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Top 10 Solutions required to Weather the Storm

Top 10 Solutions required to Weather the Storm. Jimmy Lewis Kathy Whitmire. 1) Manage to performance benchmarks. Critical Indicators Salaries, Wages & Benefits – 52% Days in A/R – 38-40 Supplies – 12% of Net Revenue $103,000 Net Revenue per FTE. 2) Telemedicine.

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Top 10 Solutions required to Weather the Storm

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  1. Top 10 Solutions required to Weather the Storm Jimmy Lewis Kathy Whitmire

  2. 1) Manage to performance benchmarks • Critical Indicators • Salaries, Wages & Benefits – 52% • Days in A/R – 38-40 • Supplies – 12% of Net Revenue • $103,000 Net Revenue per FTE

  3. 2) Telemedicine • Telemedicine is the Future of Rural Medicine • Leverages specialty services and brings them to your community for small cost • Reduces cost to deliver services to Nursing home, mental health, prisons, etc with same reimbursement.

  4. 3) CEO Involvement in the Front end • The Patient Access Dept. is the foundation of your A/R • The key to a successful bottom line • Business Office/HIM may resist change and may turn down new technology/solutions in order to prevent change or learning new processes • Request full analysis of Patient Access and Business Office processes annually

  5. 4) Political grass roots • Communication with your local and state politicians is key. • County Commissioners • State Representatives • State Senators • Invite them to visit your hospital / Town Hall Meetings – Stay in touch! • Your community and its leaders need to be reminded about how vital the hospital is to the overall economic success of your community.

  6. 5) Implement Technology Financial Solutions • STREAMLINE – • IMPROVE EFFICIENCY – • TRACK EVERY DOLLAR – • ENSURE COMPLIANCE • Technology makes data available • Benchmarking & Work Flow Tools Like– • QUADAX • nTelagent • Health Analytics • Stratesan

  7. 6) Cash flow management • THREATS TO HOSPITAL CASH FLOW: • Recovery Audit Contractors • CAHABA Prepayment review hold -CMS Rules • Medicaid Managed Care Conversion • Cost Report Settlements • Delayed DSH/UPL Payments

  8. 7) Webinar & HTHU Participation • Education required in this constantly changing environment • The survivors will: • Make education a priority for Management & Staff • Participate if FREE webinars giving updates on Medicaid / Medicare / RACS • Make recommended changes to improve • TRAIN – TRAIN - TRAIN • www.hthu.net

  9. 8) HTH Network Leveraging • Electronic Interqual Group Buy • Reducing cost of electronic admissions criteria from $30,000 to $10,000 • SHIP grant Programs - like ICD-10 • Ensuring smooth conversion to ICD-10 • FLEX – Financial Improvement Collaborative • For 13 Critical Access Hospitals • COMING SOON !- Benchmarking Data – Executive Dashboard • Aggregate data to negotiate pricing as a group

  10. 10) HITECH EHR Funding • $2,000,000 for Hospitals ($666,000) • $44,000 per Eligible provider ($18,000) • Eligible for YEAR 2 Payments – Oct 1, 2012 • EHR / MEANINGFUL USE / TECHNOLOGY PARTNERS • Healthland - Accentus -ION IT • HMS - PPM • Azalea - Technical Financial Solution Medispense– Healthport - DocQMed • RESOURCES FROM THE FLORIDA HIT Regional Extension Center ?

  11. 12) BUSINESS PARTNER SOLUTIONS • HomeTown Health Partner Program • Does the reference checking • Proven Best Practice Solutions • HTH holds partners accountable

  12. NO BRAINERS • nTelagent – • Upson - $100,000 Up Front Cash Collections in March • Quadax – • Cash Flow Mgmt & Denials Mgmt • Healthtrust Purchasing Group – • 15 – 20% Savings on your current Spend • Shared Imaging - Competitive Imaging Equip • Current MRI / Imaging Equipment for per use fee or lease • DAS- FFAM – RGL • Accounts Receivables/Collections

  13. NO BRAINERS • When is Outsourcing the right decision: • When it allows the hospital to deliver a higher level of service for Budget neutral or for savings • FACTORS: • Accountability • Limited Skills in Local workforce • Limited Funding for start – up and Equip • 6 months for Provider number or Physician credentialing -

  14. NO BRAINERS • 3 OUTSOURCING BEST PRACTICES: • Housekeeping – Maintenance – Dietary – HSG • Geriatric Psychiatry – ULTRA GROUP • Physical Therapy - Innovative Therapy Concepts • Cost Reporting – Audits -Reimbursement: • Draffin & Tucker, LLC • Keith Williams & Associates • Medical Malpractice – Liability Ins: • Gallagher Healthcare • Physician Recruiting • Pinnacle Health Group

  15. NO BRAINERS • Cost Reporting – Audits -Reimbursement: • Draffin & Tucker, LLC • Keith Williams & Associates • Medical Malpractice – Liability Ins: • Gallagher Healthcare • Physician Recruiting • Pinnacle Health Group

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