Empowering frontline staff drives efficiency gains in Michigan hospital
A hospital in southeast Michigan was able to improve quality and efficiency while maintaining low commercial rates by empowering staff to identify and implement process improvements, which could be a model for other hospitals facing Medicaid cuts.
Health systems face margin cuts of up to 13 percentage points in next 5 years, McKinsey analysis shows
A combination of federal policy changes and industry trends could cut health systems' margins by up to 13 percentage points in the next five years, according to a McKinsey analysis.
States prioritize workforce initiatives in $25 billion rural grant proposals
All states have submitted applications for the Rural Health Transformation Program (RHTP) grants, with the most common use of funds being for workforce initiatives, and CMS will allocate the funds based on specific spending approaches proposed by states in their applications.
Hospitals brace for Medicaid cuts, some resort to layoffs
Hospitals and health systems are responding to the OBBBA cuts by reducing staff and increasing revenue, while some are also pursuing mergers and acquisitions to improve efficiency and balance their budgets.
FastFinance: OPPS; hospital efficiency
HFMA’s FastFinance newsletter is now a podcast. Host Rich Daly discusses the most current and relevant healthcare news, delivered in an easily digestible format. Former hospital executives detail an approach that helped their organization improve quality while obtaining average commercial rates of 150% of Medicare. The former executives now offer other hospitals insights on their…
Rural hospitals face significant payment disparities compared to urban hospitals
Rural hospitals are reimbursed 20% less than urban hospitals, with the gap widening as hospitals become more rural, according to a new analysis of price transparency data from over 5,000 U.S. hospitals.
Employers turn to direct contracting as hospital costs continue to rise
The Purchaser Business Group on Health (PBGH) has developed a data tool that combines price, quality, and safety data to help employers make informed decisions about direct contracting with hospitals, potentially saving them 10-60% of their healthcare costs.
CFOs see AI innovation officer as key role in healthcare leadership
CFOs of hospitals and health systems are prioritizing the development of AI capabilities in the C-suite, with the chief AI innovation or implementation officer being seen as the most important role, and cost containment and cybersecurity being the areas where CFOs feel the most prepared.
FastFinance: The latest direct contracting push
HFMA’s FastFinance newsletter is now a podcast. Host Rich Daly discusses the most current and relevant healthcare news, delivered in an easily digestible format. Employers have a new data source that combines price, quality and safety data and was expected to fuel a renewed push on direct contracting. Also, this week’s Weird Number: 30%. Fewer…
California hospitals sue to stop state cost control board’s spending caps
The California Hospital Association filed a lawsuit against the California Office of Health Care Affordability (OHCA) to stop spending tracking that would produce "potentially substantial monetary penalties" by 2028, arguing that the OHCA ignored key factors that drive hospital spending and failed to consider inflation, demographic factors, and other costs.