Russ Banham is an award-winning journalist and best-selling author who is known for writing histories of some of the world's largest corporations. Learn more at www.russbanham.com.
Hospitals are just beginning to catch on to the promise of integrated data analytics to manage patient population health and measure treatment outcomes. These benefits not only assist the transition toward patient-focused care, they're helping healthcare institutions reduce associated costs.
As healthcare reimbursement shifts from a system that rewards quantity of care to quality of care, the onus is on the CFO to determine where best to allocate financial resources and how best to pare them.
Six months after merging to become the second-largest not-for-profit U.S. healthcare system, CHE Trinity Health is beginning to enjoy the strategic benefits promised by the union. The key factor driving the strategic rationale of the merger was the shared culture of both enterprises.
To be successful, a hospital must acquire physician practices able to work in a world that is essentially foreign to what they are used to. The 'new normal' is based on value, outcomes and patient satisfaction.
Eliminating a traditional management exercise as old as the budget may seem risky to hospital CFOs, but many businesses have done just that. Some say using a 19th-century tool to manage a 21st-century organization makes little sense.