Latest Insights
CFO Connection: Mike Allen - The CARES Act
Q: What are your thoughts on the CARES Act and the support it has provided?
This is one of many videos in my new series “CFO Connection” where I interview Healthcare CFOs from around the country about their approach to thriving in the Healthcare industry.
A conversation with Artifact Health
I sat down with Artifact Health to discuss a wide range of topics including the impact of COVID-19 on hospital revenue cycles and how healthcare organizations can maximize cashflow during this time. Read the full interview over at Artifact Health.
COVID-19 Revenue Cycle Performance Metrics
One Minute with Me. Hospital and health system revenue cycle performance metrics look good in April - e.g. debit A/R is down 16.1% nationally. Is it real? No.
South Florida Hospitals Trying to Lure Patients Back
Although many Florida hospitals reopened for non-emergency medical procedures on Monday, they found themselves in an unanticipated position: convincing patients to return. After six weeks of hearing that hospitals are ground zero for the COVID-19 crisis, some South Floridians say they are too afraid of catching the virus to go to one.
Beyond the COVID-19 Surge
One Minute with Me. My thoughts on how hospitals can prepare to move beyond COVID-19, successfully.
In the Midst of Chaos, There is Opportunity
One Minute with Me. Is your organization able to turn challenges into opportunities for innovation?
Leadership Principles
One Minute with Me. There are two types of leaders: “The Visionary Leader” and “The Practical Leader.” Which one are you?
CARES Act No Match for Drastic Decline in Outpatient Net Revenue
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is aimed at providing relief for individuals and businesses that have been negatively affected by the coronavirus pandemic. The legislation contains many aspects and recipient categories, with healthcare being a major beneficiary.
‘C’mon back,’ says Baylor Scott & White in a Bid to Attract Patients and Boost Revenue
“Increases in patient volume from COVID-19 cases appear to have been dramatically offset by declines in other parts of the business, said Brian Sanderson, managing principal of health care services at Crowe. And federal relief packages, such as the $100 million sent to Baylor last month, won’t cover the gap…”
Hospital Volumes Hit Unprecedented Lows
Hospital volumes have dropped so dramatically and quickly since the end of February that many health system financial executives are scrambling for sources of cash.
Excluding NYC AND SF, Hospitals losing $1.4B In Revenue Per Day Due To COVID-19 Pandemic
Outside of New York City and San Francisco, hospitals across the country are losing approximately $1.4 billion in net revenue per day due to the ongoing coronavirus disease 2019 (COVID-19) outbreak, according to a Crowe LLP report released Friday morning.
Crowe Revenue Recovery Program
Net revenue for outpatient services is down but revenue for COVID-19 patients is up. What does this mean for your hospital?
Financial Impact on Hospitals
Many hospitals are preparing for "the surge" of COVID-19 patients. What does that look like, volume-wise? Here's a health system that has been through the surge, and what volume looks like now. Cutting to the chase ... the "surge" is not revenue recovery. Not even close.
What Hospital Financial Executives are Saying
For our health systems, it's now the clinical front line AND the financial front line. Here's what we're hearing from healthcare financial leaders.
Foundational Changes to Shape Our Future
The theme of this year’s virtual symposium was “foundational changes to shape our future.” What does that mean? It means that the way the business of healthcare will be done and should be done tomorrow can’t happen without some fundamental changes in the way the business of healthcare is done today.
HCIV Update
One Minute with Me. Our Healthcare practice continues to deliver incredible value to our clients.
Is revenue cycle management co-sourcing the new outsourcing?
"For many situations, we recommend to health systems - don't outsource the entire process," says Brian Sanderson, National Managing Principal of Crowe Horwath LLP's Healthcare Services.
Get Ready for the Autonomous Business Office
Technology in industries, including financial services and manufacturing, has evolved rapidly over the past 20 years, with offices becoming more and more automated and digitized. Consider the leading companies in market capitalization in the early years of this century: Hard-asset companies (think GE and Walmart). Today’s leaders in market cap? Digital companies (think Apple, Amazon, and Facebook).
Checklist: Is Your Organization Ready for the Future of Healthcare Finance?
Healthcare organizations should prepare for what’s next in healthcare finance. Answers to the following eight questions will give finance leaders an accurate read on how ready they are for the future of Healthcare Finance.
Patient Accounting System Conversion Results in Revenue Cycle Disruption at Hospitals, Data Shows
MediRevv: "The effects of a PAS conversion can have a dramatic impact on a hospital's revenue cycle. Although the long-term benefits of system conversion might outweigh the short-term challenges of implementation, the additional costs associated with implementations can be substantial if they're not tightly managed," said Brian Sanderson, managing principal of Crowe healthcare services, the organization spearheading the report.
Read the full article here.