Costs & Cost Controls

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November 2024
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Hospital institutes $100,000 bonuses to improve nurse retention

Editor's Note Palomar Health, a hospital system in Escondido, California, reports improvement in nurse retention after instituting $100,000 sign-on bonuses for new nurses and $100,000 retention bonuses to current staff paid over a three-year period.  Becker’s Hospital Review reported the news on January 17. The $100,000 bonuses were instituted in March…

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By: Brita Belli
February 12, 2024
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Save the Date for OR Business Management Conference 2025

Editor's Note After three days of education and networking last week at the 2024 OR Business Management Conference (ORMBC) last week, we’ve already got our sights set on next year. Mark your calendar for February 9-12, 2025, for another chance to hone in on OR profitability at the 13th iteration…

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By: Matt Danford
February 9, 2024
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Session: Imminent supply chain disruptors—What's your business continuity plan?

Editor's Note “Can cost and resiliency co-exist?” Michael Schiller, CMRP, executive director (interim) of the Association for Healthcare Resources and Materials Management—a professional membership group of the American Hospital Association—asked this session’s audience on the last day of the OR Business Management Conference. “They can co-exist,” he said, “but resiliency…

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By: Tarsilla Moura
February 8, 2024
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Session: How value-based care will impact surgical services

Editor's Note Understanding the impact of value-based care on the surgical suite (VBC) will be essential for hospitals to understand as payers begin to seek partners in new payment models. In a conference session yesterday, Lauren Cricchi, associate principal, financial services at Avalere Healthcare and Katie Sullivan, senior vice president,…

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By: Matt Danford
February 7, 2024
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Session: What are the legal implications of AI in healthcare?

Editor's Note How will healthcare regulators deal with artificial intelligence? How will malpractice law change, and who will be liable for harm derived from AI diagnosis and treatment recommendations? What can be done about bias in AI? Even amid a surge in algorithms cleared by the FDA, all of these…

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By: Matt Danford
February 7, 2024
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Session: OR optimization driven by more than just data

Editor's Note For Northwell Health University System, a large hospital system in New York state, saving millions in OR expenses in just a few years’ time was possible not just through meticulous analytics, but also cultural transformation. This was among the chief conclusions of a session led by Adam Becker,…

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By: Matt Danford
February 6, 2024
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Session: Strategy to reduce temporary labor expense

Editor's Note “How many of you are still struggling with staffing?” Tammy Straub, MSN, RN, APRN, CNOR, administrator of perioperative services at Lehigh Valley Hospital and Health Network, asked attendees of this session. Everyone in the room raised their hands. Straub and Alexandre Warman, MBA, CEBA, administrator of perioperative business…

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By: Tarsilla Moura
February 6, 2024
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Poster presentation: Large health system offers prototype for transitioning to centralized value analysis committee

Editor's Note Large healthcare systems considering a centralized Value Analysis Committee (VAC) model potentially have much to learn from a 10-hospital organization operating in the Washington, DC and Maryland region. MedStar Health System’s still-ongoing transition from multiple, facility-based improvement committees is the subject of one of the first posters to…

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By: Matt Danford
February 2, 2024
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Impending sale of federal helium reserve raising concerns over supply chain disruptions

Editor's Note The US government's sale of the Federal Helium Reserve, a large underground helium stockpile in Amarillo, Texas, has raised concerns about the supply of helium for critical healthcare applications, especially MRI machines, NBC News reported January 25. The Federal Helium Reserve reportedly provides up to 30% of the…

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By: Tarsilla Moura
January 31, 2024
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More health systems embrace dual roles for C-suite executives

Editor's Note:  Stacking additional responsibilities and titles atop pre-existing leadership responsibilities is becoming more common among health system executives, according to a January 24 report in Becker’s Hospital Review. Not including the most obvious overlapping pairings, such as chief medical officer and chief medical informatics officers, the most common parings…

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By: Matt Danford
January 30, 2024
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