A financial model created by MedeAnalytics has determined a 300-bed hospital will need to reduce costs by more than $6 million in fiscal year 2012 to maintain its Medicare margins, according to the company's latest white paper.
MedeAnalytics has launched its Medicare Zero Resource Center, which includes the Medicare Zero whitepaper, to provide hospitals with detailed and timely information about reimbursement rate changes and strategies to help hospitals offset them.
"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. 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," says Ken Perez, who directs MedeAnalytics' healthcare policy team.
Related Articles on Reimbursement and Hospital Costs:
Reducing Hospital Revenue Leakage: Linking Your Hospital's Item Master and Chargemaster
South Carolina to Reduce Medicaid Payments to Some Hospitals, Physicians
Reducing Healthcare Costs Through Effective Master Planning
MedeAnalytics has launched its Medicare Zero Resource Center, which includes the Medicare Zero whitepaper, to provide hospitals with detailed and timely information about reimbursement rate changes and strategies to help hospitals offset them.
"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. 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," says Ken Perez, who directs MedeAnalytics' healthcare policy team.
Related Articles on Reimbursement and Hospital Costs:
Reducing Hospital Revenue Leakage: Linking Your Hospital's Item Master and Chargemaster
South Carolina to Reduce Medicaid Payments to Some Hospitals, Physicians
Reducing Healthcare Costs Through Effective Master Planning