Becker's Hospital Review

Becker's Hospital Review November 2014

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Hospital Review November 2014 • Vol. 2014 No. 11 INDEX Table of Contents p. 6 CFO Roundtable p. 23 Clinical Integration & ACOs p. 26 Financial Management p. 34 Automated Valuations p. 39 Growing OR Case Volume p. 43 Health IT p. 46 OR Clinical Outsourcing p. 50 Leadership & Management p. 54 CFO Roundtable 3 CFOs from around the U.S. explain how their role has changed in the past five years and the most important thing a CFO can do today. p. 23 Ultimate CFO Dashboard In a value-based payment world, CFOs are focusing not only on core financial numbers but also quality indicators. p. 34 Board Recruitment in a Borderless Industry Historically, hospital boards consisted of local community leaders. Then healthcare reform came along. p. 54 The Burdens of Benchmarking By Molly Gamble Comparing numbers is an effective point of reference for organizations, but benchmarking comes with its fair share of caveats and problems, and pay for performance is mak- ing data comparison even more complex. Benchmarking has been prevalent in other industries since the 1970s but is a newer concept in healthcare. Compar- ing data against one's peers to assess organizational perfor- mance seems simple enough, but benchmarking can wreak havoc if overemphasized. Further, pay-for-performance Hospital Credit Ratings: What the Shift From Inpatient to Outpatient Means for Performance Measurement By Helen Adamopoulos About five years ago, South Nassau Communities Hospital in Oceanside, N.Y., saw about 62 percent of its volume from the inpatient side and 38 percent on an outpatient basis. Now, however, that ratio has shifted to 59 percent to 41 percent, says Joe Lamantia, With the shift from fee-for-service to value-based care, physicians and hospital executives have an increased interest in using comparative data as a tool to help improve quality of care. Healthcare is a data rich industry, and healthcare executives can use the comparative information to bench- mark themselves against competitors as well as national leaders. For the third year, Becker's Hospital Review has collected 200 benchmarks related to some of the most important day-to-day areas hospital executives oversee: quality, patient satisfaction, operations, utilization and finance. Quality and process of care Source: Hospital Compare, Depart- ment of Health & Human Services, Timely and Effective Care Measures - National Averages September 2013, the latest available data for these measures. Hospital-acquired conditions The following represent the average percentage of patients who experi- enced the conditions. Collapsed lung due to medical treat- ment: 0.32 percent A wound that splits open on the ab- domen or pelvis after surgery: 0.92 percent Accidental cuts and tears from medi- cal treatment: 1.83 percent Serious blood clots after surgery: 4.14 percent Serious complications: 0.61 percent Heart attack patients Who were given fibrinolytic medica- tion within 30 minutes of arrival: 54 percent continued on page 16 continued on page 18 continued on page 8 INSIDE: 30 Hospital & Health System Executive Moves p. 60 200 Hospital Benchmarks SAVE THE DATE! Becker's Hospital Review Annual Meeting May 7-9, 2015 Swissôtel - Chicago, Illinois 153 Great Health System Executives Speaking 119 Sessions - 212 Speakers To learn more visit www.BeckersHospitalReview.com To register, visit www.regonline.com/hospitalreview6thannualmeeting

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