Hospital and Health System Advisory Services
Improving quality, reducing cost and maximizing outcomes are three fundamental activities organizations must take to stay relevant and ensure sustainability in today’s healthcare market. As organizations are pressured by patients, payors, and the market, they need to have the appropriate processes, tools, and structures to respond. LBMC’s Hospital & Health System Advisory Practice can help equip organizations to manage these challenges.
What Can We Do For You?
Clinical Resource Management
Improving clinical, operational and ﬁnancial eﬃcacy along the care continuum is a challenge many organizations are not equipped to tackle alone. We can help manage avoidable care days, readmission penalties, appropriate use of monitored beds, access and capacity management, enabling providers to care for patients in the right level of care, at the right time, in the right location.
Healthcare Finance & Reimbursement
We have subject-matter experts who can help executives accomplish debt covenant studies, managed care negotiation and analysis, chargemaster and rate review, cost report reviews, and evaluation of the merits of special Medicare programs (CAH, MDH, etc.), as well as other objectives.
Integration Planning & Management
Taking into consideration company culture and values, we can help with development of an impactful, measured plan to integrate the operations of disparate organizations into a “system” which is most often the diﬀerence between a successful transaction and a failed one.
With most community hospitals surviving on razor-thin margins, Executives must be hyper-responsive to changes in performance. We help develop data-based improvement plans and, with management, organize sequentially prioritized action plans that target energy where it matters most so as to optimize the speed and durability of results.
Particularly where longer-term viability is of concern, organizations need informed, impactful strategies to improve their role and relevance in the marketplace. “How realistic that we can remain stand-alone? Do we need to aﬃliate with another provider? What alternatives do we have?” These are all mission-critical questions that boards and executives need to discern.
Revenue Cycle Improvement
Literature supports the fact that distress and crisis are most often the result of disruption to the revenue cycle. We help organizations understand the etiology of the problem and develop appropriately-aggressive plans to accelerate cash.
Salaries most often represent a hospital’s largest single expense. We help leaders develop workﬂows that optimize eﬃciency, and match tasks with the appropriate skillset.