Fact Based List:
9 Major Survey Findings From Hospital CFOs
Submitted by Anonymous on Mon, 02/10/2014 - 12:15
- Medicare/Medicaid payment cuts- Declining inpatient volumes and rising expenses worry CFOs the most right now
- Merger and acquisition activity will remain high- 42% of surveyed CFOs said their organizations are actively engaged in or looking for some type of partnership
- CFOs are divided over which elements of the PPACA are most vital right now- About half the country is expanding their Medicaid program to those with incomes up to 138% of the federal poverty level
- ICD-10 is the primary revenue cycle issue for 2014- 71% of CFOs said the challenge of transitioning to ICD-10 is the most important revenue cycle issue for this year
- Labor costs and staffing- CFOs have said that these issues have been the most challenging operational issues to manage
- Measurable financial data- Operating margin and days cash on hand are two of the most important financial metrics
- Two primary areas of capital investments- Most hospital investments in 2014 will be put toward health IT and physician recruitment
- CFO's belief that they are ready to take on population health and accountable care structures- 15% say they are "very" ready, 39% say "mildly" ready, and 29% are " somewhat behind the curve"
- Finance executives are working harder to integrate with the clinical house- Almost one-third of CFOs said they make it a daily priority to be involved with their organizations' clinical staff
Source: Beckers Hospiatl Review
Source URL: http://www.beckershospitalreview.com/racs-/-icd-9-/-icd-10/t...
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