaders can use innovation and creativity to keep these facilities up and running.