Healing Healthcare with Parking
A recent report from Morgan Stanley stated that 15% of US hospitals have weak financial metrics or are at risk of potential closure. To determine this, Morgan Stanley analyzed data from roughly 6,000 hospitals, citing weaknesses based on margins before interest, occupancy, and revenue. The struggle to merge accessibility with quality care has forced health systems to look at expansion into outside markets as a way to reach more users. As competition for patients and access rises, hospital operators must focus on the needs of the patient by providing a seamless experience from arrival to departure.
Improving the Patient Experience
Making the patient’s experience less complicated starts outside the walls of the hospital. By enhancing hospital parking operations with a paid system, parking management is turned over to experts in the field, giving the hospital one less thing to worry about and making the arrival and departure processes as comfortable and frustration-free as possible. Parking Ambassadors are able to uphold the same standards of patient care found within the hospital through various healthcare-specific training initiatives, such as:
- CPR and first-aid
- Patient transfer techniques
- Emergency and safety procedures
- Compliance with HIPAA, OSHA, and Joint Commission Standards
In addition to improving patient care techniques, implementing a paid parking program can improve finances, steering away from the threat of closure. These benefits include:
- Increased gross revenue (which is often allocated to hospital structural upgrades and repairs)
- Decreased claims
- Increased Press Ganey scores
- Resolved lack of parking availability and displaced employees
All of these benefits ultimately achieve the main goal of any healthcare operation: higher quality patient care.
Changing the Game
With 15% of hospitals on the “at-risk” end of the spectrum, action is needed to protect these healthcare institutions. And the solution to this may be found outside the walls of the hospital. By assessing these services and implementing new systems into the healthcare operation, a revamped parking program can create an all-encompassing patient experience from arrival to departure.
Senior Vice President, Healthcare