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 […]
What is the best way to do On-Call? I’ll share what some of the best do. But first, let me share this. I think no one should be excluded from On-Call duties. If the message “you don’t have to do call” is communicated, it sends a VERY unhealthy signal through the organization. I believe in […]
It’s 2012 and changes are coming NOW in how we operate our hospices. It is an ideal time to look at your benchmarking numbers. Go ahead and print out your Executive Dashboard report from the MVI BA. It should only take you less than a minute. Take a hard look at your numbers compared to […]
All hospices have a model. Hospices may think that they are not doing the MVI Model and that is okay. However, all hospices have a way of doing business which is essentially a model. These models usually evolve organically over time. The big difference is that what we are prescribing is the intentional creation of […]
You may not think a single percentage point variance is a big deal. But, each percentage point represents a lot of money. As we look at profitability in the hospice world, it often boils down to single percentage points. Usually when a hospice is doing well financially, the operational profit does not come from one […]
The reality is that patients and families do not care how much you spend. They want results: Zero pain if possible, affordable services, prompt response to needs, ability to determine level of service, and so forth. If you spend 12% of Net Patient Revenue on medications, does it make the patient happier? They don’t care […]
Here is MVI’s present position on hospice payment reform. Our position is based on our objective, non-political view for we are not affiliated with any national trade organizations or groups. We serve hundreds and hundreds of hospices of all flavors including Not-For-Profit, For Profit, large, small, community-based, and national companies. We do not have large […]
Every day we are bombarded with negativity. If you watch the media, it is all doom and gloom. Take heart, my dear friends….we are in the RIGHT business if we are committed to the cause of hospice and are incorporating the operational structures, methods and cultural tools that help us balance purpose and financial realities. […]
I cringe a bit when I make this statement…and I can feel everyone reading this perspective “tense” up. But the brutal reality for any business organization is the worn-out expression, “No Money, No Mission.” I avoid using the phrase, but it is true. One does not completely understand this until the day one watches a […]
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