A report released by Moody’s Investor Services early in the fall of 2014 painted an alarming picture of the financial health of nonprofit hospitals. They have posted their second year of revenue declines and have experienced record-breaking low rates of growth of revenue. Median revenue growth has historically been around 7%; in 2014, it has dropped to 3.9%. Reasons for the low …
Hospital Supplier Management: A Holistic Approach
At the heart of every hospital is a commitment to providing the most comprehensive and complete care possible. From this core mission every aspect of managing a successful healthcare facility must be handled with diligence and attention to detail. At the same time, however, you want to spend more time providing excellent training for your faculty and unparalleled care for …
Oracle and Open World
Oracle’s Open World Convention is set to take place on Sunday September 28. 2014 and run through Thursday October 2, 2014. This year it’s all happening in San Francisco. Major events will take place at the Moscone Center, with other events at various hotels in the same area. The Moscone Center’s address is 747 Howard Street. Opening the event with his keynote speech will …
Hospital HR – Finding the Pieces to the Puzzle
Have you ever tried to put a puzzle together but there were pieces missing? In the healthcare industry, finding the perfect balance between supply and demand is a lot like finding that missing piece. The leaders of hospital HR are challenged with not only finding that perfect balance but doing it with efficiency. The hospital sector’s rapid industry growth is constantly changing …
Does ERP integration make you competitive?
ERP (Enterprise Resource Planning) integration is often prescribed as the panacea for hospital HR and planning processes. ERP systems were originally developed to enable organizations to adapt to changes in the business environment. How well do they accomplish this task in hospitals today?ERP integration in hospitals faces two issues: Implementation problems Structural problems Implementation issues may not be evident initially but can show …
The Affordable Care Act and Hospital Financial Management
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 …
