Diagnosis Financial Strain: One Organization's Approach to the Patient Financial Experience (7/17/2020)

This session will present an effective process for assessing physician financial performance from an operational and strategic standpoint. The speakers will share a defined process to manage physician financial performance, including how to use cost accounting concepts to establish and manage appropriate operating budget results as well as how to use ROI concepts to assess and monitor strategic benefits in comparison to subsidy loss levels.

Original Live Date: HFMA Digital Annual Conference (7/17/2020)

Tag(s) (CL) - Student, (CL) - Executive, (CL) - Mid-Senior, (CL) - Early Careerist, (CL) - Experienced Professional, Patient Experience, (DM) - Self Study, (ST) - Billing and Collections, (ST) - Financial Counseling, (ST) - Operations Management, (ST) - Patient Financial Communications, (ST) - Payment Reimbursement and Managed Care, (PL) - Intermediate, (RF) - Billing, (RF) - Business Development, (RF) - Business Operations, (RF) - Client Services, (RF) - Patient Access, (RF) - Patient Engagement, (RF) - Patient Experience, (RF) - Patient Financial Services, (RF) - Revenue Cycle, (AD) - Health Plans, (AD) - Business Partners, (AD) - Hospitals and Other Providers, (AD) - Physicians and Other Practitioners

Description

Develop cost accounting, budgeting and return on investment methodologies to assess effectiveness of physician financial results
Review historic underlying industry reasons for prevalence of subsidy losses on physician operations
Explore effective approaches to keep Board and Senior Management informed of implemented physician strategies and involved in strategic changes when needed