Hospitals require a 3-pronged response to potential covenant violations
Reworking cost structure and enhancing revenue performance are foundational parts of a holistic solution for most healthcare organizations facing balance sheet challenges and covenant violations as a result of the COVID-19 crisis.
Why now is the time to revisit your strategic facility investment plan
After undertaking dramatic changes in operations to address the COVID-10 pandemic, U.S. hospitals and health systems need to begin planning for the restart of normal operations over the next few months as well as for their long-term futures.
Elective surgery does not mean optional surgery: How to recover from the impact of canceled procedures
Lessons health systems have learned because of the COVID-19 pandemic will provide the building blocks to the recovery, including the return of “elective” procedures, many of which are vitally important to patients’ well-being.
Rolling forecasting will help get hospitals through the COVID-19 crisis
The upheaval hospitals and health systems are experiencing as a result of the COVID-19 pandemic has made traditional annual budgeting processes inadequate. Organizations should consider adopting instead a budgeting process based on rolling forecasting.
Guest commentary: COVID-19 allows no time for hesitation among healthcare finance professionals
Kaufman Hall's managing director and chair, Ken Kaufman, says leaders of healthcare provider organizations must act now with speed and sophistication to develop the financial foundation for an effective COVID-19 recovery.
6 major long-term implications for the nation’s healthcare system post-COVID-19
The COVID-19 pandemic’s impact on the nation has historical implications. Among the various national responses, we likely will see investments in strengthening hospitals’ abilities to deploy temporary facilities, draw upon backup staffing and build stockpiles of key items.
The coronavirus launches providers into new world of virtual healthcare
The new focus on virtual healthcare in the post-COVID-19 world will bring about an unprecedented industry transformation.
Will the CARES Act actually reduce hospital financial stresses?
The COVID-19 crisis raises important questions for the U.S., including how it should prepare for the inevitable occurence of other potential serious pandemics in the future.
4 steps to help healthcare organizations plan for operating in a post-COVID-19 environment
To survive the current COVID-19 crisis and to thrive in the uncertain future that follows, healthcare organizations must take steps to prepare for and meet the full range of risks presented by the pandemic.
How CFOs can protect patients and clinicians during the COVID-19 pandemic
Marcus Schabacker, MD, PhD, president and CEO of ECRI, offers advice to healthcare CFOs on how they can help ease the burden on clinicians in the ongoing battle against COVID-19.