Mystery Markups: Medical Supply and Drug Pricing Policies Vary Across Hospitals
Hospital markup policies that set prices for medical supplies and pharmaceuticals can vary significantly across the country, leading to large variances in drug and supply charges.
Using Physician Assistants Can Save Costs
Healthcare executives responding to a recent survey overwhelming agree that transforming costs is a “significant” or “very significant” need, but more than 50 percent have no cost reduction targets for the next five years or have a goal of 1-5 percent—a range that is far below what will be required to transform cost structures.
New Survey Finds Current Cost Transformation Initiatives Lack Required Urgency
Healthcare executives responding to a recent survey overwhelming agree that transforming costs is a “significant” or “very significant” need, but more than 50 percent have no cost reduction targets for the next five years or have a goal of 1-5 percent—a range that is far below what will be required to transform cost structures.
Striving for Cost Optimization Instead of Cost Cutting
Cost optimization involves more than cutting a set percentage from the traditional targets, such as labor, real estate, or IT. Cost optimization is an enterprisewide effort, requiring leaders to reset their operational strategies and align with value-based payment models.
Charging Appropriately for Emergency Department Visits
To determine a fair charge for an emergency department visit, a hospital or health system must separate its costs into three categories.
A Physician’s Guide to Financial Management Basics
Being able to analyze an income statement can help physician leaders identify what actions to take when variances occur. Similarly, knowing how to make a business case can help physician leaders secure staff or equipment they may need for a particular initiative.
Critical Drivers of Payment Differentials
Increases in hospital payment have not kept pace with general inflation. Healthcare leaders can isolate areas that help maintain or improve current performance.
A Data-Driven Approach to Improving Clinical Care and Reducing Costs
The experiences of two health systems provide insight into how healthcare providers can use advanced data analytics to sustainably improve patient outcomes and reduce costs.
Charging Appropriately for Emergency Department Visits
To determine a fair charge for an emergency department visit, a hospital or health system must separate its costs into three categories.
Ask the Experts: Developing a Bundled Payment Team
Who are the main players within finance and other departments who are typically involved in developing bundled payments?