Health system executives are taking note of the significant impact data has already had on their respective systems and what they can expect going forward. Rather than playing catch up, some leaders are taking proactive steps to better understand big data and implement strategies to make it work for their bottom line.
Whether that is analyzing the numerous characteristics of their patient populations, ensuring accountability for the data provided, or diligently monitoring the flow of data across all systems, leaders are honing their skills by...
Nurses make up the largest segment of the healthcare workforce and, therefore, have the potential to be drivers of the healthcare industry's evolution. To meet the demands of an increasingly value-based care environment, nurses must possess a different mix of knowledge, skills, education, and competencies than they have in the past.
Reducing supply chain costs is not limited to product pricing—efficiency gains can also cut costs.
Key components of efficient supply chains include getting the right supplies to the right place at the right time, as well as purchasing processes that are centralized and automated. Efficiency gains lower acquisition costs for supplies, but there are significant challenges. Efficiency gains should be measured, and they come with higher degrees of complexity, analysis, and coordination than pricing deals. In addition, investing in supply chain efficiency...
Savvy healthcare leaders recognize that diversity and inclusion is more than something “nice” to do; rather, it is essential to meeting an organization’s strategic goals as healthcare transitions to a value-based, patient-centered system that ties reimbursement to patient experience, population health, and patient outcomes.
To achieve these goals, healthcare organizations must develop a diverse and inclusive workforce and patient base to reflect the racial, ethnic, and cultural demographics of a community. They must also understand the unique needs of...
As healthcare costs pose an ever-greater burden on employers, they are growing frustrated with payers’ inability or unwillingness to create value and improve quality. As a result, employers increasingly seek to engage in direct relationships with the providers of care.
Such relationships can involve bundled payment programs for episodes of care, centers of excellence programs and narrow network tactics that can align private and employed physicians, hospitals and health systems, and employers.
Purchasing accounts for about 25% of operating expenditures at healthcare organizations. With a large portion of the bottom line as well as clinical outcomes at stake, finance leaders, physicians, and supply chain managers need to work together when making purchasing decisions. A clinically integrated supply chain that balances cost, quality, and outcomes can achieve efficiency and value objectives.