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What Financial & Operational Topics Were Top-of-Mind at HFMA’s ANI?

By Phil Gaughan/Tuesday, July 23, 2013

For many of us, the Healthcare Financial Management Association's (HFMA) Annual National Institute is the best meeting of the year. In addition to hearing excellent general session and breakout speakers, it’s an opportunity to visit with long-standing friends and to engage with new colleagues. It’s always impressive to hear their thoughtful opinions on current and future challenges, and this year was no different. Here’s what I heard this year in Orlando, Florida:

  • Hospitals and health systems continue to identify creative processes to address cost and productivity. But they still question whether their efforts will be sufficient, if anticipated reductions in reimbursement occur.
  • Reimbursement is key. With dismal returns on investment income and sharp declines in contributions, the emphasis on revenue cycle has never been more acute.
  • Many organizations estimate that if Medicare and Medicaid payments are reduced, additional cost reductions could be in the range of 15% - 25% of current operating expense. 
Becker's Hospital Review also spoke with 10 experts about the biggest issues impacting hospital CFOs today, and my thoughts are included there too.

Phil Gaughan
Senior Director of Operational Improvement

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