Wake Forest Baptist To Overhaul Operating Model, Strategy

Facing a possible gap between operating revenue and expenses of up to 20 percent by 2015, Winston-Salem-based Wake Forest Baptist Medical Center will soon take steps to overhaul its cost structure, operations and overall strategy as part of a continued effort to provide value-based, accountable care, according to a statement.

“To ensure continued strength, Wake Forest Baptist is proactively and aggressively reengineering its cost structure, operating model, quality and overall strategy,” the statement said.

The statement said Wake Forest Baptist would consider several areas for cost reduction, including “energy conservation, cost savings through supply chain management, revenue cycle improvements, efficiencies such as reducing length-of-stay, reduction in discretionary spending and managed employment through attrition, retirements, eliminating duplication and process redesign.”