“We are in a time right now where hospitals are data rich. But compared with other industries, we are way behind. Today, we can use data to better understand a hospital’s profitability, loss areas and where they should plan future investments.”
See what technology solutions can do for your system.
Health care continues to be under the microscope of providers, policymakers, insurers and employers.Rising insurance costs, reduced Medicare/Medicaid reimbursement, unprecedented industry consolidation, and stricter regulations and legislative policies — along with increasing demands for providing the highest-quality care — have entered the life of a health care organization. Across your business spectrum, you can benefit from the extensive experience of our business advisory, tax and audit professionals relevant to health care reform challenges.
High among the challenges are health care reform’s 3 points of impact:
• On providers …
Complexity of current legislation, and uncertainty about regulations and policies yet to roll out are imposing dramatic effects on the business of patient care. Health systems, hospitals, nursing homes and others feel the pressure of reassessing strategies and metrics. Much of the legislation requires technology components, which offer daunting challenges such as converting to electronic health records, switching to ICD-10 coding, and safeguarding the transmission of confidential patient data.
• On health plan organizations …
The future has changed. Top of mind are proposed regulations on annual fees in the form of an excise tax that will carry a cost to all entities providing health insurance.
• On employers …
For many companies, employee health benefits as we know them are undergoing radical changes. A company would do well to understand the ramifications of the Affordable Care Act and be prepared for its requirements.
Monitoring and assessing trends, and assisting with strategic decision-making for long-term stability and growth — let us help you improve your organization’s financial and operational position.