Soriant Source

Consultants, Cost Savings, and Keys to Success

Today’s macro and micro trends (which include change in reimbursement, increased quality targets and change in leadership, to mention a few) are driving organizations to seek outside assistance to achieve desired outcomes.  Hospital leadership hires consultants to identify and drive change in an organization; these engagements are generally highly structured and require support from those directly involved with the engagement. Department leaders will work with either a Process or Domain Subject Matter Expert (SME).  The Process SME relies on benchmarking, whereas the Domain SME has prior management experience within that particular department. Understanding how the SME will be evaluating the

By |March 3rd, 2017|Categories: Contracts & Contract Services|Comments Off on Consultants, Cost Savings, and Keys to Success

Unlocking Value from Healthcare Real Estate, Part 2

In the second part of our look at health system real estate we’ll look at some additional trends health systems are facing.  Moody’s Investor Services maintains a stable outlook on the nonprofit and public healthcare sector based on expected cash flow growth and patient volume moderation.  Unlocking cash from real estate is an attractive vehicle to provide the requisite growth capital health systems require to be competitive. While health systems focus on the delivery of care to patients, physician integration, IT infrastructure, cost management, and M&A opportunities, very little attention has historically been given to health system’s real estate holdings,

By |February 6th, 2017|Categories: blog, Soriant Source|Comments Off on Unlocking Value from Healthcare Real Estate, Part 2

Understanding Costs is Key to Value-Based Healthcare Reimbursement

While it’s virtually impossible to predict the timeline for the transition of healthcare reimbursement from fee-for-service to value based, there is absolute certainty that the impending shift will place significant downward pressure on a provider’s financial performance. Attempts to grow lingering FFS volumes and profits cannot keep pace with the reimbursement shift to value-based reimbursements. CFOs frequently attribute this fear as a predominant worry that keeps them up at night. How can we best prepare our organizations for this transition? Costs are the Key To thrive in the new world of value-based reimbursements, a provider must consistently and diligently pursue

By |January 18th, 2017|Categories: blog, Soriant Source|Comments Off on Understanding Costs is Key to Value-Based Healthcare Reimbursement

Unlocking Value from Healthcare Real Estate, Part 1

Health systems are facing more pressure than ever on sources of hospital revenue. Hospital cash flow, though strong the last couple of years, is expected to moderate to historical lower levels of three to four percent growth.  Health systems will need to identify alternative sources of cash to make investments to transition from fee-for-service to a value based care model. This continuous need to analyze and scrutinize expenses is not going away and will become a higher priority if revenues are uncertain or grow at rates less than expenses.  Where can focus be placed for immediate results?  Health system’s real

By |January 11th, 2017|Categories: blog, Soriant Source|Comments Off on Unlocking Value from Healthcare Real Estate, Part 1

Value Based Health Care – Ready or Not

No one working in healthcare can deny the shift that’s occurring from volume-based to value-based patient care and reimbursement.  The pace varies depending on your market demographics, but the change itself is undeniable. The shift toward value-based healthcare impacts every payor category – federal and state based programs as well as commercial payers are placing increasing reimbursement value on the quality of care provided versus the volume and type of services performed.  This shift can impact providers significantly as they work to redesign models that have historically depended on fee-for-service patient volumes. How ARE other providers responding to this shift,

By |December 7th, 2016|Categories: blog, Contracts & Contract Services, Environmental Services, Room Service, Soriant Source|Comments Off on Value Based Health Care – Ready or Not

Dealing with Data in Today’s Healthcare Setting

The medical industry has always collected a huge amount of data.  This has evolved from paper laden processes into today’s massive electronic data stores.  The information is often corralled into different repositories controlled by individual doctors’ surgeries, hospitals, clinics and administrative departments. Hospitals are being driven to invest in analytics for many reasons, but two factors seem to dominate everyone’s strategic plan: (1) healthcare reform; and (2) changing reimbursements.  Today, provider organizations need for data-driven quality and cost improvement is an imperative to maintain fiscal stability and create leverage for evolving payer models. Healthcare Reform across the Industry Healthcare reform

By |November 29th, 2016|Categories: blog, Soriant Source|Comments Off on Dealing with Data in Today’s Healthcare Setting