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01/16/2018 
Ludi Newsletter

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.

Handpicked Articles For You

American Medical Group Association's latest survey found more cost pressures and lagging revenues for hospitals. The operating loss per physician jumped from a 10 percent loss of net revenue to a 17.5 percent loss, according to the survey. In this climate, it's essential to understand costs to identify opportunities for better financial management. 

High-level thoughts on the industry from Bill Gates on how his Gates Foundation and other capitalists can improve the world.  "Health is getting better, and it’s getting better faster than ever before," Gates stated in his speech. Global health, he said, relies on innovation from the public sector to improve outcomes.

In an era of healthcare reform, it's crucial for hospital leaders to fully understand assets and spend. Modern Healthcare shares remarks from its Leadership Symposium's provider executive panel on purchasing and budget priorities. A key takeaway: Knowing what assets are owned and how they're utilized helps financial leaders control both operating and capital costs. 

 

 Insights From Us

In one of our most popular articles, "Returns Hospitals Expect from Physician Contract Logging Software", we discussed what an organization should expect to see for a financial return on this kind of investment.3 Returns Hospitals Should Expect from Physician Contract Logging Software.png

Here's the summary breakdown: 

Improve reimbursement, across all DRGs. Depending on the area wages, this can have various degrees of positive returns for the hospital. If you are using paper time logs, you are leaving money on the table.

Improve reimbursement, teaching programs. The hours physicians perform in teaching functions also need to be carefully managed so they can be submitted on the cost report. If managed on paper, again, money is being left on the table.

Cut expenses. There are three ways this investment will cut operating expenses. Two areas will likely pass your CFO with a nod, the third will drive a hearty discussion. First, when you use software to document, approve and pay physicians there is a halo effect.  The second reason costs decline is because of the information gleaned from data. It is now possible to with one click see your total costs by organization, service line, type of contract or even by physician. With all in one place, managing the costs is possible. Lastly, staff time is saved.

Read the Full Article Here

Better tech can result in more savings... who doesn't like to save!?

Struggling to figure out ROI of a technology investment for your hospital? An investment of less than 1% of spend can drive significant revenue. We can get you a cost and savings estimate on the potential impact of our spend management tool with just 4 inputs — try out our ROI calculator!

Calculate Your ROI

How to Approach Physician Agreements Financially

Most hospitals are inefficient in one or more areas even though very few hospitals manage physician contracts exactly the same. That’s costly!

We co-hosted a webcast with MD Ranger that focused on how hospitals can pay FMV and make/keep more money in managing physician agreements. If you missed it, check out the recording here...it's worth your 30 minutes.

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Join our Webinar...Spots are Going Fast! 

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Brian Brock
Ludi VP of Sales

How Physician Spend Management Technology Drives Revenue

Hospitals nationwide are wasting money on physician contracts.

Our technology helps you monitor, log and track contracts and payments, for better financial outcomes.

Join Brian Brock Tuesday, January 23rd at 11 CST  to learn how it works.