Healthcare’s labor market has never been more challenging. Thoughtful investment in a total rewards strategy is an often overlooked, underutilized way to address your workforce engagement and retention issues. We are all familiar with today’s healthcare challenges. Persistent labor shortages, rising inflation and narrowing margins are crippling health systems’ best efforts to maintain a healthy […]
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Imagine this scenario: A provider prescribes a necessary medication, and the patient attempts to fill it at the pharmacy. When they get to the counter, they realize the medication is unexpectedly expensive, and they can’t afford to purchase it. Unfortunately, this is not an uncommon occurrence, as more than 30% of prescriptions are abandoned at […]
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Going into 2022, many Leading Health Systems (LHS) felt positive about their 2021 financial performance with the average operating margin in-line with pre-pandemic levels (3.7% in 2021 vs 3.8% in 2019). However, a combination of inflation, volume and labor pressures significantly tanked 2022 margins with a projected 53% of hospitals expecting negative operating margin for […]
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As health systems continue to slowly transition to Alternative Payment Models (APM), they are faced with an immense challenge – how to expand their footprint in risk-based arrangements given the highly variable levels of revenue at play. In fact, within The Academy’s Leading Health Systems (LHS), the majority of health system revenue is still tied […]
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What Chief Nursing Officers and Chief Human Resource Officers are Prioritizing in 2023: Insights for Nurse Leaders As we all know, rising costs coupled with slowing revenue are resulting in operating margin challenges for health systems. These headwinds are expected to prevail in 2023, impacting health systems’ ability to grow. The Health Management Academy recently […]
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The Academy GE Fellows Program, The Academy AWS Technology Fellows Program, and The Physician Leadership Program help organizations build leadership depth through a responsive curriculum informed by top-of-mind Leading Health System (LHS) C-suite executive priorities. The Academy GE Fellows Program: a two-year program for administrative, financial, nurse and/or physician executives who are one to three steps away from filling a corporate […]
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AI-enabled technology solutions hold the promise of transforming health care, from operations to clinical care delivery, including applications that could help alleviate workforce shortages and burnout and deliver more accurate and timely clinical diagnoses and treatments. The possibilities are endless. But a lack of strong governance is making it difficult for health systems to advance […]
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Strategy Catalyst Uncovers: What’s Keeping CSOs Up at Night? Here’s a snapshot of the conversation: 1. New Sources of Revenue – Spotlight on Data Assets “For an organization our size, how can we scale up and do that type of work? Who are our logical partners?” Facing increased costs and revenue pressure (including hits to their […]
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Global & Local Forces Defining the World in Which We Live As provider health systems look toward the next decade, much of the trajectory of healthcare will be defined by broader global forces that will shape the way we work and live. These global forces, either independently or collectively, will influence healthcare and the next decade of […]
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