May 2020

Cover Story

Trend | Care Process Redesign

Enhanced care coordination provides a blueprint for optimal healthcare, former VA Secretary David Shulkin says

The U.S. healthcare system will thrive if leaders and policymakers take steps to promote holistic care and better access, says David Shulkin, MD, former secretary of the Department of Veterans Affairs.

Features

How To | Capital Finance

5 steps for developing a strong investor relations strategy

Healthcare organizations should adhere to best practices in investor relations by pursuing a strategy that builds and maintains trust through routine, clear communication of key organizational objectives, priorities, strategic initiatives and strengths.

How To | Coronavirus

5 ways hospitals should prepare to access COVID-19 disaster funding

The nation's hospitals should not delay in taking steps to track and document additional costs and revenue losses associated with COVID-19 cases, which will be necessary to obtain timely access to relief authorized under the CARES Act .

How To | Capital Finance

8 hallmarks of a successful healthcare venture capital program

Health systems that are developing venture capital projects should apply eight core principles that reflect best practices of organizations that had a strong track record of success in managing their venture capital programs.

News | Coronavirus

How CFOs can protect clinicians during the COVID-19 pandemic

Marcus Schabacker, MD, PhD, president and CEO of ECRI, offers advice to healthcare CFOs on how they can help ease the burden on clinicians in the ongoing battle against COVID-19.

Research & Reports | Costing and Managerial Accounting

Why a more modern cost accounting approach in healthcare is needed post-COVID-19

A recent survey by HFMA and Strata Decision Technology found that, although 85% of health systems and 57% of hospitals and medical centers havecost accounting systems, most are not fully adept in using cost data to reduce total cost of care.

Article | Consumerism

Don't skip the patient conversation when payer coverage for coronavirus is unclear

Whether holding charges or billing, healthcare organizations should be communicating with patients about their financial responsibility.

Columns

Column | Leadership

The end of the beginning: Outgoing HFMA Chair looks ahead

Healthcare finance leaders should not view the COVID-19 crisis as an ending to what has gone before. Instead, they should see what's happening today as a time for renewal and regeneration.

Column | Payment, Reimbursement, and Managed Care

Will the CARES Act actually reduce hospital financial stresses?

The COVID-19 crisis raises important questions for the U.S., including how it should prepare for the inevitable occurence of other potential serious pandemics in the future.

Column | Coronavirus

What employees need from their leaders during the coronavirus crisis

As healthcare organizations navigate a high-stress period, leaders can serve as much-needed bulwarks if they take the right approach.

Column | Finance and Business Strategy

COVID-19 is the deflection point for new health system flexibility

Integrated health systems will require flexibility as they begin a process of adjusting to the new healthcare environment that follows the COVID-19 crisis.

Column | Consumerism

Patient financial responsibility for COVID-19 treatment: let's get it right

HFMA President and CEO Joe Fifer addresses issues related to the patient financial experience — and journalists who are covering it —during the COVID-19 pandemic.

Departments

Column | Staff Development

HFMA’s Region 5 raises more than $17k for Charleston, South Carolina nonprofit, Amor Healing Kitchen

HFMA’s Region 5 came together during the Southeastern Summit to donate $17,320 to Amor Healing Kitchen, a Charleston nonprofit, which serves freshly cooked food to people with cancer or other illnesses.

News | Staff Development

CRCR certifications surge with Enterprise Membership

Change Health has encourage staff on its provider account management team to obtain HFMA's CRCR certification, with the result that the number of staff members who have achieved the certification has skyrocketed.

News | Coronavirus

Cost of COVID-19 cases likely to eclipse relief measures

Hospitals and health systems need to develop a well-informed plan of action to deal the the short-term and long-term financial impacts of COVID-19.

News | Coronavirus

Rural hospital finances hit hard by looming threat of COVID-19 as leaders scramble to preserve cash

Although most healthcare providers are likely to take a financial hit from the coronavirus pandemic, rural hospitals are especially vulnerable and are scrambling to preserve cash.

Column | Staff Development

HFMA Chapter members share promotions and new job roles

HFMA Chapter members announce career updates from new jobs to promotions. Plus, one member shares her recent accomplishment with a master’s in legal studies.

Supplements

Research & Reports | Healthcare Business Trends

Survey: Hospitals overspending on corporate services could reduce costs without impacting quality

Important learnings from a November 2019 HFMA-conducted survey about corporate services spending patterns and how organizations could be more efficient and effective with their spend.

Research & Reports | Physician Compensation

Survey: Understanding and mitigating risk in compensating physicians

Important learnings from a February 2020 HFMA-conducted survey about physician compensation, where healthcare organization leaders offer insights on the complexities of the process.

Business Profile | Technology ROI

Make your cloud transformation endure: 5 steps for a lasting enterprise cloud strategy

A strategy-focused article about implementing a cloud-based enterprise resource planning (ERP) solution, which focuses on the role of planning, teamwork, communication and continuous performance monitoring.

Article | Analytics

How to make effective financial decisions with real-time data analytics

A leading healthcare analytics company talks about key factors to look for in a financial decision support tool and how to use real-time data to navigate evolving business challenges.

Research & Reports | Technology ROI

Factors that Influence Cardiac Surgical Technology Purchases

A visual analysis of a February 2020 HFMA survey about factors that influence cardiac surgical technology decisions.

Research & Reports | Physician Compensation

Physician Compensation Systems Survey

Survey analysis reveals important learnings from a February 2020 HFMA-conducted study, sponsored by Ludi, about physician compensation.

Research & Reports | Technology ROI

Cardiac Surgical Product Adoption Survey

Survey analysis reveals important learnings from a February 2020 HFMA-conducted study, sponsored by Edwards Lifesciences, about cardiac surgical product adoption.