Healthcare Finance Trends for 2024

Download this eBook to see details of the 10 financial trends that will shape 2024 for hospitals and health systems across the country.

HFMA February 28, 2024

Brenda Chilman: A positive patient experience starts with the revenue cycle

Bookended by her first job at the CPA firm Arthur Andersen and her current job, 30+ years later, just down the road at SSM Health, Brenda Chilman has had a strong and far-flung career in healthcare finance. Her journey — which has taken her from St. Louis to Denver to Baltimore and, full circle, back…

Steven Berger, FHFMA February 23, 2024

Hospitals reached steadier ground financially as they moved into 2024

Hospitals came into 2024 with some financial momentum, even as expenses continued to rise and pivotal decisions loomed. The year-to-date median hospital operating margin reached 2.3% in December, the high mark for 2023 and the 10th consecutive month in which margins were positive, according to monthly data from Syntellis Performance Solutions, part of Strata Decision…

Nick Hut February 12, 2024

We all have trauma. Here’s how to take it to work in a healthy way.

Dr. Sadie Elisseou, a practicing VA physician and instructor at Harvard Medical School and Boston University School of Medicine, talks about trauma-informed healthcare in and out of the exam room.

Erika Grotto February 12, 2024

10 keys to restoring trust in healthcare: a summary

Note: This article was adapted from a report on HFMA’s 2023 Fall Thought Leadership Retreat. The full report is available for downloading. The issue of restoring consumer trust in the U.S. healthcare system encompasses a wide range of concerns. Factors in the perceived loss of trust include anxiety and confusion over costs, entrenched inequity, misinformation…

Nick Hut January 30, 2024

Sanford Health selects Scott Wooten as CFO  

Following a comprehensive national search, Sanford Health in Sioux Falls, South Dakota, has named Scott Wooten, MBA, FACHE, as executive vice president and CFO. Wooten is a seasoned finance leader in the nonprofit healthcare sector. Prior to joining Sanford, he led Wooten Strategic Advisors, providing consulting services to physician groups, health systems, insurance companies, retail…

Crystal Milazzo January 29, 2024

Jill Geisler: 8 proactive ways to keep your top performers engaged 

Here’s to the best performers on your team. Their high standards, reliability, creativity and problem-solving skills are a joy to behold. They’re your self-starters, your pacesetters, your go-to people — the ones who’d leave a big hole in the operation if you lost them.  And you surely don’t want to lose them. That’s why managers…

Jill Geisler January 29, 2024

Dennis Dahlen: New year, not-so-new struggles call for revamped approach

In January, 8,000 investors, innovators and market participants gathered in San Francisco for the J.P. Morgan Healthcare Conference. This gathering has become a required event for healthcare leaders to take stock of the industry. You could feel the pulse of the conference accelerate during key moments, like when comments from an FDA regulator led to…

Dennis E. Dahlen, FHFMA, MBA, CPA January 26, 2024

Alan Lovelace: Healthcare CFOs require stamina to respond to post-COVID pressure

What can modern hospital or health system CFOs do to keep their organizations on a stable financial footing in the financially fraught post-COVID-19 era? In answering this question, most CFOs will begin by telling horror stories and tales of woe involving revenue squeezes and expense proliferations. Pressures come from everywhere, including:  It’s tough being a…

Steven Berger, FHFMA January 25, 2024

Downgrades topple upgrades: 5 key takeaways from rating activity in 2023

As expected, 2023 saw a material increase in downgrades over 2022 while the number of upgrades declined from the prior year. Volume showed favorable growth for many hospitals during 2023, although some indicators remained below prepandemic levels. Other hospitals reported a payer mix shift toward more Medicare as the U.S. population continued to age and…

Lisa Goldstein January 25, 2024
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