Minnesota Hospital Association


August 31, 2015

MHA Newsline: Aug. 31, 2015

In this issue 

Member spotlight: Park Nicollet Methodist Hospital earns MHA Innovation of the Year in Patient Care Award

Park Nicollet Methodist Hospital in St. Louis Park received the 2015 Innovation of the Year in Patient Care Award in the large hospital category from the Minnesota Hospital Association (MHA). As an Accountable Care Organization, Park Nicollet developed infrastructure to ensure safe patient transitions.   

One transition of key importance is the transition from hospital to home. Although the hospital had made great improvements, there continued to be a gap in time between the patient discharge and arrival of the home care nurse or the timing of the follow up visit. This caused concern and could result in an unsafe situation or readmission for the patient.   

In January 2014, the St. Louis Park Fire Department approached Park Nicollet to discuss how they could partner around patient safety and transitions. The hospital learned that several of the fire department's emergency medical calls were occurring after hospital discharges. In March 2014, Park Nicollet and five community fire departments joined together to create a post-discharge firefighter visit.   

This structured, one-time visit is a face-to-face meeting with a recently discharged patient to ensure that the patient has safely transitioned to home and understands the next steps in his or her care. The visit includes: medication review, follow up visit(s), education on signs and symptoms and who to call with questions, and a home safety assessment. Patients are referred to resources as needed. For example, in June 2014, a food insecurity question was added to the visit and connections were made with local food shelves so that if a patient identifies a need for food, delivery can happen that same day.   

As of February 2015, 227 visits have taken place and 99 percent of patients who had a visit would recommend one to a family member or friend. Working with local fire departments has created a unique partnership that benefits the patient, care system, emergency responders and the community. Learn more about the MHA awards on MHA’s websitereturn to top   

2015 Minnesota Hospital Financial Ratio Book available

The 2015 Minnesota Hospital Financial Ratio Book, based on 2014 financial statements, is now available for MHA members.   

The book contains 27 key financial ratios that hospital administrators, board members and financial officers need to understand their hospitals’ financial standing compared to their peer groups in Minnesota. The in-depth report is produced from hospitals’ audited financial statements and it provides unique insight into the current trends different hospital groups face in Minnesota.  

 The book also includes common-sized financial statements, allowing hospitals to compare their own statements against those with similar characteristics. Further, a system-level section is included showing the same 27 key financial ratios for hospital systems operating in the state.   

The following are some of the key summary points in this year’s ratio book: 

  • Between fiscal year (FY) 2013 and FY 2014, the statewide median operating margin increased from 2.6 percent to 3.2 percent. 
  • The statewide median net margin increased from 3.6 percent to 5.5 percent. 
  • Liquidity ratios slightly weakened, and days in patient accounts receivable decreased from 53.75 days in 2013 to 51.87 days in 2014. 
  • The days cash-on-hand ratio saw a slight increase, from 31.38 days in 2013 to 34.61 days in 2014. 

The standard ratio book costs $100 and customized peer-group reports are $50 for MHA members. For more information, contact Jonathan Peters, director of data and financial policy, MHA, 651-659-1422. To order the book or customized reports, contact Jennifer Sanislo, division assistant, MHA, 651-659-1440. return to top   

Laboratory Workforce Summit Sept. 25

HealthForce Minnesota will host the Minnesota Laboratory Professionals’ Workforce Summit on Friday, Sept. 25, from 8 a.m. to 4 p.m. at the CentraCare Health Plaza Education Center in St. Cloud. Partners include the Minnesota Department of Health, the American Society for Clinical Laboratory Science – Minnesota and the Clinical Laboratory Management Association.   

At the summit, participants will generate ideas and solutions for a workforce roadmap to cover: 

  • Clinical capacity for educating laboratory students 
  • Simulation laboratory support 
  • Return on investment for providing clinical rotations 
  • Creative ideas for educating tomorrow’s professionals 

View the agenda and register onlinereturn to top   

AHA webinar Sept. 15 on patient and family engagement strategies

The American Hospital Association’s (AHA) Hospitals in Pursuit of Excellence (HPOE) initiative will host a free webinar Tuesday, Sept. 15, from 1-2 p.m. on results from the Health Research and Educational Trust’s recent survey on hospital strategies to engage patients and families in their care. Two hospitals also will discuss how they implemented their practices. Patient and family engagement is associated with fewer adverse events, lower health care costs and use of services, better patient self-management and higher patient satisfaction. Learn more and register for the webinar on HPOE’s websitereturn to top   

Thank you to Annual Meeting sponsors

The MHA Annual Meeting will be held Sept. 16-18 at Madden’s on Gull Lake in Brainerd. Many key sponsors have already committed to helping MHA deliver a high-quality program. MHA would like to thank the following sponsors for their generosity and continued commitment to Minnesota health care. For more information about sponsorships, contact Cari Kronschnable, clerical/program coordinator, MHA, 651-659-1428.   

Platinum Sponsors
MMIC Group  

Gold Sponsors
CliftonLarsonAllen LLP
McGladrey LLP
McGough Construction
Ryan Companies U.S. Inc.   

Silver Sponsors
BMO Harris Bank
Dougherty & Company LLC
EAPC Architects Engineers
Eide Bailly LLP
Harris Mechanical
JE Dunn Construction
Kraus-Anderson Construction Company
Mortenson Construction
NXC Imaging
Rural Physicians Group
Stinson Leonard Street LLP
Wipfli LLP

Bronze Sponsors
Boldt Construction
Delta Medical Systems
Ideal Protein of America
Sunovion Pharmaceuticals, Inc.   

For more information, view the brochure or visit MHA’s website. return to top