Baylor Scott & White Revamps Patient Payment Processes, Saves $1.5M in Agency Fees
A Dallas-based health system increased POS collection by incorporating more up-front discussions on patients’ out-of-pocket costs and offering more payment options.
New Survey Finds Current Cost Transformation Initiatives Lack Required Urgency
Healthcare executives responding to a recent survey overwhelming agree that transforming costs is a “significant” or “very significant” need, but more than 50 percent have no cost reduction targets for the next five years or have a goal of 1-5 percent—a range that is far below what will be required to transform cost structures.
Using Artificial Intelligence to Reduce Long-Term Care Costs and Improve Patient Outcomes
A two-year study found that technological support for assisted living facility caregivers resulted in a 45 percent increase in patient aging in place, allowing for better quality of life for residents and cost savings of approximately $50,000 per patient per year.
Targeted Care Integration Can Help Drive Success Under Risk Contracts
Providers can avoid many of the missed opportunities associated with risk contracts by carefully reviewing the targeted patient population, narrowing the number of performance metrics, and selecting the right clinicians to participate.
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.
Video: The Future of the Revenue Cycle
HFMA and Navigant surveyed 125 hospital and health system CFOs and revenue cycle executives to learn about next-generation revenue cycle management trends. Erick McKesson, director for Navigant, summarizes the findings in this video.
HFMA Trendsetter: Tackling Bundled Payments
This article shares how Premier Inc. helped Adventist Health System successfully navigate bundled payment initiatives by offering a dynamic collaborative led by seasoned experts and user-friendly analytics that enable evidence-based decisions.
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.