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Aug 25, 2017 10:00:00 AM

Why Your Hospital or Physician Practice Must Embrace Risk

Risk tolerance is an interesting thing. Those who make the biggest bets often are actually control freaks—maybe because they know that, by having a strong grasp on the factors that influence the deal, they greatly increase the likelihood that they will come out ahead.

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Topics: ACO, MACRA, Cost Accounting, Value-Based Pay, Risk Management

Jun 9, 2017 9:00:00 AM

Activity-Based Costing: The Rock Star of Payment Model Reform

Think you can’t afford to invest in a cost-accounting system? The truth is, you can’t afford not to. As Medicare and other payers increasingly tie payments to value, understanding and reducing your cost structure will become an even more urgent priority.

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Topics: Medicare, Cost Accounting, Payment Model Reform

Jul 21, 2016 10:30:00 AM

Questions to Ask While Moving from Volume to Value

In 1978, REO Speedwagon released an album with its feature song, “Roll with the Changes.”  This song never fails to give me an adrenaline rush, especially as I run or bike, and I think it’s pertinent to what healthcare professionals are experiencing since health reform became law in 2010 and CMS began its reimbursement initiatives to transition from volume to value.

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Topics: Value-Based Care, MACRA, Cost Accounting

Jun 24, 2016 11:00:00 AM

Pressure Points for Physicians in Healthcare Transformation

The HORNE Healthcare team has been blogging recently about the necessary business model changes we think are inevitable to healthcare transformation. We’ve focused on the macro level, urging healthcare organizations to take action. While I believe our advice is sound for large systems, I am additionally concerned about the pressures physicians are feeling in their practices, particularly in small practices. In this blog, I’d like to introduce three issues I think will be important to physicians going forward. I will write in greater depth on each topic in the coming weeks. 

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Topics: Physicians, ACA, Transformation, Cost Accounting

Jun 16, 2016 12:00:00 PM

So You Have a Cost Accounting System, Now What?

As I help healthcare organizations create effective cost accounting systems, the number one complaint I hear is: “I don’t think this report is accurate” or its second cousin “This just doesn’t look right.” My own father gives me grief because he doesn’t trust accounting systems.

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Topics: Patient Care, Cost Accounting, value

May 26, 2016 11:00:00 AM

Failing to Act Now May Put Your Healthcare System at Risk

At a recent national conference, I heard top executives from some of the largest healthcare systems in the country discuss their business models and their healthcare delivery transformation during the past several years. We can count on the Geisingers and the Mayos, as well as other large systems, to lead the way, but I was struck by the extent of their progress towards offering value and outcomes to patients rather than the traditional models present today in many systems. They are doing, quite successfully, what many smaller systems are only beginning to debate. They are proving that new models can deliver better patient care and still be profitable.

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Topics: ACA, Data Analysis, Transformation, Cost Accounting

Mar 17, 2016 11:30:00 AM

You Can’t Catch the “Big One” Without Reliable Information

Fly fishing, one of my favorite hobbies, is like process improvement. Here’s how: Fly fishing seems very simple – you throw a line in the water and wait for dinner. Of course, it’s much more complicated than that because rainbow trout are clever; they won’t bite just anything. 

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Topics: Cost Accounting, Process Improvement

Mar 10, 2016 10:30:00 AM

Are You Throwing Darts in the Dark?

I was talking to a CEO of a healthcare organization recently, and I asked him what plans he had made for incorporating cost accounting into his financial processes. He admitted, a little reluctantly, that he wasn’t making plans at all. “How can I afford to go into that kind of detail?” he asked.

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Topics: Healthcare, Cost Accounting

Mar 4, 2016 10:00:00 AM

Are You Ready to Capitalize on New Opportunities in Healthcare Transformation?

Bundled payments. Volume-to-value. Cost accounting. Process improvement. Patient engagement. Population health. Organizational leadership.

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Topics: Healthcare Quality, Population Health, Healthcare Reform, Transformation, Cost Accounting, Process Improvement