Financial oversight of the hospital of health system often is viewed as the main function of the organization’s governing board. Health care, like any industry, has its own language, abbreviations, and procedures that can be confusing at first. For a new hospital board member who is reading financial reports and trying to understand their organization’s financial health and how it aligns with the strategies and vision set by the leadership, the many terms can make this task quite daunting. It’s helpful to start by understanding the basics – the sources of a hospital’s business, the services it offers, and how these contribute to the hospital’s Net Patient Revenue. This page will offer resources and tools to provide insight into how hospital finance reimbursement works.
THT Resources
Trustee Whitepapers
Key Compliance Factors of the 340B Program
And the Challenges They Pose for Hospitals
The 340B Drug Pricing Program offers discounts on outpatient drugs to eligible healthcare organizations, known as covered entities, to ease the financial burden on safety-net providers that serve a disproportionate number of indigent patients. In this whitepaper, we’ll outline the basic compliance requirements for 340B hospitals and discuss the challenges of using hospital information systems to meet these requirements.
The Past, Present, and Future of the 340B Program
How We Move Forward From COVID-19: A Watershed Event
Without a doubt, the COVID-19 pandemic has been our watershed moment of the decade, especially as it relates to health care. So many aspects of life will be impacted long-term because of this virus, from the way we do business to the way we receive health care. Of course, the federal 340B Drug Pricing Program is one of the elements of health care that has been affected and may undergo permanent change going forward. The good news is, for almost 30 years, the 340B program has proven to be dynamic and versatile. It has adapted to the changing health care landscape before and will do so again.
Mergers and Affiliations 101: Why Hospitals Choose this Path and Key Considerations for Success
Merger and affiliation activity in the health care industry has been increasing in recent years and continues at a rapid pace. The purpose of this article is to help these decision-makers understand (1) the various types of affiliations that hospitals may consider, (2) the reasons for such affiliations, and (3) the top considerations before pursuing a merger or affiliation.
How Hospital Finance and Reimbursement Works in Five Steps
For a new hospital board member reading hospital financial reports and working to understand the financial health of their organization and how that fits with the strategies and organizational vision set forth by the entity’s leadership, the labyrinth of terms can make this challenge particularly daunting. The purpose of this article is to help jumpstart this learning process and provide insight into how hospital finance reimbursement works.
More financial resources are also available on the THA website.