Healthcare Financial Management articles from August 2003

Healthcare Financial Management archives from August 2003

Scully voices concern about niche providers, provider help in drug bill.(Policy Watch)(CMS administrator Tom Scully provides Wall Street's view of health care)(Brief Article)
August 1, 2003... CMS has dropped its plan to develop a rule to address so-called niche providers, CMS administrator Tom Scully told attendees at a conference on Wall Street's view of health care. ********** There was some question, he said, whether CMS...

CMS gives nursing home guidance on HIPAA, other issues.(Policy Watch)(Brief Article)
August 1, 2003... The CMS Center for Medicaid and State Operations issued five memos to states' survey and certification agencies in June, providing guidance and clarification on a variety of issues. With regard to nursing home survey results and HIPAA, CMS says...

Negotiations begin on Medicare prescription drug bills.(Policy Watch)(Brief Article)
August 1, 2003... At press time, the House and Senate conference committee was set to begin negotiations to reconcile the differences between the two versions of the Medicare modernization and prescription drug bills passed by the two houses. The committee, as...

CMS proposes to expand coverage of implantable cardioverter defibrillators.(Policy Watch)(Brief Article)
August 1, 2003... CMS is proposing to expand coverage for implantable cardioverter defibrillators (ICDs) used to monitor heart rhythm in patients with heart disease and deliver an electrical shock to the heart when a life-threatening ventricular arrhythmia is...

The May Producer Price Index (PPI) for health services declined by 0.3 percent, following a 1.1 percent jump in April, the Bureau of Labor Statistics reported June 13.(Brief Article)
August 1, 2003... ... The May Producer Price Index (PPI) for health services declined by 0.3 percent, following a 1.1 percent jump in April, the Bureau of Labor Statistics reported June 13. Health services PPI is 3.5 percent higher than one year ago. To read...

Medical care costs rose 0.3 percent in May to a level 4.0 percent higher than a year ago, the Bureau of Labor Statistics reported June 17.(Brief Article)
August 1, 2003... ... Medical care costs rose 0.3 percent in May to a level 4.0 percent higher than a year ago, the Bureau of Labor Statistics reported June 17. By comparison, the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.2 percent in May...

CMS cancels July 2003 mass physician claims adjustments.(Policy Watch)(CMS cancels the automatic mass physician claims adjustments that were to begin 7/03)(Brief Article)
August 1, 2003... CMS has canceled the automatic mass physician claims adjustments that were to begin July 2003. CMS had originally determined the adjustments were necessary to correct payment errors resulting from the delay in the implementation of the Medicare...

Home health payment rates increase by 3.3 percent.(Policy Watch)(Medicare payment rates to home health agencies will increase by 3.3% in 2004)(Brief Article)
August 1, 2003... Medicare payment rates to home health agencies will increase by 3.3 percent in 2004, CMS announced in the July 2, 2003, Federal Register. Under the home health PPS, Medicare pays higher rates for care of beneficiaries with greater needs. In...

CMS's July 2003 quarterly update to the hospital outpatient payment system.
August 1, 2003... ... CMS's July 2003 quarterly update to the hospital outpatient payment system addresses the following: * New HCPCS codes and their status * APC changes and additions * Changes in drugs and biologicals * Pass-through device...

The federal government should assume full responsibility for the coverage of Medicare beneficiaries who are also eligible for Medicaid, the National Governors Association (NGA), told the leadership of the Senate Finance Committee.(Brief Article)
August 1, 2003... ... The federal government should assume full responsibility for the coverage of Medicare beneficiaries who are also eligible for Medicaid, the National Governors Association (NGA), told the leadership of the Senate Finance Committee. In a June...

CMS instructs physicians on new ICD-9-CM coding requirements.(Policy Watch)(Brief Article)
August 1, 2003... Physicians and other providers have new requirements for ICD-9-GM coding, according to a CMS program memorandum (PM) released June 10. PM B-03-046 states that, beginning October 1, 2003, all paper and electronic claims submitted to Medicare...

FASB seeks to amend QSPE guidance.(Policy Watch)(qualifying special-purpose entity)(Brief Article)
August 1, 2003... The FASB has issued for public comment a proposal to provide more specific guidance on the accounting for transfers of a company's financial assets to an off-balance-sheet structure known as a qualifying special-purpose entity (QSPE). The...

Down to 'bare bones': states reconsider mandated benefits: at one time, states seemed intent on requiring U.S. health insurers to provide coverage for certain healthcare services. That time appears to be over.(State Policy Watch)
August 1, 2003... In the 1990s, spurred by the managed care backlash and constituent demand, state legislators and governors nationwide introduced hundreds of bills requiring insurers to provide coverage for a variety of healthcare services. Commonly referred to...

Get active and reap the benefits: I came away from HFMA's recent Annual National Institute glad to be a part of such a first-class conference.(From The Chairman)(Editorial)
August 1, 2003... More than 3,000 healthcare financial professionals from across the country came to Baltimore to learn, network, and have some fun in the process. From the preconference programs and the opening reception to the last educational session and the...

GPOs do not raise antitrust concerns.(Letters To The Editor)(Letter to the Editor)
August 1, 2003... As the President and CEO of The Health Industry Group Purchasing Association, I would like to respond to Mr. Brock's article "Hospitals, Group Purchasing Organizations, and the Antitrust Laws," which was published in the March 2003 issue of...

Healthcare spending remains high in 2002 despite stabilization.(Industry Watch)(Brief Article)
August 1, 2003... Healthcare spending among those with private insurance jumped 9.6 percent during 2002, growing almost four times faster than the overall economy, which increased 2.7 percent, according to a study published by the Center for Studying Health...

New physicians question medicine as a profession.(Industry Watch)(with many concerned about the malpractice crisis)(Brief Article)
August 1, 2003... Medicine would not be the chosen field for one in four newly trained physicians offered the opportunity to begin their careers again, according to a survey by Merritt, Hawkins, & Associates, a Dallas-based physician search and consulting firm....

Nursing home market report paints bleak picture.(Industry Watch)(the nursing home industry faces a wave of bankruptcies)(Brief Article)
August 1, 2003... A new wave of bankruptcies may soon sweep the nursing home industry, according to some members of the investment community. The investors' views are cited in CMS's second annual market report, which projects a negative outlook overall for the...

AstraZeneca pharmaceuticals settles with DOJ.(Industry Watch)(Brief Article)
August 1, 2003... AstraZeneca has agreed to pay $355 million to settle criminal and civil charges in connection with its drug pricing and marketing practices for Zoladex, a prescription drug used primarily for the treatment of prostate cancer. The agreement...

Pediatrix under investigation for Medicaid billing practices.(Industry Watch)(Pediatrix Medical Group Inc. is being investigated by a U.S. attorney's office)(Brief Article)
August 1, 2003... Pediatrix Medical Group, Inc., announced that it has been advised by a U.S. attorney's office that the office is conducting a civil investigation into Pediatrix's Medicaid billing practices nationwide. The U.S. attorney's office intends to...

JCAHO unveils revised accreditation standards.(Industry Watch)(the Joint Commission on Accreditation of Healthcare Organizations)(Brief Article)
August 1, 2003... The Joint Commission on Accreditation of Healthcare Organizations (JCAHO) has issued revised accreditation standards that increase the focus on processes critical to providing safe, high-quality health care, according to a recent JCAHO press...

HHS launches new efforts to boost electronic health information system.(Industry Watch)(Brief Article)
August 1, 2003... HHS has signed an agreement with the College of American Pathologists to license the college's standardized medical vocabulary system, known as SNOMED (Systematized Nomenclature of Medicine) Clinical Terms, and make it available free to...

HCA settles false claims case with the DOJ and others.(Industry Watch)(Brief Article)
August 1, 2003... HCA, Inc., has agreed to pay the government $631 million in civil penalties and damages arising from false claims the government alleged it submitted to Medicare and other federal health programs. This settlement ends the investigation into the...

Percentage of persons who failed to obtaine needed medical care in the past 12 months due to financial barriers.(Brief Article)(Illustration)
August 1, 2003... Percentage of Persons Who Failed to Obtain Needed Medical Care in the Past 12 Months Due to Financial Barriers Hispanic or Latino 5.3% White 4.4% Black or African American 6.5% Source: DGA Partners...

AHA survey examines hospital investment practices.(Industry Watch)(American Hospital Association)(Brief Article)
August 1, 2003... Over the past 10 years, hospital and health system asset allocation has remained consistent, according to the 2003 Hospital and Multi-Hospital Investment Practices Survey, released in late June by the American Hospital Association (AHA) and CCM...

Quotes of note.(Industry Watch)
August 1, 2003... "We have generally opposed introducing any kind of means testing in Medicare, and this sounds a lot like means testing." --David Certner, director of federal affairs for AARP, commenting on Republican proposals to set an income test for...

Study points to savings from GPOs.(Industry Watch)(healthcare providers can generate significant savings from GPOs)(Brief Article)
August 1, 2003... GPOs generate significant savings for healthcare providers, according to Assessing the Value to Group Purchasing Organizations, a study conducted by The Lewin Group. Lewin researchers reported that GPOs bring about savings for healthcare...

What are your 2003 ANI memories?(HFMA News)(a discussion of the ANI 2003 meeting in Baltimore)
August 1, 2003... In the spirit of this year's theme, "HFMA: It's Personal," ANI 2003 in Baltimore provided participants with the opportunity to make meaningful connections with peers while learning from industry experts in patient financial services, managed...

Hanson receives Morgan Award.(HFMA News)(Allan Hanson wins the 2003 Frederick C. Morgan Individual Achievement Award)(Brief Article)
August 1, 2003... Allan Hanson, FHFMA, is the 2003 recipient of the Frederick C. Morgan Individual Achievement Award. The award is HFMA's highest individual honor. The Frederick C. Morgan Award is presented to a member who has contributed an entire career to...

Coming to a billing office near you: a new Medicare: it was exactly 2:32 a.m. on June 27, 2003, when the gavel of the Speaker of the U.S. House of Representatives, J. Dennis Hastert (R-Ill.), rang down.(Eye On Washington)
August 1, 2003... Weary lobbyists sagged on the hard benches outside the Housechamber, most too tired to either celebrate or commiserate. It was time for congresspersons and staff to go home for the Fourth of July recess. The House, by a slim 216-215 vote, had...

Executive insights: Peter Foulke, executive vice president of Corporate Services, Hoag Hospital, Newport Beach, Calif.(Interview)
August 1, 2003... Peter Foulke, Executive Vice President of Corporate Services, Hoag Hospital, Newport Beach, Calif. Healthcare providers in California battle challenges that are similar to those found throughout the country, but due to the state's high...

Accelerating patient-care improvement in the ED.(Business)(Illustration)
August 1, 2003... AT A GLANCE Quality improvement is always in the best interest of healthcare providers. One hospital examined the patient-care delivery process used in its emergency department to determine ways to improve patient satisfaction while...

5 ways to reduce claims denials.(Patient Financial Services)(hospital financial managers are focusing on enhanced claims denial management)
August 1, 2003... AT A GLANCE As hospitals achieve minimal gains from cost-cutting measures, many financial managers are looking toward enhanced claims denial management as a way to improve their bottom lines. Best practices in this area include dedicating...

Recapturing the earned dollar.(Managed Care)(a discussion of how Truman Medical Centers turned its finances around and increased its number of managed care contracts)(Company Profile)
August 1, 2003... After many years as a provider to primarily uninsured and underinsured patients, Truman Medical Centers in Kansas City, Mo., was confronting critical financial issues. With federal, state, and local sources of revenue drying up, the...

Time for a three-year APC checkup.(Medicare/Medicaid)(a discussion of financial management under the APC system)
August 1, 2003... Financial management under the APC system isn't easy. The dynamic regulatory environment surrounding APCs and the Medicare outpatient PPS requires frequent, substantial changes in coding, billing, and other aspects of the revenue cycle....

Capturing your marketing ROI: hospitals can use their call centers to determine the success of marketing projects aimed at attracting patients to the organization.
August 1, 2003... Hospital CFOs have been challenged for years to find a credible method for measuring return on marketing investments. Because of the amorphous nature of many marketing projects and the numerous variables that go into defining success of these...

Could your financial health be heading for heart break? Costly drug-eluting stents could dramatically alter projected demands for cardiac surgical services.(Feature Story)(Illustration)(Industry Overview)
August 1, 2003... There's no denying how important cardiac services are to many organizations' bottom lines. But a recent clinical advance with the potential to dramatically alter treatment patterns threatens to significantly reduce the ability of cardiac...

Retail 101: ringing up hospital sales: healthcare organizations can generate substantial additional revenue by capitalizing on the product needs that they generate among patients.(Feature Story)
August 1, 2003... Walk into a hospital or clinic that's affiliated with Park Nicollet Health Services, and chances are you can do some shopping as well as receive healthcare services. Based in St. Louis Park, Minn., the integrated healthcare system has stores in...

2003-04 HFMA leadership directory.(Healthcare Financial Management Association)(Directory)
August 1, 2003... HFMA's Board of Directors is composed of 17 members--11 elected directors, two appointed directors, three officers, and the President (HFMNs chief staff officer). The three officers serve one-year terms, and the elected and appointed directors...

Do you have misteaks in your resume? Sure, everybody knows that making a blatant spelling error is a surefire way to sabotage your resume. But there are many other, less obvious mistakes job seekers can make in their resumes that can undermine their job prospects.(Leadership And Management)
August 1, 2003... Ironically, the desire to avoid errors often leads individuals to make one of the biggest mistakes of all. Too often, job seekers ask several people for advice about what to include in their resumes and then try to incorporate everyone's...

Contingency planning for HIPAA transactions: courtesy of HIPAA, virtually every healthcare provider must complete a major systems conversion on or before October 16, 2003.(Digital Perspectives)
August 1, 2003... This prospect is particularly daunting because it involves not just providers, but also every quarter of the U.S. healthcare system. Completing the transition to compliance with the HIPAA transaction standards will require exceptional...

"Off-credit" vs. "off-balance sheet": a notable distinction: the distinction between the terms "off-balance sheet" and "off-credit" is crucial in accurately describing a healthcare institution's credit strength to third-party analysts working for rating agencies, credit-enhancement companies (letter of credit banks and bond insurers), and institutional investors.(Treasury Management)
August 1, 2003... The distinction should be of particular importance to healthcare treasurers, particularly those who work for multihospital systems or hospitals that are part of complex corporate structures. The Healthcare Finance Forum offers the following...

The Six Sigma Book for Healthcare: Improving Outcomes by Reducing Errors.(book review)(Book Review)
August 1, 2003... Robert Barry, Amy C. Murcko, and Clifford E. Brubaker Health Administration Press Chicago, IL, 2002 236 pages; $65 Six Sigma, a systematic method for improving the output of organizations by improving the quality of the systems, arose in...

Contracts for Healthcare Executives, Fourth Edition.(book review)(Book Review)
August 1, 2003... Reed L. Morton Health Administration Press Chicago, IL, 2002 131 pages; $50 At various points in a healthcare executive's career development, contracts will play a vital role, including the initial recruitment process and during hiring...

Calendar.(upcoming health care industry events)(Calendar)
August 1, 2003... CALENDAR Level Seminar 10/27-30 11/17-20 12/8-11 Atlanta Phoenix Chicago Financial Management/ Reimbursement 2 Using...

Nixon Peabody LLP.(People)(Carolyn Jacoby Gabbay joins Nixon Peabody L.L.P.)(Brief Article)
August 1, 2003... Carolyn Jacoby Gabbay, Esq. (Massachusetts Chapter) Ms. Jacoby Gabbay has joined Nixon Peabody LLP, Boston, as a partner, upon the merger of her previous law firm, Hutchins, Wheeler and Dittmar, Boston.

Allianz Life/LifeTrac Network.(People)(hires Shawn D. Schwartz)(Brief Article)
August 1, 2003... Shawn D. Schwartz, FHFMA (Minnesota Chapter) Mr. Schwartz has joined Allianz Life/LifeTrac Network, Minneapolis, as contracting manager. Previously, he was manager, national healthcare consulting practice, RSM McGladrey, Inc., Minneapolis.

Rockdale Hospital & Health Systems, Inc.(People)(names Ann Finlon vice president of finance and CFO)(Brief Article)
August 1, 2003... Anne Finlon, FHFMA (Georgia Chapter) Ms. Finlon has been named vice president, finance, CFO, Rockdale Hospital & Health Systems, Inc., Conyers, Ga. Formerly, she was senior vice president, CFO, Georgia Baptist Health Care System, Inc.,...

Keokuk County Health Center.(People)(appoints Matthew Ives as CFO)(Brief Article)
August 1, 2003... Matthew Ives (Iowa Chapter) Mr. Ives has been appointed CFO, Keokuk County Health Center, Sigourney, Ia. Formerly, he was comptroller/CFO, Naval Hospital Corps School, Great Lakes, Ill.

Corazon Consulting.(People)(promotes Karen L. Hartman to vice president)(Brief Article)
August 1, 2003... Karen L. Hartman (Western Pennsylvania Chapter) Ms. Hartman has been promoted from director, business services, to vice president, Corazon Consulting, Pittsburgh.

Commerce Bank.(People)(hires Emmet Conlon as healthcare team leader)(Brief Article)
August 1, 2003... Emmet Conlon (Metropolitan New York Chapter) Mr. Conlon has been named healthcare team leader, vice president, Commerce Bank, New York. Formerly, he was senior vice president, senior relationship manager, Fleet National Bank, New York.

Audrain Medical Center.(People)(appoints David A. Neuendorf senior vice president and COO)(Brief Article)
August 1, 2003... David A. Neuendorf, FHFMA, CHE (Show-Me of Missouri Chapter) Mr. Neuendorf has been appointed senior vice president, COO, Audrain Medical Center, Mexico, Mo. He had been senior vice president, administration, Audrain Medical Center.

Mercy Jeannette Hospital.(People)(Brief Article)
August 1, 2003... Kevin B. May, FHFMA (Western Pennsylvania Chapter) Mr. May has been appointed executive director of finance, Mercy Jeannette Hospital, Jeannette, Pa. Formerly, he was vice president, finance, UPMC Lee Regional, Johnstown, Pa.

Universal Health Services, Inc.(People)(hires Andrew Littauer)(Brief Article)
August 1, 2003... Andrew Littauer (Virginia Chapter) Mr. Littauer has joined Universal Health Services, Inc., Midlothian, Va., as director, managed care, acute care division. Formerly, he was president, ProviderFirst, Richmond, Va.

Info-X, Inc.(People)(appoints Carl H. Bertrams Jr. as senior vice president of business development)(Brief Article)
August 1, 2003... Carl H. Bertrams, Jr. (First Illinois Chapter) Mr. Bertrams has been appointed senior vice president, business development, Info-X, Inc., Chicago. Previously, he was senior vice president, corporate development, Payerpath.Com, Naperville,...

HMA's River Oaks Hospital.(People)(promotes Brad Sinclair to CFO)(Brief Article)
August 1, 2003... Brad Sinclair (Mississippi Chapter) Mr. Sinclair has been promoted from assistant CFO, HMA's River Oaks Hospital, Jackson, Miss., to CFO, HMA's Riley Memorial Hospital, Meridian, Miss.

Average U.S. hospital discharge costs increase steadily.(Data Trends)
August 1, 2003... The average cost per adjusted discharge for U.S. hospitals increased 25 percent between 1997 and 2002, according to recent data. The question is, Why? This increase probably is due to many factors. The rising demand for inpatient services, the...

Charging and collection concerns: A few weeks ago, the Wall Street Journal ran another story in a series about the "growing public backlash" related to hospital billing and collection practices, especially for uninsured and needy patients. The issue makes good press.(From The President)
August 1, 2003... The issue also is complex. On the one hand, when a hospital or any business provides service, it should expect payment. On the other hand, overly aggressive efforts to collect payments from patients with limited resources appear both harsh and,...