Forbes A recent survey conducted by Polygenius has yielded some disappointing results about American understanding of healthcare finance, their own insurance policies, the broader context of how the U.S. system works, and even the ability to identify basic portions of the Affordable Care Act. Despite a global pandemic and an election season that included healthcare related talking points, the survey found …
HR is Essential in the Healthcare Industry
EMR Industry The importance of Human Resources in the healthcare industry is often overlooked, but the benefits provided by a well-trained, knowledgeable HR staff are essential the successful operation of any healthcare facility. These professionals are responsible for much of the “behind the scenes” work that keeps hospitals and other facilities running, including legal, strategic planning, worker benefit management, new …
Healthcare Supply Chain Looking to Value-Based Contracting
Healthcare Finance A recent survey of 200 C-suite healthcare executives and supply chain leaders yielded valuable insights about value-based contracting. The majority of respondents prioritize value-based contracting with suppliers, and are also interested in more suppliers providing such options. While a small percentage of those surveyed are already using such contracts, many also responded that they don’t have enough information …
Strong Finances Earn Health Systems Strong Ratings
Becker’s Hospital CFO Report Based on reports from several leading finance analysis groups, a collection of 12 healthcare systems from across the United States was recently featured by Becker’s Healthcare, each touting a AA rating. The report reviews the stability and overall financial position of each, and predicts growth and future performance based on the credit rating agencies evaluating each …
Healthcare HR Manager Responsibilities
Chron Healthcare HR managers play a vital role in the daily operation of hospitals and healthcare facilities of all kinds, but the responsibilities involved might be murky for individuals outside of the job. While the specifics may vary from facility to facility, the core components of HR management within the healthcare industry are: staffing and placement, legal research, management of …
Impact of COVID-19 on Healthcare Finance
Modern Healthcare In a recent episode of the Beyond the Byline podcast, finance reporters Alex Kacik and Tara Bannow discussed the impact COVID-19 has had on hospital finance, as well as what professionals in that industry can expect in the future. They touch on increased margins related to an influx of privately insured patients, the buying power of larger healthcare …
Resilience is Essential for Healthcare Supply Chain Leaders
Supply Chain Management Review The tremendous effects of the COVID-19 pandemic are still unfolding, but have already provided valuable lessons for leaders in healthcare supply chain management. In the wake of so many disruptions and unexpected setbacks, the need for more resiliency is becoming a priority across the industry. Leaders are gaining a deeper understanding of the importance of many …
The Growing Role of Technology in Healthcare HR
SHRM Digital information and cloud technology have made significant changes in the way healthcare HR professionals do their jobs, and this trend is sure to continue over the next decade and beyond. Not only are these technologies streamlining operations and helping to improve patient and business outcomes, they have also become an attractive component of recruiting new staff, as well …
Resiliency is a Must for Healthcare Supply Chain Leaders
Supply Chain Management Review As the pandemic continues to disrupt the healthcare industry, supply chain leaders have faced – and continue to face – numerous challenges. As supply chains scramble to solve unforeseen issues and fill unprecedented needs, developing resilience and agility is an absolute must. For many leaders, investing in personal training to develop these skills will continue to …
Hospitals Face Negative Operating Margins in 2021
Healthcare Finance Despite the steadily increasing vaccination numbers, hospitals across the United States are still navigating the financial impact of the pandemic. Data and projections for 2021 aren’t optimistic, with a recent report from Kaufman Hall estimating that a minimum of 39% of hospitals will have negative operating margins throughout the year, particularly those in rural areas. Even as public …
