Financial Analysis Archives - Page 6 of 9 - BHM Healthcare Solutions

3 Collection Leverage Strategies | Maximizing Bad Debt Collections

2017-04-02T13:28:34-04:00By BHM Marketing|Financial, Financial Analysis|

The best bad debt collection strategy utilizes three leverages, which "motivate" patients to pay a delinquent bill. 1. Independent Third-Party | Collection Leverage The first is the involvement of an independent third-party. Collection agencies create a situation where the debtor may or may not know what the collection agency is going to do to collect the debt. I call this the threat of the unknown. This creates an environment, which motivates some account holders to resolve their debt quickly and amicably.

The Penalty Box | CMS’ 3 Ways to Ding Hospitals

2017-04-02T13:28:35-04:00By BHM Marketing|Compliance, Financial, Financial Analysis, Health Care Reform, Medicare and Medicaid, Quality Improvement Programs, Readmissions, Services|

Are you one of many hospitals being dinged with CMS penalties? Are you ready to be dinged for Hospital Acquired Conditions, in addition to readmissions and value-based purchasing? How can a hospital remain profitable? In terms of hockey, the penalty box is where players are sent when they have committed an act which is against the regulations of the game. The player is forced to sit in the penalty box for a period of time, causing the team to play with less players, until the penalty time has lapsed.

8 Healthcare Provider Pain Points | What Are Your Pain Points?

2017-04-02T13:28:36-04:00By BHM Marketing|Clinical Analysis, Financial Analysis, Operational Analysis, Services|

What are your healthcare provider pain points? What are you doing to overcome them? What advice can you offer your colleagues? From a provider perspective, healthcare, as we know it, is changing rapidly. At times your head might be spinning when you think about the impacts of the Affordable Care Act as well as other healthcare legislation. How can you be sure the priorities you have established will help you comply and meet all established deadlines? What do you feel are the most critical pain points you are facing? You may be a physician’s office, you may be a hospital or healthcare system, you may be a rehab facility. All of these providers are experiencing similar issues, which vary from one degree to another. Let’s delve into a few of these.

6 Healthcare IT Pain Points | What Are Your Pain Points?

2017-04-02T13:28:37-04:00By BHM Marketing|Big Data, Clinical Analysis, Financial Analysis, Health Care Reform, Operational Analysis, Services, Telehealth and Telemedicine|

Healthcare technology is changing faster than most organizations can keep up. What are you doing to comply? Healthcare technology is a rapidly changing field. Some of the changes are required to comply with current regulations while others are to gain a competitive advantage. Lets’ delve into a few of these areas.

5 Healthcare Payer Pain Points | What Are Your Pain Points?

2017-04-02T13:28:37-04:00By BHM Marketing|Clinical Analysis, Financial Analysis, Organizational Analysis, Services|

As a payer, what type of pain points are you facing? How are you overcoming these challenges? With the onset of the ACA and other healthcare regulation, payers are experiencing many issues. Complying with these regulations is both cumbersome and costly. What pain points are you experiencing as a payer? Exchanges Healthcare exchanges became effective October 1, 2013. These exchanges are basically marketplaces where individuals can shop for insurance in one place - comparing plans, costs, and benefits. Many payers jumped on the bandwagon and joined the exchanges.

9 Criticisms to the Readmission Reduction Program

2017-04-02T13:28:37-04:00By BHM Marketing|Clinical Analysis, Compliance, Financial Analysis, Health Care Reform, Health Insurance, Medicare and Medicaid, Quality Improvement Programs, Readmissions, Services|

The Readmission Reduction Program is designed to reduce healthcare spending while improving quality. There are both proponents and opponents of the program. Let’s delve into the improvements that could be made to the current system. So, as most of you are aware, CMS under the direction of HHS created the Hospital Readmission Reduction Program in order to reduce healthcare spending while improving the quality of care. The program is being phased in beginning with a 3 year baseline period in which hospitals were required to report all readmissions (within 30 days). CMS assessed and analyzed all of the available readmission data to determine how penalties should be assessed, for which conditions, and excluding certain circumstances. Beginning in October 2012, penalties were assessed to over 2,200 hospitals, equating to about $280 million. The phase in included an increase in penalties from 2013 to 2015 from 1% to 3%, where it is currently capped. Initially, there were 3 conditions included: Acute Myocardial Infarction, Heart Failure, and Pneumonia. For 2015, CMS is proposing 2 additional conditions: Chronic Obstructive Pulmonary Disease and Elective Hip and Knee Replacements.

The Triple Aim, Explained.

2017-04-02T13:28:38-04:00By BHM Marketing|Financial Analysis, Health Care Reform, Quality Improvement Programs|

With hospitals moving toward a value-based payment system there is more demand now than ever for strategies that will help healthcare systems hone in on population health. The Triple Aim, an initiative set forth by the Institute for Healthcare Improvement, covers three main checkpoints for all hospitals as they make this transition.

Telemedicine / Telehealth – Current Uses and Reimbursement

2017-04-02T13:28:38-04:00By BHM Marketing|Financial Analysis, Physician Compensation, Services, Telehealth and Telemedicine|

What’s better than knowing you can connect a provider with a patient even when that patient lives in the most rural of places? Telemedicine is an innovative and resourceful communication tool that integrates communications with modern day electronics allowing for the provider and patient to be in different locations during scheduled appointments. Products such as real time audio/video, email and smart phones are just some of the products being used in this delivery of services. The term telehealth which also encompasses telemedicine is a broader definition of remote healthcare that can include non clinical usage such as continuing education and training for providers to support healthcare services.

Show Me the Money | Profitability Through Value-Based Purchasing

2023-06-29T12:06:18-04:00By BHM Marketing|Accountable Care Organizations, Care Coordination, Financial Analysis, Health Care Reform, Health Insurance, Physician Compensation, Services|

Summary: Are you ready for a shift in risk from payer to provider? Will you be ready for value-based purchasing when it becomes required? Are you utilizing other reimbursement models such as bundled payments, Accountable Care Organizations, and Population Health Management? From a provider perspective, healthcare reform is aimed at tightening the purse strings, working more efficiently, reducing waste, and improving quality. The shift of risk has begun which will transform healthcare from a fee-for-service to fee-for-value. When the ultimate transformation ends, is still uncertain. As such, fee-for-service is still being utilized and providers are still generating profits and revenue based on the volume mentality while simultaneously trying to transition to a volume and quantity mentality. Juggling the opposite ends of the spectrum is no easy task.

Shifting Risk: A Pharmacy Perspective on Value-Based Purchasing

2017-04-02T13:28:39-04:00By BHM Marketing|Accountable Care Organizations, Financial Analysis, Physician Compensation, Services|

Summary: In this article we will discuss Value-Based Purchasing and how it impacts the Pharma industry in particular. According to an issue brief by Deloitte Center for Health Solutions, Value-based pricing for pharmaceuticals: Implications of the shift from volume to value, a shift in risk is occurring in the pharma industry as a result of healthcare legislation, culminating with the Affordable Care Act (ACA).

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Financial Analysis in Healthcare