Budgeting
The ICD-10 transition budget will help you assess how much ICD-10 implementation will cost. It's going to cover the resources needed for training, testing, compensating for decreased productivity and support implementation activities.
I am heartened by the release of the Report of the State Budget Crisis Task Force, which highlights the fact that state finances are a mess and likely to get worse. The report identifies six big threats.
As recent studies have shown, health systems across the country are increasing their IT spending in the next five years or so. Given that, it is imperative that chief information officers and chief financial officers partner to create strategic budgets said a CIO and CFO during an education session Tuesday at HFMA's national conference in Las Vegas.
With an increasing number of healthcare organizations realizing they need to focus on labor costs, their largest operating expense, technology companies that provide budgeting and forecasting software are bringing the accurate data and predictive information to organizations right when they need it most.
A broad survey of organizations within the healthcare industry show that pay increase budgets -- the money allocated primarily for pay raises of existing employees -- rose a modest 2.5 for 2012, according to Compensation Data Healthcare from Compdata Surveys.
In its Spring 2012 Economic Outlook report, Premier healthcare alliance reported that impending reimbursement reductions and uncertainty around the potential impact of health reform will likely lead to more conservative hospital capital budget expenditures for the year.
Hospital audits conducted through the Centers for Medicare & Medicaid Services' Recovery Audit Contractor (RAC) program are usually handled by compliance departments and are generally managed by a single full-time employee (FTE), according to a new survey from the Health Care Compliance Association (HCCA).
Carmela Coyle, CEO of the Maryland Hospital Association, discusses the effects of the economic recession on Maryland hospitals in this brief video posted in the American Hospital Association's YouTube channel.
In this video, posted to YouTube by the AHA, Baptist Health CEO Hugh Greene discusses the impact of the ailing economy on his Jacksonville, Fla.-based facility.