How To | Financial Sustainability

Financial Sustainability Report: April 2021

Sponsored by Kaufman Hall
How To | Financial Sustainability

Financial Sustainability Report: April 2021

The April Financial Sustainability Report, sponsored by Kaufman Hall, offers results of a health system’s assessment of its costs to deliver telemedicine services. Other content includes a case study of how a large medical group revamped its approach to compensating its employed physicians, and guidance on how to stem the losses many hospitals incur around referrals for ambulatory services.

Telemedicine

The economics of a telehealth visit: A time-based study at Penn Medicine 
By Neil Ravitz, MBA; Sean Looby, MHA; Calvin Jordan, MBA; and Andrew Kanoff, MHA 
Research into the costs of delivering telehealth versus in-person visits by the Department of Orthopaedics at Penn Medicine sought to answer the health systems’ questions about the long-term economic viability of telemedicine services, and to help inform their conversations with payers about how much they should appropriately be paid for the services.

Physician compensation

From chaos to unity: 6 steps for building a compensation plan for employed physicians
By Robin Nichols, CPA, MHA
When acquiring physician practices, health systems often develop employment arrangements on a case-by-case basis, leading to challenges due to the inconsistencies of multiple arrangements. A large physician practice’s effort to standardize its approach to compensating its employed physicians offer a case example of how to effectively address this problem.

Physician performance

Physician practice performance suffered during the 2020 pandemic year
Sponsored by Kaufman Hall
By Cynthia Arnold and Matthew Bates
Recent research shows that volatility driven by COVID-19 rocked physician practices throughout 2020, but there were signs of recovery toward the end of the year.

Revenue cycle

How healthcare organizations can leverage CDI to meet strategic goals amid times of financial uncertainty
James P. Fee, MD
Six trends related to the COVID-19 pandemic have created a need for healthcare organizations to adopt a new, strategic and data-driven approach to managing their clinical documentation integrity (CDI) programs.

Outpatient payment

Physician-friendly web technology can help hospitals grow revenue from ambulatory referrals
By Denny Phillips
All too often, ambulatory orders from referring physicians do not result in delivered services and associated revenue for hospitals because of ineffective ordering processes. Hospitals can gain a competitive advantage ad avoid lost revenue by taking steps to simplify this process for both the referring physician and the patient. 

Sign up for a free guest account and get access to five free articles every month.

Advertisements

Related Articles | Financial Sustainability

How To | Financial Sustainability

Financial Sustainability Report: July 2021

The July 2021 issue of the Financial Sustainability Report, sponsored by Kaufman Hall, includes an account of how one health system assessed the benefits and risk associated with moving its 340B covered-entity pharmacy enterprise to a Limited Liability Company. The issue also includes a commentary on CMS’s new Acute Hospital Care at Home program and a discussion of a new metric, equivalent net patient revenue (ENPR), which organizations can use to assess the relative value of proposed investments in alternative revenue sources.

How To | Capital Finance

ENPR: A metric for comparing alternative and top-line revenue strategies to enhance strategic growth

Health system CFOs today should be actively guiding their organizations toward strategic investments in alternative revenue sources that can strengthen the bottom line. An effective and relatable metric for evaluating such investments is equivalent net patient revenue (ENPR).

Column | Financial Sustainability

Hospital care at home signifies an important innovation in acute care delivery

Although the CMS Acute Hospital Care at Home program is still early in its development in the U.S., early adopters show evidence of the program’s exciting promise, including positive impacts on health outcomes, an improved patient and provider experience, reduced cost of care and overall healthcare savings.

Financial Sustainability

Maintaining the equilibrium of the physician enterprise amid rapid change is a matter of balance

To ensure the proper functioning of the physician enterprise, hospitals and health systems must establish a balance among three dimensions: The clinicians’ productivity, the capacity to provide patients with access to care when they need it, and he volume of existing and potential patients in the market.