Those who adapt survive. For years Andrew’s Hospice CFO training course has contained the following exam question: “When Medicare cuts hospice rates, what three things will happen?” Hospice visionaries and pioneers are not surprised by cuts to Medicare reimbursements. Nor are they alarmed. Good hospices will adjust their models and continue to provide stellar care […]
I did not write the CFO Bible. My opinion is not significant…except for the fact that I have been a CFO, and have trained and witnessed more than a thousand CFOs at this point in my career. What should be important to you and your respective hospices is how competent you are as a CFO. […]
Are you an outlier? Though this term can carry a negative connotation in the reimbursement and regulatory worlds, here we are viewing it positively. It is an interesting topic to contemplate. Secretly, most individuals seek differentiation and want to be recognized, at least according to Maslow and his Hierarchy of Needs. Or we could cite […]
I do not intend to be overly dramatic, but I think it is good practice to explore the reasons why many hospices either go out of business or get themselves into deep financial difficulties.I do not want to create fear, but it is far better to be aware than to be non-existent! These “killers” are […]
As I look across the hospice landscape as it relates to the “Model”, I believe there are many entities that think they are “doing the Model” when in fact, the implementation is quite shallow. I do not say this in order to make anyone feel bad about their progress (we are ALL making progress!), but […]
Again, we took a few minutes and ran queries in the MVI Benchmarking Application (BA) to get stratified data that compares rural, urban and mixed hospices. Below are the results. In this article, as in all articles of this nature, we will not interpret the numbers, but will rather let the numbers speak for themselves. […]
We ran several queries in the MVI Benchmarking Application (BA) to get some stratified data that compares hospices with and without Palliative Care programs. Below are the results. In this article, as in all articles of this nature, we will not interpret the numbers, but rather will let the numbers speak for themselves. Does having a […]
There have been a number of instances of fraud in the hospice community as of late. Over the years, I have witnessed numerous situations where embezzlement schemes have surfaced. Most of the time, they are detected when a long-standing “trusted” employee is forced to take a vacation or when there is a change of duties. […]
We ran multiple queries in the MVI Benchmarking Application (BA) to get some stratified data by Hospice ADC Range size. Below are the results. In this article, as in all articles of this nature, we will not interpret the numbers, but will rather let the numbers speak for themselves. Does size matter? We have also […]
In light of the recent infamous Ides of March, we decided to highlight an area of accounting and finance that has garnered huge headlines in the last decade: the backstabbing act of fraud. Et tu, Brute? We all know what fraud is, but what distinguishes it from run-of-the-mill negligence is that it’s willful deception or […]
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