The strategic role of revenue cycle management in battling rising healthcare costs
Healthcare organizations are facing unprecedented operating costs, largely driven by labor and inflation. According to the American Hospital Association (AHA), “Persistent workforce shortages, severe fractures in the supply chain for drugs and supplies and high levels of inflation have collectively fueled hospitals’ costs.” The AHA also emphasized the challenges of “higher acuity care and deepening…
A year after Silicon Valley Bank’s collapse, what have we learned about managing counterparty risk?
On March 8, 2023, Silicon Valley Bank (SVB) announced a $1.8 billion loss from the sale of securities to cover a decline in clients’ deposits. The following day, SVB’s stock dropped 60% and the bank saw a historic $42 billion in withdrawal requests. Twenty-four hours later, SVB was under the control of U.S. banking regulators…
Cost Effectiveness of Health Report, August 2023
This issue of HFMA’s Cost Effectiveness of Health Report, sponsored by Kaufman, Hall & Associates, LLC, features an expert-reviewed article that examines lessons learned after two years of price transparency regulations. Also included is a commentary that highlights a new initiative focused on the problem of homelessness, in which healthcare providers can play a meaningful role. Price…
HCA CFO, William Rutherford, says healthcare finance leaders should have a patient focus
To be able to consistently perform at the highest levels, health system CFOs must have a strong commitment to clear and specific guiding principles. So says William Rutherford, CPA, CFO and executive vice president of Nashville, Tennessee-based HCA Healthcare, the largest healthcare system (by gross and net revenues) in the United States. And for Rutherford,…
Cost Effectiveness of Health Report, September 2023
This issue of HFMA’s Cost Effectiveness of Health Report, sponsored by Kaufman, Hall & Associates, LLC, leads off with an article discussing the potential for new payer-provider partnerships to address quality and cost shortcomings of the nation’s healthcare system. Payer-provider partnerships Thriving post-reset: Payer-provider partnerships after the pandemicSponsored by Kaufman HallBy John Poziemski and Joyjit Saha ChoudhuryNew…
Thriving post-reset: Payer-provider partnerships after the pandemic
In the pre-pandemic era, payer-provider partnerships were often focused on aspirational goals of creating partnership value by managing costs of care and delivering high-quality care. Payers and providers aimed to drive differentiation and growth through these partnerships. In today’s more challenging macro-economic environment, these conversations are becoming more direct and practical, with both payers and…
Cost Effectiveness of Health Report, April 2023
This issue of HFMA’s Cost Effectiveness of Health Report, sponsored by Kaufman, Hall & Associates, LLC, explores how a focus on fitness can promote health and deliver value for patients. Also included are reports on recent developments in the nation’s efforts to address health equity social determinants of health. Value-based care and fitness Why promoting health and…
How the CEO of Mark Cuban Cost Plus Drug Co. aims to upend the PBM model
W hen Alexander Oshmyansky, MD, PhD, pitched the idea of a not-for-profit drug company that would undercut drugmakers’ excessively priced pharmaceuticals, he was soundly rejected by potential backers, attracting no outside money. But on the advice to try to create a for-profit company instead, and with the later backing of Mark Cuban, things started to happen.…
Bank failures highlight importance of measuring counterparty risk
The recent failures of Silicon Valley Bank and Signature Bank have focused attention on an often-overlooked issue: bank counterparty risk. From a treasurer’s perspective, banks are much more than account-holding institutions. They provide an array of critical payment and collection services, and the impact of losing access to these services cannot be overstated. The Federal…
Norton Healthcare and other health systems are making big moves to reduce health inequity
When Louisville police officers killed Breonna Taylor, a young Black woman not suspected of any crime, in her home in March 2020, the president and CEO of Norton Healthcare took it personally. “As an employer of 18,000 people and a very prominent organization in our community, we needed to be the ones to step up…