Despite operating in a challenging financial environment, health systems may be able to meet consumer demands and create better coordinated experience across the continuum of care, all while improving financial performance.
Here are 5 strategies health executives should consider to enhance margins and transform their business models:
Align and equip health system leaders
Reevaluate the basics driving your financial operations
Establish consistent analytics for improvement and reporting
Employ automation to modernize healthcare operations
Consider partnerships to push strategic pursuits forward
Download our e-book to discover how healthcare organizations are prioritizing a path to improved financial sustainability and margins.
What is the Status Quo Costing You? Strategies to Reduce Nurse Attrition and Labor Cost
July 11, 2023
The nurse labor shortage has reached a critical mass. Healthcare organizations are facing serious challenges, not least of which is nurse retention. Record levels of burnout are causing nurses to retire early, search for better jobs, or leave the profession altogether.
Maintaining the status quo is no longer an option. Traditional approaches to addressing the nurse shortage are driving labor expenses up and operating margins down — a troubling trend that demands immediate action to ensure financial stability moving forward.
Dive into six strategies that will help your organization make headway in engaging and optimizing your internal nurse resources and reducing your premium labor spend.
Payment Transformation: How health systems are meeting critical financial and operational goals through new patient payment technologies
July 7, 2023
In today’s dynamic healthcare landscape, healthcare organizations are leveraging more comprehensive payment technologies. With methods ranging from physical credit card transactions and email notifications to real-time EHR and contactless payments, organizations are looking to optimize payment and revenue cycle processes, bolster payment security, and redefine the patient’s financial journey. Hospital executives unequivocally recognize the significance of these advancements for their continued success.
According to new research conducted by HealthLeaders and supported by U.S. Bank, an overwhelming 89% of hospital and health system executives consider payment digitization an indispensable strategic imperative. The survey, which collected input from 73 respondents, predominantly CEOs, and presidents, provides valuable insights into the priorities of healthcare organizations regarding payment solutions.
5 Key C-Suite Implications of the Contingent Workforce
June 29, 2023
The pandemic redefined the role of the contingent workforce within healthcare. Elevating discussions of the contingent workforce to the C-Suite can save an organization millions of dollars, give it an edge in talent acquisition and keep the enterprise nimble.
Non-employee labor touches so many parts within a healthcare system, therefore top-level endorsement and alignment is critical in driving meaningful action and transforming your contingent workforce into a critical asset for your health system.
In this white paper, we’ll dig into five key implications as to why it is imperative to include contingent workforce in strategic, C-level dialogues:
Quality of Patient Care
Total Talent Management
Download the white paper to read more about leveraging your extended workforce to reimagine patient care.
If you’re exploring automation for your revenue cycle, selecting the proper vendor isn’t just a step of the process — the decision can make or break your success.
Artificial intelligence (AI) and robotic process automation (RPA) have the power to minimize manual work, cut costs, and free up staff time to focus on higher-value tasks. However, to be effective, the technologies must be built on a strong, strategic foundation.
Discover how to frame the conversation with a potential vendor, so you don’t sell yourself short when investing in your health organization’s automation technology.
Rethink Your Revenue Process and Realize Better Patient Care
June 15, 2023
Misconceptions persist among hospitals and health systems that denied and rejected claims are an unavoidable reality of providing healthcare. This belief leads to resource-intensive processes and avoidable revenue loss with little payoff. Not only that, patients are the most impacted by denied prior authorizations and claims denials.
In a recent HealthLeaders webinar, Laura McIntire-Hansel, RN, director of revenue cycle development for Cardinal Health, shared a comprehensive model that decreases rejected and denied claims, identifies savings opportunities, and minimizes facility time spent on claims resolution.
Download the full report for her insights on how to provide hospitals with proactive solutions for mitigating denials, improving revenue, reducing administrative burdens, and enhancing the patient’s financial experience.