October means fall leaves, Halloween goblins…and a new “spook” if your local hospital is one that will receive less money from the government. This new Halloween treat will last for a full year however, not just one night. The new healthcare law requires CMS to monitor quality and safety in hospitals and to rank order their results. The legal mandate is to deny payment to hospitals that fall in the bottom quarter of this list. They are designated worst performing and will lose money as a result. A New Beginning or a Cliff? The law has mandated pay for performance based on three categories: … [Read more...]
What Can The Magnificent 7 Teach Us About Hospitals?
If you have never seen the 1960s blockbuster old western, The Magnificent Seven, you may want to have a look. The movie is popular in Russia even today. Yes, the lead star, Yul Brynner was Russian, but the story itself carries several messages about values and priorities. These messages may resonate with clinicians and administrators. Like the Seven in the movie who chose to take on a battle for the struggling farmers of a Mexican village, hospital leaders today are developing survival tactics to deal with a very aggressive healthcare marketplace. The top 7 strategic priorities from the … [Read more...]