The COVID-19 pandemic has created unprecedented change. Among other things, it has decreased hospitals’ volume and revenue to unanticipated levels. Recently, Vizient® and Sg2® partnered with HealthLeaders on a three-part webinar series focused on the financial aspects of recovery after the outbreak, including increasing elective procedure volumes, resetting staff and expanding consumer access to health care.
The recordings from the series are available below.
Ramp Up Elective Volume
The New Access Economy
Hospital s and health systems across the country began to ratchet down elective volume in early March, with often devastating impacts to the operating revenue of the system. Recovering maximum revenue is not a simple matter of opening the surgery suites up again. Financial leaders will have to develop models for income recovery, staff plans, capital investments and market data.
In this session of the webinar series, among the topics covered will be how to develop models for operating income recovery and reassessing portfolio balance and investment income.
Staffing needs for most health systems will never be the same, with an inevitable emphasis towards more resources for telehealth, intensive care and infectious disease. Finance leaders must look at data to determine how to reshape the health systems provider plan.
In this session of the webinar series, among the topics covered will be how to create flexible provider staffing models for the rebound, physician compensation and bonus structure with loss of volume, and executive and administrative overhead and compensation.
A health care sector that once measured consumer access to telehealth services in years took only weeks. Now that consumer expectation for access has flipped, what can health system finance leaders do to place thoughtful investments in new virtual access points while minimizing revenue loss in traditional service lines and brick and mortar locations?
In this session of the webinar series, among the topics covered will be how to assess new demand models, expansion of and investment in virtual services as well as overall operational and clinical considerations in a new market.
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