Healthcare Finance Leaders Share 7 Cost-Cutting Strategies

Compliments of Becker's Hospital Review. Hospitals and health systems increasingly face financial pressures from dwindling reimbursement, increasing competition, deteriorating payer mix and other factors. Due to these pressures, reducing costs is at the forefront of healthcare finance leaders' minds, whether they are at a rural, nonprofit, urban or safety-net organization. Here, executives from various types… Continue reading Healthcare Finance Leaders Share 7 Cost-Cutting Strategies

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Next-Gen Cloud Computing: How Healthcare Can Prepare for the Future

Compliments of Healthcare IT News.  Don’t leave it up to tech vendors to drive the next phase of integrated data that gets channeled between doctors, payers, providers and patients. There has been a notable shift in healthcare clouds from simple data storage to using the technology to lower costs, gain efficiencies and even move on… Continue reading Next-Gen Cloud Computing: How Healthcare Can Prepare for the Future

How Hospitals Bring in Revenue Through the Healthcare Supply Chain

Compliments of RevCycle Intelligence. Selling unused and retired items and equipment allowed a Colorado-based health system to transform its healthcare supply chain into a moneymaker. The healthcare supply chain is a cost center for provider organizations of all sizes. Through the supply chain, healthcare organizations spend money on the items and supplies they need to… Continue reading How Hospitals Bring in Revenue Through the Healthcare Supply Chain

Top 5 Ways to Optimize Healthcare Revenue Cycle Management

Compliments of RevCycleIntelligence. Financially clearing patients is becoming an important part of revenue cycle management, as it helps hospitals and clinics avoid debt collection. Revenue cycle management remains relatively elusive in the new healthcare landscape, as new regulations and reforms have led the industry to evolve and left many hospitals scrambling to keep their revenue… Continue reading Top 5 Ways to Optimize Healthcare Revenue Cycle Management

Exploring the Strategic Benefits of a Move to the Cloud

Compliments of Healthcare IT News.    Healthcare IT managers are making the move to the cloud one step at a time, evaluating the success of each migrated application before preparing the next move. Healthcare organizations traditionally are cautious in their approach to new technologies. With good reason, of course. Healthcare IT supports a mission that… Continue reading Exploring the Strategic Benefits of a Move to the Cloud

Hospitals ‘Can’t Afford Not To’ Provide Value-Based Care

Compliments of Modern Healthcare.   The calls for health systems to ditch fee-for-service payment in favor of value-based models were downright urgent at this year's Healthcare Financial Management Association conference in Las Vegas. "We can't afford not to make the change," David Hammer, a principal in Healthcare Performance Management Consultants' revenue cycle and managed-care practice in… Continue reading Hospitals ‘Can’t Afford Not To’ Provide Value-Based Care

How Big Data is Forcing CFOs to Become More Innovative and Resilient

Compliments of Healthcare Finance.   Finance executives are finding they need to become more adept at data-driven analytics to better manage risk and spot new business opportunities. Big data is all the rage, right? Perhaps, but many finance executives in healthcare and other industries are on the verge of drowning in it and that means having… Continue reading How Big Data is Forcing CFOs to Become More Innovative and Resilient

63 Financial Benchmarks for Hospital Executives

Compliments of Becker's Hospital Review.   Hospital leaders across the nation use benchmarking as a way to determine the areas of their business that need improvement. The continuous process of benchmarking allows hospital executives to see how their organizations stack up against local and regional competitors as well as national leaders. Here are 63 benchmarks related… Continue reading 63 Financial Benchmarks for Hospital Executives

The No. 1 Priority for Hospital CEOs? Cost Control.

Compliments of Becker's Hospital Review.   Cost control surpassed revenue growth as the top priority for hospital and health system CEOs in 2018, according to the Advisory Board's Annual Health Care CEO Survey. The nationwide survey, conducted between December 2017 and March 2018, included the responses of 146 C-suite executives from hospitals and health systems. Sixty-two percent of those… Continue reading The No. 1 Priority for Hospital CEOs? Cost Control.

Key Terms, Components of Payer Contracts Providers Should Know

Compliments of RevCycleIntelligence.    Understanding the terms and provisions in a payer contract is key to maximizing reimbursement, preventing denials, and operating a smooth revenue cycle. Providers are in the business of keeping their patients healthy. But confusing payer contracts riddled with “legalese” and other complicated provisions can get in the way of improving patient… Continue reading Key Terms, Components of Payer Contracts Providers Should Know