Greatest_Hits_Book_2018

Best Financial Performance

• AtlantiCare Health System will exceed its budgeted operating margin for fiscal year 2018. • Finance implemented the Capital Budgeting and Capital Tracking module. • ARMC Revenue Cycle Team, in conjunction with Geisinger colleagues, was the winner of the Healthcare Financial Management Association (HFMA) MAP Award for high performance in revenue cycle. • Human Resources implemented new benefits administration partners (45 percent savings, or approximately $216,000 per year). • Successfully launched and conducted a $1.6 million fundraising campaign organized around the AtlantiCare Foundation’s 40th anniversary to support our Cancer Care Institute, Behavioral Health, Healing Arts, and the establishment of a Healthy Communities Fund. • Successfully negotiated the following value-based contracts: – OMNIA - $1 million in shared savings – Medicaid - $130,000 in shared savings – Bundled payments - $5.1 million in shared savings FY 2018; nearly $8 million since June 2018 • Internal medicine hospitalists reduced costs by nearly $600,000 on targeted medicine diagnosis related groups (DRGs) through the Clinical Effectiveness Committee initiatives. • Pharmacy service line generated over $500,000 in drug cost savings. • AtlantiCare successfully reported Merit-based Incentive Payment System (MIPS) results for AtlantiCare Physician Group, AtlantiCare Regional Medical Center, AtlantiCare Behavioral Health, and Urgent Care Centers with positive revenue adjustment for all entities and additional performance bonus for APG. • Surgery Center continues to exceed national benchmarks for days in accounts receivable (36). • Upgraded Kaufman Hall Financial Reporting and Budgeting System to new platform (Axiom). • AtlantiCare Physician Group (APG) operating income is $5.9 million favorable to budget through May 31, 2018. • AtlantiCare Physician Group (APG)APG net investment per provider is 19 percent favorable to budget ($76,731 compared to $94,710). • ARMC completed Anesthesia Medication Management Project in July 2017, reducing drug expenses by more than $48,000. • Implemented and deployed a new Decision Support System (Performance Manager) and Visualization Tool (Explorer) with over 20 users trained to date. • Finance secured over $5 million of additional funding through successful settlements of governmental cost reports. • Finance secured over $2.5 million of at-risk revenue from one of our largest payers by successfully defending utilization review practices regarding their cases. • AtlantiCare achieved status of the only Tier 1 provider with both Horizon and AmeriHealth in Atlantic County. • Oncology enhanced access to pharmaceutical drug financial support programs and billing support for our patients and achieved a 30 percent reduction in bad debt for medical oncology. • Pharmacy service line collaborated with Geisinger Health System Enterprise Pharmacy contracting for our wholesaler agreement with Cardinal Health, as well as several drug contracts. • ARMC decreased intravenous acetaminophen cost and utilization by nearly 50 percent.

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