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PDS Gives Small Rural Hospital a Powerful Tool in Managed Care Negotiations
Chris Comer has the perfect analogy for why every hospital should go into managed care contract negotiations armed with PDS web-based market intelligence and revenue management tool.
"It's like when you go to buy a new car," explained Comer, CFO of Magnolia Regional Medical Center, a 49-bed, city-owned acute care hospital in Magnolia, Ark. "If you see a Cadillac with a $60,000 sticker on it and you get it for $58,000, you might think you got a great deal. But if someone else comes in and buys the same model for $50,000, you're not even going to know that you've been taken advantage of."
He added, "Anyone can tell you what the MSRP is. But the really critical thing to know is what the dealer is actually selling those cars for. It's the same with the insurance companies. We may think we did great at my hospital because we got a 3 percent rate increase - but maybe all of the other hospitals got a 12 percent raise. PDS is like the Kelley Blue Book - it allows me to determine the true market price. It gives me the same information the health plans have had for decades."
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Do You Play to Win - or to Not Lose? 
In what kinds of situations are you most effective? What factors strengthen-or undermine-your motivation? People answer these questions in very different ways, and that's the challenge at the heart of good management-whether you're managing your own performance or someone else's, says Heidi Grant Halvorson and E. Tory Higgins in this article in Harvard Business Review.
People are either promotion-focused, concentrating on rewards, taking chances and playing to win; or prevention-focused, concentrating on being safe, cautious and playing to avoid losses. Understanding whether you are a promotion-focused leader or a prevention-focused leader will allow you to, frame goals, seek or give feedback, and provide incentives that will strengthen your motivation or your team's.
In continued partnership,
Jim Barber
Chairman & CEO, PDS
President & CEO, HASC
"You don't win once in a while, you don't do things right once in a while, you do them right all the time." -- Vince Lombardi
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3 Steps to Create Sustainable Hospital Financial Improvement 
Among the 3 steps that Will King of HFS Consultants outlines in this article by Bob Herman in Becker's Hospital Review ; are using data to perform "apples to apples" comparisons with your peers, and the importance of staying diligent with payers and the rates you are receiving. These are 2 areas where PDS can help! Our database of paid claims provides you with the support you need for successful payer negotiations and to create a sustainable financial future.
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PDS University -
Preparing for Bundled Payments - Ortho  and CABG
Date: March 28th
Time: 11:00 a.m. PST, 1:00 p.m., CST |
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