Cost Reduction

Addressing U.S. healthcare system challenges requires a focus on improving health, not just care

If we are to effectively address the huge cost challenges facing the U.S. health system, we must begin to better address the cost effectiveness of health, says Todd Nelson, HFMA’s director of professional practice and partner relationships. And it has to be through a collaborative process involving all stakeholders, he says, including not just hospitals and health systems, physicians and health plans but also patients and their communities, as well as society overall.

Eric C. Reese, PhD October 22, 2021

Study shows reduction in hospital readmissions, costs for medically complex patients seen in an outpatient critical care transition clinic

In a recent study, a large group of patients with medically complex chronic conditions were referred to and seen at an Indianapolis-based outpatient critical care transition clinic saw fewer posthospital inpatient admissions and realized decreased costs of care when compared with those who were referred but did not attend the clinic. HFMA’s Shawn Stack provided insight into the importance of the study.

Deborah Filipek October 22, 2021

Autonomous coding, it won’t hurt a bit with CodaMetrix

Coding at hospitals and health systems can take hours each day and can cost up to $7 billion in one year. However, one company encourages its use of artificial intelligence technology to reduce both cost and time of coding.

HFMA September 30, 2021

Survey: Hospitals and health systems prioritize automation technology and cybersecurity to battle pandemic

Most hospitals and health systems have yet to fully utilize automation technology, per an HFMA survey. Based on this research, one company broke down key takeaways such as top priorities for reduced spending including supply chain, IT and revenue cycle management.

HFMA August 26, 2021

Pandemic era requires flexible revenue cycle solutions

Learn how one company’s enterprise revenue cycle management solution delivers operational success for customers.

HFMA August 24, 2021

How a dashboard and an 8-step process helped a hospital slash drug costs

Penn-Presbyterian Medical Center reduced its cost for anesthesia medications by creating a dashboard to assess usage patterns and using a change management process to encourage providers to embrace improvement opportunities.

Mark-Alan Pizzini, MD August 16, 2021

Moving a 340B covered entity’s pharmacy enterprise to an LLC may prove beneficial, but it requires a feasibility study

University of Utah Hospitals and Clinics (UUHC) in Salt Lake City performed research to assess the feasibility of moving its 340B covered-entity pharmacy enterprise to a Limited Liability Corporation (LLC), with a focus on risks that should be factored into the decision. Other organizations that are considering such a move could benefit from adopting UUHC’s assessment approach.

Nathan Hagen, PharmD, MS July 21, 2021

Why success in cost reduction is a matter of trust

According to a survey, healthcare organizations that discuss cost reduction with clinicians more often are better prepared to achieve cost-reduction goals. Find out what approaches can restore trust for a better bottom line in this research report.

HFMA June 2, 2021

New research suggests there’s no need to worry that patient experience surveys lead to low-value healthcare

Findings from a new study may assuage concerns that low-value care is encouraged through the use of patient experience ratings in payment formulas.

Nick Hut June 1, 2021

Atlas Health: Helping healthcare providers offer patients philanthropic financial assistance

Learn how one company uses a database of more than 10,000 philanthropic programs to tap into funds available for patient medical costs associated with care for chronic diseases, rare conditions or high-cost therapies.

HFMA April 28, 2021
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