06/05/2018 

Dwindling reimbursement, regulatory uncertainty, and shifting payment models have hospital leaders navigating a rapidly growing landscape of choices. Here are our notes on what decision-makers need to know in the industry to stay ahead of the changing tides.

  Insights From Our Blog

In our most recent blog, "Directing Your Hospital Dough – Financial Best Practices on Physician Contracts" we discussed how the LEAN Sixth Sigma mantra is the bedrock of how to stay profitable; hospitals continue to have more and more pressure to cut any type of fluff from their budgets, to deliver quality care, and be able to grow services to meet the needs of the communities they serve.

Best Practices summary breakdown:

Removing steps that aren’t necessary is number one in moving to best practices. Then, you need to be sure to know: Are your agreements expired? Do you have approvals in place for this payment?

Collection of accurate time logs for physician non-patient care activities, for both employed and independent physicians, drives improving reimbursement and decreasing the finance team’s time for cost reporting. Standardizing and streamlining physician agreement duties is also a best practice.

Approvers or managers of the physicians’ time logs should have an automated solution to help with the burden of this work effort. (One of our clients was receiving 500 emails per month just around approving physician time logs.) Training and clear accountability are necessary for best practices; this is very difficult to do with current manual processes.

Read the Full Article Here

Stamford Health Case Study Spotlight

A 305 bed hospital saved $259K annually by switching to DocTime Log®

Needing to solve challenges of manual monitoring and payment of physician time, Stamford Health turned to Ludi™.

DocTime Log® was able to save Stamford Health an estimated $103,000 in staff time. Download the case study to see the benefits Ludi was able to provide.

Survey Says...

Tracking, managing, and paying on physician administrative contracts is full of trials and tribulations. We know you’re not the only one dealing with this. To prove it, we’re surveying your counterparts at hospitals across the country to find out just how challenging it is.

Take our quick 100% confidential survey to let us know how your hospital handles this big bucket of spend. Then, we’ll compile all the survey answers into a report and send a copy your way.

How Hospitals Manage Physician Contracts Today

Watch this short clip where Gail Peace, CEO of Ludi, discusses how hospitals manage physician contracts is like an iceberg.

Uncover the extent of physician contracting issues that could be hiding under the surface: