By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    An Expert’s Guide To Building and Improving Endurance
    June 30, 2022
    medical assistants
    What Do Medical Assistants Do On a Day to Day Basis?
    April 5, 2022
    superfoods to help with prostate health
    10 Healthy Foods That Can Help Protect Your Prostate
    August 29, 2022
    Latest News
    Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
    July 20, 2025
    How Probate Planning Shapes the Future of Your Estate and Family Care
    July 17, 2025
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    How Powerful Patients Save the System Money
    November 11, 2015
    How Financial Barriers are Slowing Down Telehealth Adoption
    September 26, 2017
    No Resource Constraints in Dialysis: a Blessing and a Curse
    May 4, 2011
    Latest News
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
    How Health Choices and Legal Actions Intersect After an Injury
    July 17, 2025
    How communities and healthcare providers can address slip and fall injuries with legal awareness
    July 17, 2025
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Healthcare Leaders Must Batten Down the Hatches in 2013
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Policy & Law > Health Reform > Healthcare Leaders Must Batten Down the Hatches in 2013
BusinessHealth ReformHospital Administration

Healthcare Leaders Must Batten Down the Hatches in 2013

philcsolomon
philcsolomon
Share
6 Min Read
SHARE

 

Contents
Healthcare Leaders Must Make Herculean Efforts to Collect Revenue in Today’s Changing Landscape 

 

Healthcare Leaders Must Make Herculean Efforts to Collect Revenue in Today’s Changing Landscape

HealthcareI just finished reading an article written by Karen Minich-Pourshadi, for HealthLeaders Media. It is called “CFO Outlook for 2013 Grim”. I’m curious, do all healthcare financial leaders feel the outlook for 2013 is grim?

Ms. Minich-Pourshadi interviewed several hospitals CFO’s to get their perspective about the challenges they will face in the coming year. In my opinion, the thoughts shared by  Mark Bogen, the Senior Vice President and CFO for the 435 bed South Nassau Communities Hospital in Oceanside, N.Y., were spot on. I’ll expand on a few of his thoughts below.

More Read

In the Battle of Doctor’s Orders Versus Patient Power, the Patient is Winning
Medicare and Medicaid EHR Incentive Programs: What are the Key Differences?
FL Governor Scott Reverses Course on ACA Medicaid Expansion Provision
Community Health Centers and Healthcare Systems Partnering for Healthcare of the Future
Deploying a Patient Portal Isn’t Enough to Engage Them

We all understand that due to the reconstructive actions, our government has taken to “fix” our healthcare system, this coming year will be especially challenging. Healthcare financial leaders feel as though they are under attack and possibly “at war” with federal and state governments and commercial payers.

The commercial payer requirements, have always been overbearing; however, over the past few years, they have morphed into a complex process even Albert Einstein would struggle with. In many cases, it’s become a game of cat and mouse. The result  is a bevy of insurance denials that have always been a healthcare financial leader’s Waterloo.

We are just beginning our reinvention of our healthcare system, and the federal government has added their share of complexity to the reimbursement process as well. With the advent of ACOs, now there are new quality requirements to meet in order to gain reimbursement. We have complex waterfall payment processes, which ensure one arm of our government payer system gets paid first before the other, and it almost takes a forensic data scientist to maximize a hospital’s Bad Debt and DSH reimbursements.

The pressure placed on healthcare organizations to justify each case, large or small, is moving into a new stratosphere. Revenue cycle leaders are battening down the hatches, attempting to get more done with less people. Many revenue cycle departments are poorly staffed because they must comply with the expense reduction mandates placed upon them in order for their organizations to continue operations.

Securing every available reimbursement dollar has become a Herculean effort. Hospitals need new tools and technologies to ensure they are properly reimbursed. Without these tools, accurately forecasting cash flow will become almost impossible. Now add in the new deadlines healthcare reform initiatives are mandating, and it’s almost an in-executable situation.

The current healthcare transformation places incredible pressure on healthcare leaders to select and purchase the right technology for their operations. The top of the list of key technology purchases in 2013 will be EMR, ICD-10 and other technologies that support business operations and improve financial health.

In addition to systemic or foundation type technologies, there are many niche technology solutions that offer attractive ROI’s that cannot be overlooked. Since time is of the essence, decisions that can positively affect revenue must be evaluated and decided upon rapidly to ensure a quicker financial return. Since many of the niche plug-and-play technologies are SaaS based, they often can be paid from operational budgets, creating an easier process for approval.

We are at the beginning of a radical shift in the way healthcare services are delivered and how they are paid. Healthcare leaders should take note of the lessons from history. Other industries have gone through transformational reconstructions similar to the healthcare industry. It took forward thinking individuals like W. Edwards Deming who introduced the “Plan-Do-Check-Act” cycle to Japanese and American auto makers, radically changing the status quo for design, testing, service and sales and Jack Welch, of General Electric who brought six-sigma to the forefront which improved the way business is operated today and has helped numerous industries make the substantive re engineering changes needed to survive and flourish.

Healthcare leaders must seize every opportunity to improve their business operations while they are operating in this year’s minefield of change. As leaders walk through a maze of mines, they need to be open to change. The old sayings “what’s not broke doesn’t need fixing” and “we have always done it this way” doesn’t cut the mustard anymore. Those who have chosen healthcare as a career must learn to cope with change and there is no better time for change than right now.

 

 

 

 

The post Healthcare Leaders Must Batten Down the Hatches in 2103 appeared first on REVENUE CYCLE NEWS.

 
TAGGED:changereveue
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

holistic dental
Holistic Dentist Services Are Natural and Safe
Dental health Specialties
July 28, 2025
botox certification
Help Improve People’s Skin Health Via Botox Certification
Skin Specialties
July 22, 2025
Telemedicine Apps
Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
Health
July 20, 2025
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
How IT and Marketing Teams Can Collaborate to Protect Patient Trust
Global Healthcare Policy & Law
July 17, 2025

You Might also Like

Image
BusinessHospital Administration

A “Bundle” of New Learning Resources for Health Care Providers

July 3, 2013
medical innovation and tech helping people to get healthy
BusinessHospital AdministrationTechnology

Dr. Ryan Shelton Reveals 9 Data-Driven Tips for Optimal Health

February 25, 2021
Business

Cover Your Bases: What To Think About When Starting A Health Practice

November 7, 2018

Strategies for Payer Negotiation

April 15, 2015
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?