Improving Financial and Operational Performance at SoutheastHEALTH
Due to shifting market forces and increased competition, SoutheastHEALTH (SEH) faced significant financial losses. The organization’s partnership with Huron improved operational and financial performance across the entire system. Implementing multiple solutions concurrently, Huron was able to create overall annual organizational benefits totaling $38.8 million.
Leadership at SoutheastHEALTH (SEH) sought to substantially improve the system’s financial standing and perception within the community. A changing, more competitive market was driving significant losses for SEH. In response, the system focused on optimizing performance, increasing efficiency and reducing costs systemwide.
Huron worked with SoutheastHEALTH to significantly improve operational and financial performance across the system. Working collaboratively, Huron implemented multiple solutions simultaneously, implementing best practices, processes and tools to create sustainable performance improvement. The engagement delivered substantial cost savings throughout the system, contributing to an overall annual benefit of $38.8 million.
Supply chain: Huron’s team reviewed all clinical, laboratory, purchased and contracted services, including SoutheastHEALTH’s 340B pharmacy program and GPO negotiations.
Workforce optimization: Huron helped SoutheastHEALTH improve its vacancy review process, identify span of control opportunities and develop productivity goals. New productivity tracking tools and improved processes were implemented with targets for staffing and productivity based on industry benchmarks.
Human resources: The engagement implemented a ‘Total Rewards Strategy,’ incorporating changes to compensation, benefits and PTO and retirement. These improvements aligned the organization with local and regional competitors, as well as with nationally recognized benchmarks.
Revenue cycle: The engagement optimized the revenue cycle, standardizing workflows and processes, and increasing accountability. In collaboration with SEH, Huron implemented its revenue cycle technology, providing a single, comprehensive IT platform with enhanced business intelligence and reporting.
CDI: Huron developed a high-level work plan to guide the clinical documentation program, focusing on key tasks, resources, dependencies, assignments and timeframes. The Huron team also provided training and mentoring for CDI and health information management coders, as well as the patient care team, clinical staff and medical staff, as appropriate.
Physician solutions: Huron worked with physician leadership at the hospital and system level to drive improvement in provider efficiency and alignment, organizational effectiveness, clinical staffing, revenue cycle and the capture of outbound referrals and downstream revenue.
SoutheastHEALTH is the premier regional healthcare system in Southeast Missouri, with more than 50 care locations in 14 communities, including hospitals, primary care clinics and specialty clinics in a four-state area.
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