Most of us look for strategies that work immediately but also have enduring benefit. Yes, 2019 is the year hospital providers must post on their websites what they charge for select procedures and services. This is designed to produce consumerism where patients ‘shop’ for the lowest price as they do when purchasing automobiles, smart televisions, […]
Will President Trump’s Executive Order to force greater pricing transparency prevail? If it survives legal challenges, will it drive more people to shop for health care based on price and not reputation (brand)? And, will it reduce the overall cost of health care? Some believe this actually could drive-up prices for most services. Consumers can’t […]
We don’t sell a data platform for financial success, but instead provide Strategic Advisory for the charge master anchored by the use of state-of-the-art financial software. Our PinPoint algorithm discerns the statistical relationship among service line charges, volumes, individual service line profitability, payer contract reimbursements, and other key factors that determine financial success for hospitals. […]
Using predictive pricing analytics to model various revenue scenarios is the only proven way to forecast future net revenue accurately. Our PinPoint algorithm uses predictive pricing analytics to accomplish this, giving CFO’s a powerful statistical tool at budget time or any time of the year. This will enable you to hit financial targets, starting with […]
Today’s health care has more initiatives and directives than ever before, thus it’s easy to get lost in the weeds of change and process. A recent survey of CFO’s again confirmed the importance of securing the hospital’s net revenue stream moving forward. An article last week in a leading health care online newsletter explained why […]
The Senate seems poised to vote for what leadership is calling a fix to ensure the stability of the federal exchanges, yet it appears to be little more than a continuation of the ‘hand-outs’ to insurers. It will extend the subsidies for 2018 through 2019, long enough to get through the coming 2018 Congressional election […]
President Trump signed an Executive Order yesterday that enables the sale of health insurance across state lines. This is designed to expand choice in purchasing health insurance at a time when many of the state-run and federal insurance exchanges have only one insurer and rates are increasing dramatically. The Executive Order also allows individuals to […]
When is the best time to implement a new CDM strategy? CFO’s have tackled charge master changes, reviews, and bench-marking exercises at different times of the fiscal cycle with varying degrees of success. Having well-defined goals, a reasonable timeline (to avoid “mission creep”), and effective tasking are key. The short answer to the first question […]
The ACA has succeeded in changing the national conversation about health care despite not achieving its stated goals. The ACA’s purposeful shift in paradigm from Fee-for-Service (FFS) to value (patient outcomes) is underway, albeit at a slower pace than predicted. Some have advocated abandoning the charge master altogether, saying it is no longer relevant since […]
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