Posts Tagged ‘healthcare finance’

The Biggest Healthcare Trends of 2019 and What’s to Come in 2020

In our Healthcare Outlook for 2019 webinar, Stephen Grossbart, PhD, and Bobbi Brown, MBA, shared their predictions for the biggest trends of the year. Which predictions panned out and which didn’t? View this webinar as Stephen takes a look back at 2019 and makes his forecast for 2020.

So, what did happen in 2019? Following the 2018 midterm elections, we predicted a divided Congress would not pass policies to strengthen or weaken the Affordable Care Act (ACA). We were right. Meanwhile, Democratic presidential candidates debated the extent to which they would support Medicare for All. Insurance costs continued to rise, breaking $20,000 annually for families with employer-sponsored coverage, and CMS continued to support payment policies rewarding quality and interoperability as part of their payment policy.

Join Stephen as he looks in the rearview mirror at these important issues and how they impacted the healthcare industry in 2019 and then gazes into the crystal ball to predict the trends that will most impact healthcare in 2020. In this webinar, Stephen discusses the following topics and more:
• The continued focus on price transparency.
• Congress’ efforts to control prescription drug costs.
• Policies that may change the future of ACOs.
• What to expect going into the 2020 election year.

Be the first to comment - What do you think?  Posted by admin - January 13, 2020 at 3:20 pm

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Why Healthcare Costing Matters to Enable Strategy and Financial Performance

According to Moody’s Investment Service Analysis, not-for-profit hospital margins are at an all-time low of 1.6% while the American Hospital Association has found that 30% of all hospitals have negative margins. Financial pressures are continuing to increase in an environment of rising costs, lower payments, an aging population, higher patient responsibility and changing consumer demands. Now more than ever healthcare providers need to have an accurate picture of their costing information to enable precise, strategic decisions that will improve financial performance.

Activity-based costing has the power to do just that. In this webinar Steve Vance, SVP, Professional Services, Health Catalyst explores different costing methodologies and discusses why activity-based costing is the preferable method to manage margins because it directly ties services to their costs. Many healthcare organizations base their costs on generalized drivers such as relative value units (RVUs) through their chargemaster rather than on specific activities associated with their services, leading to inaccurate assumptions and poor decisions.

View this webinar to learn:
– Why activity-based costing should be your core tool for improving financial performance.
– The differences and implications between costing methodologies.
– How to leverage data from an Electronic Data Warehouse (EDW) and automate processes while improving accuracy.
– Ways that you can make strategic decisions using clinical and operational data when tied to costing data.
– Activity-based costing use cases such as contract negotiations, pricing decisions, population health management (PHM), and process improvement efforts

We hope that you will will view the webinar and learn from the depth and breadth of Steve’s extensive financial experience.

Be the first to comment - What do you think?  Posted by admin - May 23, 2019 at 11:20 am

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Healthcare Association Finds Rx for Marketing Overload by Taking the MarketingPilot 'Cure'

Healthcare Association Finds Rx for Marketing Overload by Taking the MarketingPilot 'Cure'

Chicago, IL (PRWEB) June 5, 2004

In 2003, the six-member marketing team at the Chicago-based Healthcare Financial Management Association was facing a burgeoning workload spurred by the growing complexity of healthcare finance. With more programs to promote as well as a stepped-up membership recruitment and retention campaign, the association began searching for ways to optimize the team's efficiency in the areas of information access, project management, collaboration, and strategic planning and analysis. Their remedy: MarketingPilot, a system that merges marketing data, tasks, results and more into one cross-referenced database specially built to meet marketers’ needs.

Six Staffers, Six Filing Systems:

HFMA services some 32,000 CFOs and other financial personnel employed by healthcare-related organizations from hospitals and medical group practices to insurance companies and accounting firms. Traditionally, each member of the association's marketing staff maintained personal files and spreadsheets pertaining to his or her work. This created islands of information with no common view. “No one could see the big picture, and sharing information required a lot of effort,” said Steve Rauchenecker, Director, Membership and Marketing. “If I needed a graphic file, I had to go to our copy and design specialist, who had to find it, zip it, drag and drop it into an email, and so on. There was a lot of unnecessary overhead.”

Prescription for Relief:

To increase productivity, Rauchenecker searched for a solution that would consolidate project tasks, deadlines, documents, vendors, expenses and other marketing data in a central location. MarketingPilot proved to be just what the doctor ordered, providing the ability to document and track the myriad details of each campaign for shared use, link all information relevant to a given project, and facilitate planning and reporting – all without the need for customization. The software was installed on the PCs of all six marketing team members in 2003, supplying point-and-click access to everything from personal to-do lists, creative assets and merge/purge histories to campaign budgets, results and analytical tools. “With MarketingPilot, we have a common playing field that is enabling us to spend more time on strategy and execution, and less time on who has what,” Rauchenecker said. “All the information we need is just a click away.”

Keeping Projects on Track:

Beyond maintaining a complete system of record, MarketingPilot has equipped HFMA with a battery of strategic and tactical tools for carrying out its various marketing missions. A “Briefs” tab on the interface, for example, gives project owners a built-in utility for documenting the objectives of each project in order to guide the team’s efforts. Other features of the system allow users to break each project down into discrete tasks, assign tasks, set reminders, track actual versus estimated task time, quickly set up repetitive production jobs, check task status, and much more. With a few mouse clicks, users can find all tasks assigned to a specific person or the entire group, all tasks for a specific project, all expenses associated with a task, and all related documents and digital assets such as contracts, proposals, brochures and ads – complete with authors and reviewers.

Faster Turnaround Time:

For HFMA, another benefit of MarketingPilot is the nimbleness with which the system makes it possible to respond to new opportunities, particularly to messages targeting specific segments ranging from CFOs and compliance officers to long-term care facilities and managed care organizations. The instant availability of strategy, collateral, vendor information, mailing lists and other resources on past promotions – including records of all prior merge/purges as well as which lists have yielded the best returns – is enabling the association to operate “more like a fox and less like an elephant,” Rauchenecker said. “We can react to opportunities faster than ever before because we don’t have to waste time reconstructing old campaigns or rummaging through old spreadsheets to unearth past results.”

Better Results through Better Reporting:

Over the long term, MarketingPilot will also help HFMA improve its marketing effectiveness by providing a structured system for capturing the results of individual campaigns, comparing results across campaigns, and aggregating all data in one location without the need to manually populate spreadsheets with data from each initiative. With a dedicated “Results” section for each campaign as well as default and customizable reports, the association can instantly determine which mailings or ads draw the highest response, track any metric such as seminar registrations or audio tape purchases, see the results of multiple campaigns in one view, and export data to other databases for further analysis. “MarketingPilot will show us where we’re effective, where we’re not, and where we need additional resources to do our job better,” Rauchenecker said.

With these and other benefits, the message is clear. For the Healthcare Financial Management Association, MarketingPilot is good medicine.

Client

  •     Healthcare Financial Management Association
  •     32,000-member professional association
  •     Provides resources to help healthcare finance professionals do their job better and stay abreast of new developments

Marketing Environment

  •     6-person marketing staff
  •     1 million+ brochures, flyers and other direct mail pieces yearly, plus broadcast email and faxes, ads, online content
  •     Promoting annual conference, seminars, audio teleconferences, e-learning classes, newsletters, association membership

Challenge

  •     No centralized repository of marketing data and materials
  •     No efficient means of assigning tasks, documenting completed work or checking project status
  •     No easy way to compare results and cost-effectiveness across campaigns

Solution

  •     Merge all data into MarketingPilot

Benefits

  •     One-stop access to all campaign data
  •     Central storage of all digital assets
  •     Instant view of task/project status
  •     Less time wasted searching for data
  •     Easy rollup and drilldown of expenses
  •     Complete results tracking
  •     Easy project analysis and comparison

About the MarketingPilot System:

MarketingPilot is the first and only integrated marketing information system for managing the marketing process. Designed by marketers for marketers, it consolidates all of an organization’s marketing knowledge for central access and provides collaborative tools to manage campaigns, events, projects, jobs, media, collateral, budgets and expenses. MarketingPilot enables marketing teams to improve productivity, reduce costs, and track and improve results.

About MarketingPilot LLC:

Founded in 1999, MarketingPilot Software LLC is dedicated to fostering marketing best practices by bringing the entire universe of marketing data into one application for complete control and comprehensive analysis. The company's software is used by corporate marketing teams, financial services customers, major hotels, mail houses and others to maximize the effectiveness of marketing initiatives.

+1.847.864.4777 | phone

+1.847.589.2924 | fax

http://www.marketingpilot.com

Be the first to comment - What do you think?  Posted by admin - March 5, 2017 at 5:32 am

Categories: Health   Tags: , , , , , , , , , ,