Hospitals reached steadier ground financially as they moved into 2024
Hospitals came into 2024 with some financial momentum, even as expenses continued to rise and pivotal decisions loomed. The year-to-date median hospital operating margin reached 2.3% in December, the high mark for 2023 and the 10th consecutive month in which margins were positive, according to monthly data from Syntellis Performance Solutions, part of Strata Decision…
We all have trauma. Here’s how to take it to work in a healthy way.
Dr. Sadie Elisseou, a practicing VA physician and instructor at Harvard Medical School and Boston University School of Medicine, talks about trauma-informed healthcare in and out of the exam room.
10 keys to restoring trust in healthcare: a summary
Note: This article was adapted from a report on HFMA’s 2023 Fall Thought Leadership Retreat. The full report is available for downloading. The issue of restoring consumer trust in the U.S. healthcare system encompasses a wide range of concerns. Factors in the perceived loss of trust include anxiety and confusion over costs, entrenched inequity, misinformation…
Sanford Health selects Scott Wooten as CFO
Following a comprehensive national search, Sanford Health in Sioux Falls, South Dakota, has named Scott Wooten, MBA, FACHE, as executive vice president and CFO. Wooten is a seasoned finance leader in the nonprofit healthcare sector. Prior to joining Sanford, he led Wooten Strategic Advisors, providing consulting services to physician groups, health systems, insurance companies, retail…
Jill Geisler: 8 proactive ways to keep your top performers engaged
Here’s to the best performers on your team. Their high standards, reliability, creativity and problem-solving skills are a joy to behold. They’re your self-starters, your pacesetters, your go-to people — the ones who’d leave a big hole in the operation if you lost them. And you surely don’t want to lose them. That’s why managers…
Dennis Dahlen: New year, not-so-new struggles call for revamped approach
In January, 8,000 investors, innovators and market participants gathered in San Francisco for the J.P. Morgan Healthcare Conference. This gathering has become a required event for healthcare leaders to take stock of the industry. You could feel the pulse of the conference accelerate during key moments, like when comments from an FDA regulator led to…
Alan Lovelace: Healthcare CFOs require stamina to respond to post-COVID pressure
What can modern hospital or health system CFOs do to keep their organizations on a stable financial footing in the financially fraught post-COVID-19 era? In answering this question, most CFOs will begin by telling horror stories and tales of woe involving revenue squeezes and expense proliferations. Pressures come from everywhere, including: It’s tough being a…
Downgrades topple upgrades: 5 key takeaways from rating activity in 2023
As expected, 2023 saw a material increase in downgrades over 2022 while the number of upgrades declined from the prior year. Volume showed favorable growth for many hospitals during 2023, although some indicators remained below prepandemic levels. Other hospitals reported a payer mix shift toward more Medicare as the U.S. population continued to age and…
Honor Roll: HFMA certifications were awarded to 1,877 members Oct. 1, 2023 – Dec. 31, 2023
HFMA offers eight certifications for members to validate their expertise and demonstrate their commitment to the profession. The HFMA certifications are as follows: Certified Healthcare Financial Professional (CHFP), Certified Revenue Cycle Representative (CRCR), Certified Revenue Cycle Representative (CRCR) – GCC, Certified Specialist Accounting and Finance (CSAF), Certified Specialist Business Intelligence (CSBI), Certified Specialist Physician Practice…
Healthcare News of Note: 4 in 5 healthcare leaders received credible job offers in early 2023; what kept most of them from jumping ship?
Over the past few weeks, I have found these recent industry news stories that should be of interest to healthcare finance professionals. 1. Culture and compensation were the top reasons why most healthcare leaders did not of accept ‘viable’ job offers in early 2023 Although four of five healthcare leaders received viable job offers in…