40% of hospitals reconsidering traditional budgeting amid pandemic: HFMA poll
A n October 2020 HFMA survey, by Strata Decision Technology, found that the COVID-19 pandemic prompted many U.S. hospitals to consider moving from a traditional budgeting process to rolling forecasting, with one in five already having made the move.
Updated FEMA guidance notes availability of monetary assistance for COVID-19 vaccination activities
The Federal Emergency Management Agency has issued updated guidance on medical care and associated costs for which monetary assistance is available during the COVID-19 public health emergency.
Vaccine, vaccine, vaccine, vaccine: How Sanford Health System is communicating with patients about getting their shots
Matt Hocks from Sanford Health System describes his organization’s strategy for communicating with patients about the vaccination plan. Ken Baxter from Children’s Hospital of Orange County discusses the revenue cycle challenges of the pandemic. This episode was sponsored by Cerner.
Financial Analytics Leadership Council members share 5 challenges, responses to pandemic’s financial long haul
Financial leaders discuss how the pandemic has impacted revenue, volume and expenses, which has thus created a need for data and analytics.
Healthcare News of Note: Fewer patients translates to a small reduction in charity care spend for hospitals
Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles, including a reduction in charity care in 2020 due to fewer patients, a review of physician burnout and moral injury data, and what early adopters are doing to test 5G.
U.S. faces a challenging road to recovery after COVID-19
President Biden faces an enormous challenge in achieving his promise of distributing the COVID-19 vaccine nationwide and bringing the nation back to economic prosperity. Time will tell if the President can delive on that promise.
NFP hospital profitability plummeted in 2020 despite expense mitigation strategies, Moody’s reports
Profits were down in the not-for-profit and public healthcare sector in FY20, but management strategies helped to increase liquidity amid the COVID-19 pandemic.
News briefs: The new COVID-19 relief legislation could result in a big Medicare payment cut
The $1.9 trillion American Rescue Plan, which was signed into law March 11, could lead to a significant reduction in Medicare revenues if Congress does not act.
Survey responses provide snapshot of the toll of the COVID-19 pandemic on hospital finances
A government-issued report used survey responses from hospital administrators to examine the impact of the COVID-19 pandemic on hospitals in various aspects, including finances.
‘Do You Know What It Means to Miss New Orleans?’
HFMA Chair Mike Allen says if we take anything away from how the COVID-19 pandemic has kept us from seeing people and doing things we enjoy, it’s to truly appreciate and savor these precious moments in our lives.