Regional Hospital’s Focus on Rapid Results Reaps $6M in Savings
Henry Ford West Bloomfield uses 100-day productivity cycles to improve operations and reduce waste. Over a three-year period, the hospital saved $8.7 million contributing to a financial performance turnaround.
Using Business Intelligence to Succeed in Value-Based Care
Gain buy in for value-based care by picking a few key areas to cost and monitor. A few easy wins builds momentum and confidence across a healthcare organization.
Amid Full Employment, Hospitals Keep Hiring
Sept. 7—Hospitals, like much of health care, continued their steady hiring streak in August, even as the pool of potential new hires appeared almost dry.
Repurposing TDABC: Case Examples from a New York Hospital
Time-driven activity-based costing principles provide an excellent basis for helping healthcare organizations identify opportunities for improving their operations.
HFMA Executive Survey: Labor Management Trends
This 2018 HFMA survey sponsored by Navigant indicates healthcare executives anticipate both labor cost increases and staffing shortages over the next 12 months.
Advanced Analytics Must Drive the Next Round of Productivity Initiatives
To achieve the next round of cost-reduction goals facing hospitals, care delivery models that use a different mix and quantity of healthcare professionals must be put in place. Supported by advanced analytics and statistical modeling, hospital leadership can demonstrate how fewer labor hours and lower total costs can deliver consistent and excellent clinical outcomes.
NewYork-Presbyterian Curbs Costs with a Structured Redesign Approach
By pairing project management professionals with operational leaders on key initiatives, the organization achieved $96 million in cost savings in 2017 while maintaining high-quality care.
Cost Accounting Evolves as Provider Needs Change
Organizations can use their current data to understand what it truly costs to deliver healthcare services. Using existing data and automating the pull of that data also allows for less human intervention to maintain cost accounting models.
Offshore Versus Domestic Outsourced Coding Services: A Comparative Assessment
Although offshore outsourced medical record coding services are widely believed to a cost-effective outsourcing option, a recent study identified concerns that healthcare providers considering this option should address before moving forward.
Healthcare Workforce Shortage Worsening: Senators
May 22—Senators said this week that they are convinced a healthcare workforce shortage is worsening and federal action is needed to address it.