Healthcare Financial Management articles from August 2005

Healthcare Financial Management archives from August 2005

Moratorium ends, but CMS keeps specialty hospitals on hold.(Centers for Medicare and Medicaid Services.)
August 1, 2005... Although the specialty hospital moratorium of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 ended June 8, the Centers for Medicare and Medic, aid Services says no new specialty hospital enrollment applications will...

Governors take Medicaid recommendations to Congress.(POLICY WATCH)
August 1, 2005... The National Governors Association's bipartisan report is the beginning of the process of Medicaid reform, not the end, said NGA chairman Mark Warner (D Va.), as he and NGA vice chairman Mike Huckabee (B-Ark.) met with the Senate Finance and...

RHC/FQHC payment process monitoring needed.(Rural Health Clininc and Federally Qualified Health Center.)(Brief Article)
August 1, 2005... Rural health clinic and federally qualified health center providers should note three significant areas of concern the GAO had with some states' new RHC/FQHC Medicaid payment systems. The payment system changes reviewed occurred primarily as a...

A new Justice Department opinion sharply limits the government's ability to prosecute employees of a covered entity for violating the law that protects the privacy of health information in medical records.
August 1, 2005... A new Justice Department opinion sharply limits the government's ability to prosecute employees of a covered entity for violating the law that protects the privacy of health information in medical records. To read the DOJ ruling on prosecution...

The Department of Health and Human Services has announced the first Medicaid waiver for long-term home care services, the Vermont Long-Term Care Plan-which will establish a triage system to determine the kind of services the Medicaid program would provide to beneficiaries at risk of institutionalization.(Public Notice)
August 1, 2005... The Department of Health and Human Services has announced the first Medicaid waiver for long-term home care services, the Vermont Long-Term Care Plan-which will establish a triage system to determine the kind of services the Medicaid program...

The OIG has posted its semiannual report to Congress on activities completed for the first six months of FY05.
August 1, 2005... The OIG has posted its semiannual report to Congress on activities completed for the first six months of FY05. The OIG reported $17 billion in savings and expected recoveries from OIG investigations, evaluations, and audit reports completed...

IRFs face enforcement of 2004 criteria.(inpatient rehabilitation facilities.)(Brief Article)
August 1, 2005... CMS announced June 21 that it will proceed with implementing the classification criteria for inpatient rehabilitation facilities adopted in a May 7, 2004, final rule (Federal Register, June 24, pp. 36640-36641). The rule provided for a...

The OIG recently issued three advisory opinions.(Brief Article)
August 1, 2005... The OIG recently issued three advisory opinions. In advisory opinion 05-08, the OIG concluded that the proposed arrangement between a laboratory that would provide blood supplies at no charge to certain physicians and would pay them a $3- to...

2005-06 long-term care PPS instructions published.(Prospective payment systems.)(Brief Article)
August 1, 2005... CMS has published the implementing transmittal for the update of the long term care hospital PPS rates for the payment year that began July 1. This revision to the CMS claims manual focuses on the financial aspects of the LTCH PPS and...

Greater scrutiny ahead for consecutive inpatient stays.(POLICY WATCH)(Brief Article)
August 1, 2005... CMS will direct intermediaries to step up data analysis efforts regarding consecutive Medicare inpatient stays involving acute care hospitals, rehabilitation units, psychiatric units, and hospital swing beds, and perform medical reviews if...

State budgets: record revenue, so what's the problem? State revenue grew at a rate of 11.7 percent in the third quarter of FY05, according to the Rockefeller Institute of Government.(STATE POLICY WATCH)
August 1, 2005... The states now have had six straight quarters of real growth after experiencing nine straight quarters of decline. The nation's economy has seen sustained growth, and states that rely on personal income tax for revenue are experiencing stronger...

ANI reminds us of the business of caring: the ANI held in June in Las Vegas was a memorable occasion for many reasons.(FROM THE CHAIRMAN)(Column)
August 1, 2005... Not only was I installed as chairman, but I also had the opportunity to share this event with my family, some of my closest friends, and many of the talented members who make HFMA a great organization. When I chose "The Business of Caring"...

Higher prices--not waiting lists--explain why U.S. healthcare spending is so high.(INDUSTRY WATCH)
August 1, 2005... Higher prices for health services such as prescription drugs, hospital stays, and doctor visits not malpractice claims or greater access to health care services--is the major reason why Americans spend far more for health care than citizens in...

Study: obesity related health spending jumps.(INDUSTRY WATCH)
August 1, 2005... The obesity epidemic is adding billions of dollars to the U.S. healthcare tab by increasing the prevalence of treated disease: Between 1987 and 2002, the share of private health spending attributable to obesity soared more than tenfold, from...

Families USA study: cost of treating the uninsured increases insurance premiums.(INDUSTRY WATCH)
August 1, 2005... In 2005, premium costs for family health insurance coverage provided by private employers will include an extra $922 in premiums due to the cost of care for the uninsured; premiums for individual coverage will cost an extra $341, according to a...

Despite strong revenue, states still face fiscal challenges.(INDUSTRY WATCH)(Brief Article)
August 1, 2005... While the revenue shortfalls facing states in recent years have subsided and short-run forecasts are sunnier, most states still face budgetary challenges driven by a backlog of expenditure demands and Medicaid, according" to the National...

AMGA awarded CMS Medicare demonstration project.(INDUSTRY WATCH)
August 1, 2005... The American Medical Group Association announced July 7 that the Centers for Medicare and Medicaid Services has selected AMGA and several partners for a demonstration project aimed at testing approaches for transforming how physicians and...

Stanford study: gap persists between best care knowledge and use.(INDUSTRY WATCH)
August 1, 2005... The gap between the best possible care and the health care that is actually delivered in the United States remains large despite an increased focus on evidence based practice guidelines, according to a report in the June 27 issue of the...

2004 healthcare spending rose 8 percent.(INDUSTRY WATCH)
August 1, 2005... Healthcare spending for those in the United States with private health insurance increased by 8.2 percent in 2004, about the same as the growth in 2003 and almost four times the growth in wages, according to a study by the Center for Studying...

New Medicare drug law puts lowest-income elderly at risk, says report.(INDUSTRY WATCH)
August 1, 2005... A key provision of the Medicare Prescription Drug, Improvement, and Modernization Act will cause serious--and perhaps irreparable--harm to many of the lowest-income elderly and people with disabilities, according to a special report issued July...

Quotes of note.(quotations on genetic privacy bill and Medicare prescription drug bill)(Brief Article)
August 1, 2005... "It is absolutely essential that in this time of fantastic scientific advances and discovery, [genetic] information be used for the purpose of preventing, treating, and healing diseases, and not as a basis for discrimination." --Sen....

Initiative hailed for promoting greater GPO transparency.(Group purchasing organizations.)(Brief Article)
August 1, 2005... On July 12, a bipartisan group of U.S. senators and the nation's largest hospital associations expressed support for an industry-led initiative that encourages healthcare group purchasing organizations to abide by the highest ethical standards...

Leaving Las Vegas.(HFMA NEWS)(Brief Article)
August 1, 2005... Those attending HFMA's 2005 Annual National Institute in Las Vegas discovered "Ideas. Tools. Results." from expert speakers, vendors, and each other. ANI offered practical solutions for address ing the industry's top challenges in patient...

Tennessee chapter receives Shelton Award.(Robert M. Shehon Award.)(Brief Article)
August 1, 2005... HFMA's Robert M. Shehon Award for Sustained Excellence was presented to the Tennessee Chapter on June 27 during the 52nd Annual Chapter Presidents' Dinner and at HFMA's Annual National Institute in Las Vegas. The Shelton Award is given in...

Experience more ANI memories online.(Annual National Institute.)(Brief Article)
August 1, 2005... With so many sessions, exhibits, and social activities, no one can possibly take in everything that happens at HFMA's Annual National Institute. Find out what you missed at this year's convention in Las Vegas by viewing HFMA's blog at...

HFMA offers payment resources.(Healthcare Financial Management Association.)(Brief Article)
August 1, 2005... The following payment resources are available free to HFMA members. Nonmembers can purchase individual copies for $15 by contacting HFMA's Member Service Center at (800) 252-HFMA, ext. 2. * Fact Sheet: Medicare Proposed FY06 Skilled Nursing...

A taxing question for not-for-profits: Congress is continuing to question whether not-for-profit hospitals are providing sufficient charity care to justify their tax-exempt status. But the question, framed too narrowly, misses most of the reasons not-for-profit hospitals merit tax exemption in the first place.(EYE ON WASHINGTON)
August 1, 2005... Concerned about lapses in governance, fund raising, and other practices, the Senate Finance Committee, House Energy and Commerce Committee, and House Ways and Means Committee have held hearings over the past year, and plan for more, about the...

Strategies for effective capital structure management: executive summary.(Financing the Future II, Report 2)
August 1, 2005... HFMA's Financing the Future series began the process of highlighting strategies hospitals and other healthcare providers could use to improve access to capital. HFMA's Financing the Future II project continues this process. By providing...

'What would Ben do?' "So much for industry, my friends, and attention to one's own business; but to these we must add frugality if we would make our industry more certainly successful.".(Benjamin Franklin.)(Interview)
August 1, 2005... When Benjamin Franklin penned those words in 1758, the nation's first hospital--Pennsylvania Hospital--was already seven years old, the University of Pennsylvania (then called the College of Philadelphia) had graduated its first class, and the...

Healthcare facility valuation don't forget the physician factor.(BUSINESS)
August 1, 2005... Your hospital plans a partnership buy-in that involves its ambulatory surgery center. One of the first things you need to do is have an analyst perform a valuation to determine the facility's fair market value. Sound simple? Keep in mind that...

Using technology to improve denials management.(REVENUE CYCLE)
August 1, 2005... How much revenue are you losing to payment denials? Chances are, more than you think, Because payment denials are not easily detected or managed, they often go underreported. Estimates of the Advisory Board Company put costs of denials for...

Clear as glass: transparent financial reporting: if your financial statements aren't transparent, you may be setting your organization up for scrutiny.(Cover Story)
August 1, 2005... Financial executives at many not-for-profit hospitals and health systems are feeling like a bull's eye at target practice these days. Increased scrutiny of financial reports and requests for information are coming from all angles--the IRS,...

Bondholder disclosure and Sarbanes-Oxley; how one medical center aligned best practices: by adopting some sections of Sarbanes-Oxley as best practices in accountability and compliance, Bush University Medical Center achieved its goal of enhancing bondholder disclosure.(Cover Story)
August 1, 2005... Timely and accurate financial reporting has been highlighted as a key issue for 2005 ("40 Things to Think About in 2005," hfm, February). Given the impact of the Sarbanes-Oxley Act of 2002 and the need for enhanced disclosure to stakeholders,...

Distress detectors measures for predicting financial trouble in hospitals: early-warning systems that anticipate financial distress can provide management with powerful tools to help identify and rectify problems before they reach a crisis.(Cover Story)
August 1, 2005... How well do you know the financial condition of your organization? Today, more than ever before, users of a hospital's financial information whether they be investors, management, board members, community leaders, or donors need to be...

What patients want: the foundation of strategic management: do your strategic plans adequately account for patient concerns? Strategic management provides a framework for developing such plans.(Cover Story)
August 1, 2005... What value is there in a hospital's strategic plan if realizing it will drive away patients? You might answer, "That result should never occur because, obviously, the strategic plan should take into account patient interests and concerns."...

Thinking inside the (lock)box: using banking technology to improve the revenue cycle: bank on this: medical practices are ideal for pioneering programs in paperless data and financial management.(FEATURE STORY)
August 1, 2005... Ongoing industrywide challenges in the management of healthcare information are acute; some providers, insurers, and practice managers find them overwhelming. In fact, operational difficulties in processing and man aging medical records and...

Managing medical necessity denials.(hfma roundtable)(Panel Discussion)
August 1, 2005... Having to meet medical necessity requirements is a fact of life for hospitals that receive Medicare payments. Given that there are more than 176,000 pairs of ICD-9 diagnosis codes and HCPCS/CPT codes supporting the medical necessity of lab...

Evaluating internal financial reporting controls.(hfm TOOLBOX)
August 1, 2005... INTERNAL CONTROL EVALUATION TEMPLATE (A) Business unit Outpatient Surgery Business unit manager [Name] Process Admission of patients to outpatient ...

2005-06 national board of directors.(2005-06 HFMA Leadership Directory)(Directory)
August 1, 2005... CHAIRMAN Richard Rodriguez, FHFMA Assistant Administrator, University Hospital University Health System 4502 Medical Drive San Antonio, TX 78229 4402 Phone: (210) 358-2217 Richard Rodriguez@uhstx.com ...

2005-06 regional executives.(2005-06 HFMA Leadership Directory)(Directory)
August 1, 2005... Region 1 Mary Kay Boudewyns, FHFMA Vice President Revenue Management Dartmouth-Hitchcock Medical Center 1 Medical Center Drive Lebanon, NH 03756-1000 Phone: (603) 650-3715 marykay.boudewyns@hitchcock.org ...

2005-06 national advisory councils.(2005-06 HFMA Leadership Directory)(Directory)
August 1, 2005... Thomas S. Albanesi, Jr., FHFMA, CPA Vice President, Corporate Finance West Pennsylvania Allegheny Health System 2 Allegheny Center, Floor 11 Pittsburgh, PA 15212-5402 Phone: (412) 330-6083 talbanes@wpahs.org Ira...

2005-06 chapter presidents.(2005-06 HFMA Leadership Directory)(Directory)
August 1, 2005... Region 1 Connecticut Chapter Mary Lou Sanders Health Care Advocate Consultant 322 Glen Street New Britain, CT 06051-3406 Phone: (860) 224-2332 mljesanders@snet.net Maine Chapter Vaughn G. Clark ...

High-middle-low performer conversations: how well do you re-recruit your top performers?(LEADERSHIP AND MANAGEMENT)
August 1, 2005... Many healthcare organization leaders are spending 80 percent of their time on the 5 percent of employees who are not meeting expectations. Although we wish the low performers would leave our organizations, they are tenacious. They know from...

Pay for performance: a win for the NHIN? During a recent conversation with a healthcare CIO, the subject of the National Health Information Network and Regional Health Information Organizations came up.(DIGITAL PERSPECTIVES)
August 1, 2005... My friend expressed skepticism that either would ever become a reality. It seems that many healthcare IT leaders at least the ones with more than a little gray hair recall the passing of the Community Health Information Networks of the mid-...

Strategic alliances and joint ventures why make when you can buy? For-profit companies--especially other than healthcare--recognize strategic alliances and joint ventures as important approaches to supplement internal capabilities and progress quickly in product and market development or cost control.(NEW REVENUE GROWTH)
August 1, 2005... In the for-profit world, it is standard practice to explicitly consider whether corporate goals can best be achieved through a "make" or "buy" strategy or some combination of the two. However, in the not-for-profit healthcare sector,...

Calendar.(Calendar)
August 1, 2005... Fall 2005 Seminars Level Seminar Sept. 26-29 Oct. 17-20 Seattle Cambridge, Mass. ...

Stephen B. McPherson (Connecticut Chapter).(PEOPLE)(MasoniCare)(Brief Article)
August 1, 2005... Mr. McPherson will become president and CEO, MasoniCare, Wallingtford, Conn., on October 1. Currently, he is executive vice president and COO, MasoniCare.

Cindy M. Hoyt (Northeast Ohio Chapter).(PEOPLE)(Wadsworth Rittman Hospital)(Brief Article)
August 1, 2005... Ms. Hoyt has been named director, patient financial services, Wadsworth Rittman Hospital, Wadsworth, Ohio. Formerly, she was patient accounting manager, Union Hospital, Dover, Ohio.

David T. Kilmer, CHFP, CPA (Northeast Ohio Chapter).(PEOPLE)(Brief Article)
August 1, 2005... Mr. Kilmer has been appointed director of finance, Wayne Memorial Hospital. Goldsboro. N.C. He had been director, contracting and reimbursement, Robinson Memorial Hospital, Ravenna, Ohio.

Ryan J. Fischer (Heart of America Chapter).(PEOPLE)(Children's Mercy Hospital and Clinics )(Brief Article)
August 1, 2005... Mr. Fischer has been appointed managed care director, Children's Mercy Hospital and Clinics, Kansas City, Mo. He had been corporate managed care manager, Truman Medical Centers, Inc., Kansas City.

Peggi-Ann Rufener, CCS, CCS-P (Washington/Alaska Chapter).(PEOPLE)(Brief Article)
August 1, 2005... Ms. Rufener has been named director, business services MMG, MultiCare Health System, Tacoma, Wash. Previously, she was senior manager, health care consulting group, Moss Adams, LLP, Seattle.

Jim Chatman, FHFMA, CPA (North Carolina Chapter).(PEOPLE)(Brief Article)
August 1, 2005... Mr. Chatman has joined Maria Parham Medical Center, Henderson, N.C., as vice president, finance, CFO. Formerly, he was CFO, Stokes-Reynolds Memorial Hospital/Hoots Memorial Hospital, Inc., Winston Salem, N.C.

East is east and wwest is west ... and HFMA brings them together.(PEOPLE)
August 1, 2005... Why did you join HFMA? For many HFMA members, the decision to join the Association is a career decision--a way to open doors of opportunity to learn and grow in the field of healthcare finance, and a way to make far-reaching professional...

Supply costs for U.S. hospitals show substantial three-year rise.(DATA TRENDS)
August 1, 2005... Spending for supplies represents about 18 percent of total operating expenses for U.S. hospitals, on average. According to a recent analysis, the cost of supplies increased by 23 percent between 2002 and 2004. Data provided by 550...

Transparency and accountability: in June, the Nonprofit Sector on Governance urged Congress to increase resources for more vigorous enforcement of federal and state laws governing charities, including 501(c)3 provider organizations (www.nonprofitpanel.org/final).(FROM THE PRESIDENT)
August 1, 2005... They also recommended changes to annual informational returns filed by charitable organizations to improve accuracy, completeness, and timeliness of information provided. These and many other recommendations were aimed at a perceived lack of...