The increasing pressure on the bottom line of healthcare provider organizations requires leaders who understand and can adeptly apply the basic principles of effective financial and operations management. To be successful in today's environment leaders must simultaneously improve quality and service while reducing expense. Improving Financial and Operations Performance: A Healthcare Leader's Guide is a collection of proven effective tips, tools, and techniques accumulated from real-world challenges and lessons learned logically organized to provide a straightforward approach to planning, assessing, managing, and monitoring a business enterprise to improve profitability.This book provides a clear, step-by-step "how to" approach for both new and experienced leaders seeking a leg up in tackling the myriad of common and complex challenges they are facing including conducting a budget variance analysis, managing labor and non-labor productivity and expense, performing a comprehensive financial condition analysis, growing profitable volume and market share, developing an effective business case for improving quality, and evaluating the financial impact of a future project. Written for clinical and administrative leaders working in the trenches, it provides practical and applicable tools with relevant, real-world, and replicable case study examples. The essential value of Improving Financial and Operations Performance: A Healthcare Leader's Guide is improving decision-making effectiveness, enhancing operations efficiency know-how, and developing strong financial management acumen to overcome the challenges in today's healthcare environment. Key Features: Author experience with extensive expertise as a former investor-owned hospital CEO, integrated health system vice president, managing director for the renowned turnaround experts, the Hunter Group, and graduate business school professor in management, finance, and economics. Realistic case examples to apply the key lessons through detailed practical and relevant case studies using clear step-by-step instructions. Calls-to-action at the end of each chapter with critical leadership imperatives to help prioritize and focus efforts on what matters most. Comprehensive glossary of key terms and concepts using plain easy to understand language. Appendices and Excel templates containing easy-to-use plug-and-play financial worksheets, checklists, best practice pathways, and performance assessments. eBook access purchase includes digital access for use on most mobile devices or computers.
Richard J. (Rich) Priore, Sc.D., MHA, FACHE, FACMPE is a leading international expert on healthcare system transformation and performance improvement. His extensive leadership experience spans more than 27 years in the investor-owned for-profit, private not-for-profit, and government healthcare sectors serving in senior executive roles including hospital CEO, regional service line vice president, chief business development officer, managing director, and turnaround expert for the Hunter Group. Rich is the Founder, President, and CEO for Excelsior HealthCare Group, an outcomes-driven healthcare management consulting firm specializing in the rapid assessment, focus on execution, and speed of measurable and sustainable results for improving operations inefficiency and the bottom line. Dr. Priore is a Distinguished Service Professor in the Opus College of Business at the University of St. Thomas in St. Paul teaching graduate healthcare finance and economics. He also serves as faculty for the American College of Healthcare Executives and the American Association for Physician Leadership. He is a frequent national speaker and educator for leading healthcare provider organizations, Fortune 500 companies, and professional associations. Rich is a proud U.S. Army veteran with tours of duty in Europe, Southeast Asia, and Washington, DC where he served in the White House under two different administrations.
Preface PART I. INTRODUCTION Chapter 1. Introduction to Effective Healthcare Financial and Operations Management Chapter 2. How Money Flows Through a Healthcare Provider Organization PART II. PLANNING Chapter 3. Developing the Operating Budget PART III. ASSESSING Chapter 4. Conducting a Financial Condition Analysis: Interpreting Basic Financial Statements and Indicators Chapter 5. Understanding Financial and Operations Variance PART IV. MANAGING Chapter 6. Managing Labor Productivity and Expense Chapter 7. Managing Non-Labor Productivity and Expense Chapter 8. Growing Profitable Volume and Market Share PART V. MONITORING Chapter 9. Making the Business Case for Quality Chapter 10. Evaluating the Financial Impact of a Future Project Glossary Appendices Index
