5 ways the ERM playbook for health systems is due for a rewrite
Business risk for health systems has continued to evolve amid huge changes affecting the industry, including those driven by COVID-19. Health system leaders should respond by revisiting their approach to enterprise risk management (ERM) to focus on five areas of risk where their ability to deliver healthcare cost effectively could be compromised: Labor shortages, capital planning amid ongoing change, energy consumption, cyber security and price transparency.
Federal government, American Hospital Association issue warnings and guidance about cybersecurity threats stemming from the conflict in Ukraine
The potentially heightened risk stems from the possibility both of being targeted directly and being impacted by malware that spreads from other sectors.
Healthcare providers face a growing risk of violating debt covenants
COVID-19 has increased the financial strain on healthcare providers that puts them at risk of being noncompliant with lending covenants. They should be taking proactive steps now to avoid or mitigate the potentially severe adverse financial consequence of such an occurrence.
4 essential tactics for sustaining an independent community hospital
Independent community hospital face threats to their survival, and they need to take deliberate action to address those threats in order to continue to deliver essential care cost effectively to their communities. Leading community hospitals that are committed to remaining independent share the tactics they have adopted to ensure their independence is sustainable
Healthcare News of Note: The negative impact of work on health and well-being is the No. 1 reason nurses gave for why they are planning to leave their job
Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Negative impacts of work spur nurses’ plans to leave their jobs, annual healthcare spending is higher than ever for insured individuals, and climate change is having a negative effect on human health.
News Briefs: CMS plans to reinstate policies pertaining to the inpatient-only and ASC covered-procedures lists
A roundup of the top news affecting healthcare finance professionals.
Healthcare News of Note: Brigham and Women’s home hospital program freed up 419 beds during early COVID-19 surge, study shows
Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Hospital-at-home can be part of a pandemic playbook, most Americans believe nurses are underpaid, and healthcare is second to technology for DDoS attacks.
Fitch describes the heightened risk posed by cyberattacks on not-for-profit hospitals
Cyberattacks on NFP hospitals increased substantially during the COVID-19 pandemic and show no signs of abating, Fitch says.
The other supply chain issue revealed by the pandemic: Generic drugs
HFMA President and CEO Joe Fifer discusses the need for hospitals and health systems to diversify the generic drug supply chain.
Healthcare News of Note: More ransomware attacks mean hospitals and health systems will likely have to increase investment in IT security
Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: A jump in ransomware attacks may move hospitals to increase IT security, surprise-billing concerns prevent some from seeking the COVID-19 vaccine, and physician shortages spur plan to allow more international candidates.