Jeffrey S. Leibach, Director, Healthcare Strategic Solutions, Navigant Consulting, Inc.
Timothy E. Kinney
, Managing Director, Healthcare, Navigant Consulting, Inc.
, EVP & CFO, University of Chicago Medicine
Today’s hospital reimbursement has any number of challenges: declining government reimbursement, an unpredictable state and federal regulatory environment, shifting demographics/payer mix, and self-pay and collections issues. Hospitals and health systems are facing these and other risks that can each cause dramatic shifts in their revenue model. Such trends will increasingly require leaders to consider how they will be paid for patient care services, often by site of care. The uncertainty around these revenue drivers creates significant risks for provider organizations, but also unprecedented opportunity to redefine and shape operating, clinical care, and revenue models for the years to come. Traditional hospital incremental change approaches will yield inadequate returns and only increase financial, operational, and competitive risk. Transformative change must be highly focused and sustained. A core objective for successful providers today is to develop a Strategy-Led Transformation plan that can help navigate towards an integrated, clinical excellence model for tomorrow. This webinar will introduce attendees to several current, transformative adaptations that can help shift their revenues and collections in positive directions and help prepare them for the evolving revenue climate.
• Understand the pace and degree of revenue degradation most provider systems are facing in today’s market
• Discuss how many health systems are addressing revenue shortfalls through rapid, and sometimes dramatic/disruptive initiatives to address cost infrastructures and operating expenses
• Understand how things are priced/paid for from a strategic standpoint
• Develop pricing for new/innovative procedures
• Leverage data assets on price decisions
• Discuss current trends reports and discern abnormalities versus changes that are here to stay
• Review strategies to mitigate bad debt and improve collections in today’s climate