Financial Sustainability Report: January 2020

HFMA is pleased to present the January 2020 inaugural issue of the Financial Sustainability Report, sponsored by Kaufman Hall. This  monthly e-newsletterwill provide insights and guidance regarding regarding practical steps and strategic actions healthcare organizations can take to increase their margins and ensure long-term financial sustainability, with topics ranging from cost containment to process improvement to design and execution of effective population health and value-based payment strategies.

Clinical process improvement

How Orlando Health stemmed healthcare costs by eliminating unnecessary clinical process variation 
By Thomas Kelley, MD, Donna Jansen, RN, Bart Richards, CHFP,  and Nick Radice, CHFP
An initiative to eliminate unnecessary variation in care processes for six diagnostic groupings enabled Orlando Health to significantly reduce its average length of stay for the diagnoses while realizing a substantial reduction in cost. 

How using artificial intelligence enabled Flagler Hospital to reduce clinical variation 
By Michael Sanders, MD
Flagler Hospital used an artificial intelligence application to support physician-led efforts to develop and adopt care pathways aimed at improving care quality and outcomes while reducing cost. 

Analytics for performance improvement

How a new view of performance improvement can help healthcare organizations rein in costs
By Lance Robinson
Succeeding in U.S. healthcare’s challenging financial environment requires a disciplined, data-oriented approach with a corresponding investment in data systems and infrastructure. 

Supply chain management

How a dashboard and an 8-step process helped a hospital slash drug costs
By Mark-Alan Pizzini, MD, Gene Gofman, MBA, Nishaminy Kasbekar, PharmD, Parwana Shah, PharmD, and William Vernick, MD
Penn-Presbyterian Medical Center reduced its cost for anesthesia medications by creating a dashboard to assess usage patterns and using a change management process to encourage providers to embrace improvement opportunities.

Cost reduction

5 tactics to reduce clinical costs and improve performance
By Rob Gamble, Pamela Damsky and Mike Gart
Learn about clinical cost reduction strategies and examples.