Fact Based List:

9 Major Survey Findings From Hospital CFOs

Submitted by Randall Clough on Mon, 02/10/2014 - 12:15

  1. Medicare/Medicaid payment cuts- Declining inpatient volumes and rising expenses worry CFOs the most right now
  2. Merger and acquisition activity will remain high- 42% of surveyed CFOs said their organizations are actively engaged in or looking for some type of partnership
  3. CFOs are divided over which elements of the PPACA are most vital right now- About half the country is expanding their Medicaid program to those with incomes up to 138% of the federal poverty level
  4. ICD-10 is the primary revenue cycle issue for 2014- 71% of CFOs said the challenge of transitioning to ICD-10 is the most important revenue cycle issue for this year
  5. Labor costs and staffing- CFOs have said that these issues have been the most challenging operational issues to manage
  6. Measurable financial data- Operating margin and days cash on hand are two of the most important financial metrics
  7. Two primary areas of capital investments- Most hospital investments in 2014 will be put toward health IT and physician recruitment
  8. CFO's belief that they are ready to take on population health and accountable care structures- 15% say they are "very" ready, 39% say "mildly" ready, and 29% are " somewhat behind the curve"
  9. Finance executives are working harder to integrate with the clinical house- Almost one-third of CFOs said they make it a daily priority to be involved with their organizations' clinical staff

Source: Beckers Hospiatl Review
Source URL: http://www.beckershospitalreview.com/racs-/-icd-9-/-icd-10/t...

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