The path to cost transformation
Hill-Mischel, J.; Morrissey, W.W.; Neese, K.; Shoger, T.R.
Healthcare Financial Management Journal of the Healthcare Financial Management Association 70(6): 54-65
2016
ISSN/ISBN: 0735-0732 PMID: 27451567 Document Number: 687177
A healthcare organization's efforts to strategically transform its cost structure in preparation for value-based payment invariably must begin with a systemwide assessment of cost and quality. Such an assessment should focus on three categories of performance improvement activities: margin improvement, business restructuring, and clinical transformation. A work-team approach is recommended, where teams with multidisciplinary representation assume responsibility for assessing specific areas (e.g., acute care enterprise, physician enterprise, business restructuring).