Level of Costing Detail in Aurora’s System
Aurora Health Care developed detailed categories for its cost accounting initiative by considering the future and estimating how health system leaders would want to use the data in the future.
Top 5 Factors Essential for Pharmacy Revenue Integrity
Maintaining pharmacy revenue integrity requires accurate, longitudinal data; physicians who understand how their prescribing decisions affect revenue integrity; and real-time data. With that information, finance leaders can determine the ROI of various drugs.
How Innovation Can Start with Value Analysis … But Often Doesn’t
Value analysis committee ROI calculations must look beyond the immediate economic costs of payment, cost-per-procedure, and cost of labor to consider overall value to hospitals. For example, questions to ask include, “How does a new product help to reduce the overall cost of care?” and “Are there complications and readmissions that typically arise beyond 30 days that the new product aims to minimize?”
Overcoming Missed Opportunities with Forward-Thinking VACs
VACs can be influential forces in infusing greater quality and cost controls over departmental purchases.
The Advantages of Change in Pharmaceutical Management
Robert Miller suggests improvements for supply chain management in hospital pharmacies.
Christiana Care Avoids $100M In Costs by Improving Quality, Cutting Waste
Leaders at Christiana Care have reduced waste by ensuring appropriate use of telemetry and modifying their electronic health record to eliminate ordering of automatically recurring lab tests. They also have improved outcomes by better managing blood products and using a care management tool to target at-risk groups.
Caregiver Support May Help Reduce Costs
Family caregivers’ fatigue was associated with $1,937 higher costs while caregiver sadness was associated with $1,323 higher costs during a six-month period. Patients with severely fatigued caregivers also were more likely to visit the ED.
How Is Your Hospital Managing Costs Across Its Physician Enterprise?
Several factors have challenged achieving a more comprehensive view of costs at the physician enterprise level, including governance, data sharing, and financial performance expectations.
Hidden Costs of Duplicate Patient Records
Accurate patient data is more important than ever as value-based payment models take hold. An enterprise-wide database is one solution to avoid duplicate patient records that negatively affect productivity and costs.
Leading Hospitals Turn to Advanced Strategies for Pharmacy Savings
Organizations like Froedtert Health and Intermountain Healthcare are working on both internal and collaborative strategies to reduce pharmacy costs and improve clinical care.