Strategic Planning
A number of hospitals are getting into the surgery center business as inpatient surgery cases continue to decline. For hospital CFOs contemplating a surgery center acquisition, there are a number of considerations to take into account.
Two health systems set to merge want to "reimagine" healthcare and bring it to the masses, and in a fairly crowded metropolitan area they need economies of scale.
Insurance industry margins are only about 5 to 6 percent and it is a notoriously difficult business to run. Still, providers are increasingly moving into the insurance industry, and for some, it has been a good addition to their business model.
Characterizing patients as non-compliant has long been an excuse for physicians not fully engaging people, but that needs to change. Patient engagement activities are increasingly important, as practices get more involved in value-based care models such as accountable care organizations.
Following an "industrial model of care," New York's Westmed Medical Group analyzes data from more than 2,200 processes and procedures to drive accountability and results. This has led to 15-fold growth and $285 million in annual revenue.
The Lean process improvement philosophy can bring significant cultural change to a healthcare organization, if there is strong support from the C-suite. But what happens when a Lean-supporting CEO departs? Here is a cautionary tale.
More than 80 percent of hospitals in the U.S. expect to be engaging in sustainability purchasing within two years, according to a recent survey. For the hospitals that expect to jump on the green bandwagon, there's a lot to learn.
The hospital merger wave may have slowed down a bit, but for health systems facing financial challenges and looking to evolve clinically, it's still an option for consideration.
Though over 30 states have passed or proposed legislation to increase healthcare price transparency, and released median prices for specific services, many supporters of price transparency have pushed for more detailed data.
When assessing CFO candidates, hospitals today are seeking "true financial leaders" who can be strategic partners to the CEO. A CFO leader needn't be a visionary, but they do have to be a "vision enabler."