HEALTHCARE COSTING. March 8, 2018
|
|
- Rudolph Summers
- 6 years ago
- Views:
Transcription
1 HEALTHCARE COSTING March 8, 2018
2 Contents Objectives Healthcare Costing Trends (RSM) Perspectives on Trends and Optimization of Tools (EPSi) Costing Journey Experience (Mayo Clinic) Questions and Answers 2
3 Objectives By the end of this webcast you will: Have an updated understanding of healthcare costing trends Gain insights on costing methods and tools deployed for increased visibility and confidence in managing profitability at a department, physician or encounter level 3
4 INTRODUCTIONS 4
5 Today s Speakers Greg Maddux, Partner - RSM Consulting John Gragg, Chief Operating Officer - EPSi Todd Wilkening, Vice Chair, Management Accounting - Mayo Clinic 5
6 HEALTHCARE COSTING TRENDS RSM 6
7 Speaker Greg Maddux Partner, Regional Management Consulting Leader Greg works closely with key management to develop and implement tactics for improving process efficiency, operational performance and profitability results for organizations. He has worked with mid-sized to Fortune 50 businesses in a variety of industries including healthcare, insurance, manufacturing, higher education and other sectors. He specializes in cost management and profitability improvement, finance transformation, M&A integration, and shared service design and implementation to create higher performing organizations. Greg s background includes more than 25 years experience in providing consulting services, as well as experience with a Big Four firm and in private industry.
8 You can t manage what you don t measure. Peter Drucker 8
9 Healthcare Market Pressures Patient care is increasingly being moved away from hospitals and into outpatient settings, other places of care, or the home Independent hospital organizations are looking to merge with competitors to scale administrative costs and spread the risk of a growing and diverse patient population as well as increase leverage with payers With heightened customer focus on their healthcare costs, price transparency is becoming increasingly important 04 Text Here Market Pressures For many healthcare organizations, costs are increasing at a faster pace than reimbursement 9 Reimbursement is evolving towards value-based payment models that reward high quality and lower cost with shared savings
10 Costs Can be More Optimally Managed Applying the ideas of W. Edwards Deming, recent studies show that approximately one third of all healthcare costs is wasteful; this provides a huge potential for cost improvement. Percentage of Waste 5% 45% 50% 10 Production-Level: Inefficiencies in producing units of care (e.g. drugs, lab tests, x-rays, etc.) Case-Level: Inefficiencies in delivery of care Population-Level: Systemic inefficiency in performing unnecessary procedures based on diagnoses Source: Harvard Business Review
11 Value-Based Reimbursement is Moving Forward Momentum towards Value and Risk-based reimbursement, with CMS leading the charge 11 Source: Centers for Medicare & Medicaid Services
12 Framework for Healthcare Transformation 12
13 A Critical Need for Encounter Level Costing Frequent disconnect between cost of service delivery vs. revenue/reimbursement and value Movement towards value-based or risk-based reimbursement A critical need for an accurate view of costs & margin at an encounter level The increased number of employed physicians and care providers The need to manage patients through the entire continuum of care 13
14 Current State of Costing in Healthcare Costs for the same procedures may vary widely by physician and location yet not be detected At times, a lack of confidence in the accuracy of cost information across the organization delays decision making and leads to arbitrary spending cuts at the income statement level Methods for developing standard costs are often inconsistent across multiple sites and departments Standard costs are infrequently updated A culture and cadence for frequent review of procedure level margin results is often lacking Commonly used Excel and ad hoc databases have limitations for providing an efficient means to monitor and update costs, provide drill down and reporting capabilities New capabilities are needed to have accurate visibility into service/procedure level cost information core systems used by health care providers currently don t specialize in these capabilities 14
15 Sample Cost Breakdown at the Procedure Level Median Variable Cost per Procedure $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 Physician Comparison: Total Knee Replacement Laboratory LOS Imaging Therapeutic Services OR Time Cardiovascular Supplies Pharmacy Blood $0 Dr. A Dr. B Dr. C Dr. D 15 Source: Strata Decisions
16 Benefits of an Accurate Costing System Improved decision making and analysis An effective costing system affords decision makers the ability to understand the cost of every process within their operating and care cycle from the billing team to clinicians Leads to more cost effective resource allocation, outsourcing decisions and greater focus on the organizations core competencies More accurate capture of costs More assignment of direct expenses to different levels (e.g. encounter, physician, procedure, etc.) Data can be extracted from your Electronic Health Records (EHR) software and ERP systems to formulate accurate costing models Measurable service line margin improvement 16
17 Costing Methods Traditional costing has evolved into more sophisticated allocation methods TRADITIONAL COSTING ADVANCED COSTING RCC RVU Standard Cost VCC Costing ABC Costing Product Line Costing Expeditious approach utilizing charge as an allocation basis for costs Relative allocation of expenses based on department observed studies Designates the stored cost as the true cost and push this directly to the patient Variable costing that dynamically costs based on the charge and quantity on the patient record Create new activity codes based on charge detail and frequency of occurrence on the encounter record Assign costs to patients based on encounter cohorts, even when charges are not present 17
18 Example Encounter Costing Flow Costs: Map logical cost pools from the GL to profit and cost centers Activity Drivers: Charge Master Volume and other Drivers Costed Encounter: General Ledger Chargemaster CPT Codes, etc. Patient Encounter Analyze and Report by Various Attributes: Patient Care Labor Med Supplies Implant Devices Pharmacy CPT Codes (with RVUs developed & surrogates) Apply Costs based on RVU volumes at Encounter level (with attributes) Assign Direct Charges Patient Care Labor Med Supplies Implant Devices Pharmacy -Patient - Physician - Location -Payer - Department - Service Line - Other Desired Categories Facility & Indirect Costs Other Drivers Facility & Indirect Costs 18
19 19 Continuous Cost Improvement Framework Develop Costing Model & Platform Stratify Procedures (volume & $) Engage Key Stakeholders Pilot Costing Model (Selected Procedures) Deploy Reporting & Accountability Cadence Analyze Data & Identify Opportunities Revise & Implement Solutions Patient Outcomes Financial Results Monitor Ongoing Costing 19
20 Developing a Costing Model Selection Define your overall requirements for a costing model and system Engage key department/physician leaders early on Select a costing system based on future requirements Identify and select a population of higher volume and higher $ procedures Take a pilot approach, breaking the effort into phases to gain momentum Define Your Costing Model Approach and Inputs 20 Define costing approach, data requirements and data feeds from your general ledger, EHR, etc. systems Map general ledger costs into appropriate level of cost pools Assign direct charges and pull in actual Charge Master data to full extent possible Determine where to utilize activity-based and RVUs/standard costing approaches Define key attributes needed for reporting and analytics
21 Developing a Costing Model (continued) Engage Department Leaders and Selected Physicians Gain their agreement on costing assumptions specific to their area Design and Build Create the working model with the collected inputs Identify any gaps and develop methods and supporting assumptions to fill them Develop Reporting Views for Analysis Create reporting views illustrating cost per procedure by site, by physician and other dimensions Analyze results with Department leaders/physicians Establish clear targets and accountabilities Together, look at outcomes and cost by physician and encounter Refine and develop on-going cadence Measure Outcomes in parallel Refine and Implement Next Phases 21
22 Analytics Drive Cost Efficiency & Quality Data Analytics Margin and Quality Insights by: Payer Location Physician Service Line Department Major Disease Categories (MDC s), Diagnoses Related Groups (DRG s), and ICD procedure and diagnosis codes 22
23 PERSPECTIVES ON TRENDS AND OPTIMIZATION OF TOOLS EPSi 23
24 Speaker John Gragg COO, EPSi John is veteran of decision support in healthcare for more than 30 years, implementing cost accounting in over 400 hospitals nationwide. He provides comprehensive budget / decision support advisory services based on industry observed leading practices. John is a former Managing Director at Deloitte, has held key senior executive positions for leading HIT vendors like Cerner and Eclipsys, and led the consulting practices for boutique vendors like Avega and HCm. He is currently Chief Operating Officer of Allscripts EPSi business unit, and directly oversees EPSi s consulting and implementation practices. 24
25 Evolution of Costing Systems Pre Costing First Generation Costing Systems Mainframe Midrange Microcomputer GL only costing Cost Report Procedure Based cost accounting RCC/RVU/Standard Second Generation Costing Systems Client Server Integration with clinical data Advanced Costing Techniques Future Cloud Real-time analytics and predictive forecast models 25
26 Sample Decision Support Architecture
27 Sample Cost Accounting Maturity Model Maturity models can show the extent of adoption of best practices COMPONENT EXPLORING EXPANDING EXCELLENCE LEADING Methodology Are costing systems fully integrated with other organizational financial and nonfinancial systems? Has the organization established specific cost drivers as a measure of activity consumption by products? Ratio of Cost to Charges (RCC) There is no integration of systems. There are few established cost drivers. Combination of RCC & RVUs There is no integration of costing systems with other systems. Some data is manually fed into the costing system. There are no defined cost drivers consistent across the organization. There are some ad hoc cost drivers. All Cost Centers based on RVUs There is some integration between costing and other systems, in particular the GL. Cost drivers are defined for many products or services but validity varies. Advanced Costing methodologies The costing system is integrated with other systems, with automatic feeds as appropriate. Cost drivers have been defined for all products or services and are valid measures of cost consumption. Has the organization established specific methods to measure resource consumption? There are few established methods. No organization-wide methods have been defined. There are some ad hoc methods. Methods are defined for many activities but validity varies and many are proxy methods. Methods have been defined for all activities and are valid measures of cost consumption. 27
28 Value of automated costing systems Cost accounting programs enable sophisticated insight empowered by data Physician Variation comparisons to not only establish customized targets but seamlessly monitor progress & adjust as needed Financial Impact for Quality Outcomes to understand the frequency, costs, and reimbursement for each event type Population Health cost comparisons to understand episodic treatment costs and better inform negotiations of at-risk contracts 28
29 Physician Variation by Service Line Service Line Analysis Average Direct Cost by Provider by Product Line In total per case, and by day of stay 29
30 Population Health Costs by Care Setting Sample Population Health Analysis FY 16 Diabetes Total Cost of Care 30
31 Project Prerequisites Prerequisites for a strong Service Line reporting function Strong Patient Financials The client should have established strong process for reconciliation of cost accounting to its hospital financials Advanced Activity Costing Procedures The client should have established a robust costing approach and methodology to drive accurate costs down to the charge level Service Line Forecasting The client should have begun the process for identifying the patient cohorts relevant to the service lines Defined Metrics for Success The client can establish categorical metrics for the monitoring of success that will be used to guide the system build 31
32 Readiness Efforts Readiness to adopt a cost accounting system should focus on three key areas Data Prerequisites Executive Commitment Software Tools Source data feeds from: 32 General Ledger Payroll Billing / AR EMR Supply chain Pharmacy Top down commitment by the executives in the organization is necessary for effective implementation of cost accounting systems. Automated software tools provide the foundation for a strong decision support function. Leading software packages speed the delivery of results and improve the accuracy of the data
33 Common Pitfalls of Cost Accounting Lack of Planning leads to inconsistent results Costs don t tie to the General Ledger All clinical activity must be accounted for Involve front line department managers to ensure buy-in Volumes must be descriptive of resource utilization Automate data capture for costing Balance between accuracy and maintenance costs Education of end users is key to support data use Lack of adequate investment in resources needed to develop and maintain accurate procedure costs 33
34 Case Study (John s content) How one of the nation s How Kaleida Health saved premier academic medical $29 million in one year using centers in New York saved $58 EPSi for labor and supply million using EPSi for valuebased cost management management $58 million in Medicare losses saved in just six quarters 18% improvement in Medicare loss per case 17% improvement in resource utilization 34
35 Case Study (John s content) How a large 4 hospital, 80 clinic community health system saved $29 million in one year using EPSi for labor and supply cost management $15 million Reduced overtime and shifts equivalent to 307 FTEs in 9 months $7 million Reduced LOS from 6.65 to 5.36 days in 7 months $4 million Reduced supply costs and reduced direct cost per case by 5% 35
36 COSTING JOURNEY EXPERIENCE MAYO CLINIC 36
37 Speaker Todd Wilkening Vice Chair, Management Accounting Todd is the Vice Chair for Management Accounting at Mayo Clinic. He is responsible for the Enterprise Management Accounting function comprising 100 FTEs located across all Mayo Clinic campuses (Minnesota, Wisconsin, Florida and Arizona). Management Accounting provides strategic, financial analytical support to all departments within the Patient Care, Education and Administration areas of Mayo Clinic. Todd has 30 years experience primarily with Mayo Clinic in various financial roles: Strategic Initiatives and Acquisitions, Controller, Accounting Systems and Controls and Internal Audit. Previous to Mayo, he worked for a Big Four firm performing auditing and consulting services with an emphasis on healthcare clients. 37
38 History / Background Procedural Costing 25+ years Began in Labs with Cost / Test Expanded in 1994 to all billed products with Allscripts EPSi tool Incorporated TDABC in 2013 Another application for our costing tool set 38
39 Mayo Approach EPSi Tool Governance-EPSi Oversight Multi-disciplinary groups who govern the tool, data, reporting, etc. Enterprise Analytics (5 FTE) manages the tool Data interfaces G/L, Billing, Cost Factors Runs all processes costing, reimbursement Reconciles data Management Accounting partners with EA on development of procedural costing 39
40 40 EPSi Utilization EPSi provides a billing view of a patient s continuum of care Includes patient demographics, clinical information and financial data Application in clinical analyses, research studies, practice optimization, marketing studies and contracting Users of the data include marketing, finance, contracting, planning, researchers, practice 40
41 Practice Optimization Manage to Reimbursement (MTR) Oversight team selects departments Generally MS-DRGs with greatest potential Enterprise multi-disciplinary team led by MD and Administrator Tasks performed include: Value stream mapping (current and future) Analyze outliers Review/discuss practice variation Estimate potential cost savings 41
42 Manage to Reimbursement Type of Cost Savings have included: Reduced Length of Stay Enhanced Recovery pathways Standardized practice patterns Staffing to workload changes Elimination of unnecessary tests and procedures Reduced blood utilization 42
43 Manage to Reimbursement Example of monitoring tool used to track savings from an MTR project 43
44 Time Driven Activity Based Costing (TDABC) Mayo Clinic had the need to better manage its limited resources, identify costs for specific patient care cycles, and analyze variances in processes and cost for related patient care cycles. The TDABC approach is a measurable method of determining patient value based on the total costs of resources used to care for a patient s condition over the care cycle. TDABC is a bottoms-up approach to costing patient care based on the actual clinical and administrative processes and resources used to treat patients TDABC combines process mapping with the most modern approach for accurate and transparent patient-level costing. 44
45 Mayo Approach TDABC Leadership group providing oversight and identification of opportunities Collaboration with Harvard Business School Multi-disciplinary team led by MD and Administrator Tasks performed include: Value stream mapping (current and future) Time identification (studies) Costing by Management Accounting Opportunities assessment and review 45
46 TDABC Utilization Implement when you need detailed cost and/or timing data to make an informed decision TDABC analysis is best utilized when you are attempting to: 1. Compare two or more related processes and determine the most cost effective 2. Prioritize specific areas within a broad cycle of care for process improvement 3. Determine financial impact of potential process improvements 4. Measure cost of unused capacity 5. Ensure that clinicians are working at the top of their license 46
47 Gonda 2: Colonoscopy with Propofol 09/29/
48 Mayo Clinic TDABC Project Examples 48
49 Governance and Sustainability Driving a culture of transparency and accountability requires: Establish executive-level and service line cost/margin management teams Service line teams should be comprised of Cost Accounting and Service line/department leaders and selected physicians Develop clear targets, accountabilities, and meeting cadence to drive cost analysis and margin management Tie to patient outcomes, balancing cost and quality Quarterly review of Service Line/Department and Service Line progress readout session with Executives Align with performance evaluation and compensation Provide sufficient training on methods and outcomes 49
50 Success Factors in Costing Initiatives Avoid overly detailed, complex costing frameworks Avoid overly simplistic costing spreads not tied to key activities/drivers Assign actual costs and integrate EHR charge master and general ledger data to full extent possible Ensure buy-in and management use from executives and clinical stakeholders Take balanced approach: Patient satisfaction and quality measurements must be used in conjunction with cost metrics Leverage technology that can provide the necessary detailed costing assignments, reporting and analysis, and is easy to maintain Standardize service line and other definitions in every reporting system to avoid confusion and ensuring assumptions and drivers are more accurate and meaningful Empower leaders at multiple levels to become subject matter experts, becoming resources to others in the organization 50
51 RSM US LLP +00 (1) This document contains general information, may be based on authorities that are subject to change, and is not a substitute for professional advice or services. This document does not constitute audit, tax, consulting, business, financial, investment, legal or other professional advice, and you should consult a qualified professional advisor before taking any action based on the information herein. RSM US LLP, its affiliates and related entities are not responsible for any loss resulting from or relating to reliance on this document by any person. RSM US LLP is a limited liability partnership and the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms. The member firms of RSM International collaborate to provide services to global clients, but are separate and distinct legal entities that cannot obligate each other. Each member firm is responsible only for its own acts and omissions, and not those of any other party. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. RSM and the RSM logo are registered trademarks of RSM International Association. The power of being understood is a registered trademark of RSM US LLP RSM US LLP. All Rights Reserved.
Cost Accounting: the Key to Cost Management and Profitability in Healthcare. by Jay Spence
Cost Accounting: the Key to Cost Management and Profitability in Healthcare by Jay Spence Managing the cost of patient care is the top strategic priority of most hospital CFOs today. As advances in medicine
More informationEHR AND ERP INTEGRATION. January 25, 2018
EHR AND ERP INTEGRATION January 25, 2018 Your Instructor Agenda Introduction to EHR and ERP EHR and ERP integration opportunities Evaluating the potential impact of EHR and ERP integration to your organization
More informationImproving the Patient Experience Across the Revenue Cycle
Improving the Patient Experience Across the Revenue Cycle A closer look at patient centered approach to scheduling, pre-arrival, point-ofservice functions, and move towards a single billing office November
More informationHEALTHCARE. Advanced Costing Techniques to Improve Service Line Decision Making
HEALTHCARE Advanced Costing Techniques to Improve Service Line Decision Making Introduction The role of cost accounting in healthcare Healthcare s new value-based business model requires that providers
More informationADVANCED COSTING TECHNIQUES TO IMPROVE SERVICE LINE DECISION MAKING. A publication from:
ADVANCED COSTING TECHNIQUES TO IMPROVE SERVICE LINE DECISION MAKING A publication from: ADVANCED COSTING TECHNIQUES TO IMPROVE SERVICE LINE DECISION MAKING/ 2 INTRODUCTION The role of cost accounting in
More informationSpend visibility and shared services Strategies to address growing pains for long-term care organizations
Spend visibility and shared services Strategies to address growing pains for long-term care organizations Prepared by: Gerry Hodson, Director, Financial Advisory Practice, McGladrey LLP 816.751.4031, gerry.hodson@mcgladrey.com
More informationSuccessful healthcare analytics begin with the right data blueprint
IBM Software Information Management Healthcare Successful healthcare analytics begin with the right data blueprint 2 Successful healthcare analytics begin with the right data blueprint Executive summary
More informationMaximizing the Value of Cost Accounting to Support Strategic Decision-Making Jay Spence
Maximizing the Value of Cost Accounting to Support Strategic Decision-Making Jay Spence Vice President, Industry Solutions Kaufman Hall Our Speaker Jay Spence Vice President, Kaufman Hall & Associates
More informationDriving Improvement to your Bottom Line:
White Paper Title Driving Improvement to your Bottom Line: Untapped Opportunities to Begin Tackling Now Given the current and anticipated reimbursement and cost pressures facing healthcare providers today,
More informationBEATING THE FINANCIAL SQUEEZE: How to Drive Performance Transformation in Your Health System
BEATING THE FINANCIAL SQUEEZE: How to Drive Performance Transformation in Your Health System Authors: Rob Gamble and Pamela Damsky For decades, health systems have recognized the strategic imperative of
More informationENGAGE YOUR CUSTOMERS WITH SALES AND SERVICE FUNCTIONALITY
ENGAGE YOUR CUSTOMERS WITH SALES AND SERVICE FUNCTIONALITY Microsoft Dynamics 365 educational webcast series presented by RSM May 31, 2017 Today s presenters Mike Nafziger Principal and National Customer
More informationHFMA WEBINAR. Sponsored By: The 4 Biggest Cost-Accounting Mistakes You Don t Even Know You re Making
HFMA WEBINAR Sponsored By: The 4 Biggest Cost-Accounting Mistakes You Don t Even Know You re Making Date: Tuesday, March 17, 2015 Time: 2:00 3:00 p.m. Central (12:00 1:00 pm Pacific/1:00 2:00 pm Mountain/3:00
More informationThe importance of a solid data foundation
The importance of a solid data foundation Prepared by: Michael Faloney, Director, RSM US LLP michael.faloney@rsmus.com, +1 804 281 6805 February 2015 This is the first of a three-part series focused on
More informationHCCA Audit & Compliance Committee Conference. February 29-March 1, Drivers of ERM. Enterprise Risk Management in Healthcare.
Enterprise Risk Management in Healthcare Deloitte & Touche LLP Heather Hagan, Senior Manager Nancy Perilstein, Senior Manager February 29, 2016 Discussion Items Drivers of Enterprise Risk Management (ERM)
More informationKPMG s financial management practice
KPMG s financial management practice kpmg.com KPMG LLP s (KPMG) Financial Management (FM) practice supports the growing agenda and increased responsibilities of the CFO. We work with our clients with passion
More informationMODERNIZING THE FINANCE FUNCTION
MODERNIZING THE FINANCE FUNCTION Transforming the finance function into a strategic business partner November 15, 2016 Presenters Mary Beth Jameson RSM US LLP Director, Technology and Management Consulting
More informationNETSUITE USER GROUP WEBCAST
NETSUITE USER GROUP WEBCAST Budgeting, Forecasting & Reporting March 14th, 2018 Today s speaker Matt Bailey Director, Technology & Management Consulting Over 18 years of experience in ERP/CRM implementations
More informationCharge Capture: What You Don t Know IS Killing You!
Charge Capture: What You Don t Know IS Killing You! Kauser Karwa MBA, RHIA, CDIP Manager McGladrey Bob Medcalf CEO Net Revenue Associates May 14, 2015 Objectives 1. Gain a broad level understanding on
More informationGross-to-Net Estimates and Accruals - Master Class
Gross-to-Net Estimates and Accruals - Master Class Mike Makovec, Audit Senior Manager, Deloitte & Touche LLP Walt Worsham, Senior Manager, Deloitte & Touche LLP Brad Schulte, Senior Manager, Deloitte &
More informationThe Path to Clinical Enterprise Maturity DEVELOPING A CLINICALLY INTEGRATED NETWORK
The Path to Clinical Enterprise Maturity DEVELOPING A CLINICALLY INTEGRATED NETWORK dhgllp.com/healthcare Kevin Locke PRINCIPAL Kevin.Locke@dhgllp.com 330.606.4699 Michael Strilesky SENIOR MANAGER Michael.Strilesky@dhgllp.com
More informationSERVICES AND CAPABILITIES. Technology and Management Consulting
SERVICES AND CAPABILITIES Technology and Management Consulting RSM overview Fifth largest audit, tax and consulting firm in the U.S. Over $1.6 billion in revenue 80 cities and more than 8,000 employees
More informationPURCHASE ORDER SPEND CONTROL MICROSOFT DYNAMICS AX 2012 R3/ AND DYNAMICS 365
PURCHASE ORDER SPEND CONTROL MICROSOFT DYNAMICS AX 2012 R3/ AND DYNAMICS 365 2016 2016 RSM US RSM LLP. All US Rights LLP. Reserved. All Rights Reserved. Introduction Rachel Profitt, MCT, MVP Director,
More informationMinimizing fraud exposure with effective ERP segregation of duties controls
Minimizing fraud exposure with effective ERP segregation of duties controls Prepared by: Luke Leaon, Manager, RSM US LLP luke.leaon@rsmus.com, +1 612 629 9072 Adam Harpool, Manager, RSM US LLP adam.harpool@rsmus.com,
More informationOverview and Progress Update: Medicare Performance Initiative (MPI)
Overview and Progress Update: Medicare Performance Initiative (MPI) Britt Reynolds, President Hospital Operations Scott Richardson, Senior Vice President Operations Finance and Performance Management &
More informationTransformational Data-Driven Solutions for Healthcare
Transformational Data-Driven Solutions for Healthcare Transformational Data-Driven Solutions for Healthcare Today s healthcare providers face increasing pressure to improve operational performance while
More informationRSM ANTI-MONEY LAUNDERING SURVEY BEST PRACTICES AND BENCHMARKING FOR YOUR BSA/AML PROGRAM
RSM ANTI-MONEY LAUNDERING SURVEY BEST PRACTICES AND BENCHMARKING FOR YOUR BSA/AML PROGRAM Anti-money laundering (AML) regulations are at times challenging for banks. Emerging risks and increased scrutiny
More informationTransforming revenue cycle management. Partnerships for an industryleading
Transforming revenue cycle management Partnerships for an industryleading revenue cycle Introduction Transforming revenue cycle management Traditional approaches to managing the revenue cycle will need
More informationMICROSOFT DYNAMICS 365 FOR TALENT. Rachel Profitt, MVP, MCT Director, RSM Technology Academy November 30, 2017
MICROSOFT DYNAMICS 365 FOR TALENT Rachel Profitt, MVP, MCT Director, RSM Technology Academy November 30, 2017 2016 2016 RSM US RSM LLP. US All Rights LLP. Reserved. All Rights Reserved. Introductions Rachel
More informationEmpowering ACO Success with Integrated Analytics
APPLICATIONS A WHITE PAPER SERIES IN THE BACKDROP OF THE SEMINAL PATIENT PROTECTION AND AFFORDABLE CARE ACT, NEW MODELS OF CARE DELIVERY, SUCH AS THE ACCOUNTABLE CARE ORGANIZATIONS (ACOS) HAVE EMERGED
More informationLeveraging Collaboration to Assess ICD-10 Readiness and Reduce ICD-10 Operational and Financial Risks
Leveraging Collaboration to Assess ICD-10 Readiness and Reduce ICD-10 Operational and Financial Risks MHDC Lunch & Learn December 13, 2012 Melinda Reno, Principal, Deloitte Consulting LLP mereno@deloitte.com
More informationOptum Performance Analytics
Optum Performance Analytics A unified health care data and analytics platform Photo to come Optum Performance Analytics Position your organization for success with Optum Performance Analytics Dynamic health
More informationImplementing Category Management for Common Goods and Services
Implementing Category Management for Common Goods and Services Darbi Dillon Office of Federal Procurement Policy 1800 G Street NW, Washington DC 20006 Audit Tax Advisory Grant Thornton LLP 333 John Carlyle
More informationSession 9 Building an Enterprise Analytics Organization. Joseph M. Dudas Division Chair, Enterprise Analytics Mayo Clinic
Session 9 Building an Enterprise Analytics Organization Joseph M. Dudas Division Chair, Enterprise Analytics Mayo Clinic Learning Objectives Understand the phases of building an enterprise-wide analytics
More informationGE Healthcare. Financial Management Solutions
GE Healthcare Financial Management Solutions A transformational moment in healthcare The transition from volume-driven to value-driven healthcare is transforming how patient care is delivered and paid
More informationRCM Speaker s bureau
2018 RCM Speaker s bureau Speaking topics for educational presentations Throughout the year, Cerner clients and associates present at many national and local events. We offer presentations on a wide variety
More informationUsing Business Analytics to Improve Hospital Performance. Sandi Piatz, MBA Sr. Manager
Using Business Analytics to Improve Hospital Performance Sandi Piatz, MBA Sr. Manager 701.476.8876 spiatz@eidebailly.com Technology Evolution Third Platform Cloud computing, mobile, big data, social Client
More informationHow to Put Your Meaningful Use Program Into AutoPilot. AMGA April 3, 2014
How to Put Your Meaningful Use Program Into AutoPilot AMGA April 3, 2014 Presenters Teresa Hall Director of Outcomes Improvement and Reporting Intermountain Medical Group Beth Houck Vice President, Client
More informationCost Reduction is Top Priority for Leading Health Systems
THE ACADEMY H2C STRATEGIC SURVEY Q2 2017 Cost Reduction Melissa Stahl Research Manager The Health Management Academy Key Findings Most (90%) responding executives rank cost reduction as a high or very
More informationFull Risk Capability. Pathway to Future Success
Full Risk Capability Pathway to Future Success 1 DHG Healthcare s Transformational Perspective 2 Polling Question #1 Healthcare reform is moving the industry from receiving payment for volume to receiving
More informationThree Critical Gaps Hospital CFOs Must Address Today
Three Critical Gaps Hospital CFOs Must Address Today PRESENTERS Name PRESENTER: Title Tim Welling Name Vice President BI Title 12/1/15 08.10.2015 Webinar Agenda Introductions and Housekeeping Webinar Objectives
More informationEnabling Sustainability Under Value-Based Care. October 28, 2016
Enabling Sustainability Under Value-Based Care October 28, 2016 2 Agenda 1 Transition from Volume to Value 2 Foundations of Population Health Management 3 Clinical Integration as a Vehicle 4 Population
More informationGE Healthcare. Centricity Advance for Regional Extension Centers
GE Healthcare Centricity Advance for Regional Extension Centers GE Healthcare supports the mission of Healthcare IT Regional Extension Centers as they guide providers through the transformative process
More informationThe need for optimization: Getting the most from Microsoft Dynamics GP
The need for optimization: Getting the most from Microsoft Dynamics GP Prepared by: Hans Wulczyn, Director, RSM US LLP hans.wulczyn@rsmus.com, +1 717 901 8413 July 2017 Microsoft Dynamics GP is a powerful,
More informationMDM offers healthcare organizations an agile, affordable solution To deliver high quality patient care and better outcomes
MDM offers healthcare organizations an agile, affordable solution To deliver high quality patient care and better outcomes Many healthcare organizations are struggling with rising costs and inconsistent
More informationThe importance of the right reporting, analytics and information delivery
The importance of the right reporting, and information delivery Prepared by: Michael Faloney, Director, RSM US LLP michael.faloney@rsmus.com, +1 804 281 6805 Introduction This is the second of a three-part
More informationDeveloping a Successful RFP for an ITFM Solution ITFMA 2017 Austin
Developing a Successful RFP for an ITFM Solution ITFMA 2017 Austin A lie can travel half way around the world while the truth is putting on its shoes. Mark Twain 2 Acquisition Process Single Supplier -
More informationHEALTHCARE CONSULTING GROUP
MAZARS USA LLP HEALTHCARE CONSULTING GROUP As one of the nation s leading professional service firms, Mazars USA provides the resources, experience and global expertise to help you adapt in a dynamically
More informationRSM FOOD AND BEVERAGE INDUSTRY SURVEY
RSM FOOD AND BEVERAGE INDUSTRY SURVEY Top priorities among growers, manufacturers, processors, distributors and retailers ABOUT THE SURVEY Food and Beverage Industry Survey RSM US LLP is the leading U.S.
More informationThe Art of Putting It Together STANDARDIZE PROCESSES BEFORE CONSOLIDATING REVENUE CYCLE OPERATIONS
STANDARDIZE PROCESSES BEFORE CONSOLIDATING REVENUE CYCLE OPERATIONS STANDARDIZE PROCESSES BEFORE CONSOLIDATING REVENUE CYCLE OPERATIONS By Robert Parris, managing director, and Melanie Schoenvogel, senior
More informationBenchmarking, IT Cost Controls and Efficiencies
Benchmarking, IT Cost Controls and Efficiencies Session 191 February 22, 2017 1 Chris Pass, Chief Financial Officer John Muir Health Greg McGovern, Associate Principal The Chartis Group Speaker Introductions
More informationStrategies for Forecasting and Grossto-Net (GTN) Estimates in a Fluid and Fast-Paced Environment
Strategies for Forecasting and Grossto-Net (GTN) Estimates in a Fluid and Fast-Paced Environment Gaining efficiencies through E2E Process Optimization March 21, 2016 1 Copyright 2016 Deloitte Development
More informationHow Standardized Data Improved Finance-Revenue Cycle Communication at Ascension Health (E06) Bridging the Gap
How Standardized Data Improved Finance-Revenue Cycle Communication at Ascension Health (E06) Bridging the Gap Kari Clark, CPA Ascension Health Derek A. Bang, CPA, CGMA Crowe Horwath LLP Ascension Health
More informationOptum Performance Analytics
Optum Performance Analytics A unified health care data and analytics platform Photo to come Dynamic health care market forces, fueled by delivery and payment reform, have posed many new and difficult questions
More informationManaging Denials: Covering all the Bases
www.pwc.com Managing Denials: Covering all the Bases HFMA 2017 Texas State Conference March 26 th, 2017 Presenting Today Jon Souder Director, Revenue Performance Management Jon is a Director in s Health
More informationHow to Put Your Meaningful Use Program Into AutoPilot. AMGA April 3, 2014
How to Put Your Meaningful Use Program Into AutoPilot AMGA April 3, 2014 Presenters Teresa Hall Director of Outcomes Improvement and Reporting Intermountain Medical Group Beth Houck Vice President, Client
More informationSolving the IT Investment Paradox
WHITE PAPER Solving the IT Investment Paradox Authors: Parrish Aharam and Greg McGovern Solving the IT Investment Paradox There is a constant debate between health system leadership about how much to invest
More informationFinancial Institution Profitability Measurement and Reporting. by Tom McCarthy
Financial Institution Profitability Measurement and Reporting by Tom McCarthy Introduction Profitability is the heart of any financial institution s long and short-term strategy, and in today s global
More informationBack to School for Business Services how to get it right?
Back to School for Business Services how to get it right? CORE conference November 8, 2016 1 Shared Services and Outsourcing Advisory WHO WE ARE KPMG s Shared Services and Outsourcing Advisory practice
More informationUC Health: Better Together Information Technology & Leveraging Scale for Value (LSfV) A Presentation to HIMSS So Cal December 1, 2015
UC Health: Better Together Information Technology & Leveraging Scale for Value (LSfV) A Presentation to HIMSS So Cal December 1, 2015 UC Health By The Numbers 6 Medical schools $1.8B NIH funding 4 th Largest
More informationKey TSA provisions your M&A team needs to know now
Key TSA provisions your M&A team needs to know now March 2018 kpmg.com 1 1 Companies are increasingly focusing on a rigorous Transition Service Agreement (TSA) as a key component in creating deal value.
More informationMACRA Session 3: Alternative Payment Model Planning Key Elements. June 13, 2016/ 12:00-1:00 PM EST
MACRA Session 3: Alternative Payment Model Planning Key Elements June 13, 2016/ 12:00-1:00 PM EST How to Participate Today 2 Today s Presenters Craig Tolbert Principal, DHG Healthcare Works in the DHG
More informationInternal audit strategic planning Making internal audit s vision a reality during a period of rapid transformation
2015 State of the Internal Audit Profession Study Internal audit strategic planning Making internal audit s vision a reality during a period of rapid transformation 68% of companies have gone through or
More informationTesting: The Critical Success Factor in the Transition to ICD-10
Testing: The Critical Success Factor in the Transition to ICD-10 The United States (US) adopted the International Classification of Diseases, 9th Edition, Clinical Modification (ICD-9-CM) in 1979. During
More informationCommon Sense Strategies for Uncommon Times. Presented by: Tim Tindle, Executive Vice President & Chief Information Officer
Common Sense Strategies for Uncommon Times Presented by: Tim Tindle, Executive Vice President & Chief Information Officer What Will We Cover Today? Overview of Harris Health Our Transformational Journey
More informationComprehensive Revenue Integrity Support Program
Comprehensive Revenue Integrity Support Program The need to improve the bottom line while reducing organizational costs has never been greater for healthcare organizations. New reimbursement models, the
More informationGallagher Healthcare Practice
Gallagher Healthcare Practice Keeping Your Organization in Good Health As the healthcare industry transitions from volume to value, you need a partner with access to a wide set of solutions that can be
More information5 Critical Evaluation Factors for a Contract Management & Modeling Solution
Payment Integrity Compass 5 Critical Evaluation Factors for a Contract Management & Modeling A Resource Guide to Guarantee the Profitability of Your Payer Contracts For more information or to request a
More informationHEALTHCARE CONSULTING GROUP
MAZARS USA LLP HEALTHCARE CONSULTING GROUP As one of the nation s leading professional service firms, Mazars USA provides the resources, experience and global expertise to help you adapt in a dynamically
More informationGet exactly what you want from your next contract
Get exactly what you want from your next contract Set yourself up for successful payer negotiations Executive summary Time to raise the bar on internal and payer communication It s no secret that the health
More informationOregon Health & Science University: Revising Revenue Cycle Processes to Prevent Avoidable Denials and Increase Revenue
Oregon Health & Science University: Revising Revenue Cycle Processes to Prevent Avoidable Denials and Increase Revenue Diana Gernhart, SVP Hospital Chief Financial Officer, OHSU Sondra Cari, Senior Director,
More informationSuccessfully Choosing and Using an ITFM Solution ITFMA 2017 New Orleans COPYRIGHT 2017 NICUS SOFTWARE, INC ALL RIGHTS RESERVED
Successfully Choosing and Using an ITFM Solution ITFMA 2017 New Orleans A lie can travel half way around the world while the truth is putting on its shoes. Mark Twain 2 Discussion Topics & Key Questions
More informationFour Rights Can t Be Wrong:
Four Rights Can t Be Wrong: Why Now is the Right Time to Implement an EHR The information in this document is subject to change without notice. This documentation contains proprietary information, which
More informationHealth Solutions. Commercial Health Solutions Overview EXPANDING INSIGHT. ENSURING VALUE. IMPROVING OUTCOMES.
Health Solutions Commercial Health Solutions Overview EXPANDING INSIGHT. ENSURING VALUE. IMPROVING OUTCOMES. Expanding Insight. Ensuring Value. Improving Outcomes. Organizations look to experienced solutions
More informationUsing Technology to Reduce Costs and Improve Quality
Using Technology to Reduce Costs and Improve Quality Kari Cornicelli, FHFMA, CPA VP, CFO Sharp Grossmont Hospital SOHL, HIMSS, and HFMA Joint Chapter Meeting 9/20/12 HFMA s Value Project Objectives Understand
More informationelevating the role of finance at Mary Lanning Healthcare
CASE STUDY REPRINT November 2013 Amanda Hoffman Jay Spence healthcare financial management association hfma.org elevating the role of finance at Mary Lanning Healthcare One central Nebraska hospital sought
More informationDriving Efficiency and Improving Bottom Line using Compelling Visual Analytics at Stamford Health
Welcome # T C 1 8 Driving Efficiency and Improving Bottom Line using Compelling Visual Analytics at Stamford Health Divya Malhotra, MD, MHA, MBA Executive Director, Analytics and Innovation Luis C. Rodríguez,
More information2018 Q1 Investor Relations Presentation
2018 Q1 Investor Relations Presentation Forward Looking Statements This presentation contains forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events
More informationThe compliance implications of valuebased. October 2017
The compliance implications of valuebased healthcare October 2017 The compliance implications of value-based healthcare: questions you should be asking. While advances in research and technology have led
More informationWorkplace Safety and Insurance Board (WSIB) Value for money audit Return To Work (RTW) Services and Nurse Consultant (NC) Program Draft for
Workplace Safety and Insurance Board (WSIB) Value for money audit Return To Work (RTW) Services and Nurse Consultant (NC) Program Draft for discussion purposes only Summary Report November 21, 2017 Scope
More informationOPTIMIZE YOUR BUSINESS WITH NETSUITE CRM. August 29, 2017
OPTIMIZE YOUR BUSINESS WITH NETSUITE CRM August 29, 2017 With you today Eric Myers Director Eric has 15+ years industry experience and currently works with many RSM/NetSuite clients in Distribution, Manufacturing,
More informationYour guide to ICD-10 success
Your guide to ICD-10 success This sample contains pages from 3M s ICD-10 eguide. Click here to download the full version. How to use this guide This ICD-10 eguide provides a basic overview of steps hospitals
More informationCASE STUDY 17. Mercy ACO
CASE STUDY 17 Mercy ACO Overview As healthcare space expands and moves to value-based care, new challenges related to data, quality, cost and outpatient care keep coming up. ACOs today span across multiple
More informationEnterprise Performance Management in the Pharmaceutical Industry. kpmg.co.uk
Enterprise Performance Management in the Pharmaceutical Industry kpmg.co.uk Are your performance management processes, metrics and tools prepared for tomorrow s strategic challenges in pharmaceuticals?
More informationOptum. One. Award-winning intelligent health analytics platform
One Award-winning intelligent health analytics platform The One intelligent health platform enables health care providers to manage patient populations in a valuebased world. The platform combines the
More informationBEST PRACTICE GUIDE Getting Started with Kronos Workforce Analytics for Healthcare
BEST PRACTICE GUIDE Getting Started with Kronos Workforce Analytics for Healthcare Eight Proven Tips to Drive Implementation Success A SUCCESSFUL BUSINESS INTELLIGENCE PROJECT STARTS WITH PROPER PLANNING
More informationLeveraging Integration Engines for Strategic Data Sharing under Value-Based Care. Produced in partnership with. Featuring industry research by
Leveraging Integration Engines for Strategic Data Sharing under Value-Based Care Produced in partnership with Featuring industry research by The need to share information is becoming a top capability for
More informationThe importance of the right reporting, analytics and information delivery
The importance of the right reporting, and Introduction This is the second of a three-part series focused on designing a business intelligence (BI) solution. In order to design a complete solution, there
More informationHow Information Transformation Drives Healthcare Performance
perspective How Information Transformation Drives Healthcare Performance Abstract Healthcare delivery in the US is experiencing tectonic change and has rapidly moved towards a Consumer-centric, market-driven
More informationThe Accenture 2011 High Performance Finance Study. Redefining High Performance in the Insurance Finance Function
The Accenture 2011 High Performance Finance Study Redefining High Performance in the Insurance Finance Function Contents Introduction Introduction 03 Delivering greater value to the enterprise 09 Dealing
More informationThe Promise of Data-Driven Healthcare
The Promise of Data-Driven Healthcare MegaTrends for 2018 and Beyond February 27, 2018 Presenters 1 Valerie Barton, Managing Director Valerie oversees Manatt s data and analytics capability. She works
More informationStreamline and Simplify Rebate, Royalty, and Incentive Compensation Programs
SAP Brief SAP Extensions SAP Incentive Administration by Vistex Streamline and Simplify Rebate, Royalty, and Incentive Compensation Programs SAP Brief Increase profits with more-effective go-to-market
More informationActionable Data Analytics in Oncology. Ronald Barkley, M.S., J.D. Rhonda Greenapple, MSPH John Whang, MD, FACC
Actionable Data Analytics in Oncology Ronald Barkley, M.S., J.D. Rhonda Greenapple, MSPH John Whang, MD, FACC 1 2013 Summit Research Survey Sponsors A Thank You to the following organizations for their
More informationAccelerating your automation journey through outsourcing
0 Automation benefits with BPO contracts Accelerating your automation journey through outsourcing How to get more from your Business Process Outsourcing contracts June 2018 kpmg.com/uk KPMG International
More informationLEVERAGING ERM BEYOND COMPLIANCE. July 25, 2017
LEVERAGING ERM BEYOND COMPLIANCE July 25, 2017 Presenters Steve Menaker Shawn Dahl Adam Marshall Assurance Partner, National Manufacturing Industry Lead Principal, Risk Advisory Services Director, Risk
More informationPhase I 1st Stage Requirements
HIE Update Opportunity This project has the opportunity to leverage Health Information Exchange technology at a national level in order to effect measurable improvements in the care and treatment of patients
More informationDelivered by Sandra Fuller, MA, RHIA, FAHIMA. April 29, 2009
A Statement by the American Health Information Management Association on Determining the Definition of Meaningful Use to the National Committee on Vital and Health Statistics, April 2009 Delivered by Sandra
More informationTen Overlooked Opportunities For Significant Performance Improvement and Cost Savings
Ten Overlooked Opportunities For Significant Performance Improvement and Cost Savings Ten Overlooked Opportunities For Significant Performance Improvement and Cost Savings Huron Healthcare s Performance
More informationBringing patients into focus
Health Care Of special interest to Health care executives Insights for 5executives Bringing patients into focus Using analytics to create a 360-degree view The patient is again becoming the focus of the
More informationBest Practices in EHR Implementations
WHITE PAPERS FOR REAL PEOPLE Best Practices in EHR Implementations by TIM LIDDELL VICE PRESIDENT, PROVIDER DEPLOYMENT BETSY CROSS DIRECTOR, PROVIDER DEPLOYMENT CONTENTS The SaaS Delivery Model... 1 January
More information