Return on Analytics: Addressing the ‘Signals’ in the ‘Noise’
A healthcare organization’s ability to sustain high-value care delivery and ensure its long-term strategic financial viability depends on how effectively it applies data analytics to inform improvement efforts related to quality, cost, and patient experience.
Toward a More Effective Way of Validating Cost Data
Although there are no industry standards for measuring costing accuracy, financial analysts can take steps to ensure the cost number accurately reflects to the true cost of an item.
Managing Mental Health in the Workplace: A Strategy to Retain Employees
The head of a medical billing company implemented policies to support her employees’ mental health, including various accommodations as recommended by the Americans With Disabilities Act.
Price Transparency: The Time Is Now
It is past time for healthcare leaders to start providing greater price transparency for consumers, regardless of the challenges and obstacles to doing so, writes HFMA President and CEO Joseph J. Fifer.
Kaufman Hall: 5 Key Learnings from HFMA’s Financial Analytics Leadership Council
Tips-focused article about the role of data governance and how to establish a strategy. Key points pulled from the HFMA Financial Analytics Leadership Council.
Beyond the Mandate: Better Strategies for Price Transparency
Some healthcare organizations have taken the spirit of new price transparency regulations a step further by striving to inform patients in advance about their true out-of-pocket costs for care.
Telehealth Use Among Medicare Patients Limited but Growing
Growth in telehealth use among Medicare beneficiaries is occurring in patients 85 years and older and living in rural areas.
Aligning Executive Compensation to Strategic Priorities
As hospital boards and executives embark on transformational strategies like clinical integration and population health management, finance leaders are key in helping to set performance targets that are appropriate relative to industry-wide statistics as well as past performance.
Healthcare Predictions Focus on Innovative Corporate Structures and Alternative Financing
An alternative corporate structure called a “benefit corporation” is at the center of one of 10 predictions issued by BDO. Two others one related to telemedicine and the other related to sources of alternative capital pertain to hospital finance.
An ‘Outside View’ Helps Achieve Return on Analytics
An “outside view” can counter biases and organizational pressures that can skew internal decision-making processes. It also provides a framework for target setting that helps define realistic expected returns.