Analytics

Changes in payment trends brought about by the Affordable Care Act, technology expenditures related to electronic health records, and fluctuations in cash flow from higher deductibles and patient copays have all impacted the need for readily available cash.

Bert Zimmerli, Executive Vice President and Chief Financial Officer of Intermountain Healthcare, enthuses about wireless technology, sensors and connected health as they pertain to the growing focus on revenue cycle management in healthcare.

The Centers for Medicare and Medicaid Services said it was releasing the data to provide greater transparency on what drugs were being prescribed, and by which physicians.

Linda Burt of Nebraska Methodist and Katrina Belt of Baptist Health say analytics gives them the data to reshape their healthcare environments in the transition from fee-for-service to value-based care reimbursement.

The integration will give providers additional expertise as they navigate ICD-10, meaningful use, population health management, privacy and security, revenue and cost management and analytics.

Jeffery D. Hurst, SVP Finance at Florida Hospital, describes changes in revenue cycle management at his organization, including a new focus on analytics and an emphasis on driving patient engagement.

Recent rankings by Healthgrades and Truven claim to list the best hospitals in the country for measures such as quality, safety, patient experience and financial management, yet only one made all four.

Optum, a major player in provider data and finance services, will pay the $12 million San Mateo, California-based Cave Consulting Group for using a licensing methodology for physician analysis that was already patented.

Hospitals see the proverbial writing on the wall, and are preparing for the industry transition to value-based purchasing. But under a value model, many organizations will struggle, at least initially, to maintain their margins and to retain adequate market share in their regions.

As clinical and financial lines blur, CFOs need to constantly keep tabs on which ones are integral to maximizing income.