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An Ailing Healthcare Environment®
Most healthcare professionals understand that, when a patient is sick, sometimes it is necessary for them to take a bitter-tasting pill in order to recover. But when the patient is the hospital and the bitter pill is cost reductions, that rationale can be hard to swallow.
It’s no secret that most hospitals are financially stressed and have been for a long time. However, the onset of the Patient Protection and Affordable Care Act (PPACA) has made those financial challenges and uncertainties even more acute.
Providers are now faced with changes and reductions to Medicare and Medicaid reimbursements. In addition, the Centers for Medicare and Medicaid Services (CMS) are departing from their fee-for-service payment system. They are transitioning to a reimbursement methodology that incentivizes Providers who institute value-based purchasing programs and are delivering care that is both high-quality and cost-effective. These external factors will demand that all Providers make internal changes within their organizations.
As a result, Providers across the country are preparing for a new reality by implementing strategies t...
