The "vast majority" of provider-sponsored health plans are unprofitable, Flare Capital Partners Principal Parth Desai pointed out during a recent interview. He said most of these plans aren’t able to cover the large number of lives required to ensure a viable risk pool and maintain a healthy operating margin.
U.S. healthcare is unnecessarily spending millions of dollars on scopes—dollars that could be better spent opening up new service lines, investing in medical equipment, or hiring nurses for improved patient care.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
The significance of credit ratings for health systems cannot be overstated. They serve as a warning sign indicating organizations need to transform. Health systems can no longer rely on top-line revenue to address their inherited problems. It is clear that a fresh approach to cost management is required to break away from past practices and chart a new course toward financial viability and sustainability.
Many new to financing negotiations try to paint a rosy picture and offer unrealistic terms or revenue expectations to improve a soured relationship. This will quickly backfire and result in defaults, which not only incurs additional costs, but can rupture trust and spoil relationships.
Hospital finances worsened in July as volumes dropped, according to a new report. Following four months of growth, hospitals' median year-to-date operating margin index fell 1.3%, down from 1.4% in June. Hospital finances still remained in a better place than they were last year, given hospitals’ median operating margins were -0.98% in July 2022.
Hospital M&A activity remained strong during the first quarter of 2023, according to a new report from Kaufman Hall. Hospitals and health systems announced 15 M&A transactions in the first quarter of 2023, which almost matches the 17 transactions announced in the fourth quarter of 2022.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
A new report from Lown Institute examined the finances of 1,773 private nonprofit hospitals across the U.S. For more than three-quarters of these hospitals, their spending on charity care and community investment was less than the money they received in tax breaks in 2020. These combined deficits totaled $14.2 billion, which is enough money to relieve 18 million Americans’ medical debt or prevent 600 at-risk rural hospitals from closing, according to the report.
M&A activity among health systems picked up last year — key trends included cross-market mega-mergers and academic medical centers expanding their community hospital networks. Despite tough economic conditions, Kaufman Hall experts expect this activity to continue growing in 2023.
Inflation and shrinking operational margins are among the key factors that will influence hospitals and health systems’ strategies in 2023. To deal with this, more hospitals will merge with other systems, predicted Tina Wheeler, Deloitte’s leader for its healthcare sector.
Hospitals are struggling to discharge patients in a timely manner, according to the American Hospital Association. This is often because there are no available spots for patients being transferred to outpatient facilities. To remedy the increased costs hospitals face as a result of this issue, an AHA exec said Medicare should establish a temporary per diem payment for cases in which a patient is ready for discharge but is unable to be discharged appropriately.
We will highlight Build My Health's revenue practice management tools, which could help physician practices add up to $250,000 to their practices.
Here are three proven strategies for hospital executives to create an overall winning proposition (while keeping patients at the center of it).
Consumer research firm Forrester recently predicted major trends that would shape healthcare in 2023. Healthcare stakeholders should prepare for key changes, such as care becoming even more inaccessible for rural patients and additional retail entrants into the clinic space.
While no single approach is right for every hospital, there are a few fundamental tenets that all healthcare organizations should keep in mind as they design a quality improvement program.
Hospital revenues and volumes are on an upswing, but growing expenses are still offsetting gains in these areas, especially as cases caused by the Delta Covid-19 variant continue to rise.