Title Improving Financial and Operations Performance
Subtitle A Healthcare Leader’s Guide
Author Richard J. Priore
ISBN 9780826144638
List price USD 60.00
Price outside India Available on Request
Original price
Binding Paperback
No of pages 300
Book size 153 x 229 mm
Publishing year 2021
Original publisher Springer Publishing Company
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory Bangladesh, India, Pakistan, Sri Lanka
Status New Arrival
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Description:

The increasing pressure on the bottom line of healthcare provider organizations requires leaders who understand and can adeptly apply the basic principles of effective financial and operations management. To be successful in today’s environment leaders must simultaneously improve quality and service while reducing expense. Improving Financial and Operations Performance: A Healthcare Leader’s Guide is a collection of proven effective tips, tools, and techniques accumulated from real-world challenges and lessons learned logically organized to provide a straightforward approach to planning, assessing, managing, and monitoring a business enterprise to improve profitability.

This book provides a clear, step-by-step “how to” approach for both new and experienced leaders seeking a leg up in tackling the myriad of common and complex challenges they are facing including conducting a budget variance analysis, managing labor and non-labor productivity and expense, performing a comprehensive financial condition analysis, growing profitable volume and market share, developing an effective business case for improving quality, and evaluating the financial impact of a future project. Written for clinical and administrative leaders working in the trenches, it provides practical and applicable tools with relevant, real-world, and replicable case study examples. The essential value of Improving Financial and Operations Performance: A Healthcare Leader’s Guide is improving decision-making effectiveness, enhancing operations efficiency know-how, and developing strong financial management acumen to overcome the challenges in today’s healthcare environment.

Key Features:

  • Author experience with extensive expertise as a former investor-owned hospital CEO, integrated health system vice president, managing director for the renowned turnaround experts, the Hunter Group, and graduate business school professor in management, finance, and economics.
  • Realistic case examples to apply the key lessons through detailed practical and relevant case studies using clear step-by-step instructions.
  • Calls-to-action at the end of each chapter with critical leadership imperatives to help prioritize and focus efforts on what matters most.
  • Comprehensive glossary of key terms and concepts using plain easy to understand language.
  • Appendices and Excel templates containing easy-to-use plug-and-play financial worksheets, checklists, best practice pathways, and performance assessments.


Contents:

Dedication
Preface

Part I: Introduction

Chapter 1. Introduction to Effective Healthcare Financial and Operations Management • Learning Objectives • Key Terms and Concepts • Introduction • Movement to Value-Based Care • Impact of Reimbursement Models on Utilization of Services and Payment • The Role of Healthcare Leaders in Effective Financial and Operations Management • Challenges to Effective Financial and Operations Management • Phases of Effective Financial and Operations Management • Summary • Calls to Action

Chapter 2. How Money Flows Through a Healthcare Provider Organization • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • How Money Flows Through a Healthcare Provider Organization • Conducting a Profitability Analysis • Breakeven Analysis • Regional Health System Case Example: Determining Profitability of the Retail Flu Shot Clinic for November, Fiscal Year 20X2 • Summary • Calls to Action


Part II: Planning

Chapter 3. Developing the Operating Budget • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • Types of Budgets and Key Uses • Budgeting Process • Limitations of the Operating Budget • Capital Budget • Regional Health System Case Example: Creating the Retail Flu Shot Clinic’s Operating Budget • Summary • Calls to Action

 

Part III: Assessing

Chapter 4. Conducting a Financial Condition Analysis: Interpreting Basic Financial Statements and Indicators • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • Understanding Financial Statements • Balance Sheet • Statement of Cash Flows • Income Statement • Financial Ratio Analysis • Operating Indicator Analysis • Adjusted Calculations • Regional Health System Case Example: Conducting a Financial Condition Analysis • Summary • Calls to Action

Chapter 5. Understanding Financial and Operating Variance • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • From Patient Management to Financial Management • Variance Analysis • Financial Pathway • Regional Health System Case Example: Variance Analysis for the Department of Surgical Services • Summary • Calls to Action


Part IV: Managing

Chapter 6. Managing Labor Productivity and Expense • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • Challenges to Managing Labor Productivity • Leaders’ Role in Managing Labor Productivity • Measuring and Evaluating Labor Productivity • Labor Productivity Analysis • Tactics for Improving Labor Productivity • Regional Health System Case Example: Reducing Labor Expense • Summary • Calls to Action

Chapter 7. Managing Non-Labor Productivity and Expense • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • Acquisition • Utilization • Evaluation • Regional Health System Case Example: Reducing Non-Labor Expense • Summary • Calls to Action

Chapter 8. Growing Profitable Volume and Market Share • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • Developing the Five-Step Blueprint for Growth • Regional Health System Case Example: Growth Task Force Initiatives • Summary • Calls to Action

 

Part V: Monitoring

Chapter 9. Making the Business Case for Quality • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • Key Criteria for an Effective Business Case • Applying the Business Case Approach • Challenges to Creating the Business Case • Five-Step Process for Making an Effective Business Case • Monetizing Quality Improvement Initiatives • Regional Health System Case Example: Making the Business Case for Decreasing Cross-Contaminated Blood Culture Specimens in the Emergency Department • Summary • Calls to Action

Chapter 10. Evaluating the Financial Impact of a Future Project • Learning Objectives • Tools and Techniques • Key Terms and Concepts • Introduction • Time Value of Money • Conducting a Discounted Cash Flow Analysis • Financial Modeling • Developing the Financial Pro Forma • Sensitivity Analysis • Non-Financial Considerations • Risk Analysis: Evaluation and Mitigating Uncertainty • Benchmarking Financial and Operations Performance • Regional Health System Case Example: Projected Financial Impact of the Weekend Operating Room • Summary • Calls to Action

 

Glossary
Appendices

Appendix A: Regional Health System Case Example: Background

Appendix B: Consolidated Financial Statements and Selected Measures of Financial and Operating Performance for Regional Health System, FY 20XX to FY 20X2

Appendix C: Financial Pathway for Department of Surgical Services at Regional Health System

Appendix D: Profit and Loss Statement for Department of Surgical Services at Regional Health System, September FY 20X2 and FY 20X2 Year-to-Date

Appendix E: Thirty Proven Tactics to Optimize Labor Productivity

Appendix F: Purchased Services Inventory Checklist

Appendix G: Secret Shopping Script (Orthopedic Clinic Example)

Appendix H: Provider Liaison Qualifications

Appendix I: Provider Alignment Survey

Appendix J: Basic Introduction to Electronic Spreadsheets With Video Tutorials

Index


About the Author:

Richard J. (Rich) Priore, Sc.D., MHA, FACHE, FACMPE is a leading international expert on healthcare system transformation and performance improvement. His extensive leadership experience spans more than 27 years in the investor-owned for-profit, private not-for-profit, and government healthcare sectors serving in senior executive roles including hospital CEO, regional service line vice president, chief business development officer, managing director, and turnaround expert for the Hunter Group. Rich is the Founder, President, and CEO for Excelsior HealthCare Group, an outcomes-driven healthcare management consulting firm specializing in the rapid assessment, focus on execution, and speed of measurable and sustainable results for improving operations inefficiency and the bottom line. Dr. Priore is a Distinguished Service Professor in the Opus College of Business at the University of St. Thomas in St. Paul teaching graduate healthcare finance and economics. He also serves as faculty for the American College of Healthcare Executives and the American Association for Physician Leadership. He is a frequent national speaker and educator for leading healthcare provider organizations, Fortune 500 companies, and professional associations. Rich is a proud U.S. Army veteran with tours of duty in Europe, Southeast Asia, and Washington, DC where he served in the White House under two different administrations.


Target Audience:

Clinical and administrative leaders in healthcare.

 

 
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