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Finance

The Real Cost of Specialty Pharmacy

March 27, 2015 by Abby Norman

Specialty drug spending

Is the investment in specialty pharmacy accreditation and services worth it? The healthcare arena is currently being dominated by decrees of “lowering cost without compromising quality” and that’s no small feat, particularly when it’s looking like forgoing these expensive drugs may have a very negative impact on patient care.[read more]

Online Bill Pay Starts to Accelerate in Healthcare

March 22, 2015 by David E Williams

A handful of startups have made the online bill pay process more consumer oriented, with the idea of improving collection rates, lowering administrative costs, and increasing patient satisfaction with the process. I’ve interviewed the CEOs of two such companies, Simplee and PatientPay.[read more]

Entrepreneurs Must Integrate Mission-Driven Strategic Investors

March 17, 2015 by Shahid Shah

Strategic investments / shutterstock

When an investment helps promote a firm’s strategy in some way, it’s often labeled a “strategic investment.” For example, when a health system embarking on an ACO strategy invests in a patient engagement startup that can further the ACO mission, it could be called a strategic investment.[read more]

3 Tips for Great Health Care Management

March 13, 2015 by Alleli Aspili

health care management / shutterstock

The act of demanding social capital expenditure will go a long way in instilling specific and long-lasting reforms in the healthcare system. How do you manage a team to ensure quality health care delivery? We have three tips to elevate health care management to greatness–along with real-life stories of organizations that did it right.[read more]

6 Ways You Might Be Unwittingly Making a HIPAA Violation

March 12, 2015 by Abby Norman

HIPAA / shutterstock

With all this talk about making patient records more accessible to care teams via the magic of the electronic record, HIPAA and HITECH— the two laws that govern patient privacy — might seem like a bit of a downer. But ensuring that you are always in compliance will save you money in the form of fines and penalties for breaches.[read more]

BIG-BIG-BIG: Company, Heart and Checkbook

March 12, 2015 by Elizabeth Zampino

The last time I was in the Turner Auditorium at UW Health Sciences, I was a Clinical Informatics student learning about telehealth as more or less a theory. That was five years ago; now sitting in the same seat the numbers are flying in with results showing how telehealth is saving big bucks for hospitals.[read more]

Consumer-Directed Tax Shelters

March 12, 2015 by Brad Wright

tax shelter / shutterstock

You may be familiar with health savings accounts (HSAs), health reimbursement arrangements (HRAs), Archer medical savings accounts (MSAs), or flexible spending accounts (FSAs). These are different types of tax-advantaged accounts a person can have that help them to pay for health care costs.[read more]

How to Engage Physicians with the New ACO Benefits

March 11, 2015 by Abby Norman

While the myriad ways in which ACOs benefit patients and healthcare organizations have been heavily touted over the last several years, many doctors find themselves asking “Yeah – well, what’s in it for me?” For a lot of physicians, ACOs may seem like more work than they’re going to be worth.[read more]

Digital Health Startups and Strategically Integrated Investors

March 10, 2015 by Shahid Shah

digital health / shutterstock

What I call the “Venture Development Lifecycle” (VDLC) is the path from an idea to product/market fit and profitability. As you go from one phase to another, and are seeking investors to join you on the journey you’ll have one key task at each phase: show how you’ve already reduced risk in the previous phases and which risks remain in future phases.[read more]

The Most Important Quality Improvement Measure: Patient Follow-Up

March 9, 2015 by Abby Norman

One of the biggest misconceptions in medicine right now, which also happens to be one of the most costly, is that the patient’s care ends when they are discharged. The truth is, often times it’s what happens (or doesn’t happen) when a patient goes home that determines their outcome.[read more]

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Five Ways to Lead an ACO to Failure

February 23, 2015 by Andrew Mellin

accountable care / shutterstock

Creating an ACO in a health system or network requires new organizational structures, new IT capabilities and, most importantly, new leadership skills. Learn five mistakes that experienced, successful leaders avoid when developing an ACO.[read more]

Pediatric HCAHPS Model, First of Its Kind

February 19, 2015 by Abby Norman

pediatrics / shutterstock

2009 survey data culled from the initial research into the development of a pediatric HCAHPS assessment showed that 6.4 million children were hospitalized that year, accounting for 17% of total hospital stays. In fiscal terms, that’s $33 billion in healthcare spending; 9% of total care costs.[read more]