As hospitals and health systems face rising expenses and declining reimbursements, it is crucial for these organizations to make operational adjustments to ensure long-term financial success. During a panel discussion at the Becker’s Hospital Review 7th Annual CEO + CFO Roundtable in Chicago, several C-suite executives offered insights into how organizations can achieve financial sustainability…. Read More
Healthcare leaders are looking for new, thoughtful and fact-based approaches to improve labor costs. In a recent webinar, UW Health’s Wayne Frangesch, Chief Human Resources Officer, and Philip Musgrave, Manager, Pricing and Financial Modeling, partnered with Prism’s Stephen Lothrop, Managing Director, and Sachin Sharma, Director, to share how a data-driven labor management system can deliver… Read More
In a recent webinar, leaders from Prism and Hospital Sisters Health System discussed the major trends shaping the healthcare industry and how hospitals are reacting. The ACA lives on, but continuous political uncertainty and weakening of Obama-era healthcare reform policies have created enough friction to necessitate some strategic course corrections for hospitals and health systems…. Read More
The healthcare policy turmoil that defined 2017 is enough to give anyone whiplash, political affiliation and occupation aside. Yet aside from a handful of regulatory changes, such as the rollback of some bundled payment initiatives, federal healthcare policy has not actually changed in the past year. The ACA is still in place; Medicaid expansion lives…. Read More
Becker’s Hospital Review caught up with Neil Faux, Managing Director at Prism, about 11 key considerations for executives planning labor cost reduction initiatives and the value of leveraging human resources departments to minimize cultural fallout during transition periods.
Hospitals and health systems face tough choices today about how to manage their expensive — and highly valuable — staff as declining reimbursement exerts downward pressure on operating costs. In a recent article for Becker’s Hospital Review, Prism’s Steve Lothrop and Joni Coccagna, RN share how to optimize labor management and productivity.
As health systems merge and acquire more hospitals, they often find the integration process is harder, takes longer and results in fewer benefits than expected. Here, Prism’s Mukesh Gangwal and Jan van Londen share six tips for hospital system CEOs to plan and implement more successful system integration programs.
How should healthcare leaders prepare their organizations for the potential policy and regulatory changes and challenges ahead? Experts from Prism and ProHealth Care hosted a webinar with Becker’s Hospital Review to share actions healthcare executives can take to improve hospital performance in times of political uncertainty. The webinar was a continuation of Prism’s series dedicated… Read More
Prism’s Brad Fetters and Neil Faux shared insights with Becker’s Hospital Review on areas healthcare leaders should prioritize now in workforce and human resources to improve performance amid potential major industry changes. Learn more about their recommendations, including rationalization for initiatives, the importance of accountability, updating job descriptions, and the remaining market-competitive.
As healthcare reform is revolutionizes the payment model to include penalties for poor quality, bundled payments, and at risk capitation reimbursement, providers must strengthen their performance to be profitable at Medicare reimbursement rates. What will it take to survive on Medicare rates in your organization? Most executives will need to reduce expenses by 20% to… Read More