Cover Story

hfm_March_CoverInnovations in Cost Management Identifying the myriad components that go into driving patient care costs has allowed some health systems to find more ways to lower the cost of the care they provide. 

By Rich Daly

 

 


From the President's Desk

From the President March

Expanding on thoughts in his March 2014 column in hfm magazine, HFMA's President and CEO Joe Fifer discusses provider scale.

 


Features

Cracking Down on Cost Outliers

Hospitals should develop a systematic approach for identifying the patients and physicians who are driving higher costs in their organizations and then managing these outliers to reduce costs of care.

By Jill E. Sackman, Levi Citrin

Uncovering Key Data Points to Improve OR Profitability

Hospital finance leaders can increase profit from operating rooms by developing performance improvement plans around key statistics, such as utilization, unique morning starts, and delays.

By Robert Stiefel, Howard Greenfield

The New Face of Growth

Value, the key to increasing profitability, depends on effective strategies to build a broad, loyal patient base.

By Sasha Preble, William Wachs

A Multidisciplinary Approach to Improving Revenue Integrity

Forming a systemwide team to improve revenue integrity enabled Intermountain Healthcare to reduce charge errors by 3 percent across its organization.

By Todd Craghead, Eric Liston

Centralized Contracting: An Imperative for Reducing Health System Costs

A centralized contracting approach has enabled Spectrum Health to eliminate redundancies and reduce costs in areas ranging from facilities to labor to purchasing of clinical supplies.

By Christopher Baskel

Bond Financing in Volatile Times

With increased need for capital, balance-sheet pressures, and volatile markets, capital access requires new sophistication.

By Kenneth Gould, Christopher Blanda


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Anesthesia Subsidy: Unraveling the Web of Doubt

By dispelling the myths and understanding the realities of anesthesia subsidies, hospital administrators can better structure their agreements to improve service, revenue and performance. 

Total Cost of Ownership: The Influence of Clinical Engineering

By identifying hidden costs associated with clinical engineering, healthcare providers can expense on the general ledger, and appropriately staff clinical engineering to drive both short-term and long-term savings.

Achieving an Integrated Revenue Cycle

An integrated revenue cycle fosters cross-continuum collaboration as well as healthcare delivery, enterprise-wide operations, and customer service.


Focus Areas

Revenue Cycle

Integrating Hospital and Physician Revenue Cycle Operations

An integrated revenue cycle strategy supports coordinated care delivery initiatives while reducing costs, enhancing efficiency, and improving patient satisfaction.

By Kevin Lockett

Web Extra: Learn what to consider in developing an effective revenue cycle integration strategy.

Cost and Quality

Using Business Intelligence to Reduce the Cost of Care

"An effective business intelligence system includes four information strategies: population health analytics, risk-based cost analysis, performance analytics, and care management."

By Daniel Marino


Columns

From the Chair

Connecting with Capital Suppliers

HFMA's Capital Conference gives providers the chance to share their strategic initiatives and financial performance with representatives from the capital markets and each other

By Steven Rose, FHFMA, CPA

From the President

The Future of Consolidation

Consolidation in health care makes sense only when it drives a lower-cost offering to the market and creates a better value proposition for consumers.

By Joseph Fifer, FHFMA, CPA

Eye on Washington

 Why 2014 May Be the Year for Physician Payment Reform 

The level of interest Congress has shown in fixing the sustainable growth rate for physician payment in the past year is more promising than it has been at any time in the past two decades.

By Gail Wilensky

Healthcare Value

Enhancing the Value of Hospital Medicine Groups

Hospitalists play a significant role in efforts to improve both the quality and cost-effectiveness of patient care in acute care settings.

By James Landman

Healthcare Reform

Physician Pay and Student Debt

Healthcare professionals should be deeply concerned about the looming student loan crisis that indirectly threatens their incomes.

By William Weeks

Capital Finance

Using Life Insurance to Build Future Capital

Deferred giving programs can effectively build future assets for a healthcare organization’s foundation.

By Randall Luecke, Joseph Fernandez, Marjorie DeCanio

Data Trends

National Average Costs by Department for Heart Failure and Shock (Revisited)

By William Shoemaker

Web Extra: Read the March 2010 Data Trends: National Average Costs by Department for Heart Failure and Shock.

Etcetera

Member Spotlight: Helping Hands (and Feet)

 

Publication Date: Monday, March 03, 2014