As organizations see volume, labor, acuity and reimbursement changes due to COVID-19, it is mission critical to understand and model out various scenarios and support your organization’s ability to make critical decisions.
Strata has continued to work with the nation’s leading healthcare organizations to respond and recover from the COVID-19 pandemic. In this webinar Strata’s team will discuss the Top 10 challenges and solutions within Financial Planning, Decision Support and Cost Improvement.
As healthcare workers continue to bravely stand at the front lines of the COVID-19 pandemic, hospitals are being pushed to the brink of financial collapse. Across the country, healthcare providers are dealing with significantly higher costs due to COVID-19 and are facing a major reduction in the number of patients accessing their hospitals for care. While patients are beginning to reschedule elective surgeries, continued delays in critical patient care could mean another wave of challenges for hospitals.
Join Strata to learn how organizations are approaching planning for COVID-19 recovery. As the impact varies across the nation we will be sharing the various approaches that organizations are starting to take to recover from the financial impact of COVID-19.
In this time of unprecedented financial and operational upheaval, health systems will need to ‘look under every rock’ to find opportunities to improve their financial stability. As elective surgeries and outpatient visits begin to return toward normal, it is imperative that health systems manage the largest category of expenses diligently. Doing a careful review of pay practices and staffing, then instilling accountability for taking action, can be a source of several million dollars of added margin.
Join to hear how Kristi Atkinson, Manager of Budgeting & Cost Accounting, from Nebraska Medicine used StrataJazz to identify hidden sources of unnecessary cost in their staffing and pay practices.
Understanding the cost of COVID-19 patients is an essential part of managing through these uncertain times. Join Strata’s team to discuss how costing today may be different than approaches taken prior to the COVID-19 pandemic.
Join us to hear about methods you can use to more efficiently and effectively project your financial plans, define targets, and make resource allocation decisions. Watch this webinar to answer the following:
1. How are other organizations measuring the current and projected impact of COVID-19 populations on their inpatient financials?
2. What is the updated guidance on financial modeling assumptions?
3. How should I isolate COVID-19-related data for analysis and planning?
4. Since my budget (even with flexing) is no longer applicable, how do I update my targets and my plan going forward?
5. How do I get more immediate support to my forecasting questions?
Join Strata to learn how organizations are approaching planning for COVID-19 recovery. As the impact varies across the nation we will be sharing the various approaches that organizations are starting to take to recover from the financial impact of COVID-19.
Live and on-demand sessions to help you and your team
Accessing reimbursement, relief and funding programs at both the federal and state levels will require the complete and accurate accounting of costs related to COVID-19 by hospital and healthcare delivery systems. The COVID-19 Cost Capture and Recovery Model will provide a complete process for understanding the cost and revenue impact of COVID-19 in order to support the efforts of healthcare providers.
A new analysis reveals that hospitals are experiencing significant volume drops in key service line areas.
55 percent fewer Americans sought hospital care in March-April due to COVID-19 and an analysis of 2 Million patient encounters reveals U.S. hospitals are losing $60 billion per month. The National Hospital Patient and Procedure Volume Tracker was created based on a set of data to help healthcare providers analyze the impact of COVID-19 as well as plan and forecast an approach for bringing back elective procedures.
Strata has partnered with the American Medical Association (AMA) and other key players to recognize those healthcare heroes who are risking their lives to save ours. Sometimes small things are big things and saying “thank you” to our heroes is one small way we can help. We would love to work together on this – please share your stories and photos of your family, friends, neighbors, and colleagues at #MyHealthcareHero as well as anyone else who inspires you at #OurCoronaFighters on social media. Read more about this effort in Becker’s Healthcare.
Additional Resources
How U.S. Hospitals are Using COVID-19 Dashboards to Track Financial Trends
