Connecting Quality Care to the Bottom Line

Mergers are just one avenue to achieving the changes required in the shift to value-based care.

Charles Santangelo has been a CFO long enough to appreciate the extraordinary changes in his responsibilities in the aftermath of the Patient Protection andAffordable Care Act and other healthcare reforms.

Where once he and other CFOs were essentially entrusted with overseeing the nuts and bolts of finance and accounting, today their roles have been dramatically transformed. “The healthcare model I came up in from a provider standpoint obviously is no longer,” says Santangelo, CFO at not-for-profit Susquehanna Health, a four-hospital integrated health system based in Williamsport, Penn.

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Cyber Insurance: Dare Leave Home Without It

Untitled-2When a mid-February report revealed that more than 100 banks were hacked in what appears to have resulted in over $1 billion stolen from these financial institutions, it was just another reminder of how ubiquitous cyberattacks have become.

From Sony’s systems shutdown to data breaches against Target, Neiman Marcus and Coca Cola last year, virtually every company has been the target of cyberattacks, the occurrence as daily as waking up with a stretch. Not all the illegal intrusions are successful, the combination of firewalls, encrypted transmissions and stern warnings to employees about phishing doing their duty. But, with hackers increasingly deft at ferreting out security weaknesses, no company is Fort Knox.

Finish reading the article at The Washington Examiner.

How a Teenaged Passion for Photography Turned into 500px, the World’s Largest Photo Sharing Community

Evgeny Tchebotarev was 17 years old and living in Toronto, Ontario, when his girlfriend chided him: If he loved photography so much, why didn’t he own a camera?

The year was 2002. Tchebotarev took the criticism to heart and bought his first camera, a Canon Elan 7e.

Today, he’s the Bill Gates of 500px, the world’s premier photo-sharing-and-selling online digital community, tallying more than 5 million registered members. Each month, 20 million people click on to peruse the photography, which is divided into multiple categories like portraits and landscapes. The company’s 58 employees are scattered at two offices in Toronto and Silicon Valley.

But 500px is more than just a fun place to hang out, look at pictures and chat with like-minded people. Its success illuminates the business value of online digital communities. 500px took the well-worn maxim, “If we build it, they will come,” and attached a suffix: “And once they come, we will take their money.”

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Out on a limb: 9 tech predictions for 2015

“In 2015, there will be even more mobile apps in the cloud on cool-looking devices, and at least one of them strapped to the wrist.” Really? You don’t say! That’s like projecting dark skies and misty rain in Seattle tomorrow.

What about some truly risky, out-of-the-box technology predictions? We’ve come up with nine potentially prescient predictions. With some strategic thinking and bet-making, your company can carve competitive inroads as the year progresses, if even a few of these predictions come to pass.

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A VPN’s Crucial Role in Securing the Hub

As organizations leverage ways to connect the enterprise with wide-ranging internal and external sources of key business data, a VPN is seen as a necessary security component–the armed guard protecting this trove of enterprise insight.

Companies are just beginning to create the technology infrastructure that permits real-time access and analysis of wide-ranging performance data to enable more insightful business decisions. One scenario calls for employees at the edges of the enterprise—individuals “touching” customers, suppliers, banks, and other partners—to be given mobile devices with specific data analytics capabilities. The employees would access data relevant to their roles, assess the importance of this information using analytics systems, and then report it in real time to relevant decision makers.

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The New CFO

In the post-ACA world, financial leaders need to become more involved in improving patient outcomes.

The role of the modern hospital CFO has changed considerably in recent years. Not only do they perform a vital strategic role overseeing enterprise planning and performance, by necessity they have become more involved in the clinical aspects of healthcare.

This is not to say that CFOs are taking blood pressure readings or prescribing medications. Rather, in the aftermath of the Affordable Care Act, finance has realized that to improve business outcomes, they must be more involved in enhancing patient outcomes – partnering with physicians in the development of initiatives that attract patients and ensure their experiences are positive.

“The role of the CFO has changed significantly in the last few years and will continue to evolve,” said Mark Bogen, senior vice president and CFO at South Nassau Communities Hospital (SNCH) in Oceanside, N.Y. “In today’s world, you cannot be an effective CFO if you do not have an appreciation of the clinical side of healthcare.”

Finish the article at Healthcare Finance.


Guiding HR’s Transformation

Over the past generation, the people heading up HR in many organizations have become key strategic partners to their respective CEOs, entrusted to lead diverse workforce initiatives to improve talent acquisition and retention, spur business growth, enhance sustainability practices and cultivate a workforce culture that differentiates the organization.

These CHROs are transforming HR in an era where vital skill sets are increasingly difficult to come by and hold, when global outsourcing decisions have never been more complex and challenging, and when the economic environment has demanded greater cost-effectiveness, particularly with respect to finding a balance between retained labor and outsourcing. Workforce innovation is now a strategic imperative at many enterprises, and it is the CHRO who is in charge of achieving and nurturing it.

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Seeking Sustainability

Corporate responsibility initiatives are becoming part of the human capital management equation.

More companies are asking outsourcing service providers about their corporate responsibility and sustainability philosophies and initiatives before putting ink to paper. In some cases, their responses can be a deal breaker.

This transactional environment emphasizes the extraordinary movement toward more ethical, environmentally aware, and socially active positions taken by corporations around the world. Type the words “corporate responsibility and sustainability” into a search engine and it will yield more than 4.4 million hits. A who’s who of companies are on the first page alone— McDonald’s, Coca-Cola, and Monsanto to name a few.

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Small Businesses Dive In to Cyber

According to a 2013 survey by the National Small Business Association, 44% of small businesses have been victims of at least one cyber attack, costing an average $8,700 per breach.

Last year, a survey by the Ponemon Institute reported that 55% of small businesses had experienced a data breach, and 53% had endured multiple breaches. Survey respondents were limited to small businesses with revenues under $10 million.

“It’s not a matter of ‘if’ small organizations will be attacked—it’s a matter of ‘when,’ ” says Leah Montgomery, Western territory cyber security specialist at Chubb. “Any company that stores, transmits or collects proprietary information is at risk.”

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Boxed Out: You’ve Just Been Wal-Marted

The competition in personal lines just got a whole lot stiffer: Wal-Mart, the biggest and most cutthroat competitor in America, is now hawking car insurance.

The big question: Will agents feel the same pinch as the old neighborhood grocery store?

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