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.
Providence’s Deepak Sadagopan on value-based care and health system sustainability
Deepak Sadagopan of Renton, Wash.-based Providence has highlighted the ongoing labor crisis in healthcare, and the need for healthcare systems to reduce agency and increase network caregivers, while also focusing on reducing administrative needs in value-based care.
What the site-of-care shift for joint replacement means for hospitals
Hospital patient volumes mostly have been on an upswing since the worst of the COVID-19 pandemic, but certain trends represent cautionary tales for long-term finances. For example, the latest report (registration required) from Strata Decision Technology shows a year-over-year decline in August of more than 21% for inpatient primary knee replacement procedures. A shift to…
Purchased services are a mystery worth solving
Hospitals and health systems have made significant strides in supply purchasing. Supplies typically go through a standard purchase order process, are easily benchmarked and, at many organizations, have been centralized to take advantage of bulk, leveraged and consolidated discount opportunities. In contrast, purchased services are typically characterized as follows. Fragmented. They are typically not centralized…
Supply chain challenges could mount for hospitals amid extensive hurricane damage to a key facility (updated-10)
Updates Click on the dates to see updates at the bottom of this article page as follows: Dec. 19: An end-of-the-year update Nov. 27: An increase in allocations for customers Nov. 12: An update on when allocations will return to 100% Oct. 30: Insights on the changes to saline administration as a result of the…
Reports on healthcare labor trends indicate an improved outlook for hospitals
The labor picture continues to stabilize for hospitals even amid sustained high demand for healthcare services, according to new insights. In its latest labor tracker, Fitch Ratings reported that hospital staff payrolls have been steadily expanding and now represent a 6.7% increase relative to the pre-pandemic month of February 2020. Hospitals added 18,650 jobs per…
Medical device management: How to rein in elusive costs
This research paper shares the awareness, perceived value, and use of medical device management services by healthcare executives. It introduces the need for three capabilities: technology-enabled clinical engineering, clinical asset management informatics, and cybersecurity to achieve results.
How to re-engage hospitalists, rebuild care teams and improve LOS in the post-COVID environment
Healthcare teams are facing disrupted communication pathways and relationships due to the COVID-19 pandemic, leading to increased length of stay (LOS) and financial performance issues, but a back-to-basics approach with hospitalists leading care team rebuilding can help overcome these challenges.
Hospitals will get only a small bump in Medicare inpatient payments for FY25
Hospital representatives were less than excited about the rate update in Medicare’s FY25 final rule for inpatient care and long-term care hospitals. Published Aug. 1, the rule includes a 2.9% rate increase for acute care hospitals in the fiscal year that begins Oct. 1. The increase is derived from a 3.4% hike in the market…
The fate of the FTC’s ‘noncompete’ rule appears muddled after early court decisions (updated)
Aug. 20 update: This article has been updated with news that a court has halted the FTC’s rule from taking effect. See the update below. A highly scrutinized rule prohibiting employers from using noncompete agreements has received a mixed reaction in the courts during the leadup to its implementation. Set to take effect Sept. 4,…