What we think about HCA Healthcare (HCA)
HCA Healthcare in Three Words: Community, Innovation, Value
Discuss HCA Healthcare in our Community Forum
Background
HCA Healthcare is an example of a health care company doing health care well. The large hospital system (one of the largest in the US) leverages its size to make quality care available to the communities it serves and to expand into underserved markets. Caring for communities, including its own, is one of the core missions of HCA Healthcare and is reflected in its work, in and outside of its facilities.
The emphasis on community extends to the ecosystem that supports HCA Healthcare. In addition to the ancillary care facilities that support the larger hospitals, the company also has developed a large ecosystem to support and feed into its needs. This includes the Sarah Cannon Cancer Institute, Galen College of Nursing, Healthtrust for its supply chain, and HCI its medical liability insurance company. Its size affords it economies of scale, operational efficiencies, and lots of data. The company has been one to embrace technology to leverage that data. Internal data scientists use data from over 30 million patient encounters to track trends, streamline operations, and improve patient care. The data can also be used to train AI/ML tools that can be used to help ease the burden on health care providers so they can focus on providing the best care for their patients. HCA Healthcare uses its size, the millions of patient encounters, its partner ecosystem, and technology to improve care, attract high quality care providers, and operate efficiently.
The company has faced some challenges in the last year and has harnessed its resources to overcome them. One of its biggest challenges was a shortage of nurses and having to pay a higher labor cost and limit the number of patient encounters. Incorporating the Galen College of Nursing and opening medical campuses near universities, many of them being HBCUs, has helped address that labor problem and the company is decreasing costs as it continues to grow.
HCA Healthcare provides value-based care. This is quality care for the price. It not only works with payors, Medicare and private insurers, to make sure it is reimbursed for services and not penalized for quality issues or errors, but it also makes sure the patients get well as a result of the services.
With its commitment to its team, its patients, and its community, HCA Healthcare does good and does well.
Conviction Rating Changes:
Join 7investing to get access to this section
Recent Company Updates:
Join 7investing to get access to this section