More room for change: To get the best of PPS, fine-tune your finances.(prospective payment system)

To get the best of PPS, fine-tune your finances

WASHINGTON MAY BE WAKING UP TO THE FACT THAT THE Medicare cuts called for in the Balanced Budget Act were too steep, but skilled nursing providers are still faced with the greatest financial and operational challenges of the last 30 years.

How can you survive financially?

The answer is to keep fine-tuning the way you do business by revamping your financial and operating models.

First, outline your core competencies. Consider all financial systems, clinical systems, ancillary contracting, and resource management--and don't forget regulatory status, compliance, and labor relations. Analyze your facility's or company's strengths and weaknesses, keeping …