Cardiovascular Program Coordinator Course Non-CE-Module 8: Session 2

Video Transcription

Video Summary

Module 8, Session 2 of the Cardiovascular Program Coordinator Course focuses on Financial Management. The session covers the topic of Hospital Response to Change and explores Utilization versus Internal Costs. Utilization refers to the cost to the payers, while Internal Costs are the costs the hospital incurs to provide services. The session emphasizes the importance of evaluating the impact on utilization of services when considering projects and highlights the significance of reducing readmissions, decreasing length of stay, and avoiding complications in patient care to improve financial margins. The session also discusses utilization avoidance and the potential cost savings associated with reducing unnecessary services and choosing the appropriate place of care. Pro forma analysis is explained as a means of assessing the potential revenue and expenses of a project. The session concludes with a discussion on cost avoidance in chest pain management, specifically the benefits of observation care for reducing costs to payers. Overall, the session provides insights into financial management strategies for improving operational efficiency and maximizing revenue in healthcare organizations. No credits granted.

Keywords

Financial Management

Hospital Response to Change

Utilization versus Internal Costs

Utilization Avoidance

Cost Avoidance