Q&A: Value-Based Payment Models Require New Workforce Approaches
Newer models provide an opportunity to use staffing strategies to fill in care gaps in a way that enhances healthcare quality, leaders say.
How Diversity in Executive Teams Contributes to Financial Success
Organizations with high levels of diversity and inclusion perform better on key business metrics, according to a new report and the experiences of health system leaders.
Value-Based Care Requires More Versatile Talent
As the lines between health plans and providers blur in today’s integrated healthcare organizations, leaders recognize the benefits of sharing and developing talent across traditional organizational and industry boundaries.
Healthcare Finance Literacy: a New Workforce Competency
Given that finance is integral to every decision that is made in healthcare organizations today, everyone on the team should have a basic understanding of healthcare finance.
Another Innovative Strategy: Create Your Own Drug Company
The primary goal of Intermountain Healthcare’s not-for-profit generic drug company is to help patients by eliminating drug shortages.
Level of Costing Detail in Aurora’s System
Aurora Health Care developed detailed categories for its cost accounting initiative by considering the future and estimating how health system leaders would want to use the data in the future.
How Innovation Can Start with Value Analysis … But Often Doesn’t
Value analysis committee ROI calculations must look beyond the immediate economic costs of payment, cost-per-procedure, and cost of labor to consider overall value to hospitals. For example, questions to ask include, “How does a new product help to reduce the overall cost of care?” and “Are there complications and readmissions that typically arise beyond 30 days that the new product aims to minimize?”
Overcoming Missed Opportunities with Forward-Thinking VACs
VACs can be influential forces in infusing greater quality and cost controls over departmental purchases.
Outpatient Coding Conundrums
When the codes on claims submitted by surgeons and outpatient surgery centers are not in agreement, one or both claims may be denied.
Taking Steps Toward Improved Customer Experience
The study reveals that patients feel as obligated to pay their healthcare providers as they do other professional services; however, their understanding of what they owe, when they owe it, and their options to pay are far less clear.