This was not a drill and it was not easy, but health care professionals responded as they always do to provide compassionate and innovative care to save lives. Lessons learned are invaluable. Here are just a few examples of what providers have done so far: Created better ways to prepare for an epidemic or pandemic […]
Will 2020 be a year of innovation, new cures, and enhanced health care delivery that improves patient outcomes while bending the cost curve? The feds have mandated all hospital providers post what they will accept as payment-in-full for a select set of services. This appears to pierce the privacy clause of contract law, yet the […]
Change is a constant. Gurus tell us to embrace change and make it a market differentiator. We know we learn more from our mistakes than our victories. Experience teaches us how to make good decisions and good decision-making almost always produces good results. Innovation is the new challenge. Whether you are a senior executive of […]
Greater pricing transparency can impact patient engagement and patient satisfaction. Patients want easy-to-understand bills just as they want a physician provider who communicates with them openly about their health concerns. Consumers today are more likely to comparison-shop for a hospital provider if they have an insurance plan with a high deductible. We know satisfied patients […]
What are some common sense strategies to provide greater pricing transparency? Do a thorough analysis of all charges and payer data Determine which service lines are the most profitable Determine which service lines have the strongest brand and which ones are emerging as important revenue-generators Drill down to the self-pay patient subset by service line, […]
Will the coming year bring more substantive change to what remains of the ACA? Will the level of M&A slow down or pick-up speed again? Will the market see more disruptors, either well-funded start-ups or companies from other industries that believe they can take a significant bite out of the health care market? Will behavioral […]
One of our clients recently told us he wants to preserve his hospital’s existing FFS net revenue stream to ensure fiscal sustainability, grow brand strength, and transition to some value-based care. This is not an unusual request given today’s health care environment. We design a two-tier approach that starts with a thorough review of charge […]
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 […]
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