February 2022

Cover Story

Article | Cost Effectiveness of Health

‘A just cause’: HFMA's CEoH initiative addresses the factors that impede quality of health and raise healthcare costs

HFMA is moving forward with a global effort focused on the concept of cost effectiveness of health (CEoH), with the goal for promoting development of a system for care that is needed, accessible and affordable. A key message of this effort is that a broader focus on improving cost effectiveness of health — not just of healthcare — should be a strategic priority for healthcare leaders.

Features

How To | Capital Finance

Healthcare providers face a growing risk of violating debt covenants

COVID-19 has increased the financial strain on healthcare providers that puts them at risk of being noncompliant with lending covenants. They should be taking proactive steps now to avoid or mitigate the potentially severe adverse financial consequence of such an occurrence.

How To | Accounting and Financial Reporting

A checklist for successful hospital cost reporting in the time of COVID-19

COVID-19 will have long-term impacts on the operations of hospitals, and on their costs in particular., making it imperative that hospitals be mindful of how those impacts extend to their cost report data.

How To | Cost Effectiveness of Health

4 essential tactics for sustaining an independent community hospital

Independent community hospital face threats to their survival, and they need to take deliberate action to address those threats in order to continue to deliver essential care cost effectively to their communities. Leading community hospitals that are committed to remaining independent share the tactics they have adopted to ensure their independence is sustainable

Columns

Column | Leadership

Tammie Jackson: In healthcare finance, bold pursuits require persistence and curiosity

HFMA's 2021-22 Chair says addressing health system challenges such as racial and ethnic disparities in quality of care and limited access to care among some populations due to social determinants of health requires boldness and persistence.

Column | Legal and Regulatory Compliance

Paul Keckley: The healthcare regulatory climate for 2022 — What to expect

Hospitals, physicians and long-term care and ancillary service providers can anticipate significant changes in the regulatory climate in 2022. Although such changes are predictable, context is key: Regulatory policymaking in healthcare in the current environment is limited by disfunctional gridlock in Congress, the fact that 2022 is a mid-term election year and a high level of public anxiety about the economy and healthcare.

Column | Leadership

Jill Geisler: Resolve to give your team the gift of time (well spent)

Leaders are one of the greatest influences on work-life harmony. Jill Geisler shares how healthcare finance leaders can give their teams the gift of time well spent and create a culture where work-life harmony flourishes.

Column | Cost Effectiveness of Health

David Johnson: Cracks in the foundation — 5 structural defects are undermining nonprofit healthcare

The relentless organizational imperative under which nonprofit healthcare providers operate to optimize revenues under fee-for-service medicine has led to fragmented care delivery, unsustainable cost growth and severed connections with American consumers. Nonprofits should address five structural defects to their modus operandi that stand in the way of their delivering care empathetically and cost effectively to their patients.

Column | Legal and Regulatory Compliance

Shawn Stack: No Surprises Act is important move toward meaningful consumer transparency

The No Surprises Act, which became effective on Jan. 1 of 2022, will clearly benefit patients, .ut its larger impact is yet to be seen as the industry awaits the release of provisions targeting health plans and payers.

Column | Capital Finance

Eric Jordahl: Preparing health system balance sheets for the journey to normalization

The Federal Reserve's recent signal that it will transition to a tighter monetary policy is an indication that the organization and the economy have entered a new, more stable stage.

Column | Leadership

Reflections on the pandemic, year 3

HFMA President and CEO Joe Fifer shares a perspective on ways to acknowledge healthcare’s frontline workers as the third year of the COVID-19 pandemic begins.

Departments

News | Leadership

Success Awards presented at 2021 Annual Conference

News | Coronavirus

News Briefs: Supreme Court ruling allows the COVID-19 vaccine mandate for healthcare workers to proceed

A roundup of top news stories for healthcare finance professionals.

Supplements

Research & Reports | Risk Management

Survey: Health systems push toward risk-based payment models, payer-provider partnerships

Check out the key takeaways from a survey conducted in Summer 2021 with healthcare executives, which focused on risk-based models, data issues, leaders’ concerns on hitting budgets and more.

Article | Risk Management

Enabling change requires organizational self-awareness

A company principal and leader breaks down successful organizational change management strategy factors, such as current culture, influencer networks and effective communication and education channels.

Article | Technology ROI

PMMC’s Estimator PRO increases pricing transparency and upfront collections

Looking to invest in software? One company uses a patient estimation system, which has resulted in enhanced productivity for more than 500 hospitals with an average 10 to 1 ROI.