4 crucial health system responses to the revenue impact of COVID-19
The nation's hospitals and health systems have a critical need to begin preparing now for the long-term financial impacts of the COVID-19 pandemic.
How to apply a value equation in setting compensation for specialty providers
An effective value-based compensation system for surgical specialists should not only account for the physician’s service, quality of care and financial performance, but also the extent to which the physician exhibits high standards of citizenship.
CMS Administrator Seema Verma receives HFMA’s Board of Directors Award, talks with CEO Joe Fifer
At HFMA's Digital Annual Conference, President and CEO Joe Fifer presented CMS Administrator Seema Verma with the Association's highest honor: the Richard L. Clarke Board of Directors Award in recognition of her outstanding contributions to healthcare in a role that involves oversight of a $1 trillion budget, representing 26% of the total federal budget, and administration of health coverage programs for more than 130 million Americans. Following the presentation, Fifer and Verma had a Q&A session in which she addressed price transparency, the pandemic, and the future of value-based care.
How to build a resilient not-for-profit healthcare company
To build a resilient organization that can withstand adverse changes to its core business model, leaders should create a foundation for absorbing first shocks of dislocation by breaking the company into three components: an operating company, finance company and investment company.
Healthcare organizations should expect a surge in managed care audits and reviews in the COVID-19 aftermath
Healthcare providers should prepare for emerging trends in payer audits, reviews and associated information requests, after the brief lull in such activities that occurred with the onset of the COVID-19 pandemic.
How to lay the foundations for success under CMS’s new MDC program
The CMS Medicare Direct Contracting (MDC) program offers hospitals and health systems a unique opportunity take the next step in value-based payment and population health management. Success requires the right targeted investments in expertise and infrastructure.
3 contracting strategies to accelerate a COVID-19 financial recovery for providers
Having suffered significant losses due to the COVID-19 pandemic, healthcare providers require effective strategies to achieve a more equitable balance with payers, which have actually enjoyed a financial windfall as a result the pandemic.
Telemedicine is exploding, but where is the ROI for health systems?
Telehealth is well on its way to having much broader acceptance and use than was seen at any time prior to the COVID-19 crisis. Yet there continue to be barriers and challenges in its widespread adoption.
Healthcare leaders must take multitasking to an enterprisewide level
The extent to which hospital and health system executive teams can multitask will be a determining factor in whether these organizations will succeed in continuing to manage the ongoing operational and financial threats from the COVID-19 pandemic.
5 factors that will make the next recession different from 2008
Hospitals came through the Great Recession relatively unscathed, but a future recession would likely pose much more severe challenges. It therefore would be prudent for hospitals to act now to protect themselves against future market distress.