Healthcare executives need look no further than the pharmacy department to drive new revenue. Historically, the pharmacy department has been one of a hospital’s greatest cost centers. However, as pharmacy expert Anita Groves McAllister shows here, the pharmacy can actually be a major contributor to revenue — with little upfront investment. Read on for three… 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
How long can you expect a hospital bed to last? What about that recently purchased centrifuge or aging asphalt parking lot? Asset lifing seeks to answer these questions and provide hospitals and health systems millions of dollars in annually recurring benefit to their bottom line. Tim Baker recently sat alongside client SCL Health to explain… Read More
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.
After mergers or acquisitions, health systems often transition hospital functions like those in the supply chain into a corporate organization. Prism’s Jan van Londen shares four tips on how to get local hospital CEOs on board with centralized supply chain functions post-merger.
Becker’s Hospital Review connected with Prism Healthcare Partners on the most pressing issues for hospital and health system executives to address this year. Read on for recommendations from Ramona (Lacy) Fowler, Timothy Baker and Jan van Londen on priorities for supply chain and asset relifing.
Hospitals can incur significant savings – averaging $2 million for an individual hospital to $50 million for a hospital system – through “asset relifing,” the process of reassessing the depreciation of assets. Timothy Baker and John Holmes of Principle Valuation, a Member of Prism Healthcare Partners, discuss the financial benefits of relifing and how many… Read More
If given an opportunity to generate rapid and significant savings and improve efficiency and quality of care at your organization, would you take it? If you answered “yes,” Prism Healthcare Partners’ Ramona (Lacy) Fowler advises providers to take a look at their purchased services spend, a lucrative but often untouched area of opportunity in supply chain… Read More
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