This article addresses the CMS rules on price transparency and how your organization should respond. As of January 2021, hospitals in the US are required to provide price transparency in a way that has never been seen before. Every hospital must deliver a plan for price transparency. Healthcare is one of the most regulated, if
This article was written by Jim Cagliostro. Healthcare in the United States is expensive. The US health care system spends almost twice as much as any other country without significantly better outcomes to show for it. [1] In formulating cost reduction strategies, we recommend that nurses must be included in cost savings conversations. Pressure on
This research report was compiled by Jim Cagliostro. The COVID-19 pandemic exposed the danger of health systems continuing to function on narrow or negative operating margins. It has confirmed to healthcare leaders that, when hospital finances are under severe and constant pressure, there is minimal room for error and zero room to respond effectively to
This article was written by Jim Cagliostro. “Nurses remain uniquely situated to shape healthcare due to their team approach, proximity to the bedside, and understanding of patient care within the hospital and the community.” (Institute of Medicine, 2010; Luther & Hart, 2014). Most nurses will support this statement, that nurses are uniquely situated to shape
This article was written by Sue Farkas and Jim Cagliostro. Nurses increasingly play an integral part in helping health systems to identify cost savings, improve efficiencies, and deliver better patient care. For years, hospitals have faced the reality of growing financial strain. Increasing debt, decreasing revenues and insufficient reimbursement have all contributed to the unstable
This research report was compiled by Sue Farkas and Jim Cagliostro. In 2019, it was predicted that supply chain costs would overtake labor expenses as the #1 cost in US healthcare in 2020. Already aware of this growing trend, health systems have long sought out new strategies to dramatically cut costs in this critical area.
This research report was compiled by Jim Cagliostro. The COVID-19 pandemic has devastated countries around the world. From the overwhelming loss of life to record unemployment levels, the emotional and economic impact of this virus on the nation is unprecedented. But, it does not have to be the end of the story. Initially, concerns arose
This article was written by Jim Cagliostro. According to the Health Care Cost Institute (HCCI), nearly 75% of US hospital markets are considered highly concentrated. If this is the case, how can your hospital remain competitive in the marketplace? While many factors contribute to a high concentration of hospitals, the key driver behind the increase
This article was written by Jim Cagliostro. Modern technology has transformed the way we communicate, travel, work, play, entertain, worship, eat, exercise, and even sleep. It continues to revolutionize healthcare in the US and around the world, but in participating in this change, is your hospital adding technology or adding value? The impact of technology
This article was written by Jim Cagliostro. The day before I was scheduled for a one and half hour outpatient surgery, I began to understand the impact of price information in healthcare and get a glimpse into the not-so-clear future of price transparency. Firstly, I received a call from the hospital to say that my
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