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Examining Challenges of Healthcare Human Resources: Q3 2017 PX Advisor

For most providers, now is a time of financial uncertainty in the healthcare industry. First and foremost, the many unknowns surrounding the Affordable Care Act (ACA) have healthcare executives holding their breath until a resolution is reached. Anticipating lower reimbursement rates under almost any scenario, healthcare executives are struggling to find new sources of revenue while simultaneously trying to avoid such things as CMS penalties, high supply costs, and unnecessary staffing expenses.

Contents of This Issue

In this issue of the PX Advisor, we take a look at a number of issues impacting the bottom line in most healthcare organizations. We speak with Joanne Aquilina, Chief Financial Officer (CFO) at Bethesda Health in South Florida, to get an informed perspective of the financial challenges facing CFOs today and in the near future. Ms. Aquilina’s point of view has been honed through more than 20 years in hospital financial management and over 10 years of public accounting.

HR in Healthcare

Elliot Clark, the chairman and CEO of SharedXpertise Media, oversees the management and publication of HRO Today and serves as a senior fellow for the Wharton Center for HR Studies. In this issue of our magazine, he discusses a recent study of hospital HAVES and HAVE NOTS and implications for hospitals focused on revenue creation vs. expense management. He also discusses the changing role of senior Human Resources Officers and their imperative to educate their organizations on the significant financial hit associated with allowing unfilled beds due to lack of staffing.

Success with Healthcare Turnover and Retention

We also share the tremendous success Memorial Hermann Health System has had recently in reducing employee turnover. HR Leader Lori Knowles shares the steps her system took to cut first-year nurse turnover in half and subsequently save tens of millions of dollars. Ms. Knowles shares the role played by everything from stay interviews to school loan reimbursement in retaining key staff.

Improving OB Outcomes

Finally, we profile several key products such as the OB Risk Reduction program sponsored by MedStar/SiTEL and HealthStream that is bringing both improved outcomes and increased training efficiency to OB staff. We hope the information in this issue will help inform decision-making in your organization. As always, we are honored to be on this healthcare journey with you and look forward to hearing more about your unique issues and challenges in the coming months.

Articles in this issue include:

  • Feature Article

    CFO Forecast: Healthcare “Climate Change” on the Horizon - An Interview with Joanne Aquilina, CFO, Bethesda Health

  • Feature Article:

    The Haves vs. Have Nots: Taking the Measure of HR

  • Feature Article:

    Houston, We No Longer Have a Problem (When It Comes to Turnover, That Is)

  • Industry Challenge

    How Do We Address Hiring and Retention Challenges for Revenue Cycle Staff?

  • Under the Microscope

    High HCAHPS Scores Related to Lower Readmission Rates

  • ReCAHPS

    Outpatient and Ambulatory Surgery CAHPS®: The Countdown to Mandatory Participation

  • Product Innovation

    MedStar-SiTEL and HealthStream Use Gaming and Micro-Simulation to Reduce OB Risk

  • Get Engaged with HealthStream
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