Financial Excellence in Rural Healthcare During Challenging Times


Wednesday, September 7th, 2022 | 12:00 PM - 1:00 PM CT

Financial excellence in the rural healthcare setting is not easy. And while some existing programs have provided added stability, new challenges have emerged. Created in 1997, the Critical Access Hospital program was intended to create financial stability, reduce the financial vulnerability of rural hospitals and improve access to healthcare.
 
In 2004, CMS began the Rural Community Hospital Demonstration to test the feasibility of cost-based reimbursement for some hospitals too large to be a Critical Access Hospital. In 2005, additional inpatient payments were made available for some rural hospitals with limited volumes.
 
These programs provided some of the intended relief; however, this has changed over time due to new challenges in the marketplace. Shrinking populations, technology advances, patient preferences, pricing transparency, changing payor rules, limited staffing availability and staffing costs are creating significant challenges to the bottom lines of even the strongest rural healthcare providers.
 
Some providers are employing strategies and tools to help manage these challenges and improve their financial and operational performance. This session with Eide Bailly will explore a few of tools and strategies being implemented in the industry.
 
Objectives:
 
  • Develop an understanding of what has changed in the rural healthcare market and how it impacts financial stability.
  • Learn about tools and strategies being deployed by successful rural providers to enhance revenue capture.
  • Explore how existing and new systems can be adapted to improve internal reporting and efficiency. 
  • Demonstrate how technology can help better monitor and manage productivity.
 

Presenter:

Ralph Llewellyn - Nicole Novak

Ralph Llewellyn, CPA, CHFP

Partner-in-Charge of Critical Access Hospitals at Eide Bailly