Healthcare financial management : journal of the Healthcare Financial Management Association
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Critical care services are major contributors to rising healthcare costs, with intensive care units (ICUs) consuming nearly 20 percent of the country's healthcare expenditures. This article examines ways of controlling and avoiding unnecessary ICU costs. A case study shows how a thorough examination of admission, discharge, and transfer practices and provision of the appropriate number and mix of ICU and step-down beds can significantly reduce the use of critical care resources.
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A model for the investment of pension funds has been created that combines passive and active portfolio management strategies. The model uses a passive index fund to reduce the amount spent in transaction costs. It applies a percentage band that identifies the portion of the portfolio that should be committed to equity investments at various stages of the market movement cycle. Finally, it uses price movement trigger points to dictate when pension funds should be moved into and withdrawn from stock market investments.
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In a risk-bearing managed care enterprise, acute-care facilities will change from being profit centers to being cost centers, and this transformation will require a focus on controlling costs rather than increasing admissions. This article details the elements of change that healthcare financial managers should consider, from the increased difficulty of matching revenue to expense, to the expanded role of clinical engineers.
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One way for a hospital to increase revenue, improve the delivery of health care, and boost patient satisfaction is to develop new services as an adjunct to its emergency department. New service lines that treat emergency department patients quickly and efficiently and eliminate negative experiences patients often associate with emergency department visits can offer significant benefits to a hospital as well as its patients.