November 2019

Cover story

Case Study | Value-Based Payment

How one ACO leveraged universal truths of value-based contracting for success

A finance leader of successful East-coast accountable care organization describes the key factors that have enabled the ACO to thrive under value-based payment contracts.

Features

How To | Strategic Planning

To transform your organization, start by transforming your strategy execution

In an era when strategy execution is more important than ever in healthcare, a Strategic Realization Office can be a vital tool.

Article | FASB and GASB Rules and Guidelines

Not-for-profit healthcare organizations should understand the benefits and risks of FASB's new alternative accounting approach

A FASB Financial Accounting Standards Update now allows not-for-profit healthcare entities to adopt an accounting alternative previously available only to non-public business entities, but the not-for-profits may find it more beneficial not to do so.

Article | Operations Management

Why hospitals should focus on improving the value of care in the cardiac cath lab

Web special: Healthcare finance leaders should be aware of care protocols that can improve patient outcomes and satisfaction while reducing costs, particularly in high-cost services lines. One such protocol is the use of transradial access for patients undergoing percutaneous coronary intervention.

How To | Pricing

How healthcare providers can conduct a consumer-focused pricing strategy

The growth of consumerism in healthcare has made it imperative for healthcare providers to develop a pricing strategy that can help them achieve a competitive advantage among consumers in their markets.

Research & Reports | Operations Management

Strategy, technology and tactics for sustainable performance improvement

Results of a recent survey, in which hospital and health system leaders described areas where their organizations have the greatest need for performance improvement, point to four key strategic areas of focus for these leaders.

News | Innovation and Disruption

Innovative startup works to solve billing problems for patients and providers

HFMA members voted Papaya, a mobile app for patient payment, the most innovative startup at HFMA’s June Annual Conference.

Columns

Column | Leadership

Shake it up — it’s what healthcare leaders need to do to move ahead

The philosophies of two leading sports executives provide lessons for healthcare finance leaders on the need to take risks to be successful.

Column | Healthcare Reform

Opponents of Medicare expansion should focus on pitfalls of proposals

Eye on Washington: Challenges to Medicare expansion and "Medicare for All" proposals should address some of the very real potential pitfalls of the proposal, including their projected price tags.

Column | Financial Leadership

Tips on how leaders should communicate during major change initiatives

During times of organizational change, leaders should recognize the importance of communication in ensuring the change gets implemented effectively.

Column | Capital Finance

2 USDA loan programs offer advantages for rural healthcare organizations

Capital Finance: Two rapidly increasing USDA rural loan programs offer many rural hospitals low-interest capital finance options that have fewer requirements than commercial debt.

Column | Risk Management

3 ways cost models are a key to success under risk

Business Intelligence: New primary care models can help healthcare organizations achieve financial goals.

Column | Strategic Partnerships, Mergers, and Acquisitions

Where is your health system on the journey to systemness?

Healthcare Innovation: Healthcare organizations should keep track of progress toward operating as a unified system after mergers and acquisitions.

Column | Medical Debt

It’s time to get lawsuits over medical debt out of the headlines

HFMA President and CEO Joe Fifer discusses current issues surrounding medical debt.

Departments

News | Revenue Cycle

HFMA’s December Chicago Seminars focus on revenue cycle essentials, value-based payment and chargemaster strategies

Register now at hfma.org/seminars to learn about the most pressing issues in the industry today during a two-day focused education Dec. 5 and 6 in Chicago.

News | Leadership Skills Development

Growth of Enterprise Solutions reflects the value of HFMA membership

Enterprise members of HFMA testify to the various benefits the membership opportunity has presented to them.

Column | Staff Development

Tri-State 2019 focuses on industry trends

Four Chapters united for their 6th biennial and largest attended event in mid-September to learn and connect on payment trends. Plus, a farewell to HFMA Chapter Relations Specialist Pat Kosar.

News | Payment, Reimbursement, and Managed Care

News Watch November 2019: Developments and trends shaping healthcare finance

News Watch: News stories about recent developments and trends shaping healthcare finance in the United States.

Trend | Billings and Collection

In the wake of recent news, providers should examine their patient collection practices to avoid pitfalls

Best practices can help healthcare providers avoid some of the pitfalls of trying to collect on patient debt.

Column | Staff Development

Lone Star Chapters’ Jorge Fernandez joins Triage Consulting

President-Elect of the HFMA Lone Star Chapter Jorge Fernandez provides information on his new job, the benefits of HFMA membership and five fun facts about his life. Also, three other HFMA members share their job news and one member earns an MBA.

News | Payment, Reimbursement, and Managed Care

HFMA: CMS transparency effort misses the mark

Podcast: HFMA President and CEO Joe Fifer discusses HFMA’s perspectives regarding a CMS proposed rule that has generated controversy in that it would require the public release of rates hospitals negotiated with health plans.

Advertising

Article | Revenue Cycle Technology

Top revenue cycle challenges and opportunities

Important learnings from a September 2019 HFMA study about the impact of EHRs, consumer self-pay and IT budgets on revenue cycle operations.

Executive Roundtable | Patient Access

Pursuing revenue cycle innovation

A roundtable of healthcare financial leaders explores strategies for optimizing the revenue cycle to reduce cost-to-collect, limit revenue leakage and meet patient and payer expectations.

Research & Reports | Billings and Collection

Analyzing pre-payment and point-of-service collections efforts

Important learnings from a June 2019 HFMA Annual Conference intercept survey about how hospitals and health systems are making strides in proactively collecting patient payments.

Article | Chargemaster

Vitalware: An all-encompassing, single-platform chargemaster solution

A leading chargemaster company discusses how its technology helps hospitals operate more transparently, price strategically and confidently run a compliant and efficient revenue operation.

Article | Medicare Compliance, RAC, OIG

BESLER: Full-service Transfer DRG revenue recovery

BESLER talks about its Transfer DRG revenue recovery service that helps hospitals recover monies they have rightfully earned while maintaining compliance.