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News Briefs: Providers face trying times  in the first month after the Change Healthcare cyberattack  

Healthcare providers struggled financially and operationally in the first 30 days after a Feb. 21 cyberattack forced the shutdown of Change Healthcare’s claims submission and payment systems, among more than  100 other applications.  As of the week of March 18, parent company UnitedHealth Group had restored Change Healthcare’s payment platform and was reporting progress in…

Nick Hut March 30, 2024

How to keep your balance sheet steady in tumultuous times

The balance sheet contributes significantly to cash flow at most not-for-profit (NFP) hospitals and health systems. Yet few organizations have developed a strategy that reflects the balance sheet’s contributions to financial sustainability. Throughout the operational and financial turmoil of the past few years, many health systems have relied on their balance sheet to compensate for…

Robert Turner March 30, 2024

How providers can optimize payer contract negotiations

Negotiating payer contracts can be both challenging and frustrating. Payers have significant leverage at the bargaining table, enhanced by payer consolidations and the emergence of dominant local, regional and national plans. But by adopting a transparent data-driven strategy in negotiations with a payer, a provider organization can create an opportunity for building a strong partnership…

Scott G. Ellsworth, MBA March 29, 2024

Grace-Marie Turner: How to advocate for enlightened healthcare policy  

Managing the finances of our nation’s hospitals and health systems is a task whose complexity is little understood by those outside the profession. Beyond being adept at managing complex healthcare financial matters, leaders also must focus intently on ensuring their organizations are delivering high-quality, cost-effective care. In addition to this knowledge and skill, finance leaders…

Grace-Marie Turner March 29, 2024

HFMA members step into new leadership roles in healthcare finance 

Several HFMA members have kicked off 2024 by taking on new healthcare finance leadership roles. Here’s an overview of some of the hirings announced during the first quarter of the year.  John Ceelen is the new CFO at Bellin and Gundersen  The recently merged Bellin and Gundersen Health System in Green Bay, Wis., has tapped…

Crystal Milazzo March 29, 2024

Joshua Corman unpacks the consequences of the Change Healthcare cyberattack on an HFMA podcast episode 

The February cyberattack on Change Healthcare, a unit of UnitedHealth Group, continues to cause concern and frustration for providers.a The March 25 episode of HFMA’s “Voices in Healthcare Finance” podcast featured an interview about the long-term effects with Joshua Corman, founder of I Am the Cavalry, an organization focused on cybersecurity, and former chief strategist for…

Erika Grotto March 29, 2024

Dennis Dahlen: Of Blackcats and the dark web: The value of HFMA in times of crisis 

The repercussions from the large-scale cyberattack perpetrated by ALPHV Blackcat on Change Healthcare — a company that touches one out of three patient records — likely will be felt for months, the American Hospital Association (AHA) suggests. That’s why it was so important that HFMA take a lead role in getting answers for members and…

Dennis E. Dahlen, FHFMA, MBA, CPA March 29, 2024

Georgia Chapter engages new members via a webinar series 

Education is the cornerstone of HFMA’s Georgia Chapter. So it’s no surprise that members can’t seem to get enough of the Chapter’s robust educational programming. In fact, they’ve asked for even more — more topics, more opportunities and more ways to access content. In response, the Chapter added another layer to its already strong educational…

Crystal Milazzo March 29, 2024

Battle of the Bots: As payers use AI to drive denials higher, providers fight back

Two fighters face each other in the ring, circling together, assuming there will be a single victor.   One, representing the U.S. health insurance industry, has made huge investments in aggressive technology over the past several years to automate claim processing and reviews, making it hard for the other fighter — representing the nation’s healthcare providers…

Jeni Williams March 28, 2024

Jill Geisler: Make sure your written communication hits the mark

The best leaders are good communicators, whether speaking or writing. That’s why it’s important to periodically assess how well you’re performing in this area. My last column offered tips to improve your presentations. This one is designed to help upgrade your writing game, focusing on memos, email and social media. 1 Maximize memo impact Whether…

Jill Geisler March 28, 2024
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