Profit Without Census: How to Achieve Up to $63K in Cost Savings for SNFs

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Profit Without Census: How to Achieve Up to $63K in Cost Savings for SNFs

Product Code: YLHA020718

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Profit Without Census: How to Achieve Up to $63K in Cost Savings for SNFs

Calendar
Loyal Listener Library

Presented on:
Wednesday, February 7, 2018
1:00-2:00 p.m. Eastern

Presented by:
Becky Ziviski, CPA, LNHA

Level of Program:
Intermediate

SNF occupancy rates continue to trend downward. The National Investment Center for Senior Housing and Care published a report in June 2017 that found SNFs’ occupancy rates were at 82%—the lowest they’ve been in five years.

When facilities struggle with flat or declining census, their profitability often suffers. However, profitability for long-term and postacute care providers is not solely based on census and reimbursement. Facilities need to think outside the box to remain profitable during times of low or declining census.

During this 60-minute webinar, expert speaker Becky Ziviski, CPA, LNHA, will walk attendees through cost-saving strategies to reduce spending by tens of thousands of dollars. Participants will learn small changes that can affect their bottom line and what actions need to be taken by the interdisciplinary team to obtain the most savings.

At the conclusion of this program, participants will be able to: 

  • Implement cost-saving strategies to save on overhead, pharmacy, other departmental costs
  • Increase contribution margin by up to 1.3%
  • Take action so that each department can have a positive effect on the bottom line 


Who Should Listen?

  • Administrators
  • Owners
  • Business office staff
  • CFOs
  • Executive directors
  • Medical directors
  • Accountants
  • Consultants
  • Directors of nursing


Agenda 

  • Strategies for administrators/CEOs/owners to potentially reduce overhead costs up to $16,000
    • Coach employees to be positive advocates for sustainable cost reduction
    • Reduce annual property taxes
    • Capitalize rather than expense assets
    • Use staff meetings as a budget building tool
  • Implement simple systems and inspire staff to care about the small things and how they affect the bottom line
    • Monitor medications to avoid losing money
    • Expensive medication carve-outs
    • Revenue reconciliation reports
    • Strategies for controlling and monitoring payroll expenses
  • Train the business office to overcome common collections challenges
    • Strategies for documentation
    • Policies and procedures for handling bad debt
    • Strategies for revenue control
    • Saving and earning money through accounts payable
    • Discounts
    • Consolidated billing
  • Implement cost-saving strategies with the interdisciplinary team
    • Maintenance department
    • Therapy and activities department
    • Dietary department
    • Housekeeping
  • Live Q&A


Tools

  • Utilization review worksheet
  • Letter to families regarding Medicaid applications
  • Letter to residents regarding potential use of 1099-C


Meet the Speaker

Becky Ziviski, CPA, LNHA

Becky Ziviski, CPA, LNHA, is the CEO of Profit Without Census, a financial healthcare consulting firm in Ohio. She is also the author of Profit Without Census? A Nursing Home Administrator’s Guide to Profitability by Department. In addition to her experience in public accounting as an auditor, she has served as chief financial officer, administrator, and executive director for family- and corporate-owned skilled nursing facilities over the last 15 years. She has been responsible for multimillion-dollar budgets while sustaining high profit margins, family-friendly atmospheres, and deficiency-free health surveys. Ziviski helps healthcare facilities achieve the success they desire, whether it be profit enhancement, increased fair market value, or process improvements. She believes that increased profits help give facilities the framework to improve the lives of residents and employees. She is a graduate of the University of Toledo and also attended Ohio State University. To learn more about Ziviski, visit www.profitwithoutcensus.com.


Webinar system requirements and program materials: 
To fully benefit from the webinar experience, please note you will need a computer equipped with the following:

Browser: Microsoft Internet Explorer 6 or later, Firefox, Chrome, or Safari, with JavaScript enabled 
Internet: 56K or faster Internet connection (high-speed connection recommended) 
Streaming: for audio/video streaming, Adobe Flash plug-in or Safari browser on iOS devices 

Prior to the webinar, you will receive an email with detailed system requirements, your login information, presentation slides, and other materials that you can print and distribute to all attendees at your location. 

CAN'T LISTEN LIVE? 
No problem. The On-Demand version is now available. Use it as a training tool at your convenience—whenever your new or existing staff need a refresher or need to understand a new concept. Play it once or dozens of times. A $199 value! 

PLEASE NOTE 
Participation in the webinar is just $199 per site. All materials must be retrieved from the Internet. 

Call your customer service representative toll-free 800-650-6787 or email customerservice@hcpro.com if you have questions.