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Cost Saving Measures in Healthcare for Financial Recovery

WebPerhaps the most obvious of the best cost saving measures in healthcare is to develop a cost reduction program for your organization. However, while most health …

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URL: https://www.stratadecision.com/blog/cost-saving-measures-in-healthcare-for-financial-recovery/

Strategic Healthcare Planning for the Road to Financial Recovery

WebStrategic planning for healthcare encompasses both a short-term rolling forecast that looks out 18-24 months into the future and a long-term financial plan with a …

Category: Health Go Health

Healthcare and Hospital Capital Budget

WebCapital distribution and use is a key part of a successful capital budgeting process in healthcare. Capital distribution and use must have definite value, such as apportioning …

Category: Health Go Health

Lower Costs in Healthcare Results in Improved Treatment …

WebThe average direct variable cost per case for patients with a QVI, at $32,962, is significant compared with that without a QVI (i.e., $6,355). The data show that for …

Category: Health Go Health

How Cleveland Clinic is Leveraging Data and Empathy to Change

WebFounded almost 100 years ago, the mission of the Cleveland Clinic was very simple: “care for the sick, investigate their problems, and educate those who serve.” …

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A Guide to Activity Based Costing in Healthcare

WebThe CGMA defines activity-based costing (ABC) as “an approach to the costing and monitoring of activities, which involves tracing resource consumption and …

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Strategic Planning in Hospitals

WebStrategic health planning involves creating objectives and setting goals for where a company would like to go in the future, and then constructing a plan to achieve these …

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Why Strategic Planning is Important in Healthcare

WebStrategic planning in healthcare is critical for healthcare organizations to succeed. Understanding how your organization operates is the key to creating an …

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How EPMs are Transforming Healthcare Technology

WebNovember 16, 2022. Today, a new category is emerging for healthcare: the Enterprise Performance Management (EPM) system. An EPM system is a healthcare software …

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Infusing the Healthcare Capital Review Process with Discipline

WebDuring the past four years, leaders at Intermountain Healthcare in Salt Lake City have revamped their capital allocation process. Their goal was to ensure that …

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Monthly Healthcare Industry Financial Benchmarks

WebThe median investment per physician FTE for Q1 2024 was $324,183, up 11.9% versus Q1 2023 and up 12.7% versus the fourth quarter of last year. Physician productivity …

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12 Budget Principles That Create Positive Change in Healthcare

Web12 Beyond Budgeting Principles*. 1: Engage and inspire people around bold and noble causes; not around short-term financial targets. 2: Govern through shared …

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The Importance of True Benchmarking In Helathcare

WebOriginally introduced at the Xerox Corporation starting in the 1970s, competitive benchmarking has a long history across industries. But the pressure to …

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Strata Financial Software, Data, and Insights to Drive …

WebStrata has been given the Becker’s Healthcare “Top Place to Work in Healthcare” Award for six years, was voted “Top Place to Work” by the Chicago Tribune for the past two years, …

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Q&A: The future of capital and equipment planning for …

WebSponsored by: E ach year, hospitals and healthcare systems must continue to plan for new investments in their equipment and capital. Because of shifts in policy and consumerism, …

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Controlling Labor Costs in Healthcare

WebThere are many factors that are contributing to the ongoing issue of higher labor costs in hospitals and healthcare systems, three being: The U.S. Bureau of Labor …

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Strata + EPSi: Meet the new Strata.

WebThe combination of Strata + EPSi creates the definitive market standard in healthcare for financial analytics, planning and performance solutions. With a combined network of …

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Finding the Root Cause of Cost Variation in Care Practices

WebThe cost savings potential amounted to approximately $12 million, emanating from such areas as length of stay (LOS), supplies, imaging, and pharmacy. By focusing …

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The Future of Capital and Equipment Planning for Hospitals

WebAugust 16, 2019. Each year, hospitals and healthcare systems must continue to plan for new investments in their equipment and capital. Because of shifts in policy and …

Category: Health Go Health

Duke Shares Structured Capital Approval Process Strategies

WebDuke University Health System’s rigorous approval process for $1 million-plus capital requests has served the health system well for more than a decade. Fourteen years …

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