How Geisinger Maintains Strong Revenue Cycle Performance During M&As
Geisinger Health System leaders have been able to return to previous revenue cycle performance levels within 90 days or less during their integrations. Their strong performance continues today as demonstrated by the health system’s award-winning revenue cycle department.
Christiana Care Avoids $100M In Costs by Improving Quality, Cutting Waste
Leaders at Christiana Care have reduced waste by ensuring appropriate use of telemetry and modifying their electronic health record to eliminate ordering of automatically recurring lab tests. They also have improved outcomes by better managing blood products and using a care management tool to target at-risk groups.
Caregiver Support May Help Reduce Costs
Family caregivers’ fatigue was associated with $1,937 higher costs while caregiver sadness was associated with $1,323 higher costs during a six-month period. Patients with severely fatigued caregivers also were more likely to visit the ED.
Some M&A Transactions Reduce Costs
More than two thirds of hospital merger and acquisition transactions accomplish at least some of their cost reduction goals, according to a recent survey of financial executives by Deloitte and HFMA. However, savings can take several years to realize. Approximately 40 percent of respondents said they achieved 25 percent or more of their cost-reduction goals. Hospital Finance Executives Report Cost Savings from M&As
How Is Your Hospital Managing Costs Across Its Physician Enterprise?
Several factors have challenged achieving a more comprehensive view of costs at the physician enterprise level, including governance, data sharing, and financial performance expectations.
Hidden Costs of Duplicate Patient Records
Accurate patient data is more important than ever as value-based payment models take hold. An enterprise-wide database is one solution to avoid duplicate patient records that negatively affect productivity and costs.
Leading Hospitals Turn to Advanced Strategies for Pharmacy Savings
Organizations like Froedtert Health and Intermountain Healthcare are working on both internal and collaborative strategies to reduce pharmacy costs and improve clinical care.
Time Is Money: Aurora Health’s 5-Month Cost Accounting Journey
Recognizing the intense multidisciplinary effort required to implement cost accounting, Aurora Health followed a step-by-step approach that emphasized structure, validation, training, maintenance, and optimization.
hfm Magazine: April 2018
The April 2018 edition of hfm explores enterprise risk, addressing as framework for value-focused care, revenue protection, and performance management constraints.
Video: The Benefits of Behavioral Economics
David Asch, MD, executive director of the Penn Medicine Center for Healthcare Innovation, discusses how behavioral economics can help the healthcare industry enable health-oriented behavior.