Financial matters are bubbling up again in the health and human service landscape. The pandemic hasn’t created new financial problems—the effects of integration, more managed care, more competition, and growing value-based reimbursement have existed for a while. But the turbulence in the market landscape has exacerbated the existing financial troubles of provider organizations.
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Pandemic-driven market forces are challenging the sustainable business models for specialty health and human service provider organizations, creating a more competitive environment with tighter margins, a need for more capital, and more pressure on value-based reimbursement (VBR). With this volatility, monitoring and managing finances becomes more important. These market shifts change the profitability and sustainability…
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Many health and human service executives are under the impression that value-based reimbursement (VBR) models alleviate the need for organizations to worry about unit costs and productivity anymore. This is definitely not the case. In fact, managing unit cost is just as critical, if not more, in a value-based payment environment (see Value-Based Reimbursement: The…
Read MoreThere have been financial ups and downs in my lifetime, but no crisis has been quite so unique and acute as the COVID-19 pandemic. What started off as a flu-like illness in China, has spread worldwide, causing more than 5.2 million deaths worldwide (including 775,000 in the United States alone) and cause market disruptions around…
Read MoreOne of the most important changes organizations must make during and after a crisis (such as a pandemic like COVID-19) is adjusting their revenue cycle management model. This was the topic of a classic seminar featuring OPEN MINDS Senior Associate David E. Wawrzynek and Vanessa R. Lane, MBA, Vice President, Revenue Cycle Management/ Data…
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