hfm Magazine: January 2019
Cover Story Psychology and Behavioral Change Theory as Applied to Changing Revenue Cycle Payment Models Healthcare providers should consider a retail-like payment experience for patients. By Rajesh Voddiraju Web Exclusives Using Ambulatory Pricing Strategically to Protect and Grow Market Share An increasing regulatory focus on price transparency also is an impetus for hospitals and health…
Mercy Saves Millions in the OR Through Standardization and Automation
Surgeons from Mercy’s 41 hospitals worked with perioperative directors to reduce costly physician preference items. The health system also used an inventory management system to improve charge capture and eliminate time-wasting manual processes. Overall, Mercy has cut its supply costs by $3.6 million in 12 months.
7 Focus Areas for Reducing Healthcare Expenses
Healthcare providers should focus on seven areas to control costs and maximize savings while continuing to deliver high-quality patient care.
Hospital Saves $49M by Engaging Department Leaders
Small-scale projects to reduce waste and improve efficiency can add up to boost hospital bottom lines. The key is tapping leaders’ knowledge of what processes need to change.
Purchased Services Contracting for Employed Physician Practices Cuts Cost, Improves Service
Piedmont Healthcare saved almost $90,000 for its employed physician practices by securing a purchased services contract for after-hours answering services.
Hospitals Lead Healthcare Price Growth Plunge
Nov. 19—An unusual slump in hospital price increases—especially among commercial health plans—has pulled down overall healthcare price increases, according to a recent analysis.
A New Approach to Curtailing Pharmacy Costs
In an effort to improve the availability and value of treatments that are available to patients, major health systems have banded together to form a new company that will produce generic drugs.
Sidebar: Additional Strategies for Managing the Drug Cost Problem
In an effort to improve the availability and value of treatments that are available to patients, major health systems have banded together to form a new company that will produce generic drugs.
A Growing Health System Contains Costs Through Outsourcing
Methodist Health System wanted to manage and maintain its facilities more efficiently after more than a decade of expansion. Improved contracting practices saved $250,000 in the first several months.
Hospitals Are Using Cost Reduction to Trim Patient Charges
The healthcare industry has undergone a major decrease in average annual charge growth. Hospitals at the lowest end of the charge growth spectrum are using cost reduction to slow the level of charge change.