Hospital Finance

Unlocking Positive ROI in Healthcare: The Transformative Power of iRISecure Software

February 20, 2024 / Tissue Management, Cost Reduction, Hospital Finance /

In today’s healthcare landscape, where hospitals face mounting pressure to balance regulatory compliance, patient care quality, and financial sustainability, maximizing return on investment (ROI) is paramount. One area where hospitals can significantly enhance their ROI is through the adoption of innovative technology solutions like iRISecure software. Let’s explore how iRISecure is revolutionizing healthcare operations by […]

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Navigating the Complexities of ST91: A Focus on Endoscope Drying Guidelines

January 16, 2024 / Hospital IT, Hospital Finance, Managing Endoscopes /

The introduction of ST91 guidelines has significantly impacted healthcare facilities, particularly those performing endoscopic procedures regularly. Among the crucial updates is the recommendation for drying endoscope channels for a minimum of 10 minutes, utilizing pressure-regulated forced instrument air. This requirement aims to enhance the reprocessing of flexible and semi-rigid endoscopes, promoting patient safety. However, implementing

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Streamlining Hospital Operations: How RFID Cabinets and iRISupply Enhance Inventory Management

April 2, 2024 / Hospital Finance, Revenue Cycle, The Business of Surgery /

In the dynamic world of healthcare, efficient inventory management can make all the difference in delivering quality patient care and maintaining a financially sustainable operation. Hospital administrators and clinicians alike understand the challenges of keeping track of a vast array of supplies, devices, and implants. In this blog, we’ll explore how the combined power of

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How a Software Solution Can Help Automate the Bill-Only Item Process in Hospitals

October 12, 2021 / Supply Chain, Clinical Documentation, Hospital Finance, Revenue Cycle, The Business of Surgery /

The healthcare supply chain has come a long way over the past few decades. For most hospitals, the supply chain included mainly manual processes for obtaining resources, managing supplies, and delivering goods and services to providers and patients. Because there are thousands of products and services that go through a hospital’s supply chain, along with

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How Hospitals Can Help Offset the Rising Costs of Heart Valve Replacement Surgery

October 12, 2021 / Hospital Finance, Hospital Management, Operational Efficiency, Patient Safety, Supply Chain, The Business of Surgery /

Due to an aging population, the number of patients with heart valve disease requiring valve replacement is expected to rise, reaching more than 800 000 annual procedures worldwide by 2050. The total cost of these surgeries is expected to grow by 10% through 2025, reaching over $10 billion. The cost of an average heart valve to

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The Growing Cost of Medical Implants and How Proper Inventory Management Can Help

September 15, 2021 / Hospital Finance, Hospital Management, Operational Efficiency, Patient Safety, Supply Chain, The Business of Surgery /

Costs of medical implants are growing rapidly and according to one recent estimate, the medical implants market reached $89.2 billion in 2020 and is growing at 6.5% annually. As implants are a required, rapidly growing expense for the healthcare industry, hospitals should manage their implant inventory consciously. Surgery is an expensive and complicated endeavor, and

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Nurses Face Severe Challenges With Supply Chain Issues

October 12, 2021 / Hospital Finance, Hospital Management, Operational Efficiency, Patient Safety, Supply Chain, The Business of Surgery /

A new survey conducted by Sage Growth Partners revealed that a vast majority of nurses feel overwhelmed with supply management tasks and are looking for better software tools to help alleviate the burden. The survey reached out to over 100 nurses – 50 nurse leaders and 50 front-line nurses – and asked them a series

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How Supply Chain in the Healthcare Industry has Evolved, and Where It’s Going From Here

April 16, 2021 / Hospital Finance, Revenue Cycle, Supply Chain, The Business of Surgery /

Healthcare supply chain management has come a long way. Just a decade ago the supply chain in hospitals included mainly manual processes for obtaining resources, managing supplies, and delivering goods and services to providers and patients. Now, most hospitals no longer rely on manual processes to keep track of their supplies. While there are still

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How One Hospital Used Data To Cut Its Endoscope Reprocessing Time In Half

October 12, 2021 / Hospital Finance, Hospital Management, Managing Endoscopes, Operational Efficiency /

High-quality endoscope reprocessing is paramount for patient safety, but hospitals must also make sure that they are being efficient in reprocessing to maintain a profitable operation. Many patient safety hazards can occur if a single process is skipped or mishandled, so hospitals must be thorough in their processes. As hospitals are continually trying to find

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Hospitals Are Being Penalized By CMS For Hospital Acquired Infections – How Can They Stop The Bleeding?

October 12, 2021 / Hospital Finance, Hospital Management, Infection Control, Patient Safety /

The Centers for Medicare and Medicaid Services (CMS) has released its list of penalized hospitals for 2021 under its Hospital-Acquired Conditions Reduction Program. This year’s list includes 774 hospitals that will have their Medicare payments cut by 1% for the remainder of the year. The 774 hospitals represent the bottom quartile of hospitals in terms

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