John Andrews
Cost cutting is no longer a laudable aspiration in healthcare facilities - it is a way of life. At the center of this effort is the materials manager (MM) and it can be an unenviable position to occupy. One might even say MMs are between and a rock and hard place when it comes to their role in cost containment.
Business intelligence is finding myriad ways to improve the healthcare organization's bottom line, whether it's through clinical improvement, greater operational efficiencies or enhanced revenue cycle functionality, system designers say.
After two decades of dealing with a chronic labor shortage, healthcare has reached a crossroads – while a tight job market has produced plenty of applicants, finding and attracting top talent still remains a challenge, employment analysts say.
Healthcare provider systems are enduring more financial challenges than ever with lower Medicare reimbursement on the horizon, accountable care organization and pay-for-performance initiatives. In essence, provider revenues are shrinking while costs are growing, so it makes sense that they are relying on group purchasing organizations more than ever.
With the flip of the calendar to 2012, the ICD-10 implementation deadline of Oct. 1, 2013, suddenly appears very closer.
As with any important process, the healthcare provider’s revenue cycle has a distinct beginning – in this case it is the patient’s initial encounter. And it is at this critical juncture that providers must do everything possible to ensure that all the financial details are in order.
Hospitals and physicians are forging tighter relationships than ever before and the nature of those bonds sports various guises. While economics seem to be the main impetus for these new alliances, providers have many reasons for seeking closer ties, industry analysts say.
In a drive to become more consumer-friendly, healthcare providers are starting to focus their empathy on an area that has been problematic for years – patient bills that are difficult to understand. Not only do hard-to-read statements frustrate patients, they are depriving healthcare organizations from collecting revenues that are legitimately theirs, financial experts say.
Materials managers in healthcare are undergoing a metamorphosis, and this situation presents both opportunities and trials.
An adversarial relationship between providers and payers is counterproductive to the purpose of healthcare - with patients being caught in the middle.