South Florida Hospital News
Thursday September 19, 2019

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September 2018 - Volume 15 - Issue 3




Healthcare valuations require industry-specific knowledge and an understanding of how valuation approaches and methods apply to health care. For instance, Fair Market Value (FMV) is defined by Revenue Ruling 59-60, as, “the price at which the property would change hands between a willing buyer and a willing seller when the former is not under any compulsion to buy and the latter is not under any compulsion to sell, both parties having reasonable knowledge of relevant facts.” 

Nearly three decades ago when I was just starting in banking, my mentor encouraged me to specialize telling me, “This is an interesting time in healthcare.” There has never been a time that wasn’t true, partly because of longstanding pricing and billing challenges and, today, for more recent shifts in the payment model from fee for service to fee for value.

Every physician practice has two distinct components: clinical and business. Most providers spend the majority of their time focusing on the clinical side. However, the business side is just as important if you want your practice to grow and thrive.

Healthcare is evolving rapidly, integrating technology, the patient experience and federal regulations. To meet these new standards, healthcare finance is also finding itself at a crossroads.

Thomas Kester, RN, MSN, DNP, CNOR, is the Chief Nursing Officer (CNO) at Broward Health Medical Center. As CNO, Kester is responsible for providing nursing and clinical leadership and ensuring that clinical staff needs are met.

This September, Broward Health Coral Springs will be opening a new, four-story, 112,000 sq. ft. patient tower that will expand its surgical, women’s and children’s services. The expansion is the largest addition since the facility opened in 1987 and is designed to align hospital services with the needs of a growing community.

There was a time when doctors and hospitals were able to concentrate on simply keeping patients healthy. In today’s highly competitive and regulated health care environment, it is tough enough just to keep up with the changing rules coming out of D.C. and Tallahassee. Many hospitals, health care providers, and related businesses spend countless hours focused on maximizing / chasing their medical reimbursements. 

Greystone Healthcare Management, an industry-leading healthcare management company, announces progress of its newest skilled nursing facility in Kendall later this year. Greystone has invested $30 M into this innovative center that will feature an array of medical services as well as specialized orthopedic, cardiac and stroke rehabilitation programs. 

Luis J. Cano, Senior Vice President in charge of the Miami office of Gresham, Smith and Partners (GS&P), recently discussed some of the projects his company is working on in the area. Two of the major clients, for which they are doing multiple projects, are Jackson Health System and Baptist Health South Florida, both in Miami.

Music can often trigger some of our happiest memories in life. It is why we choose songs to mark milestones such as weddings, graduations and even birthdays. And, most recently, science is showing us that music has the ability to unlock the memories of patients who are afflicted with Alzheimer’s disease.

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