Advanced cost accounting: An organization's journey to Level 7 costing
Healthcare providers have little to no access to accurate, comprehensive, and actionable information on the cost of care. While hospitals and health systems represents roughly $2 trillion of the annual spend on U.S. healthcare, close to 30% area operating at a loss. As healthcare organizations face the challenge of reducing variation, waste and inefficiency to invest in higher value care, they need access to data and methodologies that can help them. Baptist Health began the journey to and cost accounting using the HFMA-Strata 7 Cost Accounting Adoption Model as their roadmap. In this session, discover how Baptist Health developed more sophisticated advanced processes and workflows to increase the accuracy and accessibility of their cost data... and achieve more meaningful, accurate financial output.
Intelligent surgery & the use of data to drive alignment throughout Banner Health's robotics service line
Currently facing health care organizations are the challenges of reducing the total cost to treat patients. Through data, executives may be able to demonstrate that a well-coordinated robotics service line has the potential to reduce clinical, financial, and operational variation.
This webinar will help you identify the practical metrics needed to evaluate surgical performance within your own hospitals. We will share insights in using data correctly to potentially drive positive clinical and economic outcomes. In addition, we will provide the tools to support you in the identification of best practices, standardization in the operating room, and enable you to discover areas of optimization for your robotics program.
Realizing your return on analytics
The Healthcare Financial Management Association (HFMA) and the American Association for Physician Leadership (AAPL) are honored to collaborate to provide education and experiences that bring together clinical and financial leaders in healthcare. Attend the upcoming webinar series, sponsored by Kaufman Hall, on Improving Clinical and Financial Outcomes in Healthcare Organizations. This webinar series is available to HFMA and AAPL members at no cost.
Generating data alone does not bring clarity. A healthcare organization's ability to sustain high-value care delivery and ensure its long-term strategic financial viability increasingly depends on how effectively it can apply data analytics to inform improvement efforts related to quality, cost, and patient experience.
At the most basic level, the purpose of analytics is to get the right information to the right people to help them make the right decisions. During this webinar, we will review a framework and share examples of how hospitals and health system can progress from identifying strategic opportunities to executing solutions that achieve each opportunity's full potential and deliver the expected return on analytics.
Costing for the masses
CHRISTUS began an initiative to address the need for accurate, actionable cost information that could inform the organization's understanding of true cost across episodes of care, service lines, and patient populations. Over the past 14 months, CHRISTUS has engaged and trained over 140 RVU managers and 60 active reporting users to be part of this new costing initiative. Managing a large user base comes with its own set of challenges, including maintaining data integrity, improving user base acumen, providing training, reducing redundant requests, and getting buy-in from clinical operators. With a creative approach, CHRISTUS has driven new, thoughtful best practices and processes. The organization has successfully established a new, reliable data governance structure, empowering cross-organizational audiences like supply chain and clinical leaders to champion the data. By implementing this initiative, CHRISTUS has connected data to users who need it, enabling true costing for the masses.