Resources: Call Pay and Financial Stability | MaxWorth Consulting Group, LLC.

Maxworth Resouces: Call Pay and Financial Stability

The MaxWorth Team has been working with professionals in the healthcare industry for over thirteen years. What’s the most important thing we’ve learned? That there’s always more to learn. Healthcare is constantly changing. So are the challenges we aim to address. We hope you can benefit from the collective knowledge and experiences of our clients and strategic partners.

Case Study: New Hospital Finds Path to Financial Stability

New hospital finds path to financial stability 105 Beds 45,000 ER Visits Murrieta, CA “It’s been a good financial model because it’s reliable. We’re very pleased with it, and I’m glad we implemented it.”Peter Baker, Senior Vice President/Administrator of Loma Linda University Medical Center – Murrieta The Challenge Whenever you’re launching a new project,…

Case Study: Hospital CEO finds solution to call budget unpredictability

Hospital CEO finds solution to call budget unpredictability 468 Beds Trauma Designation Johnstown, PA “Anybody that’s looking at how to manage call pay, they absolutely should go through the process and learn about it.” Bill Caldwell, CEO of Conemaugh Health System The Challenge Predictability in budgeting is everything. But for many hospital administrators, the…

Physician recruitment in rural America: Is paying more a sustainable solution?

Physician recruitment in rural America: Is paying more a sustainable solution? According to the 2021 Medscape Physician Compensation Report, states where physicians are paid most tend to be more rural. The top three, for example, are Alabama, Kentucky, and Oklahoma. This is most likely a result of these states having to pay more to attract…

The enduring rise of call pay doesn’t have to be a liability

The enduring rise of call pay doesn’t have to be a liability When MaxWorth first created the Call Pay Solution, on-call compensation was one of the most contentious topics in healthcare. At a time when more and more physicians were demanding to be paid for call, most administrators were reluctant to establish a call pay…

Struggling healthcare organizations need sustainable solutions

Struggling healthcare organizations need sustainable solutions The economic impact of the pandemic has been hardest on hospitals in rural and underserved communities, many of which were already struggling to remain viable due to pre-pandemic financial strain. Mercy Hospital, the oldest in Chicago, announced this week that it has filed for bankruptcy. Mercy is…

Curbing ED costs could save rural hospitals

Curbing ED costs could save rural hospitals A recent study confirms that rural hospitals are threatened by significant financial instability. Out of the country’s 1,844 rural hospitals, 453 are vulnerable to closure. In fact, nearly 50% are operating in the red, and this number is steadily increasing, evidenced by the 39% that were operating in…

The rising cost of call pay can be unsustainable, even for large health systems

The rising cost of call pay can be unsustainable, even for large health systems The rising cost of call pay is well documented. According to a 2014 Sullivan Cotter survey, the average hospital’s call pay expense rose 50% from 2012-2014, and it has continued to rise in the years since. Many have turned to physician…

Call Pay: An Unlikely Path to Financial Stability

Call Pay: An Unlikely Path to Financial Stability The traditional approach to call pay allows the expense to become an unpredictable liability. Since the passage of EMTALA, there has been a steady increase in physician demands for call compensation. Hospitals often feel they have no choice but to give in to these demands given their…

The uninsured rate has increased. What does this mean for our hospitals?

The uninsured rate has increased. What does this mean for our hospitals? By: Leah Worthy The annual U.S. Census Bureau report found that the number of Americans without insurance rose in 2018 for the first time in a decade, increasing by about two million people. It’s reported that a rise in uninsured Americans places increased…

Securing Call Coverage: Is employment the answer?

Securing Call Coverage: Is employment the answer? By: Kyle Worthy When determining the fair market value of on-call compensation rates, the latest Sullivan Cotter survey is the most frequently used resource. At MaxWorth, we don’t believe survey results should be the sole factor in the decision-making process. Surveys are often flawed, and their rates are…

Hospital call pay: Turning a burden into a benefit

Hospital call pay: Turning a burden into a benefit By: Kyle Worthy, Senior Consultant Hospitals are struggling to survive. Financial challenges from shrinking reimbursements and skyrocketing expenses have pushed many facilities to the brink. The problem is especially dire in rural communities, where 5 percent of hospitals have closed since 2010, and another 21 percent…