September 2022

Cover Story

Article | Revenue Cycle

Revenue cycle automation helps health systems regain financial footing during COVID-19 and beyond

Bots and other forms of automation are helping hospitals keep up with the revenue cycle at a time when resources are limited.

Features

Case Study | Revenue Cycle

How Mercyhealth applied automation to fine-tune revenue cycle management

Mercyhealth, a health system based in Rockford, Illinois, was prompted by the COVID-19 pandemic to transform its revenue management processes and pivot to an automated approach that would enable leadership to track effectiveness of staff working at home.

Q&A | Cost Effectiveness of Health

Bruce Haupt: How the revenue cycle can help patients make healthy choices

The revenue cycle should be designed to give patients choices that help make healthcare more affordable for them, says Bruce Haupt, president and CEO of ClearBalance Healthcare. By clearly communicating those choices, organizations can promote improved health by encouraging patients to seek care they might otherwise have deferred.

Columns

Column | Leadership

Reflections on Annual Conference: Keynoters nailed it

National Chair Aaron Crane reflects on keynote presentations by Zeev Neuwirth, Kelli Harding, D.J. Vanas and Joel Selanikio at HFMA’s 2022 Annual Conference.

Column | Healthcare Business Trends

Paul Keckley: 4 implications of the post-pandemic U.S. economy for healthcare

Reports about the state of the U.S. economy after the first six months of 2022 warn of a slowdown in the post-pandemic recovery. Healthcare provider organizations should prepare for four factors related to this slowdown that will shape healthcare's future.

Column | Leadership

Jill Geisler: How to navigate the transition from team member to team leader

Being promoted from within can be challenging. Jill Geisler shares how to avoid common pitfalls and successfully transition from team member to team leader.

Column | Cost Effectiveness of Health

David Johnson: Cracks in the Foundation (Part 6) — Overcoming inadequate leadership

Health system leaders today should demonstrate the courage to reject volume-based business models and embrace value-driven care delivery. Improving governance within nonprofit health systems will speed the nation's journey toward consistent delivery of kinder, smarter and affordable care for all Americans.

Column | Cost Effectiveness of Health

Gail Wilensky: Achieving health equity in the U.S. requires a preventive approach

Social determinants of health (SDoH) present a severe challenge for our nation by perpetuating inequities both in access to care and in the quality-of-the outcomes of care. Although interventions that address the challenges posed by SDoH are helpful throughout a person’s life, they can be most helpful if they occur early on, with a focus on enhancing early childhood education and food security.

Column | Leadership

Terri Chinn: For hospital CFOs, success comes from understanding payer expectations

Terri Chinn, CPA, a 37-year member of HFMA, and vice president, finance, at St. Mary’s Medical Center in Grand Junction, Colorado, suggests success for her organization comes from its ability promote health in its service area. She has applied her lessons learned as a leader of both payer and provider organizations to financially manage a clinically integrated network, called Monument Health, with the purpose of improving quality and access while reducing cost for its beneficiaries.

Column | Finance and Business Strategy

Marcus Whitney: Inflation puts innovation pressure on healthcare executives

In the wake of the COVID-19 crisis, healthcare is encountering something it has not seen since the 1980s: severe value network disruption in the form of labor shortages and supply costs.

Column | Cost Effectiveness of Health

Joe Fifer: Cost effectiveness of health: Why now?

Joe Fifer says it’s time for healthcare leaders to make a choice about their role in addressing social determinants of health and outlines three options for doing so.

Departments

News | Finance and Business Strategy

Innovation is a common theme among hfm’s 2021-22 Best Article Award winners

HFMA recognizes articles published in hfm as the fiscal year 2021-22 winners of the Helen Yerger/L. Vann Seawell Best Article Award for outstanding editorial achievement.

Column | Leadership

2021-22 HFMA Success Award winners announced

HFMA’s 2022 Leadership Training Conference took place April 24-26 in Phoenix. Winners of the 2021-22 Chapter/Region Success Awards were announced.

Column | Leadership

Kuchka-Craig and Crowell honored with 2022 Morgan Award

Debi Kuchka-Craig and Jude Crowell were presented with the 2022 Frederick C. Morgan Award for Individual Achievement at HFMA’s Annual Conference in Denver.

News | Medicare Payment and Reimbursement

News Briefs: Final rule for Medicare inpatient payments brings large rate increase

As published in hfm magazine, a monthly roundup of top news for healthcare finance professionals.

News | Strategic Planning

The implications of Amazon's deal to buy One Medical: What healthcare providers should know

Amazon’s announced purchase of One Medical for nearly $4 billion should spur providers to fortify their primary care strategies.

Leadership

HFMA 2022-23 Leadership Directory

HFMA's 2022-23 Leadership Directory provides a listing of the Association's National, Regional and Chapter leaders for its current fiscal year.

Supplements

Article | Revenue Cycle Technology

ElevatePFS delivers exceptional, patient-focused revenue cycle management services

Are you a provider dealing with government regulations, recovering from the COVID-19 pandemic, and adapting to technological advancements? Find out how to alleviate stress while navigating the complex revenue cycle challenges, while also delivering a positive patient experience.

Executive Roundtable | Billing and Collections

Navigating the changes to revenue and billing practices in the No Surprises Act

In this roundtable, revenue cycle leaders discuss the anticipated challenges and strategies for approaching these challenges arising from the No Surprises Act, which went into effect Jan. 1, 2022.

White Paper | Cost of Care

The shift toward integrated pharmacy services: driving long-term success

One driving factor for health systems and hospitals shift to in-house integration pharmacy services is average turnaround time. For an outsourced specialty pharmacy, turnaround is 10 to 14 days, whereas an in-house specialty pharmacy can reduce that time to just 2.1 days.

Executive Roundtable | Value-Based Payment

What healthcare system leaders say about the value-based care journey

In this roundtable, executives for health plans and health systems share challenges in value-based care and the significance of moving away from fee-for-service toward value-based-care.

Executive Roundtable | Patient Experience

What revenue cycle strategies enhance the patient experience

In a roundtable discussion, revenue cycle leaders chat about strategies they developed to enhance the patient experience while navigating the payment process.