5. Billing Optimization
Also known as "documentation improvement" or "documentation integrity."
In the last month, we've heard numerous physicians and hospital executives talk about the push from their accounting departments to document—legally of course—complex comorbidities that will generate a more lucrative reimbursement. This is especially important with declining revenue from loss of incentive payments and disproportionate share funding, readmission penalties, and upcoming financial cuts for hospitals with rates of higher hospital-acquired conditions.
Better documentation also may impact risk adjustment equations that may help a hospital's score on certain public reports, reflecting that their patients are indeed sicker than their competitors' patients.
6. Servant Leader
Robert Wachter, MD, chief of both medical service at UCSF Medical Center and of the Division of Hospital Medicine, says that while the phrase "servant leader" is not that new, it is the latest catch phrase heard within the C-suite. "It describes a leader who is there to serve the employees and the company, rather than be a larger-than-life, Lee Iacocca type," he says.
References around the Web suggest such a person is an executive who provides his or her teams with the resources they need, from staffing to sophisticated electronic health record systems, to support through respect and recognition.