How Adapting the Five Rights of Medication Administration (5Rs) to Your Hospital Laboratory Provides a Structured Framework for Test Selection in Demand Management

07/27/22

In order to face the variety of challenges in meeting the demand for hospital laboratory services, a better test selection process is needed. Adapting the 5Rs to your demand management program can support enhanced patient care while improving laboratory capabilities, responsiveness and reduced costs.

More

ESG: What It Is and What It Means for Healthcare

07/21/22

Environmental, Social and Governance is generating buzz (and confusion) across the industry — but at its core, it’s about improving human health 

More

How the Expiration of MACRA’s aAPM Bonus Will Impact ACO Decision Making

07/13/22

Without congressional intervention, a significant financial incentive for physicians to participate in value-based payment models will disappear at the end of 2022. Learn what providers should be thinking about amid financial uncertainty. 

More

Getting Started with a Demand Management Assessment of Your Hospital Laboratory: Three Areas to Strengthen Operations and Reduce Costs

06/16/22

Laboratory testing is the largest medical activity in terms of volume and has a significant impact on care outcomes and costs. Hospital leaders that shift cost savings efforts to demand management can help improve quality and reduce costs. The first step is conducting an assessment, and here’s three examples of demand management projects that can strengthen operations and reduce costs. 

 

 

More

Ed Sullivan, the Beatles and Healthcare Strategy

06/14/22

The intolerance for health disparities calls into question the long-term sustainability of the traditional financing system. Our blog considers the challenges facing health systems that must optimize their performance under the existing system while keeping one eye on the possibility of systemic change in the years ahead.

 

 

More

Key Themes from the FY 2023 IPPS Proposed Rule and What’s Coming Next

06/02/22

In April, CMS issued its annual proposed rule to update the IPPS for fiscal year 2023. Based upon the policy changes and circumstances described in the proposed rule, CMS estimates acute care hospitals will experience a decrease of approximately $263 million in fiscal year 2023 compared to fiscal year 2022. Here are our key takeaways hospitals need to know about the IPPS proposed rule (our full summary of the proposed rule is available online) and what to anticipate for OPPS and PFS.

More

How a Demand Management Assessment of Your Hospital Laboratory Can Help Improve Quality, Reduce Costs

04/28/22

Laboratory testing is used across all care settings and specialties for screening, diagnosis and disease management, and has a significant impact on care outcomes and costs. While hospitals work to improve the health of their patients and communities, they continue to be confronted with financial pressures stemming from the COVID-19 pandemic, such as lost revenue and increased costs associated with labor and treating COVID patients. Hospital laboratory leaders tasked with identifying cost savings may come up short by focusing on traditional, often-used methods such as price reductions, improved contracting and inventory management. Shifting your focus to demand management can be an effective way to secure laboratory cost reductions while supporting physicians, improving outcomes and remaining abreast of emerging science.

More

Beyond Leadership: Five Factors to Sustaining Health Care Improvement

03/22/22

Many health care organizations can achieve top performance across multiple domains for a short period of time. However, sustaining those achievements year after year has often proven elusive. For the past 15 years, Vizient has evaluated the performance achievements of academic medical centers in Vizient’s Quality and Accountability ranking and compared the practices of consistent top performers with those of peer institutions with less consistent success. Here's what we learned.

More

The New Public Health Imperative for Hospitals

02/24/22

Hospitals have always been the organizations that truly matter when it comes to healthcare delivery. And now, highlighted by COVID, hospitals have become the organizations that truly matter when it comes to public health. Moving forward, hospitals will be asked by communities across the country to be the organizations that deal with a broader set of national problems related to the well-being of patients and communities.

More

AI, Breast Cancer, and a New Mindset for Healthcare

02/14/22

AI is a new idea, one that even data experts don’t fully understand. It requires big data, expertise, resources and a new view of the role healthcare plays in improving health and preventing disease.

More