Archive for March, 2011

Health Inventures: Thriving in the Healthcare Business

FOR IMMEDIATE RELEASE

Most healthcare organizations’ ability to survive is based on the revenue that they can generate from their surgical services, says Chuck Peck, President & Chief Executive Officer, Health Inventures. “If hospitals are not able to maximize opportunities across the entire spectrum of surgery, they will have very little opportunity to survive and thrive.” From a consulting and services company focused on maximizing physician-hospital relationships around surgical services that is attending the marcus evans National Healthcare CXO Summit Spring 2011, in Hollywood, Florida, May 25-27, Peck discusses why hospital-physician partnerships are critical to success.

What is the most prominent issue challenging healthcare Chief Executive Officers (CEOs)?

Chuck Peck: The most challenging issue now is how to provide value and produce a successful, positive outcome for the patient at the most affordable cost. With all the discussions around the Reform Bill, healthcare CEOs need to find a model for all parties – hospitals, physicians and payers – to collaborate for the best outcome for the patient. This might sound simple, however, the system is incredibly fragmented, preventing hospitals from being very efficient. There must be better integration, communication and interaction between all parties.

How do you spot inefficient hospital-physician partnerships?

Chuck Peck: Some of the signs are obvious, but the ultimate sign is loss in market share. The hard core financial measures are typically a good indicator of whether there is a need for improvement.

Around 80 per cent of costs in healthcare organizations are controlled by physicians (nothing gets done unless the doctor orders it), which means that physicians have control over the success of the organization. This is why we consider it important to get everyone working well together in all aspects of the surgical space, as the ability to survive is based on the revenue that hospitals can generate from surgical services. We help people to collaborate in different types of partner models around ambulatory surgery centers, physician practice management, and the hospital peri-operative service, to include anesthesia services. 

One major difference in successful organizations is that physicians are viewed as partners when strategies are being developed. In successful hospitals, physicians are at the table from the very beginning. Healthcare CEOs should not develop strategies without clinicians in the room and expect them to get excited about executing it when they had no say in the matter.

Any final thoughts?

Chuck Peck: The final critical component is the physician leadership itself; successful organizations have leaders who are willing to confront all the issues and make sure physicians are aligned with the hospital’s strategies.

Hospital strategies needs to revolve around increasing revenue and market share, by being as lean and efficient as possible and keeping overheads stable and sustainable. But this requires focus. Right now, organizations are not focused on what the real issues are, therefore problems are persisting.

Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager
marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com

About the National Healthcare CXO Summit Spring 2011

This unique forum will take place at the Westin Diplomat Resort & Spa, Hollywood, Florida, May 25-27, 2011. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on the implications of the Healthcare Reform, physician-hospital integration and care based cost containment.

For more information please send an email to info@marcusevanscy.com or visit the event website

marcus evans group – healthcare sector portal

Please note that the summit is a closed business event and the number of participants strictly limited.

About marcus evans Summits

marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com 

About Health Inventures

Health Inventures is a 16 year old, privately held, consulting and services company based near Boulder, Colorado. Health Inventures partners with hospitals and health systems to optimize their clinical and operational effectiveness through strong physician relationships. Customer solutions are achieved through physician practice management services, peri-operative performance improvement, and ambulatory services development and operations. The Company has a particular expertise in ambulatory surgery center development and operations and currently has 30 surgery center partnerships throughout the United States, all of which are physician-hospital joint ventures.
www.healthinventures.com

All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com

Capio Partners on Revenue Cycle Management Ahead of the Healthcare Reform

FOR IMMEDIATE RELEASE

It is essential to get finances in order ahead of the Healthcare Reform and the new challenges it will bring about, says Jim Richards, President & Chief Executive Officer, Capio Partners. To maximize reimbursement, healthcare Chief Financial Officers (CFOs) should pay attention to the receivables cycle from the point of registration, get the information as complete and accurate as possible, and make every attempt to collect the money from all parties. From a solution provider company attending the marcus evans National Healthcare CFO Summit Spring 2011, in Hollywood, Florida, May 25-27, Richards talks about revenue cycle management, and how healthcare CFOs can prepare for the Healthcare Reform.

How can healthcare CFOs maximize reimbursement for services provided?

Jim Richards: Apart from perhaps the 10 leading healthcare organizations, hospitals do not typically invest enough in their revenue cycle system. They exist to save lives, and consider collecting money from patients as secondary.

In the last 10 years, CFOs have realized that depending on one collection agency is ineffective, that they should: look at outsourcing self-pay accounts early in the cycle; use at least two primary collection agencies; consider using a secondary collection agency; and sell charged-off accounts once Medicare patient portion accounts are written off to the cost report. CFOs should look at how the revenue cycle is managed and possibly hire people to design an efficient and effective system. They have to pay attention to the receivables cycle from the point of registration, get the information as complete and accurate as possible, and make every attempt to collect the money from patients and third-party providers.

How can CFOs prepare for the Healthcare Reform?

Jim Richards: We still do not know what shape or form it will take, but it is clear that healthcare organizations should prepare for substantial change. It is essential to get finances in order ahead of the Healthcare Reform and the new challenges it will bring about. Hospitals need to have the best technologies in place for billing and collecting. Some organizations have learned how to be profitable through economies of scale and good management, but others are struggling on a day-to-day basis. They have to make sure they are getting paid for their services by those who can afford to pay.

What is Complaintless Collections™?

Jim Richards: Debt buying has been very popular for the past 20 to 25 years. When the organization has exhausted different debt collection channels, it makes sense to sell debt to organizations such as ours for longer-term collection efforts. However, collecting healthcare debt is different from collecting other debts. People do not intend to get hurt or ill, so the tactics used to collect unintended debt should be more like financial counseling and customer-oriented. Hospitals are concerned about their community image and how patients are handled, therefore collectors need to be sensitive to such issues and behave in a way that does not cause any complaints.

Any final thoughts?

Jim Richards: People continue to visit the hospitals they owe money to. While debt affects their credit rating, they are not too worried about paying their hospital bills. It is important for the healthcare industry to educate people on the fact that if people want to continue to depend on their local hospital’s services, the hospital must get paid for its services.

Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager
marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com

About the National Healthcare CFO Summit Spring 2011

This unique forum will take place at The Westin Diplomat Resort & Spa, Hollywood, Florida, May 25-27, 2011. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The summit’s program topics will include interactive discussions on healthcare reform, physician alignment, capitalizing on LEAN techniques and credit implications of a changing healthcare landscape.

For more information please send an email to info@marcusevanscy.com or visit the event website

marcus evans group – healthcare sector portal

Please note that the summit is a closed business event and the number of participants strictly limited.

About marcus evans Summits

marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com 

About Capio Partners

As the premier healthcare debt purchaser in the industry, Capio Partners coordinates your patient-centered culture with the fiscal need for profitable and predictable cash flow. With a 40-year track record in the healthcare receivables industry, Capio Partners delivers proven results while keeping you compliant with CMS Regulations.
www.capiopartners.com

All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com

Budget Cuts Causing Uncertainty in Nursing

FOR IMMEDIATE RELEASE

Chief Nursing Officers (CNOs) are fully responsible for the delivery of the highest quality patient care service. In addition, they must lead the nursing workforce, while meeting the financial, policy and regulatory requirements of the organization, according to Susan Bowar-Ferres, Adjunct Professor of Nursing, and former Senior Vice President/Chief Nursing Officer, NYU Langone Medical Center. A speaker at the marcus evans National Healthcare CNO Summit Spring 2011 taking place at the Westin Diplomat Resort & Spa in Hollywood, Florida, May 25-27, Bowar-Ferres says that the current economic climate is having a precarious effect on nursing.

What are the challenges facing CNOs at the moment?

Susan Bowar-Ferres: The primary challenge for the CNO is dealing with the financial uncertainty of the federal and state budgets we face. How the system will manage to safeguard patient care regardless of setting is of chief concern. Nursing is always highly impacted as it is the biggest workforce of any organization. A closely related concern is the implementation of new information systems and how integrated, effective and useful those systems are for nurses and their practice.

How has the current economy presented challenges for the nursing job market?

Susan Bowar-Ferres: There are two prongs of the workforce that are creating a challenge. Due to the current economic situation, nurses are not retiring as they had planned so we have an older workforce than might have been anticipated. This leads to issues with the physical work and its resultant health effects. The energy level of older nurses is also an issue not so much in terms of cognitive thinking but their ability or desire to work 12 hour shifts. Also, we have been very active in improving the capacity of academic institutions to produce more graduates. However, these young graduates are not always able to find jobs in the areas that they want and that is devastating for them and for the profession.

What effect will President Obama’s Healthcare Reform have on nursing and patient care?

Susan Bowar-Ferres: There is so much contention in Washington DC about the various aspects of it. Overall, it is an excellent opportunity for nursing to step up and be very influential in how delivery of care is rendered. Nurses are very collaborative. We are not competitive in the sense that other organizations and disciplines are. The most prominent feature in Obama’s reform is that everyone has the right to health care, but of course that has to be at the best price level. As CNOs represent the organization at a corporate level, there is tension in balancing what is best for the patient population with the organization’s view of how to be financially successful. The tight rope of balancing clinical quality and excellence with cost is one that nurse executives walk all the time.

Are there any long-term strategies and best practice tips you would recommend to CNOs?

Susan Bowar-Ferres: The Institute of Medicine report entitled ‘The Future of Nursing: Leading Change, Advancing Health’ supported by the Robert Wood Johnson Foundation contains many recommendations that CNOs must begin to partner with others to accomplish. The four messages are that nurses should practice to the full extent of their education and training; nurses should achieve higher levels of education and training through improved education systems that promote seamless academic progression; nurses should be full partners with physicians and other healthcare professionals in redesigning healthcare in the US. Finally, effective workforce policy and planning require better data collection and an improved information infrastructure. These are important areas of consideration. Increasing BSN-prepared nurses to 80 per cent of the workforce by 2020 is a key recommendation. 

Contact:
Maeve McGovern
Group News and Features Writer
marcus evans
Tel: + 357 22 849 313
Email: press@marcusevanscy.com

About the National Healthcare CNO Summit Spring 2011

This unique forum will take place at the Westin Diplomat Resort & Spa, Hollywood, Florida, May 25-27, 2011. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The summit includes presentations on the healthcare reform, nursing in the era of meaningful use and improving patient care. 

For more information please send an email to info@marcusevanscy.com or visit the event website

marcus evans group – healthcare sector portal

Please note that the summit is a closed business event and the number of participants strictly limited.

About marcus evans Summits

marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com 

All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com