Synopsis
Forward-thinking hospitals are doing their best to tackle a serious but common financial blindspot in the provider world called, “physician spend” – the total dollar amount a hospital spends on their physician arrangements. Why is this a blindspot? Because physician spend data – which can represent tens of millions of dollars – is usually siloed within healthcare organizations. And the underlying processes driving this data – specifically, tracking physician time and corresponding payments – are typically paper-based and complicated. It is this exact “perfect storm” of a scenario that drives excessive costs and compliance risk. In this webinar hosted by Becker’s Hospital Review, Ludi Founder and CEO Gail Peace discusses physician spend, why it’s a new financial category for hospitals and how to best track and optimize it. Gail is joined by Terry Metzger, System Chief Financial Officer of St. Vincent Health, which is part of Ascension. Terry discusses some of the work his team has been doing with Ludi and their DocTime® technology to better manage physician spend with his medical teams. He also shares some of the lessons and best practices he’s learned along the way.