3 Timely Strategies to Improve Health System Performance

In this episode, we are joined by Eric Parmenter, VP Sales of Hospitals and Health Systems at Quantum Health, to discuss the biggest challenges hospital leaders are facing, strategies hospitals are using to address financial challenges, the considerations leaders are taking when tackling workforce retention and more. This episode is sponsored by Quantum Health.


Addressing the Biggest Healthcare Challenges Today: Insights from Eric Parmenter of Quantum Health


Eric Parmenter, the Vice President of Hospitals and Health Systems at Quantum Health, tackles the biggest challenges that healthcare leaders face today. In this episode, he shares insights into how health systems can address financial difficulties caused by the pandemic and workforce issues.

Financial Challenges

According to Parmenter, labor costs in the healthcare industry are projected to increase by $86 billion this year, challenging hospitals' financial health. However, he points out various strategies hospitals are using to overcome this problem. These include raising salaries, improving benefits, addressing social determinants of health, partnering with nursing and medical schools, and pursuing non-traditional revenue sources like direct employer relationships and Medicare Advantage plans.

Workforce Retention

One of the most significant challenges for hospitals is recruiting and retaining frontline clinicians and staff. Healthcare leaders need to invest in pay and benefits, as well as provide meaningful support for their employees. This includes offering resources for mental health, childcare, and housing. By taking a holistic approach, health systems can tackle violence in the workplace, patient and clinician safety, and the pandemic by increasing pay, expanding benefits, and prioritizing diversity and inclusion.

New Strategies in Healthcare

Healthcare leaders are also pursuing new strategies, such as entering into direct contracts with employers, creating centers of excellence, and offering onsite clinics and value-based direct care services. These strategies aim to provide healthcare services that are tailored to the needs of the patients and the community, as well as increase revenue for the hospitals.


Healthcare leaders need to address the financial challenges caused by the pandemic, as well as innovate new strategies to expand their revenue streams to keep pace with the changes in the industry. By investing in their workforce with better salaries and support resources, expanding benefits, and prioritizing diversity and inclusion, hospitals can tackle the biggest challenges they face today.

This episode is sponsored by Quantum Health.


Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com


This episode aired on 01/09/2023 and can be listened here.


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