Strategic Planning
The role of the chief financial officer is one in flux, and areas not traditionally under their authority are now taking center stage.
Prime Healthcare Services has won in its bid for the financially struggling Saint Michael's Medical Center in Newark, New Jersey, according to Saint Michael's Board of Directors.
According to the CareCloud Practice Profitability Index, about 59 percent of owners surveyed said they were not planning to sell or merge, an uptick compared to the 54 percent who said the same thing last year.
Todd Craghead, who oversees $5 billion in annual gross patient revenue for the Utah health system, is leading the system's consolidation of revenue cycle functions across 22 hospitals and more than 100 physician clinics.
Colorado healthcare provider Centura Health said this week that it plans to open several hybrid centers for both urgent and emergency care in the coming months, touting it as a new model for the system hat could help rein in costs.
Though healthcare systems can gain insurance know-how by partnering with or acquiring an insurer or third party administrator to handle claims, compliance and customer service, putting it all together can be challenging.
The revenue cycle is a complicated circuit of administrative, technological, financial and patient-level processes that many healthcare administrators say is in need of streamlining.
Because hospital-acquired infections are a common complication and extend inpatient stays, hospitals actually save money by building costly, single-patient rooms, according to a new study by Cornell University.
The American Medical Association is adding 20 leading medical schools to the 11 already participating in its Accelerating Change in Medical Education Consortium, a group that hopes to "bridge the gaps that exist between how medical students are trained and how healthcare is delivered" in the 21st Century.
The University of Pennsylvania Health System this week said it plans to partner with VPS Healthcare in the United Arab Emirates.