Tissue and related specimens present a unique tracking challenge for hospitals and surgery centers – these often expensive and occasionally one-of-a-kind items are required to be closely monitored during the hospital’s handling of each unit. The US Food & Drug Administration (FDA), state Departments of Health and hospital accreditation bodies, such as The Joint Commission […]
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Flexible endoscopes present a unique challenge for hospitals to track and manage – these expensive medical instruments must be quickly re-processed after usage in order to provide the required instrumentation for the next procedure, yet they must undergo rigorous, time-consuming reprocessing after every use to ensure the highest levels of patient safety. Due to different
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As we head into 2018, there appears to be a lot of headwinds facing hospitals and healthcare systems: regulatory uncertainty around the Affordable Care Act, slowing patient admissions, accelerating costs and shrinking margins. Moody’s Investor Services predicts bad debt to grow 6-7% in 2018 and operating cash flow for non-profit hospitals to shrink 2-4%. In
3 Cost Containment Ideas For Hospitals Heading Into a Challenging Environment In 2018 Read More »
Hospitals and healthcare systems across the US have spent billions of dollars per year over the last decade implementing electronic medical record (EMR) systems across their operations. A lot of the promise of EMR systems for hospitals is the data that they can collect that can be used for a wide range of analyses: cost
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As healthcare providers continue to pursue the triple aim, leading hospitals are turning to data analytics to identify major areas for improvement in daily operations. All three of the triple aim objectives – patient experience, population health and cost – can be attacked in various ways by analyzing high fidelity data for trends and patterns.
Using Analytics to Improve Quality and Lower Costs Read More »
With the constant shift in the payor environment, and the continuing consolidation of the hospital market, many healthcare providers are having to search for new ways to cut costs and increase revenues just to stay profitable. There are so many places that hospitals can unlock additional dollars, but where should they start? The management team
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Hospitals continue to focus on clinical documentation improvement (CDI) efforts to capture revenue that they may be missing today. With the healthcare payment market continually in flux, not a dollar can slip through the cracks with the narrow margins that most hospitals are operating at. Having a robust CDI program is one way hospitals are
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A recent study by the Advisory Board Company found that the average 250-bed hospital in the US lost between $4.7 and $11.3 million in 2016 from revenue loss in the midcycle. Advisory Board defines the midcycle as the revenue cycle functions that happen between patient enrollment and the back office – namely documentation, clinical documentation
Midcycle Revenue Loss May Be Costing The Average Hospital $11 Million Annually Read More »
University of Michigan Hospitals and Health Centers (U-M) in Ann Arbor, Michigan is one of the nation’s top medical centers, and was recently named the #6 hospital in the United States according to the 2016-17 Best Hospitals Honor Roll rankings by US News and World Report. As the main medical campus of the Michigan Medicine
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A recent survey by Kaufman, Hall & Associates has revealed that most hospital executives feel that they are falling short of their cost reduction goals. They survey of over 150 senior hospital executives revealed that 75% of the respondents felt that their cost transformation success has been average to below average. The move from volume
Falling Short of Your Cost Reduction Goals? You’re Not Alone Read More »