Revenue Cycle Management (RCM) is on the mind of many, if not all, hospital administrators and executives. With the roll out ICD-10 and the changes to reimbursement models, new RCM solutions are becoming critical for hospitals hoping to survive through 2015.
To an onlooker, it's easy to mistake a robust, high-tech hospital as a stable entity; however, hospitals face a myriad of high-pressure challenges. From juggling the changing healthcare system to the source of hospital funding, the obstacles faced by hospitals can be daunting.
Do physicians make the best hospital CEOs? Should hospital CEOs come from a business background? It's a debate that has been brewing in the healthcare industry for years and it doesn't have one answer. In 2014, only 5% of hospitals were run by doctors, while the majority of hospital administrators came from outside the healthcare profession.
One of the biggest misconceptions in medicine right now, which also happens to be one of the most costly, is that the patient’s care ends when they are discharged. The truth is, often times it’s what happens (or doesn’t happen) when a patient goes home that determines their outcome. Whether they end up readmitted or not, the key metric of 2015 is one that you might not even be aware you’ve been missing.
Here at BHM we are predicting that 2015 will be a year of change for many healthcare systems. With this change, healthcare leaders will be faced with many challenges, including complying with new federal regulations and making strategic moves towards better care. We've compiled a list of the five biggest challenges we foresee healthcare leaders facing this year.
In order for hospitals to be successful in 2015, there are a few very important issues that need to be addressed. Today, we'll address 5 of the most pressing issues that will help hospitals overcome the obstacles to success.
When it comes to hospital and health system revenue cycles, there are many strategies you can approach to help put things on a positive trajectory. Whether they are changes small or large, they all impact the organization's financial standing. But today, we've pulled together only the very best tips for increasing profitability.
At the top of every healthcare organization is the C-suite: The CEO, CFO, CIO...you get the idea. And thanks to their elevated positions, they have the power to make real, impactful change on the healthcare environment. Through their leadership, skill sets, and unique vision, the healthcare c-suite is helping move healthcare in new directions.
With so many options for healthcare accreditation, many healthcare leaders are asking themselves, "Which accreditation(s) is best for my organization?" One of those accreditation options is through The Joint Commission (formerly Joint Commission on Accreditation of Healthcare Organizations or JCAHO), which conducts unannounced inspections and ensures quality standards industry-wide.
When was the last time your organization performed a SWOT analysis? If you aren’t familiar with SWOT (strengths, weaknesses, opportunities and threats) it’s a widely used strategy in many industries, not just healthcare, for identifying areas for improvement. You can break SWOT down even further: Strengths: What sets your hospital apart from all the rest? What can you offer that makes you competitive? Weaknesses: What puts your hospital and employees at a disadvantage compared to other hospitals? What of these factors can you change? Opportunities: How can you show your strengths to others? Threats: What could cause big trouble for your hospital or employees?