Monday, June 27, 2011

Healthcare reform boosts importance of business process improvement

Posted by Mark Brousseau

Health reform-mandated revisions, productivity adjustments, and proposed documentation and coding offsets pose a huge challenge for hospitals, says Ken Perez, senior vice president of marketing for MedeAnalytics.

MedeAnalytics is exhibiting at HFMA's ANI Conference this week in Orlando.

“Our research and economic models indicate that a 300-bed hospital will be required to reduce costs by more than $6 million in the year ahead to avoid erosion of its Medicare margins," Perez says. "The sheer magnitude of the financial impact of these multiple, complex and mounting reductions indicates that hospitals should focus even more attention on improving the efficiency and effectiveness of their core activity—the process and delivery of care.”

“Many hospitals are dealing with complex internal processes and financial pressures,” adds MedeAnalytics Associate Vice President of Product Marketing Cole Hooper. “It’s evident that hospitals will need to focus on process workflow and key performance indicators to improve cash flow and identify areas of loss."

What do you think?

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