Financial Sustainability Report: May 2021

The May Financial Sustainability Report, sponsored by Kaufman Hall, describes a new method for compensating physicians that better accounts for each organization’s unique circumstances. It also includes guidance for finance and clinical leaders on how they can work together effectively while acknowledging their differences, and it examines how payer-provider partnerships are helping organizations keep pace with a transforming healthcare industry.

Physician compensation

Why benchmarks should not be the sole guide for setting physician compensation
By Stuart J. Schaff, FHFMA, CVA 
Healthcare organizations that rely on survey benchmark data alone when setting physician compensation may be risking budgets and relationships with physicians, especially in times of great uncertainty. Instead, they should adopt an approach more tailored to their unique circumstances.

Strategic partnerships

Payer-provider economics: Preparing for the new frontier
Sponsored by Kaufman Hall
By John Poziemski
Payers and providers are increasingly creating strategic partnerships, with the intent of keeping pace in a rapidly transforming healthcare payment system that rewards value over volume.

Leadership

Physicians and finance: Managing the differences is critical to building clinical value 
George Mayzell, MD, Steven Berger, FHFMA, and Doug McKinley, PsyD 
For finance and clinical leaders to work together effectively, they must not only understand but also acknowledge the benefits to be gained from their different perspectives on what constitutes success. 

Physician perspectives

The understated value of the clinical laboratory 
By Martin Bluth, MD, PhD
Healthcare finance leaders need to rethink the value of the clinical laboratory in terms of revenue potential.

Integration

Integrated healthcare: Time for a reassessment
by Keith D. Moore, MCP
Given the waves of change that have swept over healthcare in recent years, it’s time to step back and think again about integration – and how to optimize care and maximize its impact.

Cost Effectiveness of Health

6 takeaways from HFMA’s Cost Effectiveness of Health Summit: Why health spending must become more cost-effective
HFMA’s first Cost Effectiveness of Health Summit drove home the urgency of improving how healthcare dollars are spent.