For some hospitals and health systems, especially those in rural areas, keeping the lights on by having stable financial performance has long been a challenge. And now COVID-19 is causing even strong positive margins to slip into the red.
The government, through the Centers for Medicare and Medicaid Services, has eased some of the burden by allowing providers flexibility in the use of telehealth during the public health emergency. Some of these temporary measures may become permanent, though the big question of whether payment parity will remain has yet to be answered.
In the meantime, through the pandemic and payment cuts, hospitals have done what they needed to stay in the business of serving patients. This month, Healthcare Finance News, Healthcare IT News and MobiHealthNews will talk with healthcare leaders about what they're doing to not only survive, but thrive, under the new normal.
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The academic medical center's all-female research operations team got its studies activated in 10 days, a process that usually takes three months.
Braven Health teams two of the largest provider systems in New Jersey with one of the largest insurers in the state.
The health center invested in virtual care workstations with various scopes that allow physicians to remotely guide patients through near-complete examinations.
If all U.S. counties had high health literacy levels, there would be $25.4 billion in Medicare savings annually.
The youngest generations, including Gen Z and millennial patients, are feeling the biggest impact.
Turnaround times and testing capacity have greatly improved, and pharmacists will play a role in vaccine education.
Financial well-being depends on earning a patient's loyalty for life, says VP of Business Innovation and Development.
The drop in admissions suggests revenue losses that may be difficult for some hospitals to weather.
Providers have looked to telehealth to continue seeing patients and revenue cycle technologies to improve efficiencies.
Telehealth adoption under COVID-19 has provided a blueprint for wider implementation across ERs and other healthcare venues.
A complete financial recovery for many organizations is still far away, findings from Kaufman Hall indicate.
Two NHSC programs have more than doubled the number of NHSC clinicians treating patients with opioid use disorders.
The financial IT used by University Physicians' Association increased patient payments by 43%, and the payment lag for self-pay patients is down 20 days. "That's huge," a UPA exec says.
Staff received hazard pay, meals and, in one nursing home, a dedicated space to stay overnight to avoid taking the virus home to members' families.
The surging costs of tackling the pandemic are straining public hospital budgets, increasing the need for county support.
Stakeholders argue which form of accountable care organization is best for delivering value-based care.
A second school of medicine campus will be built in Charlotte and a new critical care, ER and surgery tower will be constructed.
Keeping frontline healthcare workers physically and psychologically safe is paramount during the COVID-19 pandemic
Data should be used in ways that foster openness, communication and a better work environment for caregivers.
RWJBarnabas is partnering with St. Peter's and will announce a definitive agreement to acquire Trinitas Regional Medical Center.
The machine learning model, which has been shown to have up to 90% precision, may help clinicians to determine which patients can be sent home safely.
Winning back patient trust is essential to stemming their avoidance of deferred care and pumping life back into volumes.
Telehealth more time- and cost-effective for chronic pain patients, bolstering case for provider adoption
Patient satisfaction was high even before the pandemic, and anesthesiologists say 50% of visits could be virtual.
The last time margins sank so deeply into the red was after the Balanced Budget Act of 1997, though today's margins are faring worse.
A report from KLAS and CHIME finds that hospitals and health systems are still investing in population health management tools, but many are "becoming less optimistic" about the near-term prospects for value-based reimbursement.
Since launching the new systems, the health system has increased organic traffic to its website by nearly 30% and increased provider data accuracy by the same percentage.
The system's dashboard has resulted in a rolling two-week forecast that has closely mirrored caseload to date.
Coral Gables Hospital has survived major drug shortages, kept tight tabs on inventory, and helped patients and staff stay safe from coronavirus infection.
Change will be necessary to ensure the financial health and success of physicians and hospitals caring for orthopedic trauma patients.
Groups say CMS should get more feedback as proposals change the way ACO quality is assessed, reported and scored.
The task force recommends providers engage in conversations about bills long before the post-discharge account resolution process.
At stake is $1.6 billion in payments per year to thousands of 340B hospitals that serve vulnerable populations, the AHA said.
Democratic leaders question what they call CMS' unauthorized use of billions from the Medicare Trust Funds.
In addition to the patient care benefits, integration of virtual technology in mental healthcare can boost cost savings and efficiency.
When organizations automate their revenue cycle, they can improve their bottom line while freeing up resources to spend on value-enhancing tasks.
Patients are largely on board with this paradigm shift, significantly increasing their engagement with the remote care platform.
COVID-19 has made working from home more attractive, and healthcare could use this trend to its financial advantage.
While healthcare has historically been resilient during economic downturns, the nature of this cycle introduces new challenges.