Cyber risk figures into the credit rating for many companies and organizations, said Moody’s Investors Service analysts in a recent cross sector global report. Assessing cyber preparedness for credit rating purposes “is challenging because the risk is complex and evolving very quickly.” Moody’s considers the risk of a widespread, material cyber event similar to how […]
Board members overseeing risk management and compliance can now view the chief healthcare regulatory agency’s 2016 Work Plan, a blueprint of projected investigations over the coming year. The Department of Health and Human Services Office of Inspector General (OIG) issued its work plan in early November and noted that it “will expand its focus […]
An emerging trend among not-for-profit hospitals positions them well for population health management but also carries significant credit risks, say Moody’s Investors Service analysts in a recent report. The trend is to enter the commercial health insurance business to both improve care management and gain market share, the analysts wrote. The effect on credit […]
As a board member, you may consider cybersecurity to be an operational issue for senior management and the IT department, but experts say, “its weighty implications for the entire organization now require directors to consider it as a critical risk management concern” that requires trustees to play an active role its oversight. 2015 has […]
Board composition discussions about diversity tend to focus on ensuring an appropriate ethnic and gender mix. But boards also should strive for diversity “in thought” to ensure a healthy way to challenge the status quo and help trustees view issues through a new lens, according to the authors of a recent article in Financier Worldwide. […]
CMS has added a star-rating system on its Hospital Compare website to help Medicare beneficiaries’ choose a hospital and gauge the quality of the care it provides. A recently released CMS fact sheet described the initiative: “CMS believes that star ratings spotlight excellence in health care quality and make it easier for consumers to […]
Clinical Integration may be a smart addition to employing physicians. But how does a hospital/system start; where does it begin? Last week we wrote about the advantages and characteristics of a clinically integrated network. Today we focus on how to build one. Again, our source is the Healthcare Financial Management Association’s report, Taking Smart […]
Last week we presented the Healthcare Financial Management Association’s (HFMA) Value Project strategies for value transformation. To make the strategies actionable, we now present the tactics identified by the Value Project. These tactics provide a roadmap that enables boards and executives to plot their organizations’ course to value transformation. To recap, organizations cross four […]
Organizations cross four major “summits” to achieve the ACA’s Triple Aim of improving the patient experience, advancing population health and lowering the total cost of care, according to the Healthcare Care Financial Management Association (HFMA). Through its Value Project, HFMA worked with a diverse group of 35 hospitals and health systems to identify and detail […]
The Centers for Medicare & Medicaid Services (CMS) recently issued final revisions to the Medicare conditions of participation (CoPs) that pertain to medical staff organization and participation in hospital governance. The key revisions include the following: Removing the requirement that a medical staff member serve on the governing body Allowing for a unified and […]