How academic medical centers can foster greater alignment to advance strategic goals
The highly complex funds flow and diverse partnership structures of today’s academic medical centers (AMCs) make it difficult for leaders to align on important financial decisions. However, the evolution to value-based care and ongoing revenue challenges have inspired them to consider new approaches. As activity within AMCs continue to evolve, CFOs will play an important…
AI in healthcare: Boosting efficiency and addressing burnout
Most (90%) healthcare executives say that digital and AI transformation is a top priority, according to McKinsey research. While generative AI may have a number of uses across the healthcare system, its potential to enhance efficiency, effectiveness and alleviate burnout among healthcare professionals may be one of its most valuable uses for reshaping patient care.…
Premier’s ERP solution addresses unique needs of the healthcare industry
How do you help healthcare organizations navigate the biggest challenges in healthcare? Premier provides a truly healthcare-native, enterprise resource planning (ERP) cloud-based SaaS solution, integrating supply chain, contract management, financial reporting and human resources (HR) capabilities end-to-end. Unlike traditional ERPs built to support multiple industries, Premier’s solution addresses healthcare’s unique needs as follows. When issues…
How pre-bill automation positively affects efficiency and financial outcomes
Eighty-four percent of health systems report that lower reimbursement from payers is a top cause of low operational margins, according to an HFMA survey. Hospital revenue cycle leaders understand that not only are reimbursements lower, but if there are any errors or inefficiencies in coding bills that can also lengthen the process of getting paid.…
Healthcare’s leadership challenge: balancing immediate needs with future readiness
Amid rising financial challenges and pressures to maintain high standards of care, a survey of healthcare finance professionals suggests leaders are more focused on directing resources toward financial sustainability strategies and compliance than innovation. The findings raise concern that leaders are overemphasizing financial viability and regulatory compliance over investments that could transform care delivery and…
Revenue cycle leaders: How they optimized financial performance for outpatient and ancillary services
Over the last decade, outpatient and ancillary services have typically yielded high profit margins for healthcare organizations. However, today’s organizations cannot ignore consumers’ demand for low-cost, high-quality care. This, coupled with inflation and, per updated Peterson-KFF data, an increase in the cost of hospital outpatient services by 8.3% specifically, has opened the door for lower-cost…
How healthcare leaders can automate workflows and improve financial performance
1. How do you help healthcare organizations navigate the biggest challenges in healthcare? Sage Intacct allows healthcare finance leaders to eliminate manual processes, automate workflows and improve financial performance across the organization. Sage enables multi-entity healthcare organizations to consolidate hundreds of entities in minutes. Not only does this simplify intercompany accounting, but it can also…
A people-centric approach powers successful digital transformations in healthcare
In the past few years, healthcare leaders have not only struggled with investment and adoption of new technology, but also have faced staffing shortages with nurses and physicians. Learn key questions and essential strategies to create a positive impact within your hospital or health system.
AP automation can help alleviate healthcare workforce shortages and optimize cashflow
Labor shortages will not abate anytime soon, and healthcare leaders must have a strategy in place to leverage automation to generate savings and promote operational stability. AP automation is one area ripe for opportunity.
What healthcare CFOs don’t know about cybersecurity — and what they should ask their CISOs
In 2023, the number of reported data breaches in the U.S. rose to an all-time high of 3,205, a 78% increase from 2022, while the average cost of a healthcare data breach hit $10.93 million. Read this article to learn what five key questions CFOs should ask CISOs to understand the threats and risks — and how to support resilience.