Session Information
ANI: The Healthcare Finance Conference 2010
Click here to go to the previous page
St. Vincent Health: Maintaining Financial Health During Turbulent Times
Track : Finance and Accounting Operations and Results
Program Code: E07
Date: Wednesday , June  23, 2010
Time: 10:00 AM to 11:15 AM  EST
Location: Venetian E
SPEAKER :   Click the plus sign to see more detailed information about each speaker.
 Ian Worden, CPA, MHA, MBA, Executive Vice President/ COO, St. Vincent Health
SUBMITTER :   Click the plus sign to see more detailed information about each speaker.
 Ian Worden, CPA, MHA, MBA, Executive Vice President/ COO, St. Vincent Health
Description
1. The presentation will define and discuss:
- Define the Pillars of Financial Health and what is financial health related to Earnings, Liquidity, Capitalization & Donations. The focus will be on the
- Ability to replenish your assets plus
- Ability to pay your obligations on a timely basis
- Ability to add new programs and services to remain relevant to the community
- Ability to take advantage of opportunities and
- Weather the period economic downturns.
The presentation will also delve into the tools necessary to recognize poor financial health.

2. Get the Basics
The presentation will integrate the impact of Health Reform to the overall financial strategic plan. It will discuss the preparation for change in Provider Payment methods, change in Benefit design, Regulation and Health care Institutions.

3. How to recognize where the organization is in terms of Financial Health and key tipping points
- Information Technology
- Bending the Cost Curve that relates to the new payment and delivery options in Medicare and under the bills proposed new public health insurance plan. In Medicare, these options could include "bundled" payments that would pay a single fee to cover all or most services for a conditionfor example, rolling hospital and post-acute care into one payment. The HHS secretary could also use the public plan to im-plement a long list of approaches including the pa-tient-centered medical home and other care man-agement payments; value-based purchasing; per-formance- or utilization-based payments; partial capitation; and direct contracting with providers.
- Competitive Market Information
- Data Driven organization on Evidence-Based
Practices
- Review of Clinical and Financial data on cost and quality

4) Core Competencies for the future
- Developing Strategies to Improve and Maintain
Financial Health through collaboration, horizon
tal growth and new program development
- Setting Financial Health Targets for Multiple
years
- Developing minimum operating margin target
- Preparing for provider payments redirected to-ward rewarding improvements in quality, dis-ease prevention, better coordination of care and modeling for Bundled Payments
- Collaboration with other providers to meet com
- munity needs
- Common platforms and better integration with
partners for clinical affiliations
- Joint ventures and other meaningful investment
Opportunities
- Growth through trusted partnerships and new
affiliations rather than building new hospitals
- Higher technology outpatient centers
- Utilize Best Use of Comparative Effectiveness
- Research (CER). The primary purpose of such a center would be to provide objective, credible information on the likely clinical outcomes of dif-ferent strategies to treat the same medical con-dition. The information produced and dissemi-nated would be intended to better inform clinical decision making and to help design sensible re-imbursement strategies. The center thus would serve only an information function. The scope would be all medical technology, broadly de-fined, including medical procedures and existing as well as new technologies.
Be an indispensable network to patients,
employers, medical staff, payers and policy
makers
Utilize collective strength of network to achieve
more favorable vendor and payer strategies.

5. Tactical and Practical Actions for organization dealing
with financial health issues
- Make the Case for financial health to the Board, Leadership, Medical Staff, Employees and Communities
- Impact of Health Reform on financial health of
organization

6. Proven Approaches for the CFO that has been
implemented at St. Vincent Health

7. Case study of how St. Vincent Health facilities of 18
hospitals successfully manage and collaborate
effectively with Revenue Cycle, Case Management,
Managed Care, Physicians, Marketing, and Employer
Groups
8. Key Takeaways Specific tools, tips, and takeaways attendees can use.

Learning Objectives:
  • Define financial health and its affects on the healthcare system
  • Explain core competencies required for future success
  • Identify and select tipping point to financial health, including those arising from the economic recession, market shifts, financial market turmoil, and healthcare reform
  • Identify tactical and practical measures of financial health


Audio Synchronized to PowerPoint
(Code: E07M/E07)
Member:$29 USD
Non-Member $39 USD - Your Price
Add to Shopping Cart
This session is a part of:
Handout Online
(Code: E07)
Regular Attendee:Free
  
This session is a part of: