This in-person workshop is part of the Kansas Financial Indicator Project for Kansas Critical Access Hospitals, sponsored by the Kansas FLEX program. We have engaged Eide Bailly to lead this project. Webinars were held in November and December 2019. During these webinars, we shared the top financial indicators recommended for monitoring and benchmarks for each indicator. Throughout the presentations, facility-specific performance levels were identified. The graphic presentation of this information highlighted the differences in performance levels amongst providers and the fact that some providers are able to outperform the benchmarks.
The workshop will be from 9:00 a.m. to 4:00 p.m. on February 18, 2020, in Salina, Kansas. During this workshop, best practice strategies in several areas that can assist facilities improve their financial indicator performance for multiple indicators will be shared. The following topics will be addressed:
- Revenue cycle best practices – This section will focus on strategies to improve performance for days in accounts receivable, operating margin, net margin, days cash on hand and current ratio.
- Chargemaster strategies
- Upfront strategies
- Revenue cycle trouble shooting
- Staffing/productivity best practices – This section will focus on strategies employed to create a culture of operational improvement improving performance for operating margin, total margin and salaries as a percentage of revenue.
- Internal sources
- External sources
- Setting the culture
- Revenue stream best practices – This section will focus on methodologies to improve the top line. While challenging, strategies to increase revenue streams are typically less painful to implement than strategies to control costs. These strategies can assist in improving performance for operating margin, total margin, Medicare percentage, current ratio and salaries as a percentage of revenue.
- Population health strategies
- Access to care
- Robust marketing programs
- Service line strategies
- Provider strategies – This section will focus on best practice strategies related to physicians, advanced practice providers and clinic practices. These strategies can assist in improving performance for operating margin, total margin, salaries as a percentage of revenue, current ratio and Medicare percentage.
- Provider complement
- Compensation models and incentive strategies
- Reimbursement models
Click HERE for the brochure.
Click HERE to register.