Category: Physicians and Cost

Speak Their Language: Bridging the Gap Between Financial and Operational Planning

As organizations work toward a more agile, accurate planning process, there remains a gap between the traditional budget of the past and a better approach, one that works to align finance leaders with clinical operations. Learn how finance teams are bridging the gap and finding new ways to understand...

How merging financial and clinical data saved Yale New Haven Health $150 million

Yale New Haven Health in New Haven, Connecticut, is a 2,409-bed health system that includes Yale-New Haven Hospital, the primary teaching hospital for Yale School of Medicine that regularly ranks among the best hospitals in the country. As the business model for all healthcare organizations continues...

Health systems’ billion-dollar question: How to get cost data into clinicians’ hands as they decide on a patient’s care?

Kirsten Largent is director of financial planning and controller for OSF HealthCare, a 13-hospital system with more than 1,200 physicians and advanced practice providers, based in Peoria, Ill. Here, she caught up with Becker's Hospital Review to discuss the challenges her organization is confronting ...

The Biggest Challenges in Community Care: 5 Questions with the CFO of CGH Medical Center

Three years ago, CGH Medical Center began their journey towards integrating their clinical data, decision-support, long-range financial planning and operating budget information. Today, this progressive acute care facility in Northern Illinois ranks high for delivering quality care and patient satisf...

RESOURCES IMPROVE CLINICAL UNDERSTANDING OF COST AND QUALITY

In the effort to improve the quality of care and increase affordability, health systems are acquiring key information by implementing tools ranging from internal cost-accounting systems to population-based measures. Cost-accounting systems have become fundamental tools for health systems to reduce cl...

WHY HOSPITAL COST CONTAINMENT EFFORTS DEPEND ON PHYSICIANS

With risk-based models like bundled payments gaining speed, hospitals and health systems need to reexamine their cost cutting strategies and include physicians in cost containment conversations....

YALE NEW HAVEN SAVES $125 MILLION FROM CLINICAL INTEGRATION

The Yale New Haven Health System said it saved $125 million, and all they needed to do was engage physicians in cost control. Yale created a process that linked financial and clinical data, giving physicians access to information they didn’t have before without looking at a complete chart review, s...

WHAT SPONGEBOB CAN TEACH US ABOUT THE COST OF HEALTHCARE

My 14-year old daughter made a huge mistake, which would horrify any teenager: She gave her father access to her Instagram account. As a tech geek, my real goal wasn’t to check up on her (I swear), but rather to see whether the hype of Instagram matched the utility. Instead what I found was the...

YALE NEW HAVEN HEALTH SYSTEM PAYS OFF $125 VALUE

  By zeroing in on quality variation improvement and holding regular meetings between finance and clinical leaders to review data, the $3.4 billion institution has been able to significantly reduce expenses and to achieve physician and nursing buy-in. When the leadership team at Yale New Haven H...

HOSPITAL COST REDUCTION EFFORTS SEE HOPE AT THE END OF NEW PLATFORM

According to the Centers for Medicare & Medicaid Services (CMS), almost one out of the every five dollars in America is spent on health care, resulting in close to $3 trillion spent in 2014. Of that, an estimated $765 billion was lost to waste in inefficiency, redundancy, errors, overutiliz...