Scary Financial Challenges for 2014
Pagliuzza says he is also concerned about the health insurance exchanges and the many mysteries that surround how they will impact revenue.
"The greater unknown is the impact of exchanges," he says. "The anticipated growth in insurance coverage is unknown. The net revenue impact is unknown due to the relatively high deductibles of the offerings. The competition is forming alliances that would have not occurred without healthcare reform, and the impact of this is unknown."
High risk from high-deductible plans
Eddie Soler, executive vice president and CFO at Florida Hospital Health System in Orlando, sees the growth in high-deductible health plans as a big threat to his organization.
"The majority of patients on a higher deductible plan do it to reduce the monthly premium. Most of them can't afford the higher deductible, which means our ability to collect it is severely compromised. Health reform promises to insure more individuals, but my concern is that there will be more than today who are underinsured due to these higher deductibles."
Ochsner's Hulefeld says the pressure is on providers to help protect their revenue by making sure patients understand their own coverage and their own financial responsibility.
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- Consumerism Drives Healthcare Branding, Rebranding Efforts
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- How Digital Strategy Shapes Patient Engagement at Boston Children's Hospital
- 3 Traits Personality Assessments Can't Reveal
- Antibiotic Overuse a 'Huge Threat' to Patient Safety, Says CDC
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- Carondelet to Pay $35M to Settle Fraud Allegations
- CHS Hacked, 4.5M Patient Records Compromised