The coronavirus and the healthcare supply chain: What hospitals need to know about N95 masks, drugs and devices
Hospitals should understand the potential supply chain disruption from the novel coronavirus and start taking steps to mitigate the impact.
Hospitals and physician practices generally achieve ‘moderately effective’ use of cost data, according to a survey, which also identified more effective approaches
Although many healthcare organizations say they have achieved middling results in their cost accounting efforts, that could improve through widespread adoption of approaches identified as most effective.
Analytics help create an integrated health system
For health systems that have gone through a period of growth, strong strategic financial planning, enhanced service line analytics, appropriate benchmarking, standardized costing practices, and rolling forecasting can help realize the efficiencies of scale that growth provides.
Focusing on facilities for sustainable cost savings
By implementing a campus consolidation, leaders at Boston Medical Center have saved millions of dollars per year on facility costs while substantially increasing patient volume.
Who Should Own a Healthcare Organization’s Cost Transformation Efforts?
To take costs out of the budget for good, organizations should establish cost reduction goals for leaders at every level. Why do so many hospitals’ cost transformation efforts get stuck after leaders have trimmed.
The Use of ABC for Indirect Expenses
There is a potential connection between the use of the idea of activities with respect to patient-level costing to activity-based costing (ABC) and its variant time-driven activity-based costing (TDABC).
Patient-Level Costing and Profitability: Making It Work
Healthcare providers can use patient-level costing to obtain accurate costing information.
Tipping the Scale: A Methodological Approach to Revenue Analysis
When acquiring a medical group, health systems should eschew blunt profit and loss statements in favor of more precise approaches, using market metrics to assess each site or specialty.
Cost Accounting: Bridging the Gap Between Where You Are and Where You Should Be
By creating a single source of truth, MultiCare aims to have coordinated oversight of all data, including security and design, and provide a consistent training curriculum for its finance team.
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.