Strategic Planning
Savvy financial officers at senior living facilities know that the key to the future of their business is care coordination. Trouble is, financial officers can't unlock that future because the technological key, a comprehensive EMR, is not yet available to the senior living market.
A new report by the Virginia Hospital and Healthcare Association paints a grim picture of the daunting financial challenges facing hospitals and other healthcare organizations in that state.
On the face of it, the industry is making great strides toward adopting value-oriented payment models, but the question of whether or not the industry is also reducing costs and improving care quality remains unanswered.
In an era of mounting fiscal uncertainty marked by downward trending net revenue at hospitals, the need for cost reduction has never been greater. Yet, many cost reduction efforts fail due to a lack of understanding about "the how" of achieving real, measurable cost savings.
In this essay, Bill Pugh, CFO of PinnacleHealth, addresses the challenges and opportunities the Harrisburg, Pa.-based health system experienced moving towards the accountable care model. He offers some "lessons learned" for other health systems embarking on the ACO journey.
The role of the modern hospital CFO has changed considerably in recent years. Not only do they perform a vital strategic role overseeing enterprise planning and performance, by necessity they have become more involved in the clinical aspects of healthcare.
The ability of accountable care organizations to meet the goals of improving care and lowering costs may be hindered by health IT obstacles suggests a new analysis.
New research suggests that socioeconomic factors can account for most of the geographical variation in Medicare spending. As a result, larger socio-demographic issues must be considered when assessing the quality of care offered by healthcare providers.
As the economy continues to improve, more healthcare businesses are making capital investments to fuel their growth. Whether you finance equipment through a lease or loan, it is important to determine which will best balance usage, cash flow and your financial objectives.
The value-based model of healthcare is gradually transitioning from the pilot phase to implementation, as health insurers and providers strive to offer better care while eliminating unnecessary costs. But for providers who have always been paid fee-for-service, it is a different way of thinking.