Revenue and Cost Pressures Research Summary
HFMA, with sponsorship from Humana, surveyed 166 healthcare executives to reveal key areas for managing costs of care, operational performance, and risk. To learn more, download the key findings from the survey.
How academic medical centers can foster greater alignment to advance strategic goals
The highly complex funds flow and diverse partnership structures of today’s academic medical centers (AMCs) make it difficult for leaders to align on important financial decisions. However, the evolution to value-based care and ongoing revenue challenges have inspired them to consider new approaches. As activity within AMCs continue to evolve, CFOs will play an important…
AI in healthcare: Boosting efficiency and addressing burnout
Most (90%) healthcare executives say that digital and AI transformation is a top priority, according to McKinsey research. While generative AI may have a number of uses across the healthcare system, its potential to enhance efficiency, effectiveness and alleviate burnout among healthcare professionals may be one of its most valuable uses for reshaping patient care.…
Premier’s ERP solution addresses unique needs of the healthcare industry
How do you help healthcare organizations navigate the biggest challenges in healthcare? Premier provides a truly healthcare-native, enterprise resource planning (ERP) cloud-based SaaS solution, integrating supply chain, contract management, financial reporting and human resources (HR) capabilities end-to-end. Unlike traditional ERPs built to support multiple industries, Premier’s solution addresses healthcare’s unique needs as follows. When issues…
How pre-bill automation positively affects efficiency and financial outcomes
Eighty-four percent of health systems report that lower reimbursement from payers is a top cause of low operational margins, according to an HFMA survey. Hospital revenue cycle leaders understand that not only are reimbursements lower, but if there are any errors or inefficiencies in coding bills that can also lengthen the process of getting paid.…
Healthcare’s leadership challenge: balancing immediate needs with future readiness
Amid rising financial challenges and pressures to maintain high standards of care, a survey of healthcare finance professionals suggests leaders are more focused on directing resources toward financial sustainability strategies and compliance than innovation. The findings raise concern that leaders are overemphasizing financial viability and regulatory compliance over investments that could transform care delivery and…
Revenue cycle leaders: How they optimized financial performance for outpatient and ancillary services
Over the last decade, outpatient and ancillary services have typically yielded high profit margins for healthcare organizations. However, today’s organizations cannot ignore consumers’ demand for low-cost, high-quality care. This, coupled with inflation and, per updated Peterson-KFF data, an increase in the cost of hospital outpatient services by 8.3% specifically, has opened the door for lower-cost…
How healthcare leaders can automate workflows and improve financial performance
1. How do you help healthcare organizations navigate the biggest challenges in healthcare? Sage Intacct allows healthcare finance leaders to eliminate manual processes, automate workflows and improve financial performance across the organization. Sage enables multi-entity healthcare organizations to consolidate hundreds of entities in minutes. Not only does this simplify intercompany accounting, but it can also…
How regulatory shifts are shaping the future of revenue cycle operations
The healthcare industry is set for a major transformation, driven by government policies, legislative reforms, insurance updates and a continuous evolution of compliance and privacy standards that impact revenue cycle management (RCM). These developments present both challenges and opportunities for RCM teams but embracing them is crucial for healthcare organizations to thrive. Key regulatory changes…
The strategic role of revenue cycle management in battling rising healthcare costs
Healthcare organizations are facing unprecedented operating costs, largely driven by labor and inflation. According to the American Hospital Association (AHA), “Persistent workforce shortages, severe fractures in the supply chain for drugs and supplies and high levels of inflation have collectively fueled hospitals’ costs.” The AHA also emphasized the challenges of “higher acuity care and deepening…