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Related Experiment Videos

Achieving a balance between risk and return.

D E Farley1

  • 1Health Policy and Analysis, HSS, Inc., Bethesda, Maryland, USA.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|September 30, 2000
PubMed
Summary

Healthcare organizations can enhance profitability by managing financial risk effectively. This involves understanding patient health and treatment options, and using data to control resource use variations.

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Area of Science:

  • Healthcare Management
  • Health Economics
  • Risk Management

Background:

  • Healthcare organizations often avoid financial risk by transferring it to other entities.
  • Risk-bearing entities require comprehensive patient health status and treatment efficacy data to improve financial performance.

Purpose of the Study:

  • To explore risk management strategies for healthcare providers and health plans.
  • To identify methods for improving return on assets through effective risk management.

Main Methods:

  • Analysis of risk management strategies in healthcare.
  • Examination of data requirements for analyzing resource use variations.
  • Discussion of incentive design for controlling resource use.

Main Results:

  • Risk-bearing organizations can improve financial returns with complete patient and treatment information.
  • Strategies include growth, incentive design, and controlling resource use variations.
  • Data analysis is crucial for understanding and managing resource use efficiency.

Conclusions:

  • Effective risk management is key for healthcare organizations to improve financial performance.
  • Data-driven strategies and incentives are essential for controlling resource use and enhancing efficiency.

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