HealthLeaders Media Finance - January 11, 2010 | Go Lean (Part 2): Don't be Scared, It's Only Change View as a Webpage | Subscribe for Free
Go Lean (Part 2): Don't be Scared, It's Only Change
Karen Minich-Pourshadi, Senior Editor-Finance

Change brings fear, but it often brings progress. You see, there is a misconception by some in healthcare—particularly the clinical staff—that Lean is about efficiency without regard to caring. Getting Lean to work at your facility requires you as CFO to help break down these preconceived notions and show the staff why this is beneficial to them and their patients. [Read More]
  January 11, 2010

 
Editor's Picks
Economic Climate Changes Banks' Relationships with Hospitals
Hospitals need money to maintain facilities and to grow, but where can a CFO turn for help during these strange financial times? HealthLeaders Media Editor Les Masterson takes a look at the new relationship between hospitals and financial institutions and how hospitals and banks are approaching the search for capital. [Read More]
Getting Everyone on the Same Page to Achieve Healthcare Value
Just as the success of a "Lean" strategy means getting everyone on your team to buy in, understanding and achieving real value in healthcare depend on uniformity of thought. The Institute of Medicine held a roundtable on the topic in 2008 and they recently released their observations and opinions in a new book called Value in Health Care: Accounting for Cost, Quality, Safety, Outcomes, and Innovation. Our Quality Editor Janice Simmons breaks down the key points toward making healthcare value a reality. [Read More]
Florida systems say joint venture will save lives (and costs)
The University of Miami Hospital, Baptist Health South Florida, and Mercy Hospital announced Friday they will fund treatment, for one month, for 40-some dialysis patients who have lost their support from Miami-based Jackson Health System. The three systems said the $100,000 move could save lives while saving costs in their own emergency rooms. On Dec. 31, the financially struggling Jackson decided to drop contracts with out-patient dialysis centers to treat persons who are not covered by insurance. The move saves Jackson $4.2 million a year. But since the patients lost their funding, the other systems feared the only way the patients can get care is to show up in their emergency rooms—where they are likely to be sicker and require costly treatment. [Read More]
Executives skip Massachusetts hearing on rising healthcare costs
Leaders of some of the Massachusetts' largest hospitals failed to show up at a public hearing last week to answer state regulators' questions about what is driving up healthcare costs. The hearings on hospital costs are part of a three-month probe by Gov. Deval Patrick's administration that started as an investigation into the reasons for the disproportionately high health insurance rates paid by small businesses. "We are obviously disappointed more providers have not accepted our invitation," Barbara Anthony, undersecretary of consumer affairs and business administration, told the Boston Globe. [Read More]
 
Finance Forum
Counterintuitive Thinking During Difficult Times, Part 2: Bold Growth Strategies
In Part 1 of this article, bold revenue growth strategy requirements are described as possessing a concurrent moderate-to-high degree of innovation and impact. Four categories of such strategies were identified (i.e., acquisitions/mergers, physician-oriented, patient and employer-oriented, technology-oriented) and examples provided. To accomplish this end, management teams and boards should consider striving to put in place the following enablers of bold strategy generation. [Read More]
 
Finance Headlines
Unions rally to oppose a tax on health insurance
New York Times - January 11, 2010
Simmering spat over payments between MA governor, Boston Medical boils over
Boston Globe - January 8, 2010
How interest groups behind healthcare legislation are financed is often unclear
Washington Post - January 7, 2010
More health aid gets backing
Wall Street Journal - January 7 2010
 
Sponsored Headlines
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From HealthLeaders Magazine
20 People Who Make Healthcare Better
HealthLeaders December 2009 The very essence of healthcare is to make a difference for good. In our annual HealthLeaders 20, we offer profiles of some who are doing just that. [Read More]
 
Service Line Management
Emerging Service Lines
Hospitals that lead the way in emerging service lines may find themselves positioned to be market leaders in the future. Here's a look at which services are emerging and why. [Read More]
 
Money Talk

A look at one hospital's struggles to improve

Tenet Healthcare Corp., Dallas
Rating: B3
Outlook: Positive
Affected Debt: $4.5 billion
Agency: Moody's
Remarks: The positive outlook reflects the reduction of refinancing risk given the company's recent capital transactions. Further, Moody's believes that recent improvements in leverage levels that were accelerated with the repayment of debt from the proceeds of the convertible preferred stock can be maintained and will likely continue to modestly improve based on further EBITDA growth.
[Read More]
 
Audio Feature

Seattle Children's Hospitals Builds Lean: An interview with Cindy Evans, vice president of ambulatory and regional services and medical specialties at Seattle Children's Hospital, looking at a creative, "Lean" approach to construction of an outpatient facility. [Listen Now]
 
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