Accounting & Financial Management
While some health systems are reluctant to publish prices without reforms of insurance practices and proper context for patients, some are trying to embrace transparency as a new model. Washington State's Everett Clinic is one of those pioneers.
In the past, hospitals had one role: deliver care. But in recent years, some of the largest hospitals and health systems have assumed the financial risk of delivering care. In the past, hospitals had one role: deliver care. But in recent years, some of the largest hospitals and health systems have assumed the financial risk of delivering care.
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.
HCA's bet on walk-in clinics in a bustling metropolitan area is the latest evidence of the urgent need to improve and diversify the customer experience.
It's never been more difficult for healthcare providers to collect payment for services provided. These recommendations will help you get the most from your efforts and avoid costly mistakes.
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 Texas hospital that wrongfully discharged now deceased Ebola patient Thomas Eric Duncan is already experiencing financial repercussions from the clinical slip-ups associated with the deadly virus.
Like healthcare facilities across the country, Louisiana's hospitals must confront formidable financial challenges as care delivery models evolve and reimbursement mechanisms change.
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.
Flexing its anti-kickback muscles, the federal government is clamping down hard on some profit-focused patient referral and healthcare joint venture practices.