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I would like more information on interpreting financial statements. I have only been provided with one for our department in the last few years, and that was during these COVID times.
I get an individual productivity report that also has collections, payments, etc. It appears to be cash accounting because you cannot compare month to month. The cash comes after the service is rendered, so you have to look at an average of ~6 months to see how you are doing.
Our multispecialty medical group is always told we are down millions each year for our hospital system. How could this be and still stay viable? When i look at how they track revenue, there appear to be very arbitrary “buckets.” Much of the items the providers actually generate and make possible–all imaging and lab orders, medicaiton infusions, etc are put in another “bucket” and not attributed to the medical group that is responsible for bringing this all in. So I have a hard time figuring out… what really is the revenue for me? I can understand the revenue that comes from E&M, CPT codes, etc, but how do you figure out all the downstream revenue you are creatining for an instituation with labs, imaging, infusions, etc?
We are getting a nearly mandated trial run of telemedicine now with COVID, and I think it will speed up a much needed platform to delivering care. We need to think about where it will add value after COVID and see if it’s worth implemented. I am excited about the possibility long-term . So much time and effort is spent bringing patients into the office, when there are a lot of disease states/ problem that can more efficiently be handled via telemedicine.
It is disappointing that hospitals don’t address burnout. Sure, they given the token lecture and a pass to a mindfulness course, but most are not addressed the heart of the problem. It gets blown over .
This is interesting, because more and more I find that patients directly ask and/or demand for what they want, sometimes successfully overtaking what the physician should control. How do providers remain the stewards of healthcare in the time of patient satisfaction survey linked to physician quality reimbursement and liability ?
The leadership style of our community hospital, now owned by a larger corporating, leans toward top-down, unidirectional communication and authority. Similar to what the first provider noted, in order to save money, a more centralized approach to patient flow processes has been implemented at the expense of the community connection and feel of a smaller hospital/practice.
So, how does a community hospital maintain a small town feel when a large corporation has taken over? How can we provide the same individual care to our patients that doesn’t feel like the assembly line care the executives demand?
