Academic medical centers identify performance-improvement priorities
Editor's Note Amid a decline in the financial performance of academic medical centers (AMCs), McKinsey surveyed 100 of these institutions about what actions they are taking to improve, according to an April 12 report in Becker’s Hospital Review. According to the Becker’s article, the top 10 “operational levers” indicated by…
Hospitals report robust margins, caution about potential near-term disruption
Editor's Note Data collected from more than 1,300 hospitals nationwide for Kaufman Hall’s National Hospital Flash Report shows strong margins—averaging 3.9% in February—but does not account for significant, near-term headwinds, according to a March 28 article from HealthLeaders. Revenue growth is primarily from outpatient care, and inpatient revenue continues to…
Federal probe investigates care quality impact of private equity mergers, acquisitions
Editor's Note Making good on plans announced by the Biden administration in December, federal agencies have launched a public inquiry into how private equity mergers and acquisitions impact patient outcomes, worker safety, and healthcare access and costs, including costs to taxpayers. As reported by Dotmed Healthcare Business News on March…
Study: Hospital privatization reduces care quality
Editor's Note Quality of care drops when hospitals move from public to private ownership, according to review published in the March issue of the Lancet Public Health. The meta-analysis uses evidence from 13 longitudinal studies across the United States, Canada, Croatia, England, Germany, Italy, South Korea, and Sweden. Researchers evaluated…
Shift to outpatient, emergency services keeps rural hospitals afloat
Editor's Note More CEOs are considering rural emergency hospital (REH) designation, according to a February 12 article in Becker’s Hospital CFO Report. In January 2023, REH was established as a new Medicare provider type to enable struggling rural hospitals to continue operating with outpatient and emergency services only, instead of…
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…
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…
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,…
A look back: The business manager role in a changing healthcare environment
Takeaways • Perioperative business managers can make significant contributions to a hospital’s financial health, but more than half of hospitals do not have this role. • Business managers’ earnings have increased in the past 5 years, while the number of direct reports has risen slightly. • The bachelor’s degree has…
Hospitals report modest growth as pandemic recovery continues
Editor's Note: Hospitals and health systems are reporting improved operating margins and increases in revenue as they continue their long recovery from the effects of the COVID-19 pandemic, according to a January 10 report from Chief Healthcare Executive. Citing the National Hospital Flash Report from Kaufman Hall, the article notes…
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- Montana legislators' prior authorization reform push mirrors national trends