Financial Sustainability Report: May 2020

This issue of the Financial Sustainability Report, sponsored by Kaufman Hall, offers insights and guidance that can help healthcare finance leaders develop long-term solutions for recovering and thriving in the new healthcare landscape that emerges after the COVID-19 pandemic.

Telehealth

How to plan for and profitably operate telehealth services
By Lucy Zielinski
The COVID-19 pandemic has opened new opportunities for hospitals and health systems to substantially expand their use of telehealth services. But it is not the sole reason telehealth has gained popularity. Implemented properly with careful planning, telehealth can be a strong revenue source going forward.

After COVID-19

Top long-range challenges for healthcare organizations in the aftermath of COVID-19
By Deborah Filipek 
An industry expert explains why the long-term challenges healthcare organizations will face in the aftermath of the COVID-19 crisis will vary considerably, depending on each organization’s circumstances.

Rolling forecasting will help get hospitals through the COVID-19 crisis
Sponsored by Kaufman Hall
By Kate Guelich and Dan Majka
The upheaval hospitals and health systems are experiencing as a result of theCOVID-19 pandemic has made traditional annual budgeting processes inadequate. Organizations should consider adopting instead a budgeting process based on rolling forecasting.

The coronavirus launches providers into new world of virtual healthcare
By Bill Eggbeer and Rick Wesslund
The new focus on virtual healthcare in the post-COVID-19 world will bring about an unprecedented industry transformation.  

EYE ON WASHINGTON
COVID-19: long-term implications for the nation’s health system
By Ken Perez
The COVID-19 pandemic’s impact on the nation has historical implications. Among the various national responses, we likely will see investments in strengthening hospitals’ abilities to deploy temporary facilities, draw upon backup staffing and build stockpiles of key items. 

GUEST COMMENTARY
COVID-19: No time for hesitation among healthcare finance professionals
By Ken Kaufman
Healthcare leaders should not allow today’s uncertainties to stand in the way of their moving forward deliberately now with financial planning.

News

Possible ‘silver lining’ for rural hospitals seen in attention generated by COVID-19 
By Lola Butcher
The COVID-19 pandemic creates an opportunity to focus attention on the fragility of rural hospitals, which may be able to secure needed support as a result.

Some hospitals pursue coronavirus assistance through FEMA — the ‘payer of last resort’
By Rich Daly
Hospitals are seeking FEMA funding to cover expenses incurred as part of their coronavirus responses.