Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Business Partners
Health Plans
Hospitals and Other Providers
Physicians and Other Practitioners

Career level:

Executive
Experienced Professional
Mid-Senior

Recommended for:

Business Operations
Clinical Operations
Clinically Integrated Network
Healthcare Supply Chain
Physician Practice

Delivery Method:

Self Study

Advance Preparation:

None

Prerequisites:

Experienced leaders whom could innovate and execute bold strategies

Course Availability:

1 Year

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Blog | Coronavirus
HHS says the CARES Act Provider Relief Funds need to be used by July 31, 2021, but Chad Mulvany says operationally, funds likely need to be spent by June 30, 2021, so providers can capture expenses and lost revenue in reports due to HHS Jul...
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On Demand Webinar | Advanced | Coronavirus

Lehigh Valley Health Network: COVID-19 financial impact and road to recovery

On Demand Webinar | Advanced | Coronavirus

Lehigh Valley Health Network: COVID-19 financial impact and road to recovery

Description

Lehigh Valley Health Network (LVHN) is a 9-hospital health system in Northern PA, a hot zone for COVID-19.  The financial/operational impact of the pandemic, as well as medical sheltering requirements, created many unforeseen operational and financial challenges forLVHN.

Learn firsthand from LVHN EVP/CFO Thomas Marchozzi, about how the system is addressing its cash flow, lost revenues and lost volume challenges, which resulted in cash flow swings measured in the hundreds of millions. Also, learn what some of LVHN's key respond, recover, restore and revitalize strategies have been to date to return to operational/financial stability. This webinar will highlight how LVHN initially prepared for the surge in COVID-19 patients and the subsequent steps taken to respond to the organizational impact of the pandemic, including many of the difficult choices LVHN had to make to reduce expenses, mitigate future risks and improve EBIDA across enterprise.

Live Original Webinar Date: 7/20/20
After this program, you'll be able to..
  • Understand the financial, operational and patient care impact of the COVID-19 surge on health system operations and financial sustainability.
  • Learn about the areas of network clinical operations most impacted by the pandemic and how in the aftermath, it created and opportunity for LVHN to pursue bold strategies to redesign clinical, operational and financial models to mitigate future risks from another pantrademic disaster.
  • Gain insights into strategies to pursue every dollar from every source to recover restore and revitalize a health system for the "new normal."
  • Discuss why the healthcare industry and federal/state policy makers need a different set of solutions beyond medical sheltering/stop all electives approaches, in the event of a second pandemic wave.

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Relying on aggressive financial policies and collection tactics won't help your organization adapt to the "patient as payer" model, especially after the pandemic.  Instead, you need a strategy that helps patients easily navigate the financial responsibilities associated with their care.

This webinar will reveal new survey data from patients and healthcare providers about the challenges associated with medical billing and payments, including how they have been impacted by COVID-19. With these timely insights, attendees can pinpoint and execute on opportunities to improve the patient financial experience and enhance revenue cycle performance.  Presenters will discuss strategies, like fine-tuning financial policies and offering patients a single, simplified view of their financial responsibility to reduce confusion and high call volume. Attendees can then apply these best practices within their own organization.

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