Enterprise Risk Management

Lessons learned from the Change experience

As is now well known, Change Healthcare, a 2022 acquisition by UnitedHealth Group (UHG), was hacked this past February. For nine days, hackers were able to gain access to and maneuver through Change Healthcare’s files at will before it became clear that the system had been compromised. According to a report from the Congressional Research…

Gail R Wilensky, PhD June 2, 2024

What to expect when a consultant call-in report is required

Amid today’s difficult operating environment, some organizations face the prospect of breaching covenants in their master trust indenture (MTI) or bank loan documents, particularly covenant requirements for debt service coverage or days cash on hand. In the event of a breach, management is typically required to hire an independent consultant to identify areas for financial…

Sarah Dawkins August 25, 2023

4 points healthcare leaders should consider in their cyberinsurance calculus

In spring of 2023, two ransomware groups, Cl0p (or CLOP, per the U.S. Cybersecurity & Infrastructure Agency) and LockBit, attacked 130 organizations in the United States, many of them in healthcare.a Fortunately for healthcare organizations with cybersecurity insurance, those breaches would have been eligible for coverage. Yet the same may not have been true for…

Matt Murren July 19, 2023

Healthcare News of Note: 3 factors increase the likelihood that a physician has been sued

Some46.8% of physicians over the age of 54 report they have been sued compared to 9.5% of physicians under the age of 40. The revenue cycle management segment accounted for the largest revenue share in the global healthcare finance solutions market in 2022. Greater representation of Black primary care physicians (PCPs) in the PCP workforce…

Deborah Filipek May 26, 2023

Robert Turner: Avoiding a bond covenant default takes aggressive action from a health system borrower

Not-for-profit hospitals and health systems have faced an increasingly difficult operating environment since inflation began to grow in mid-2021. Last year was particularly hard, beginning with a new wave of COVID-19 infections caused by the omicron variant, and followed by mounting expenses, staffing shortages, rising interest rates and investment losses. As a result, Kaufman Hall…

Robert Turner March 30, 2023

David Johnson: Why healthcare’s cupboard is bare — its funding gravy train has run out of steam

Gravy train is a railroad term that originated in the early 1900s. It described a well-paid train run that didn’t require much effort. In modern parlance, speakers use it to describe easy-to-do tasks and cushy situations. The problem with gravy trains is that riding them too long engenders lazy, sloppy and wasteful behaviors. New York…

David W. Johnson March 16, 2023

Bank failures highlight importance of measuring counterparty risk

The recent failures of Silicon Valley Bank and Signature Bank have focused attention on an often-overlooked issue: bank counterparty risk. From a treasurer’s perspective, banks are much more than account-holding institutions. They provide an array of critical payment and collection services, and the impact of losing access to these services cannot be overstated. The Federal…

Zech Decker March 16, 2023

Healthcare M&A: Are you prepared for the pitfalls?

Leaders of hospitals and health systems whose organizations are embarking on a merger or acquisition should be prepared to avoid the many potential pitfalls associated with such an strategic venture.

Eric C. Reese, PhD December 2, 2022

Healthcare News of Note: More Office for Civil Rights funding could boost HIPAA enforcement

Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Cybercrime against healthcare organizations overwhelms the federal Office for Civil Rights, the cost of health inequities could reach $1 trillion, and primary care physicians need more hours in the day to provide recommended care.

Deborah Filipek September 2, 2022

Paul Keckley: Inflation’s impact on healthcare: 5 takeaways

For healthcare finance professionals, healthcare inflation requires intensified efforts to address five concerns: increased bad debt, increased operating costs, heightened public scrutiny of pricing policies and executive compensation, increased competition by privately funded competitors offering low-cost solutions and growth of “Occupy Healthcare” movements.

Paul H. Keckley, PhD April 26, 2022
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