Striving for Cost Optimization Instead of Cost Cutting
Cost optimization involves more than cutting a set percentage from the traditional targets, such as labor, real estate, or IT. Cost optimization is an enterprisewide effort, requiring leaders to reset their operational strategies and align with value-based payment models.
Benchmarking Helps OSF HealthCare Save $160M Annually
Spurred by a drop in operating income, OSF HealthCare embarked on a clinical and financial improvement initiative that has saved the organization $160 million each year.
A Holistic Approach to Reducing Hospital Readmission Rates
Main Line Health’s Barry D. Mann and Chinwe Onyekere describe the promising results the organization has seen from a volunteer program in which medical students serve as advocates for underserved patients.
Modeling the Financial Benefits of a Physician Adviser Program
Elizabeth Lamkin and Larry Field, DO, describe how healthcare organizations can assess the efficacy of a physician adviser as part of strategic-planning efforts.
Modeling the Financial Benefits of a Physician Adviser Program
Elizabeth Lamkin and Larry Field, DO, describe how healthcare organizations can assess the efficacy of a physician adviser as part of strategic-planning efforts.
Transforming Medical Practices: Benefits of a Patient-Centric Approach
A medical practice’s strategy for success in today’s consumer-centric healthcare environment should be focused on reducing waste and addressing patients’ chief concerns at every point of contact with the practice.
Strategies for Successful Value-Based Partnerships
The Executive Experience session at HFMA’s ANI 2017 brought together leaders from finance, clinical medicine, and health plans to explore ways to partner in value-based care initiatives.
Charging Appropriately for Emergency Department Visits
To determine a fair charge for an emergency department visit, a hospital or health system must separate its costs into three categories.
Optimizing Financial Performance Under Value-Based Care
As they seek to adapt their organizations to the demands of value-based care, physician leaders can follow the example of participants in the Oncology Care Model.
A Physician’s Guide to Financial Management Basics
Being able to analyze an income statement can help physician leaders identify what actions to take when variances occur. Similarly, knowing how to make a business case can help physician leaders secure staff or equipment they may need for a particular initiative.