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Transformation toward value-based healthcare is reshaping the delivery of care, patient expectations, and payment structures.
Improve your revenue cycle performance through standard metrics, peer comparison, and successful practices.
Ripple Effects of Reform on Capital Financing
Capital planning in health care today poses new challenges as capital investments increasingly shift from bricks and mortar to more fluid, process-based strategic initiatives.
By Kelly Arduino
Atul Gawande: Understanding the Forces Driving Healthcare Change
Atul Gawande, MD, MPH shares his views on key ways to deliver higher-quality care at lower cost as well as the increased focus on transparency of cost and quality information.
By Rich Daly
Building Blocks for Organizational Change
Achieving the potential benefits of a partnership depends on how well the partnering organizations understand each other’s culture, capabilities, and needs from the start.
By Rich Daly
Determining Your Organization's "Risk Capability"
To be successful in a healthcare reform environment, providers must develop key capabilities for managing financial and performance-based risk.
By Bill Hannah, Melinda Hancock
Time to Replace Adjusted Discharges
A new metric for measuring total hospital volume, Equivalent Discharges, correlates significantly better with cost than do adjusted discharges—without the same inherent flaws.
By William O. Cleverley
Managing Chronic Conditions: Economic Analysis Can Help Mitigate Costs of Diabetic Ulcers
Healthcare administrators should keep informed of new, cost-effective treatments that can reduce healthcare costs and improve outcomes.
By Leah Amir
Web Extra: Diabetes and DFUs: Incidence and Effects on Americans
Web Extra: Diabetes and DFUs: Incidence and Effects on Americans
Improving Price Transparency: An Overview of the HFMA Price Transparency Task Force Report
Strategic Agility Series Report 4: Managing Productivity for Strategic AgilitySponsored by GE Capital
HFMA Roundtable: Meeting the Healthcare Needs of Underserved CommunitiesSponsored by Walgreens
Special Advertising Section5 Strategies for Smoothing the Road to ICD-10
Business ProfileDeloitte: ICD-10 Strategies to Consider During the Delayed Timeline In this profile from Deloitte, experts discuss key strategies hospitals and health systems should consider when determining the best path forward with additional time for the ICD-10 transition.
Tying Supply Chain Costs to Patient Care
Following the FDA’s establishment of a unique device identification system, hospitals should invest in technology and processes to trace supply usage patterns and analyze effects on cost and quality.
By Rosalind C. Parkinson
5 Strategies for Lessening the Self-Insurance Impact of the ACA
Many healthcare organizations use self-insurance programs to control professional liability and workers’ compensation exposures.
By Richard Frese
From the Chair
Keep Doing Whatever It Takes!
HFMA volunteers show a continued commitment to do “Whatever It Takes” to successfully guide the nation’s healthcare industry forward.
By Steven P. Rose, FHFMA, CPA
From the President
To Transparency... and Beyond!
An HFMA report describes what health care’s stakeholders can do to improve price transparency for patients and other care purchasers, but several transparency-related issues remain to be addressed.
By Joseph J. Fifer, FHFMA, CPA
Eye on Washington
Why Implementing the ACA Has Been Harder Than We Thought
A broad assessment of the initial roll-out phase of the Affordable Care Act points to daunting challenges that lie ahead to meet objectives of the law.
By Gail R. Wilensky
Analyzing Financial Performance in the New World
New business intelligence tools have emerged to help providers better assess and report financial performance.
By John Glaser
Hospitals, health systems, and other provider organizations are blurring the line between competition and collaboration to achieve greater value in health care.
By James H. Landman
The Fiscal and Political Realities of SGR Reform
A permanent fix of the sustainable growth rate (SGR), although badly needed, remains elusive in the current political environment.
By Ken Perez
Risk and Return in the Post-Crisis World
Principles governing the relationship between risk and return seem to have been set aside recently but may reassert themselves as the financial environment returns to longstanding earlier patterns.
By William F. Jarvis
5 Ways To...
5 Ways to Bring Hospital and Physician Revenue Cycles Together
Creating an integrated hospital and physician revenue cycle can help large healthcare systems overcome shrinking margins, pursue new payment models, and expand service delivery.
By Kathleen B. Vega
Member Spotlight: Burro Baller
Publication Date: Thursday, May 01, 2014
TriMedx helps health systems control costs and uncover savings opportunities by optimizing the clinical engineering function.
Patient financial engagement is more challenging than ever – and more critical. With patient responsibility as a percentage of revenue on the rise, providers have seen their billing-related costs and accounts receivable levels increase. If increasing collection yield and reducing costs are a priority for your organization, the metrics outlined in this presentation will provide the framework you need to understand what’s working and what’s not, in order to guide your overall patient financial engagement initiatives and optimize results.
A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow.
No two patients are the same. Each has a very personal healthcare experience, and each has distinct financial needs and preferences that have an impact on how, when and if they chose to pay their healthcare bill. It’s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients. The need to tailor financial conversations and payment options to individual needs and preferences is critical. This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach, but take control of rising collection costs.
Emad Rizk, MD, president and CEO of Accretive Health, discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management.
This white paper, written by Apex Vice President of Solutions and Services, Carrie Romandine, discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle. Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs, but it will maximize the amount collected before sending to collections. Further, targeted messaging should be applied across all points of patient interaction (i.e. point of service, customer service, patient statements) and analyzed regularly for maximized results.
Jim Bohnsack, vice president, solution & corporate development for Conifer Health Solutions, explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements.
This white paper, written by Apex President Patrick Maurer, discusses methods to increase patient adoption of online payments. Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections. This white paper shows why patient-centric approaches to online payment portals are important complements to traditional provider-centric approaches.
Steve Scibetta, senior director of channel sales for Ontario Systems' healthcare product line, shares insights into effectively managing receivables.
Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs. This article, written by Apex Founder and CEO Brian Kueppers, explores a number of strategies to create synergy between patient billing, online payment portals and electronic health record (EHR) software to realize a high ROI in speed to payment, patient satisfaction and portal adoption for meaningful use.
Elena White, vice president of risk, quality, and network solutions for Optum, discusses how healthcare providers can leverage data and technology as they enable risk in their organization.
Faced with a rising tide of bad debt, a large Southeastern healthcare system was seeing a sharp decline in net patient revenues. The need to improve collections was dire. By integrating critical tools and processes, the health system was able to increase online payments and improve its financial position. Taking a holistic approach increased overall collection yield by 10% while costs came down because the number of statements sent to patients fell by 10%, which equated to a $1.3M annualized improvement in patient cash over a six-month period. This case study explains how.
Somnia President and CEO Marc Koch, MD, MBA, explains how hospitals can drive transformative change in the perioperative experience for outstanding clinical and financial outcomes.
With the ICD10 deadline quickly approaching and daily responsibilities not slowing down, final preparations for October 1 require strategic prioritization and laser focus.
PMMC President Roger L. Shaul discusses the effects of healthcare reform on revenue cycle management and how PMMC's products help clients adapt to a changing financial environment.
Read how Gwinnett Medical Center provides clear connections to financial information, offers multiple payment options for patients, and gives onsite staff the ability to collect payments at multiple points throughout the care process.
Greg Burgess, Founder and Chief Product Officer at Burgess Group shares insights and opportunities for payment integrity in the rapidly changing healthcare IT landscape.
Read how Orlando Health was able to perform deeper dives into claims data to help the health system see claim rejections more quickly–even on the front end–and reduce A/R days.
To maintain fiscal fitness and boost patient satisfaction and loyalty, healthcare providers need visibility into when and how much they will be paid–by whom–and the ability to better navigate obstacles to payment. They need payment clarity. This whitepaper illuminates this concept that is winning fans at forward-thinking hospitals.
Financial services staff are always looking for ways to improve the verification, billing and collections processes, and Munson Healthcare is no different. Read about how they streamlined the billing process to produce cleaner bills on the front end and helped financial services staff collect more than $1 million in additional upfront annual revenue in one year.
Effective revenue cycle management can be a challenge for any hospital, but for smaller providers it is even tougher. Read how Wallace Thomson identified unreimbursed procedures, streamlined claims management, and improved its ability to determine charity eligibility.
Before launching an energy-efficiency initiative, it’s important to build a solid business case and understand the funding options and potential incentives that are available. Healthcare leaders should consider taking the steps outlined in the whitepaper to ease the process of gaining approval, piloting, implementing, and supporting sustainability projects. You will find that investing in sustainability and energy efficiency helps hospitals add cash to their bottom line. Discover how hospitals and health systems have various options for funding energy-efficient and renewable-energy initiatives, depending on their current financial structure and strategy.
Health care is a dynamic mergers and acquisitions market with numerous hospitals and health systems contemplating or pursuing formal arrangements with other entities. These relationships often pose a strategic benefit, such as enhancing competencies across the continuum, facilitating economies of scale, or giving the participants a competitive advantage in a crowded market. Underpinning any profitable acquisition is a robust capital planning strategy that ensures an organization reserves sufficient funds and efficiently onboards partners that advance the enterprise mission and values.
The success of healthcare mergers, acquisitions, and other affiliations is predicated in part on available capital, and the need for and sources of funding are considerations present throughout the partnering process, from choosing a partner to evaluating an arrangement’s capital needs to selecting an integration model to finding the right money source to finance the deal. This whitepaper offers several strategies that health system leaders have used to assess and manage capital needs for their growing networks.
HFMA's print, email, online, and mobile opportunities provide you maximum reach and impact. We will work with you to build a plan that meets your needs. Contact a sales rep.
HFMA's MAP App is a web-based application that helps organizations track results, compare data with peers, and improve revenue cycle performance. Schedule a demo.
HFMA’s Buyer’s Resource Guide is a comprehensive vendor directory that helps healthcare finance professionals find products and services.
Access all the tools and resources you need to develop your personal skills. Organized into distinct career levels, this tool creates a career plan specific to your career goals.
Copyright 2016, Healthcare Financial Management Association.
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