April 2018

Cover Story

Trend | Enterprise Risk Management

Building an ERM Framework for Value-Focused Health Care

Healthcare providers are increasingly taking on payment risk as a result of value-based payment arrangements being implemented by the federal government and the private sector. 

From the President's Desk

Expanding on thoughts in his April 2018 column in hfm, HFMA President and CEO Joseph J. Fifer, FHFMA, CPA, talks about the need to develop a shared understanding of value.

Video: The Benefits of Behavioral Economics

David Asch, MD, executive director of the Penn Medicine Center for Healthcare Innovation, discusses how behavioral economics can help the healthcare industry enable health-oriented behavior.

Early Edition

Case Study | Medicaid Payment and Reimbursement

Building a Resilient Managed Medicaid Program in the Face of Uncertainty

By collaborating with state agencies, a provider-sponsored health plan has thrived and expanded in an economically disadvantaged area.

How To | Service Line Management

Setting a Course for Growth Through Optimal Service-Line Performance

For a health system, developing the analytics required to manage service-line performance across the care continuum involves an evolutionary process from rudimentary and intermediate to advanced and, ultimately, innovator stages.

Column | Innovation and Disruption

Amazon in Health Care? Yawn . . .

The recently announced Amazon-Berkshire Hathaway-JPMorgan Chase affiliation has been widely discussed an important development in health care, but it would not likely have enough control and leverage to bring about meaningful change.

Column | Partnerships and Value

Provider-Sponsored Health Plans: Cautions and Opportunities

Hospitals and health systems that are contemplating establishing a provider-sponsored health plan face considerable challenges today in such an undertaking, but it can be an effective strategy for some. 

Features

Trend | Enterprise Risk Management

ERM: Evolving From Risk Assessment to Strategic Risk Management

Hospitals and health systems must learn how to manage risk effectively to successfully face new challenges in health care.

How To | Enterprise Risk Management

How Healthcare Providers Can Reap the Benefits of an Actuarial Mindset

By adopting actuarial approaches to managing risk, healthcare providers can improve their financial security, apply greater leverage in contract negotiations, and enhance their clinical capabilities. 

How To | Financial Leadership

4 Strategies to Unlock Healthcare Performance Management Constraints

Hospital and health system finance leaders should play a central role in ensuring their organizations are applying high-quality enterprise performance management approaches that improve their organizations’ strategic agility in addressing enterprise risk. 

How To | Value-Based Payment

Protecting Revenue at Risk

A pocket guide to help hospitals and health systems navigate pay-for-value programs.

Focus Area

Trend | IRS Compliance

The Tax Cuts and Jobs Act: Takeaways for Healthcare Finance Leaders

The Tax Cuts and Jobs Act is likely to have a unique effect on the healthcare industry.

Columns

Column | Enterprise Risk Management

Assessing Risk in Healthcare Finance Calls for Stewardship

Amid the healthcare industry’s ongoing transformation, healthcare leaders are called upon to be stewards in guiding their organizations through change and managing financial and operational risk.

Column | Value-Based Payment

Has Value Become a Buzzword?

Our shared vision of value is at risk. We won’t attain high-value health care unless we agree on what that means.

Column | Innovation and Disruption

The Future of the Hospital

Reduced utilization of hospitals has many calling their future usefulness into question.

Column | Healthcare Reform

Developing a Future Generation Integrated Healthcare System

To envision new and better ways to rapidly reduce healthcare costs, the U.S. healthcare industry should take a lesson from approaches used by other countries, including China.

Departments

Trend | Benchmarking and Forecasting

12-Year Trend Shows Steady Rise in Acute Care Hospital Administrative and General Costs

An analysis of Medicare cost reports shows that U.S. Hospitals saw a gradual increase in their administrative and general costs from 2004 through 2016. 

Supplement

Research & Reports | Value-Based Payment

Research Report: Value-Based Payment Readiness

This article discusses key takeaways from a September 2017 HFMA survey of senior financial executives about value-based payment readiness and how it has changed in recent years.

White Paper | Healthcare Business Trends

White Paper Highlight: CEOs Meet to Discuss Critical Healthcare Trends

This article highlights a white paper that shares top insights from a Fall 2017 gathering of senior healthcare leaders. Within the meeting, executives offered their perspectives on healthcare trends and gave recommendations for future work.

Advertising

Business Profile | Supply Chain Management

HealthTrust: Optimizing Purchased Services

Andrew Motz, assistant vice president, supply chain consulting at HealthTrust, discusses the value of a data-driven approach when procuring purchased services.

Trendsetter | Cost Reduction

Trendsetter: Pursuing Data-Driven Workforce Management

This article discusses how Premier Inc. partners with health systems to reimagine workforce management, offering integrated data and advisory services to improve efficiency, reduce costs, and drive performance.