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).
Winning Strategies to Transform Health Care in 2019
Healthcare providers should keep certain best practices in mind when choosing new technology in 2019.
Patient-Level Costing and Profitability: Making It Work
Healthcare providers can use patient-level costing to obtain accurate costing information.
5 Ways to Boost Billing Capabilities for Transitional Care Management
Samantha Sizemore shares tips for success in transitional care management.
Using a Lab Formulary to Improve Value
In an effort to improve the value of the care it delivers, Vanderbilt University Medical Center uses a multidisciplinary committee to determine which lab tests to make available to providers.
Behavioral Economics: A New Approach to Healthcare Improvement
Behavioral economics goes beyond information sharing and financial incentives to give providers tools that can nudge both patients and clinicians to make beneficial healthcare decisions.
Pressure Ulcer Prevention Can Save Costs
Pressure ulcer treatment can be as high as $150,000 and can add approximately $40,000 to a hospital stay.
Mercy Saves Millions in the OR Through Standardization and Automation
Surgeons from Mercy’s 41 hospitals worked with perioperative directors to reduce costly physician preference items. The health system also used an inventory management system to improve charge capture and eliminate time-wasting manual processes. Overall, Mercy has cut its supply costs by $3.6 million in 12 months.
7 Focus Areas for Reducing Healthcare Expenses
Healthcare providers should focus on seven areas to control costs and maximize savings while continuing to deliver high-quality patient care.
Hospital Saves $49M by Engaging Department Leaders
Small-scale projects to reduce waste and improve efficiency can add up to boost hospital bottom lines. The key is tapping leaders’ knowledge of what processes need to change.