Financial Decision Making

The Joint Commission recently issued an alert urging health systems to develop detailed plans. Elizabeth Mort and Kevin Zacharyasz of the Joint Commission talk with us about the ways hospitals should prepare.

Analysts from Fitch Ratings see reasons for optimism in the coming year. But they also don’t expect margins to return to pre-pandemic levels.

By helping providers, plans can optimize the functions that support risk adjustment while also building trust and fostering collaboration that support holistic care.

Most hospitals say they have had to reduce capacity due to a lack of staff, a new Kaufman Hall report finds. Shortages figure to be a long-term issue.

Hospital volumes have rebounded, but health systems continue to pay more for labor costs. Fitch’s downgrades have outnumbered upgrades 3-to-1.

Margins remain below historical levels, but more hospitals and systems are reporting better earnings.

These audits hurt hospitals’ revenue cycles by increasing administrative costs and ultimately reducing reimbursement.

Even with signs of improvement, health systems still face headwinds. Suzie Desai of S&P Global Ratings provided an overview for hospital executives.

As many hospitals expand their footprint using co-management agreements, they will also be subject to greater scrutiny for anticompetitive behavior.

A new AMA analysis finds nearly half of all physicians age 55 and over have faced a lawsuit. Women doctors are less likely to be sued, the report said.

By involving clinicians at the beginning of the process, health systems can potentially improve patient care and reduce costs.

Most doctors say delays in approval for treatment are impeding patient care. They also say excessive delays are undermining the argument that prior authorization helps control costs.

Many digital health solutions can play a key role in helping support the long-term financial health of hospitals.

The two systems announced their plans to join forces in September. MercyOne is part of Trinity Health, one of the nation’s largest nonprofit systems.

Compared to last January, hospitals have rebounded financially, but they remain well below pre-pandemic levels, Kaufman Hall says. And they fell back in some areas compared to December.

Within two years, it is expected that more than 70 million U.S. patients will benefit from remote patient monitoring. Yet some misunderstandings persist.

CommonSpirit is ending its partnership with AdventHealth after nearly three decades, and purchasing Steward's hospitals in Utah.

Tower, which had endured severe financial troubles, announced an alliance with Penn in 2021. Tower is still struggling to recover from an ill-fated expansion.

Recently, courts have been more inclined to hold that these types of agreements are unenforceable.

The walkout in New York City this week is likely foreshadowing many contentious labor battles hospitals will see in 2023.

There are plenty of headwinds for health systems in the coming year, but there are signs that better days are coming, Fitch Ratings analysts said in a conference call.

After talks broke down overnight, nurses at Montefiore Medical Center and Mount Sinai Hospital walked out Monday morning.

The two health systems will stay independent, but they plan to operate a new clinically integrated network as a separate entity.

Health systems saw lower expenses, but expenses have surpassed revenues throughout the year.

Cyberattacks continued to target hospitals and health systems. More than 21 million people were affected by the 11 largest breaches of health information.

Nurses at several New York hospitals say they will walk out Jan. 9 if they can’t get a new contract.

Technology is an essential tool to recruit and retain valuable workers.

About 100,000 nurses in Great Britain went on strike twice in a week. In New York, about 14,000 nurses have authorized a strike.

Cooper, based in Camden, N.J., is the much larger system, and Cape Regional said the market is becoming tougher for smaller systems. Analysts expect more smaller systems will be seeking partners.

In an interview with Chief Healthcare Executive, Lee Kim of HIMSS outlined the current threats, how health systems are responding, and where they need to improve.