Today hospitals still face many regulatory and compliance risks. However, we aren’t out of luck quite yet, because there are several ways hospitals can reduce these types risks. Here, we highlight six ways to avoid costly fines and settlements specifically related to physician compensation practices.
Are you feeling as though you’re missing out on revenue that your hospital deserves? Well, there’s a great possibility that you just might be. No need to worry though, we have laid out five situations that are telling signs you’re leaving money on the table.
Topics: contract management systems
To remain competitive and serve their core mission of patient care, hospitals must continually find ways to cut costs and increase revenue.
Opportunities to reduce costs on physician payments for administrative duties are usually overlooked because of legacy operational processes in place. Hospitals contract with physicians to serve as medical directors for strategic service lines, shift work or on-call work, research grants, and teaching programs for graduate medical residents. Most often, savings are readily available with stricter adherence to contracted duties and payment terms through software that automates these processes.