Hospital bottom line

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By Michelle Bowles. Click here for a PDF version of this article. In this era of rising costs and decreasing budgets, healthcare facilities are forced to find ways to stay competitive and increase their bottom lines — all while providing excellent patient care and attracting the best staff.

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In the study Impact of Emergency Department Crowding on Outcomes of Admitted Patients published in the Annals of Emergency Medicineresearchers confirmed a direct correlation between emergency room wait times and higher costs to treat patients. Even more importantly, the study revealed that patients who wait longer for emergency care have higher mortality rates. Changes in regulations are making profitability harder to achieve in hospital settings and private practices.

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The economic future for healthcare providers under President Donald Trump's administration remains uncertain. But that doesn't mean hospital and health system leaders aren't taking action to ensure their organizations remain financially solvent no matter what legislation comes down the pipeline. Although immediate major changes to existing healthcare legislation are unlikely following the White House's decision to pull the AHCA, Mr.

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For details, please visit our privacy policy. To acknowledge this message and use our site, please click continue. By minimizing manual tasks, staff has more time for patient care, significantly increasing patient satisfaction. Read on to learn 10 simple ways a best-in-class electronic data capture system can benefit your hospital, your staff and your patients.

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With no underlying goal or amount that hospitals are aiming to maintain or reach, the result can be costly — namely millions and millions of dollars lost through easy-to-fix mistakes. Establishing a bottom line can be achieved and will create not only a sense of accountability in the financial processes of your hospital, but also increase your long-term profitability. We recommend the following five steps to help you get there:.

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Sep Featured ArticlesHealthcare workforce trendsImproving patient care. The transition to a value-based environment has given the health care industry good reason to focus on patient satisfaction.

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Health system finances are taking a beating in the transition from fee-for-service to value-based care. The financial performance of U. Top factors driving the financial challenges hospitals face include shifts in utilization from inpatient to outpatient services, and growing competition from new providers such as retail clinics.

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The defining protocol at a hospital transfer center is clear: If a patient urgently needs care, and your facility is the best place for him or her to receive that care, you bring the person in, provide the care, and talk later about how it's going to be funded. That said, the transfer center must have appropriate policies and procedures in place in order to be a reasonable steward of the health care organization's resources, says Sue Altman, president of Phoenix-based Call Center Consulting Network. Her business now is "vendor neutral," offering strategic planning and positioning, among other services, for call centers.

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For a variety of compelling business reasons, healthcare systems should attend to their physician experience with the same level of care and intention as their patient experience. Creating a physician-centric work environment should be a high priority for healthcare system leaders. This post was adapted from a commentary originally published in Electronic Health Reporter.

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How can you make the case to administrators that your program provides an exceptional return on investment? The ability to make that case is increasingly important as programs look to CFOs and other senior management to fund staffing or pay raises for physicians already on board. Yet many hospitalist services find it hard to quantify what they bring to the table, not only in terms of savings but in other critical measures such as increased bed capacity.

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