CFOs identify ways hospitals can build financial strength

Article Abstract:

A panel of hospital chief financial officers convened at the 1992 annual convention of the Healthcare Financial Management Assn to discuss ways hospitals can improve their long-term financial health. Among the methods discussed were collaborating with other health services, streamlining admitting and billing procedures, reevaluating staffing levels and more closely monitoring outpatient costs. The advantages of leasing equipment over buying were also highlighted, as were the benefits of sole-source supply contracts. Finally, the panel discussed boosting fund-raising efforts and improved management of investments.

Panel Discussion

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12 cost-cutting measures: hospitals use creative ideas to gain control of expenses

Article Abstract:

Hospitals facing tight budgets have been able to save millions of dollars a year by implementing tough cost-cutting measures. Creative ideas ranged from reducing postal expenses to implementing new procedures for linen service, materials management and food service. A list of 12 hospital cost-cutting measures, including pharmaceutical, nursing, construction, maintenance, waste management and scheduling, is provided.

Methods, Cost control

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Panel predicts worsening hospital financial picture

Article Abstract:

A Healthcare Financial Management Association (HFMA) panel predicts that hospitals will experience continued declines in their financial earnings through 1995. The panel points to Medicaid and Medicare reimbursement shortfalls for the anticipated decline in financial performance. The HFMA panel predicts operating margins will decline to an average of 2% by 1995.

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