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Posts tagged healthcare
Bursting your bubble

By Pamela J. Gallagher

In our society, “living in a bubble” has long been frowned upon as an out-of-touch, undesirable way of living life. Yet four years ago, the entire world received a crash course in “bubble living” as we quarantined and socially distanced to protect our health and the health of others. It seems that today, though the threat of COVID has dramatically lessened, some are in many ways still stuck in this isolating way of living and thinking.

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Lessons from the adoption of AI in healthcare finance

By Pamela J. Gallagher 

The emergence of artificial intelligence (AI) is the topic on every healthcare leader’s mind. In many ways, though, AI is old news to those of us in healthcare finance. I can say from experience that once an AI technology comes onto the scene, there is no stopping it. AI is here to stay. The question leaders must grapple with is how to embrace it wisely and with purpose.

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Is remote work a long-term fit for financial services?

Companies seem to still be determining what respective value remote versus in-person work offer to their organization.  Where any given organization lands on this issue depends on a number of factors, and though strong opinions abound, it isn’t an easy question to navigate.

From my vantage point as a financial executive in the healthcare industry, I believe virtual financial services offer tremendous value to organizations—to a point.

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Death by data: How to avoid analysis paralysis

By Pamela J. Gallagher

The modern healthcare industry is dependent on data. The steady improvement of how data is collected and analyzed has allowed us to make great strides in providing quality care and improving the health of our patients. At the same time, the pandemic has highlighted how this dependence on data can lead to “analysis paralysis” that can harm communities' health and well-being.

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How can we regain the “middle ground?”

By Pamela J. Gallagher

After the tumultuous events of the past several years, I’ve noticed in my conversations with others that there no longer seems to be much middle ground on the issues of our day. Every issue and event seems to be polarizing and comes with a set of assumptions about the character and values of the people on the “other side.” By now, we have seen that this is an exhausting way to live.

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What does it mean?

By Pamela J. Gallagher

During a recent conversation with a colleague who used to serve in the military, we discussed the instability of the past several years and how best to find a way forward. I shared that I saw the need for more collaboration as we try to effectively cope with all the changes we’ve experienced. He looked completely shocked by my suggestion! “Why on earth would you want to collaborate?” he asked.

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Fix the problem, not the blame

By Pamela J. Gallagher

When you are hired into a position after someone has left the organization, my advice is this: Don’t speak ill of the departed! You may not find things in good order, or the way you would like to have left them. However, don’t take the low-hanging fruit of blaming your predecessor for every issue that arises, and don’t accept finger-pointing from your new team either. In my decades of experience, there is always more to a situation than meets the eye.

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Hire to get the job done, not to fill a position

By Pamela J. Gallagher

In the midst of the Great Resignation, staffing is complete chaos. Across industries, organizations are rushing to fill vacancies so that customer service (and profits) don’t skip a beat. In the urgency of the moment, everyone is looking to hire permanent employees to replace the ones that resigned, but I think businesses would benefit from taking a pause to evaluate their true needs and rethink how they approach hiring.

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Caring for employees left behind in the Great Resignation

By Pamela J. Gallagher

Everywhere I see headlines about “The Great Resignation.” Many are pontificating about why people are leaving jobs or about unemployed individuals’ motivations for choosing to delay looking for a new position. However, I am particularly concerned with the employees who are left behind to pick up the slack as open positions remain unfilled.

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In healthcare finance, the numbers alone are not enough

By Pamela J. Gallagher

Healthcare organizations spend tens of millions on sophisticated data collection and storage, yet it is hard to define what data is worth to an organization. What is its true value? This depends entirely on how the organization uses it. If an organization does not understand how to interpret and make use of their current and historical data, they will not optimize the return on this significant investment.

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The value of great leadership in healthcare

By Pamela J. Gallagher

The need for strong leadership in the healthcare industry has come into stark relief during the pandemic. Good leaders shined, while organizations whose executives were only equipped to deal with the status quo struggled. COVID-19 has tested the abilities and skills of healthcare leaders. The ones who embraced uncertainty, had built strong teams, and lived by their personal and organizational values before the pandemic have led most effectively during this past year.

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Patients and hospitals benefit when hospitals know the actual cost of their services.

By Pamela J. Gallagher

Hospitals and health systems have spent the past decade responding to patient and government demands for increased price transparency, and the demand only continues. While the healthcare industry has made strides in ensuring patients know the cost of their care up-front, consumer expectations are growing to include that hospitals should be able to explain how their costs are determined.

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Retail newcomers are great for healthcare, but bad for health systems

By Pamela J. Gallagher

Patients have been begging for affordability for decades, and the healthcare industry’s reluctance to innovate and adapt to patient demands has left a door open for retailers to move into the healthcare business. I believe this will be great for healthcare, but potentially disastrous for health systems.

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Outsourcing: Healthcare’s ‘out-of-the-box’ solution

By Pamela J. Gallagher

In recent decades, many companies have adopted the maxim, “Do what you do best, and outsource the rest.” From the ability to focus on the core of their business to gaining outside expertise to boosting their quality of service, there are many reasons outsourcing may be appealing to an organization.

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Plummeting ED volumes offer an opportunity to re-imagine hospital finances

By Pamela J. Gallagher

In 2019, emergency departments (ED) across the U.S. saw an average of 2.1 million patients per week, according to the Centers for Disease Control and Prevention (CDC). Over the past several decades, healthcare organizations have invested large amounts of money, time, and effort to study the trend of ever-increasing numbers of high-utilizers in the ED and discover solutions to slow this growth. Hospitals have offered care navigators, clinics for less emergent issues, and countless other alternatives, but with next to no progress. People, it seems, just wanted to come to the ED.

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