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 […]
How To Close A $25 Million Budget Gap In 10 Days Read More »
With the recent scrutiny placed on the Joint Commission (TJC) in publications like the Wall Street Journal, TJC has found itself on the defensive regarding its accreditations and how it holds hospitals accountable for safety violations. In response, TJC has been trying to open up a dialogue with the public about the importance of its
The Difference Between Passing a Joint Commission Survey and Continuous Improvement Read More »
For the past several decades in healthcare, inventory has been managed independently from the rest of the business of providing healthcare. When you step back and look at how supplies impact the business of providing healthcare, you’ll see that hospitals can benefit greatly from extending the visibility of supplies to clinical documentation and billing. Charges
Increasing Procedural Revenue Read More »
As discussed in a recent article, recalled medical devices continue to be a patient safety and financial concern for hospitals and insurers. A recent study by Medicare estimated that over a 10 year span, they spent over $1.5 billion on surgeries and follow-up for over 73,000 patients implanted with one of seven defective heart devices.
Medicare To Consider Tracking Unique IDs For Medical Implants Read More »
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
Improving Clinical Documentation By Engaging Physicians Read More »
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 »
The ECRI Institute, based in Philadelphia, has just released its annual list of health technology hazards for 2018. Unsurprisingly, endoscope reprocessing once again appears near the top of the list, coming in as the number 2 hazard for 2018. ECRI’s list is the result of extensive research by its own engineers, scientists and clinicians, as
ECRI Top Health Technology Hazards List Once Again Includes Endoscope Reprocessing 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
How Michigan Medicine Tracks Tissue To Meet Joint Commission Standards and Reduce Costs Read More »
Recalled medical devices continue to be a patient safety and financial concern for hospitals and insurers. A recent study by Medicare estimated that over a 10 year span, they spent over $1.5 billion on surgeries and follow-up for over 73,000 patients implanted with one of seven defective heart devices. With such a staggering sum spent
Why Tracking Down Patients With Recalled Implants Is Hard Even With Unique IDs Read More »
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 »