CFO roundtable: 3 finance leaders on clinical staffing, retention issues

http://www.beckershospitalreview.com/finance/cfo-roundtable-3-finance-leaders-on-clinical-staffing-retention-issues.html

Image result for CFO roundtable

The healthcare workforce represents one of hospitals’ biggest costs and affects every aspect of the organization, from the quality of patient care to the hospital’s bottom line. With such high stakes amid the transition to value-based care, leaders must ramp up recruiting and retention strategies while mitigating the effects of the nationwide staffing shortage.

At AMN Healthcare 2016 Workforce Summit in San Diego, Scott Becker, publisher of Becker’s Hospital Review, moderated a panel discussion with four health system finance executives on the top staffing challenges they are seeing in their organizations.

Panelists included Gary Raju, CFO of St. Louis-based Mercy Health System of Oklahoma; Chip Neuman, CFO of Community Regional Medical Center in Fresno, Calif.; and Brian Scott, CFO, chief administrative officer and treasurer of AMN Healthcare.

Here are three of the most interesting takeaways from the panel.

5 hospitals with strong finances

http://www.beckershospitalreview.com/finance/5-hospitals-with-strong-finances-october20.html

Market Power

Here are five hospitals and health systems with strong operational metrics and solid financial positions based on recent reports from Moody’s Investors Service, Fitch Ratings and S&P Global Ratings.

Note: This is not an exhaustive list. Health system names were compiled from recent credit rating reports. Systems are listed in alphabetical order.

1. University of Chicago Medical Center has an “Aa3” rating and stable outlook with Moody’s. The hospital’s cash flow is growing and its market share is increasing. Moody’s expects UCMC to continue to produce improved cash flow margins and maintain its solid liquidity position.

2. Carolinas HealthCare System has an “Aa3” rating and stable outlook with Moody’s. The Charlotte, N.C.-based system has solid operating performance and cash flow diversity, according to Moody’s.

3. Parkview Health System has an “Aa3” rating and stable outlook with Moody’s. The Fort Wayne, Ind.-based system has solid financial performance and strong debt service coverage. Moody’s expects Parkview’s solid operating performance to continue.

4. Memorial Healthcare System has an “AA” rating and stable outlook with S&P. The Hollywood, Fla.-based system has strong cash flow, high unrestricted reserves and light pro forma debt. S&P expects MHS to maintain its solid enterprise profile and continue to generate strong earnings and cash flow.

5. Banner Health has an “AA-” rating and stable outlook with Fitch and an “AA-” rating and stable outlook with S&P. The Phoenix-based system has strong enterprise profile and good revenue diversity across its hospitals, according to S&P.

Healthcare Triage News: Health Care Reform, and the Issues We Face

Healthcare Triage News: Health Care Reform, and the Issues We Face

Image result for Healthcare Triage News: Health Care Reform, and the Issues We FaceImage result for Healthcare Triage News: Health Care Reform, and the Issues We FaceImage result for Healthcare Triage News: Health Care Reform, and the Issues We Face

As we approach the election this fall, it seems like the news media report on little else. Unfortunately, too little news coverage addresses health care reform. That’s wackadoo, because there is still so much to be done to improve the cost, quality, and access for patients within the US health care system.

So let’s talk about the major health policy issues we in the US face. This is Healthcare Triage News.

10 things to know about CMS’ new mandatory cardiac bundle

http://www.beckershospitalreview.com/finance/10-things-to-know-about-cms-new-mandatory-cardiac-bundle.html

Image result for 10 things to know about CMS' new mandatory cardiac bundle

CMS proposed Monday a new mandatory bundled payment program for heart attacks and bypass surgeries that includes changes to the existing Comprehensive Care for Joint Replacement Model as part of its larger goal to shift Medicare from quantity to quality incentives.

Here are 10 things to know about the proposed rule.

21 statistics on high-deductible health plans

http://www.beckershospitalreview.com/finance/21-statistics-on-high-deductible-health-plans.html

Image result for 21 statistics on high-deductible health plans

Hospital and health system executives are well aware of the affects high-deductible health plans have had on hospital finances, from patient collections to bad debt. To help quantify the impact of increasing patient financial obligations on the business of healthcare, here are 21 statistics to know about high-deductible health plans.

MIPS breakdown: 6 must-know parts of the MACRA final rule

http://www.beckershospitalreview.com/finance/mips-breakdown-7-must-know-parts-of-the-macra-final-rule.html

OR Efficiencies

The Medicare Access and CHIP Reauthorization Act final rule is here. As industry experts begin to dig into the 2,400-page document released Friday, a few details are emerging that will be critical for providers who plan to practice fee-for-service medicine in 2017.

Physicians, physician assistants, nurse practitioners, clinical nurse specialists and certified registered nurse anesthetists who bill more than $30,000 a year or provide care for at least 100 patients under traditional, fee-for-service Medicare will be subject to MACRA’s Merit-Based Incentive Payment System beginning Jan. 1.

Becker’s caught up with two experts who have already started reading — Tom Lee, PhD, founder and CEO of SA Ignite, and Dan Golder, DDS, principal at Impact Advisors — to determine a few details providers should heed in preparation for MIPS next year.

Here are seven takeaways based on the initial findings of Drs. Lee and Golder.

The 10th Annual ReviveHealth Trust IndexTM reveals an alarming gap

http://thinkrevivehealth.com/topic/trust/

Health system pie chart

13% VALUE • 87% VOLUME

During the course of calendar year 2016, what percentage of your total commercial revenues will be based on volume versus value?

 

Four areas of unnecessary senior healthcare

http://managedhealthcareexecutive.modernmedicine.com/managed-healthcare-executive/news/four-areas-unnecessary-senior-healthcare?cfcache=true&ampGUID=A13E56ED-9529-4BD1-98E9-318F5373C18F&rememberme=1&ts=19102016

The number of seniors in the United States is projected to nearly double over the next 34 years—from 43 million in 2012 to nearly 84 million by 2050. During that time period, the number of seniors 85 and older is expected to jump from nearly 6 million to 19 million.

“Our Parents, Ourselves: Health Care for an Aging Population,” a report issued by the Dartmouth Atlas Project, a program of The Dartmouth Institute for Health Policy and Clinical Practice, also reveals that the number of seniors in Medicare private health plans such as Medicare Advantage increased from 6.4 million beneficiaries in 1999 to nearly 12 million in 2011—and that number continues to rise.

Because seniors are likely to experience frequent, complex interactions across many providers in the healthcare system, often there’s no single healthcare provider coordinating all of their care, according to the report, which was released in early 2016.

In addition, the American Geriatrics Society’s Choosing Wisely guidelines, which were released in 2013 and updated in 2015, provide geriatrics-specific recommendations to the American Board of Internal Medicine Foundation’s Choosing Wisely campaign. The campaign advances a national dialogue on avoiding wasteful or unnecessary medical tests, treatments, and procedures.

Here are four areas of elderly care—highlighted in the report and guidelines—that healthcare systems and health plans should be aware of to ensure that elderly patients aren’t receiving unnecessary care.

FTC puts an end to Penn State-PinnacleHealth deal

http://www.fiercehealthcare.com/finance/ftc-prevails-squelching-penn-pinnaclehealth-deal

FTC logo

Thanks to the Federal Trade Commission, the Penn State Health and PinnacleHealth merger will not go forward.

Plans to merge were called off late last week, according to PennLive.com. The Penn State Board of Trustees voted unanimously to call off the deal, which would have created a four-hospital system in the Harrisburg region, including Penn State’s Hershey Medical Center and the three PinnacleHealth facilities.

The FTC and the Pennsylvania Attorney General intervened in the deal late last year, with both claiming that residents in Central Pennsylvania would have few alternatives for other healthcare providers, leaving the likelihood open that the merged entity would raise prices. Thetransaction was initially approved by a U.S. District Court in May, but the parties were dealt a blow when the ruling was reversed by the U.S. Third Circuit Court of Appeals last month.

The aborted deal cost Penn State an estimated $17.6 million in legal fees and other costs, according to PennLive.

The case is part of what has been heightened scrutiny of recent hospitals deals by both federal and state regulators. In November, the FTC intervened in a deal between two rural hospitals in West Virginia, Cabell Huntington Hospital and St. Mary’s Medical Center. The agency recently prevailed in a 2010 case where it intervened in ProMedica’s acquisition of St. Luke’s Medical Center in Toledo, Ohio. The agency is also fighting a proposed merger between Advocate Health Care and NorthShore University HealthSystem in Chicago, although as in the Penn State matter, it has lost at the lower court level.

FTC Chairwoman Edith Ramirez expressed concern earlier this year that ongoing hospital mergers will soon impact healthcare pricing around the U.S., but deal-making appears to go on unabated. That’s despite the fact that a recent analysis suggested that mergers even across markets can lead to double-digit cost increases.

Measuring What Really Matters

http://altarum.org/health-policy-blog/measuring-what-really-matters

Image result for measuring

Not everything that is important for a person’s health can be measured and not everything that can be measured in health care is important to the average person.

For too long, value has been defined only for the benefit of regulators and purchasers. Our health care system is purpose-built to cater to their performance needs, oversight, and expectations, and as such has fostered the proliferation of all sorts of clinical quality measures by multiple organizations. The current state of quality measurement serves these audiences reasonably well.

However, the problem with evaluating quality using these tools is twofold. First as a physician, I still see too much variation in the technical quality of American health care. Second, clinical measures alone ignore how value is perceived through the eyes of those who actually use the delivery system. When we look at the highest users of health care – those with serious medical problems and functional limitations – we now have an abundance of technical measures for each condition on their problem list, and yet really no understanding of whether we are contributing to a person’s quality of life. Frankly, I care little about the fact that my 100-year-old grandmother has never had a screening colonoscopy, but I care mightily that no one seems responsible for her successful discharge and transition home after a bout of urosepsis.

We cannot improve what we do not measure…and it is time to start measuring health care from the vantage point of those needing care, not just for those who provide and pay for it. And if we are to achieve the dramatic improvements anticipated through new payment and service delivery models, the mushrooming of purely clinical measures must be thinned out to make room for a new generation of metrics that consider outcomes from the person’s perspective.