HFMA strategy session highlights challenges and opportunities for healthcare finance leaders: payer relations, supply costs, AI and more
The legacy healthcare provider’s position in the industry could grow tenuous if leaders don’t respond boldly and strategically to ongoing trends, according to insights recently presented to HFMA leaders. “We’re at a crossroads right now,” Ashraf Shehata, principal and U.S. national sector leader for healthcare and life sciences with KPMG, said in November during a…
Leveraging investments to strengthen resilience: Key insights
The approach health systems take to balance sheet and treasury management varies significantly. One company's managing director dives into how organizations can take a balanced-scorecard method to investments using a tier system.
How healthcare organizations are tackling workforce issues in real time
Check out what a group of healthcare finance professionals said regarding workforce management issues including costs, candidate quality, contracting agencies and other issues that can impact a healthcare organization’s profitability in this roundtable discussion.
News Briefs: Medicaid DSH payment cut barely averted in September, still possible in November
Hospitals received a last-day reprieve from substantial cuts to Medicaid disproportionate share hospital (DSH) payments, with House leaders reversing course Sept. 30 and ushering through a six-week government funding package. Language in the bill ensured the start of a four-year Medicaid DSH cut amounting to $32 billion was pushed back from Oct. 1 to Nov.…
Amid positive signs financially, hospitals continue to grapple with high costs in labor and other areas
The latest financial metrics for the hospital sector reflect a period of increasing stability but also sustained challenges. August financial data from more than 1,300 hospitals, as reported by Syntellis Performance Solutions, showed improvements in key metrics. The month-over-month increase in median operating margin was 3.5 percentage points, helping the year-to-date margin rise to 1.4%…
Healthcare labor union activity gains steam: The consequences for hospitals and health systems
Note: The lead section of this article was updated Oct. 16 with news of a tentative agreement between Kaiser Permanente and the unions. When around 75,000 staff at Kaiser Permanente went on strike for three days starting Oct. 4, they represented more than just the largest-ever labor stoppage in the healthcare industry. They also exemplified…
Healthcare News of Note: Most nursing facilities are short staffed under CMS’s proposed long-term care rule, says KFF
Over the past few weeks, I have found these industry news stories that should be of interest to healthcare finance professionals. 1. CMS’s proposed rule puts nursing facilities in a tough spot Fewer than 1 in 5 nursing facilities would meet hours-per-resident-per-day (HPRD) provisions outlined in CMS’s new proposed rule for long-term care facilities, which…
Published data quantify how cost increases will continue to affect the healthcare industry next year
The cost to treat patients will accelerate next year, with ramifications across the healthcare industry, according to newly published projections. PwC’s Health Research Institute reported that the cost of providing care will increase by 7% in 2024, up from a 6% increase this year and 5.5% in 2022. A 7% increase would tie 2021 for…
Patient access: The key to a healthy revenue cycle
As hospitals and physician groups face ongoing labor shortages and skyrocketing costs, maintaining effective Patient Access processes is critical. Ensuring efficiency and accuracy upstream helps prevent delayed reimbursement downstream—while supporting a positive patient experience. Download this whitepaper to explore the three patient access processes that can help protect revenue and improve the patient experience. Identify…
How to staff smarter and reduce reliance on expensive travel contracts
To bridge the healthcare staffing gap and tackle workforce issues such as burnout, spikes in labor costs, and rising retirements among nurses, hospitals and healthcare facilities need a technology-driven approach that empowers staffing managers with the control needed to address fluctuating patient volume without understaffing or overspending on labor. This How-To guide highlights the challenges,…