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At their Nov. 11 meeting, the Regional Executive Council discussed and approved the Chapter Balanced Scorecard (CBSC) for the 2013-14 DCMS year. Highlights of the discussion included changes to the Certification goal and to the weights for Member Satisfaction and Days Cash on Hand, as well as a change to the Threshold Performance Level (TPL) for both the 2012-13 and 2013-14 DCMS year. The Council also agreed to grandfather all chapters for the Chapter Board Composition goal for 2013-14.
The 2013-14 CBSC Goals Comparison to 2012-13 is available in the Chapter Reports and Reporting Tools section of the Chapter Leader Resources site. (For more information on how CBSC goals are set, see the article Feedback: Answers from the Volunteer Satisfaction Survey-Part 3.)
Education. The education goal will remain at the lesser of 15.9 hours per member or 0.5 percent growth; and, as in prior years, this goal will be revisited during the June 2013 Regional Executive Council meeting once the final education hours have been compiled for the 2012-13 DCMS year. The 2013-14 weight remains at 30 points.
Membership. The goal remains at the equivalent of the HFMA overall projected FY14 membership count (in FY14 a slight increase is anticipated-similar to this year's 0.4 percent growth). The weight will remain at 20 points.
Member Satisfaction. The Member Satisfaction goal will remain the same as last year's; however the Council modified the weight from its current 15 points to 20 points. Council members voted to increase the weight of this goal as an indicator of the level of service a chapter delivers to its members and its importance in driving membership retention.
Certification. The council maintained the 30 point weight, and changed the alternate goal. To achieve the certification goal, the percentage of certified members must equal or exceed the May 1 HFMA average with an alternate goal of five percent improvement over the previous year's certified member percentage. The improvement number must be at least one member. The new alternate goal is based on exams passed-similar to the Award of Excellence goal-versus exams taken. The council explained that the new goal would:
Days Cash on Hand. The goal remains at 150-600 DCOH. Chapters with more than 600 DCOH can still receive points for this goal if they meet both the Education and Member Satisfaction goals. The council dropped the weight for this goal from 10 points to 5 points.
DCMS On-time Reporting. The goal to meet all DCMS chapter requirement due dates and to report all education events and newsletters within the quarter in which they occurred remains the same, as does the weight of 5 points.
Board Composition. The Council voted to retain this metric and the 5-point weight. The council also voted to continue to grandfather all chapters for the 2013-14 DCMS year. All chapters will automatically receive 5 points. This allows chapters more time for succession planning for subsequent years.
Threshold Performance Level (TPL). The Council approved maintaining the TPL at 60 points; however, the council removed the requirement that chapters who score at the TPL must write a Chapter Advancement Plan. Only chapters who score below the TPL will be required to write a Chapter Advancement Plan. The council also made this change retroactive to the 2012-13 CBSC.
The 2013-14 CBSC is the foundation for chapter planning for the upcoming DCMS year. Presidents-elect can start their chapter planning on the right foot by urging their leadership team to participate in the Jan. 31 chapter leadership webinar (rescheduled from Feb. 6), Successful Planning for the 2013-14 DCMS Year-Part 1. The webinar will prepare the incoming leadership team to:
Chapter leaders can get additional planning assistance during the following webinars:
If you have questions about the CBSC, please contact your regional executive or a member of the chapter relations team.
Publication Date: Thursday, November 29, 2012
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.
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.
Emad Rizk, MD, president and CEO of Accretive Health, discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management.
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.
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 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.
Steve Scibetta, senior director of channel sales for Ontario Systems' healthcare product line, shares insights into effectively managing receivables.
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.
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.
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.
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.
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.
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.
With the ICD10 deadline quickly approaching and daily responsibilities not slowing down, final preparations for October 1 require strategic prioritization and laser focus.
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 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.
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.
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