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In the face of the nation's economic challenges, hospitals are under increasing pressure to reduce costs. Benchmarking is key to achieving that goal.
Having a good theoretical understanding of business intelligence is all well and good, but what really matters is how you apply it.
This exhibit depicts the heart failure and shock MS-DRG triad from facilities in a four-state area with similar acute and CCU bed sizes, teaching programs, and significant volumes for the MS-DRGs studied.
The Medicare payment landscape is changing, and hospitals should be taking steps to ensure they receive appropriate payment. Here's how.
Recent declines in the total number of hospitals and beds nationwide have raised questions about effects on emergency department services.
An analysis compares the profitability of urban and rural hospitals paid under the inpatient prospective payment system with that of rural hospitals with special Medicare payment provisions.
Healthcare entities need to determine an appropriate accrual from their medical malpractice medical malpractice year-end adjustments to ensure adequate reserves in year-end financial statements.
"Many rural providers believe they are operating within the coordinated Medical Home-type approach that promises to reduce healthcare costs. The findings of this analysis support that contention. "
Payment challenges, spiraling healthcare costs, and a slow economic recovery are some market forces that have ignited the national explosion of consolidation.
An analysis of changes in discharge rates discloses that, after increases in 2006 and 2007, the percentage change dropped from 2008 through 2010 for all hospitals and most groups in the analysis.
A study looking at data adjusted for patient severity found that both revenues and expenses showed increases per adjusted discharge from the second quarter of 2010 through the second quarter of 2011.
Seven measures are indispensable to healthcare financial executives for assessing their organizations' financial well-being.
Applying leading practices long used by other industries may help your hospital gain a competitive edge while improving its financial performance.
Shifts in demand for a hospital's services can occur unexpectedly. Demand forecasting can help you prepare for these shifts and avoid strategic missteps.
"Our managers needed a more up-to-date budget that could reflect changes in referral patterns, drug utilization, or costs occurring after development of the original budget,” says Karen Wartenberg at Moffit Cancer Care.
What are the most important performance indicators for a new hospital or physician practice?
If you are not using market intelligence data to analyze your organization's performance, you may be missing out on some great opportunities to develop product lines.
The service line model benefits nearly all stakeholders involved in healthcare delivery. But how is its success measured?
An hfm web exclusive.
With the right process and tools, healthcare finance leaders don't need a PhD or a crystal ball to predict the future.
Look beyond the bottom line, and focus on your organization's complete financial health through effective reporting and data analysis.
A multihospital system decides to use advanced forecasting methods to determine the upcoming year's charity write-offs and realign targets for its community benefits goals.
When comparing a hospital's labor productivity with that of peer hospitals, finance leaders should keep in mind some limitations of the most widely used metrics.
The clinic visit HCPCS code compression will undoubtedly result in potential winners and losers. Each hospital needs to determine which category it falls into and take appropriate action.
Sentara Healthcare shares its finance team's approach for identifying opportunities to implement cost-cutting strategies, using reporting and analytics combined with budgeting and costing data--without terminating staff positions.
Brian Kueppers, founder and CEO, Apex, discusses the importance of a robust patient payment strategy in boosting organization revenue and enhancing patient satisfaction.
Brian Grazzini, CFO, HealthPort, describes the importance of efficient and compliant information exchange and audit management in helping HIM staff spend less time on paperwork and more on mission-critical projects.
Cindy Matthews, executive vice president, Community Hospital Corporation, discusses how rural and community hospitals can use collaborative partnering to position for success through tough market conditions.
Rick Heise, senior vice president, revenue cycle, at Cerner Corporation, discusses the importance of integrating clinical and financial data to excel in health care’s changing payment environment.
Dale Hockel, senior vice president of operations, and Jim Fanelli, CFO, TriMedx, share strategies for elevating clinical engineering through innovative management programs.
Russ Graney, founder and CEO for Aidin, and John Laursen, head of business development for Aidin, share insights on how to improve care transitions between acute and post-acute care settings and incentivize high-quality patient outcomes.
Scott Elston, strategic accounts manager, GE Healthcare Services, describes how substantial cost reduction in health care requires rethinking business strategy and asset use.
Robert Williams, MD, director, Deloitte Consulting LLP, and Arielle Freiberger, product strategist, ConvergeHEALTH by Deloitte, explain how sophisticated retrospective, real-time, and predictive data analytics can inform decision making to reduce costs and improve care.
Stuart Hanson, director of business development (healthcare solutions) at Citi Retail Services, discusses how improving the payment experience can benefit consumers and healthcare providers.
Scott Schmidt, vice president, Cerner RevWorks, LLC, shares insights on best practices for maximizing a revenue cycle management partnership.
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