Industry Voices—3 ways to address hospital CEOs' top priority: Cost control

The Advisory Board’s Annual Health Care CEO Survey found that cost control is now healthcare system CEOs’ number one priority. The nationwide survey took place between December 2017 and March 2018, with 146 C-suite executives from hospitals and health systems providing their responses. Beating out revenue growth, 62% of surveyed CEOs identify “preparing the enterprise for sustainable cost control” as their utmost priority—the most of any of the 33 concerns outlined. “Health system CEOs recognize that any effective growth or financial-sustainability strategy must be built on a competitive cost structure in order for their enterprises to deliver high-quality, cost-effective care to the patients they serve,” stated Christopher Kerns, director of research at Advisory Board, in a release. “The entrance of non-traditional healthcare providers … adds to the urgency of health systems improving cost structures.”