Cover Story
Healthcare’s cybersecurity stakes reach alarming levels
A cyberattack in early October on CommonSpirit, the second largest U.S. nonprofit hospital chain, disrupting its medical services nationwide, underscores the very real and growing risk our nation’s healthcare system faces from cybercrime.
Features
Why owning a health plan is a good provider strategy
The trend toward increased ownership of health plans by health systems shows no signs of slowing as health systems are increasingly recognizing the importance of having their primary focus be on health and health outcomes rather than on the number of visits or procedures. A health system leader describes the advantages of health plan ownership and strategic considerations for pursuing this approach.
Why it can be a good idea for hospitals to stand up to government policy
A book by Ted Giovanis, a long-standing HFMA, chronicles how he identified an error CMS made in a Medicare formula, resulting in hospitals being underpaid nearly $4 billion, which was ultimately recovered through litigation.
Columns
Aaron Crane: Poker lessons for healthcare finance
HFMA Chair Aaron Crane believes the game of poker provides valuable lessons for healthcare finance professionals navigating the current industry environment.
Jill Geisler: Are you creating quiet quitters or preventing them?
Quiet quitting is a current workplace hot topic. Jill Geisler discusses the trend and the role that leaders can play in either preventing — or perpetuating — it.
David Johnson: Rewiring healthcare’s smartest professionals (Hint: It’s not physicians)
Revenue cycle management is a massive and growing industry within the U.S. healthcare system. But its focus is more on optimizing revenue than on ensuring the needs of patients are fully met. That needs to change, and a better approach is not out of reach.
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.
Departments
HFMA Community shows elevated interest in No Surprises Act Forum
HFMA Community Manager Melanie Binder reviews how HFMA’s online Community has increased from four initial forums to a thriving network of 15 industry-specific forums.
Hilda Dalfonso assumes new CFO position
HFMA members Hilda Dalfonso, Jennifer Doll, Kim Hodgkinson and Russ Ranallo were recently named to new healthcare system CFO positions.
Arizona Chapter forges unique partnership
Arizona HFMA Chapter partners with the Diaper Bank of Central Arizona to raise awareness of a critical need and provide needed supplies to low-income families.
News Briefs: Financial and operational challenges still hamper hospitals 2.5 years into the pandemic
As published in hfm magazine, a monthly roundup of top news for healthcare finance professionals.
Supplements
Clinical audits and denials impact 3% or more of NPR being held in reserve
This pulse survey shows how healthcare organizations are currently tracking health system’s audits and denials from government and commercial payers.
The Quadruple Aim: How robotic-assisted surgery helps organizations provide high-quality care at a lower cost
Read about how RAS can improve physician and patient satisfaction while simultaneously lowering costs, reducing complications and generating new net revenue.
CareCredit healthcare credit card provides flexible payment options for both patients and healthcare providers
Read about one company’s payment solution that gives patients a way to pay for out-of-pocket healthcare costs while enabling health care organizations to receive payment for services within two business days.
Most healthcare organizations want to augment current EHR workflows and would consider flexible outsourcing contracts
This pulse survey shows that there is no one-size-fits-all solution for managing today’s revenue cycle challenges. Savvy healthcare organizations know they need a combination of actionable insights and high-performance work teams to be successful.
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