Scary Financial Challenges for 2014
In addition to shoring up its financial status through cost-cutting, Ochsner is looking at potential avenues for top-line growth.
"We are also looking at various growth opportunities in terms of how we work with physicians in our local market, as well as if there are ways to expand the markets we currently service," Hulefeld says. "We are looking for opportunities for shared savings for better utilization as we ramp up efforts from the population health perspective. This is a complex time in healthcare, and if we don't get good at population health, we aren't going to be as successful as we want to be."
Greg Pagliuzza, CFO at UnityPoint-Trinity in Rock Island, IL, part of UnityPoint Health, says one of his biggest concerns at the moment is all the uncertainty surrounding how healthcare reform will impact revenue.
"The relative quiet in the insurance world has exploded into much activity as a result of healthcare reform," he says. "As we build our revenue projections for 2014, we do not have experience as to the impact of expanded Medicaid. … Illinois has one of the lowest Medicaid reimbursement rates in the United States and is overhauling its reimbursement methodology to a format that is not finalized. This could increase or decrease reimbursement."
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