The Affordable Care Act has had a tremendous effect on hospital financial management. For instance, the Act has required an increased amount of evolution in order to meet the expanding needs of consumers. Some of these changes are related to reimbursement, expenditures, and cost of care. Each of these are discussed below: Reimbursement Reimbursement is important to hospital financial management. Since …
Peoplesoft ERP Solutions for Difficult Issues
There is one topic we can all agree on, safe, comprehensive and quality health care should be the goal of every hospital, Period. With a myriad of responsibilities, including financial management, procurement, procedural accuracy and responsiveness to human resources, there is an extensive list of obligations hospital administrators and staff must attend to in addition to their most important charge: …
Hospital HR Problems? We’re Your Solution.
HR is the lifeblood of any human services organization, and when it comes to Hospital HR, it’s no exception. If the human resources department of a healthcare organization or hospital does not recruit quality employees and manage them effectively, not only the bottom line but lives might be at stake.When managing people, you must take three things into consideration: geographical …
Hospital Supplier Management Basics
Managing the ordering and intake of medical supplies for a hospital can seem like a straightforward, albeit daunting, task. However, hospital supplier management is a specialized, important position. This job is crammed full of minute important details and entails a very specific responsibility: Make sure that the supplies are effective and available when they are needed, but spend as little money as …
3 Priorities in PeopleSoft Management
When it comes to PeopleSoft management, there’s an abundance of factors that can contribute to efficacy. While this software is built to be user friendly and filled with all the computing power and features that your hospital or healthcare facility needs, there are three areas that require constant attention for maximum proficiency. To optimize your utilization of PeopleSoft, Belmero looks at …
Cost Savings Opportunities in Hospital Supply Chain Management
The most successful Hospital Administrators and Operations Managers are constantly looking for cost savings opportunities when it comes to their Supply Chain Management. As this article in Hospital and Health Networks points out, “The economic downturn has given the supply chain renewed prominence, boosting it in many hospitals from the basement to the executive suite.” Hospitals and other organizations are realizing …
BMI Healthcare Begins Using PeopleSoft at 69 UK Hospitals
After years of planning and preparation, BMI Healthcare — a UK private healthcare organization — recently announced that it is now using Oracle’s PeopleSoft platform as a financial and patient administration solution at all of its 69 hospitals. According to an article from Computing, implementation across the network took a team of thirty people eighteen months to achieve. Talks about using the platform began …
Oracle Ironing Out $5 Billion Purchase of Micros Systems
It was recently reported by SiliconBeat that Oracle was getting close to reaching a deal that would allow it to purchase Micros Systems for more than $5 billion. If completed, it will be the largest purchase that Oracle has made since purchasing Sun Microsystems in 2010 for $7.4 billion. Bloomberg noted that exclusive talks between the two were ongoing with each side still working out the …
FAQs and Facts About Enterprise Resource Planning for Hospitals
When you are considering an Enterprise Resource Planning (ERP) system for your hospital, there are certain questions you will always want to ask. Through our years of experience in the industry, we have been asked the questions below many times. Please note that we often “answer” with questions of our own. We have learned that the more we know up front, the more …
Hospital Financial Management Trends for 2014
The shift in healthcare reimbursement systems is challenging CFO’s and other fiscal decision makers to reevaluate financial management like never before. Shorter patient stays and a growing emphasis on quality vs quantity of care are among the contributing factors. While the initial reaction of budget makers may be to just spend less across the board, a smarter approach is strategic …
