Risk-Reduction Strategies

August 2010
HealthLeaders Magazine;Aug2010, Vol. 13 Issue 8, p31
The article presents tips on how health care facilities in the U.S. can reduce their financial risks. According to the author, health care facilities such as hospitals should evaluate risks that are more likely to create financial losses. Revenue cycle and clinical quality and safety programs are areas that can offer opportunities for finance leaders to reduce losses. The article cites the risk-reduction strategies of St. Vincent Health in Indiana and Spectrum Health in Michigan.


Related Articles

  • Use of stress scenarios in market risk economic capital. Smillie, Alan; Epperlein, Eduardo; Pandyat, Triyog // Journal of Risk Management in Financial Institutions;Winter2013/2014, Vol. 7 Issue 1, p85 

    Stress testing is increasingly being used to complement model-based estimates of risk, while stress value at risk (VaR) has been introduced to the regulatory framework for market risk capital. Stress tests, by their nature, are somewhat ad hoc and difficult to integrate with statistical measures...

  • Revving up supply chain's financial connections. Kaczmarek, David S. // Healthcare Purchasing News;Jul2010, Vol. 34 Issue 7, p80 

    The author discusses the need for supply chain and finance departments in health facilities to work together for revenue optimization. He mentions that each facility has to consider their payers and reimbursement methods in order to maximize revenue. He suggests assuring that the charge master...

  • Set Saving Goals. Yokl Sr., Robert T. // Revenue Cycle Strategist;Jun2008, p7 

    The article offers suggestions to healthcare organizations on how to establish an effective strategy for savings. According to the author, the absence of a clear financial target results to ineffective communication with the organization's decision makers who determine where the resources should...

  • Company notes.  // Modern Healthcare;05/11/98, Vol. 28 Issue 19, p86 

    Presents news briefs on companies providing finance management services to health care facilities in the United States. Analytical group to cover for-profit healthcare companies formed by Fitch IBCA; Acquisition of Integrated Medical Systems by ProxyMed.

  • Sitting pretty. Pallarito, Karen // Modern Healthcare;01/05/98, Vol. 28 Issue 1, p30 

    Comments on issues related to the financial management of health care organizations. Details on the financial performance of health care companies; Factors influencing the financial performance of the facilities.

  • Making finance work for you--strategic issues in clinical directorates. Stuart, John; Spurgeon, Peter C. // BMJ: British Medical Journal (International Edition);1/28/95, Vol. 310 Issue 6974, p244 

    Presents a case study to illustrate the use of financial management strategies for clinical practitioners in health facilities that incorporate general principles which allow finance to be used more effectively. Strategies devised by the clinical service directorate; Financial strategy adopted...

  • What Would You Do? affiliate, merge, or stay independent? Zuckerman, Alan M. // hfm (Healthcare Financial Management);Aug2008, Vol. 62 Issue 8, p118 

    The article focuses on the problems facing the Metro Mercy Hospital (MMH) in the U.S. It relates that the health facility has been suffering from financial losses and struggling from a good leadership. It also cites that the hospital is experiencing downward trends in utilization and financial...

  • Nonparametric Estimation of Expected Shortfall. Song Xi Chen // Journal of Financial Econometrics;Winter2008, Vol. 6 Issue 1, p87 

    The expected shortfall is an increasingly popular risk measure in financial risk management and it possesses the desired sub-additivity property, which is lacking for the value at risk (VAR). We consider two nonparametric expected shortfall estimators for dependent financial losses. One is a...

  • The Determinants of Operational Risk in U.S. Financial Institutions. Chernobai, Anna; Jorion, Philippe; Yu, Fan // Journal of Financial & Quantitative Analysis;Dec2011, Vol. 46 Issue 6, p1683 

    We examine the incidence of operational losses among U.S. financial institutions using publicly reported loss data from 1980 to 2005. We show that most operational losses can be traced to a breakdown of internal control, and that firms suffering from these losses tend to be younger and more...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics