Healthcare Financial Management articles from August 2006

Healthcare Financial Management archives from August 2006

Nation's emergency care in state of emergency, says IOM ...(Institute of Medicine)
August 1, 2006... In June, the Institute of Medicine released a series of three reports on the state of the nation's emergency care system. The reports find that the nation's emergency medical system as a whole is overburdened, underfunded, and highly...

... And Florida, for one, can attest to the problems.(NEWS WATCH)(emergency departments)(Brief article)
August 1, 2006... Although Florida's population grew 25 percent between 1994 and 2004, ED volume increased even more--by 40 percent--promoting many hospitals to expand their EDs and take measures to accommodate greater numbers of uninsured patients and those...

(Inter)national health.(NEWS WATCH)(America)(Brief article)
August 1, 2006... (INTER)NATIONAL HEALTH: Despite spending more than twice as much on health care as the British, older Americans are less healthy. According to an article in JAMA (May 6), Americans age 55 to 64 have higher rates of heart disease, stroke,...

CMS issues memo on "parking" of emergency service patients in hospitals.(NEWS WATCH)(Centers for Medicare and Medicaid Services)(Brief article)
August 1, 2006... In a July 13 memo to state survey agency directors, the Centers for Medicare and Medicaid Services addressed the issue of hospitals preventing emergency medical service staff from transferring patients from their ambulance stretchers to a...

CMS published a notice reminding providers of the temporary hold on Medicare payment for all claims beginning Sept. 22 through Sept. 30, 2006.(Centers for Medicare & Medicaid Services )(Brief article)
August 1, 2006... CMS published a notice reminding providers of the temporary hold on Medicare payment for all claims beginning Sept. 22 through Sept. 30, 2006. The Deficit Reduction Act of 2005 mandated the temporary hold. According to CMS, no interest will be...

CMS has updated the claims processing manual to reflect changes regarding the use of advance beneficiary notices for hospices and comprehensive outpatient rehabilitation facilities.(Centers for Medicare and Medicaid Services)(Brief article)
August 1, 2006... CMS has updated the claims processing manual to reflect changes regarding the use of advance beneficiary notices for hospices and comprehensive outpatient rehabilitation facilities. According to CMS, beginning Sept. 29, 2006, hospices and CORF...

Drug grayed.(nited States. Food and Drug Administration employees review on generic drugs)(Brief article)
August 1, 2006... DRUG GRAYED: The FDA has 200 employees who are reviewing about 975 generic drug applications while 700 employees are reviewing about 150 new-drug applications, according to the AARP Bulletin. Yet it takes twice as long (16.5 months) to review a...

While there are several different versions of the Hospital Issued Notice of Noncoverage, none of the current versions adequately addresses the ability of hospitals to charge their inpatients for certain noncovered services severable from the inpatient stay (i.e., not bundled or integral to payment or treatment for the diagnoses/reasons justifying the stay under Medicare policy).(CMS)(Brief article)
August 1, 2006... While there are several different versions of the Hospital Issued Notice of Noncoverage, none of the current versions adequately addresses the ability of hospitals to charge their inpatients for certain noncovered services severable from the...

Physician care plan oversight is paid under the Medicare physician fee schedule.(Centers for Medicare and Medicaid Services)(Brief article)
August 1, 2006... Physician care plan oversight is paid under the Medicare physician fee schedule. Due to a provision in the current manual, nonphysician practitioners have been prohibited from billing for this service in a home health setting. The current...

CMS has updated the claims processing manual to reflect changes in the Medicare appeals process.(Centers for Medicare and Medicaid Services)(Brief article)
August 1, 2006... CMS has updated the claims processing manual to reflect changes in the Medicare appeals process. Under the new changes, contractors are no longer required to send acknowledgement letters for hearing requests. In addition, the requirement to...

So what's with that review backlog?(NEWS WATCH)(Brief article)
August 1, 2006... SO WHAT'S WITH THAT REVIEW BACKLOG? The FDA has reported that when two generic drugs are introduced in competition with a brand-name drug, prices are cut in half. When nine generics are competing, prices drop an average of 80 percent.

VA, LSU to collaborate on $1.2 billion medical complex in New Orleans.(United States. Department of Veterans Affairs and Louisiana State University collaborates)(Brief article)
August 1, 2006... The Department of Veterans Affairs and Louisiana State University announced in mid-June their agreement to create a shared medical complex on a 37-acre tract of land in downtown New Orleans. Both VA and LSU operated hospitals in New Orleans...

CMS published a final rule (Federal Register, July 6) extending the deadline to Oct. 9, 2006, for hospitals to submit the 2006 emergency Medicare graduate medical education affiliation agreements.(FEDERAL REGISTER)
August 1, 2006... CMS published a final rule (Federal Register, July 6) extending the deadline to Oct. 9, 2006, for hospitals to submit the 2006 emergency Medicare graduate medical education affiliation agreements. The original submission dates for the 2005...

CMS is proposing significant changes to Medicare physician payments for 2007.(FEDERAL REGISTER)(Centers for Medicare and Medicaid Services)(Brief article)
August 1, 2006... CMS is proposing significant changes to Medicare physician payments for 2007. The proposed rule (Federal Register, June 29) includes changes to the physician work relative value units and the method for calculating practice expenses under the...

These numbers speak volumes.(NEWS WATCH)(acute care beds )(Brief article)
August 1, 2006... THESE NUMBERS SPEAK VOLUMES: According to an April report by PricewaterhouseCoopers, the acute care beds in the three Louisiana parishes hardest hit by Hurricane Katrina numbered 4,350; there are now only 2,047.

Five state legislatures tackle issue of health care for immigrants.(State Watch)(Brief article)
August 1, 2006... The emotional issue of immigrants' rights has been the focus of debate in many states as well as Congress. In fact, according to the National Conference of State Legislatures, more than 500 pieces of legislation concerning immigrants have...

Minnesota drug web site now allows consumers to comparison shop.(NEWS WATCH)(Brief article)
August 1, 2006... One of the first states in the nation to create a prescription drug web site, Minnesota has added a new feature that will allow consumers to comparison shop for prescription drugs. The new feature, BxPrice Compare, provides price...

Does anyone even remember the $10 copay?(NEWS WATCH)(Brief article)(Statistical data)
August 1, 2006... DOES ANYONE EVEN REMEMBER THE $10 COPAY? According to a Hewitt Associates database of nearly 160 large companies, the number of companies offering $20 office copays continues to increase from 16% in 2004 and 25% in 2005 to 29% in 2006, while...

Profitability at highest levels since 1998 for U.S. not-for-profit hospitals.(Quick Hits: Top News Stories of the Month)(Brief article)
August 1, 2006... U.S. not-for-profit hospitals and healthcare systems exceeded expectations and showed significant improvement in profitability in 2005, according to Fitch Ratings' 2006 Median Ratios for Nonprofit Hospitals and Health Care Systems....

CMS proposes changes to physician fee schedule methodology.(Quick Hits: Top News Stories of the Month)(Centers for Medicare & Medicaid Services )(Brief article)
August 1, 2006... CMS has proposed to increase the work relative value units assigned to the Medicare evaluation and management codes for more than 400 services. The work component for RVUs associated with an intermediate office visit--the most commonly billed...

Grassley, Baucus ask CMS to implement changes to IPPS in FY08.(Quick Hits: Top News Stories of the Month)(Centers for Medicare and Medicaid Services)(inpatient prospective payment system )(Brief article)
August 1, 2006... In a letter to CMS Administrator Mark McClellan, Sens. Chuck Grassley, R-Iowa, and Max Baucus, D-Mont., chairman and ranking member of the Senate Committee on Finance, respectively, asked CMS to implement the cost-based weights and the...

Medicaid beneficiaries file lawsuit over proof-of-citizenship requirement.(case for class action lawsuit)(Brief article)
August 1, 2006... Nine individuals have filed a class action lawsuit against Health and Human Services Secretary Michael Leavitt, alleging that a law requiring Medicaid beneficiaries to demonstrate proof of citizenship violates the Fifth Amendment guarantee of...

HSAs pose financial risk for hospitals, says Moody's.(Quick Hits: Top News Stories of the Month)
August 1, 2006... Moody's Investors Service cautions that the increasing number of health savings accounts may present risks for hospitals. Consumers who have HSAs may skimp on their elective medical care, especially preventive services, which may result in...

CMS to offer Medicare consumer-directed health plans.(Quick Hits: Top News Stories of the Month)(Centers for Medicare and Medicaid Services)(Brief article)
August 1, 2006... CMS has announced it will provide Medicare beneficiaries with consumer-directed health plans in the Medicare Advantage programs in 2007. In addition to new medical savings account coverage, beneficiaries will have the option of getting coverage...

Born to ride.(Member Spotlight)(Brief article)
August 1, 2006... For HFMA member Ellen Swan, jumping horses is serious business. A childhood love of jumping horses has taken Ellen Swan as far away as Germany, where she flew earlier this year to select two of the three horses she owns. Swan raises...

Not-for-Profit Hospitals: Balancing Business and Benefit.
August 1, 2006... Not-for-Profit Hospitals: Balancing Business and Benefit Frontiers of Health Services Management American College of Healthcare Executives Summer 2006, Volume 22, Number 4 This issue of the American College of Healthcare Executive's...

Sea snail venom could treat chronic pain.(Strange, but True)(Prialt, a painkiller intoduced prepared using the venom of sea snail)(Brief article)
August 1, 2006... A new drug based on the deadly venom of a sea snail could offer relief to chronic pain sufferers in the United States, Britain, and soon, other European markets. The drug, known as Prialt, is a synthetic form of the venom that a South...

Putting the Squeeze on Big-Ticket Purchases.(20 Years Ago in hfm)(Hawaiian Flour Mills Inc.)(Brief article)
August 1, 2006... hfm's August 1986 cover story, "CFOs Put the Squeeze on the Hospital's Big Ticket Purchases," suggested that hospital CFOs could control costs and protect the bottom line of their organizations by taking an active role in assessing equipment...

Study: disruptive behavior in the OR can affect patient outcomes.(From the Headlines)
August 1, 2006... Disruptive behavior between surgeons, nurses, and anesthesiologists occurs frequently in hospital operating rooms--and it can negatively affect patient outcomes, according to a study by VHA Inc. Sixty-eight percent of survey respondents...

Site seeing.(ETCETERA)
August 1, 2006... When was the last time you visited www.hfma.org? You could be missing out on some of the latest additions to HFMA's web site, including: Comment Letter on FY07 Inpatient PPS Proposed Rule. Read HFMA's letter to the Centers for Medicare and...

Overheard.(ETCETERA)
August 1, 2006... "States must afford applicants or current enrollees a reasonable opportunity to secure the required documents. If a beneficiary is having difficulty, we have instructed states to assist the beneficiary." --Mary Kahn, spokesperson for the...

One way to combat childhood obesity: heavier toys.(ETCETERA)(Brief article)
August 1, 2006... Children who play with heavier toys burn more calories per hour than children who play with unweighted toys, researchers at Indiana State University discovered-and it's a finding that could be used to help combat childhood obesity. The...

Oil and water: members of the C-suite don't always come together like a perfect mix of ingredients.(Courage IN LEADERSHIP)(chief officers)
August 1, 2006... When I talk about courage in leadership, sometimes I am asked, "How hard should I push for my issues?" I believe that the keys to a successful leadership team are open communication and a unified focus on what's best for the patients and...

Roger Goodman: assessing hospital creditworthiness.(hfm Q & A)(Interview)
August 1, 2006... Roger Goodman is assistant vice president, healthcare ratings team and higher education and other not-for-profit ratings team, Public Finance Group, Moody's Investors Service, New York. He joined Moody's higher education and other...

A noble profession: what is the purpose of healthcare financial management?(FROM THE EDITOR)(Editorial)
August 1, 2006... On the last evening of HFMA's recent Annual National Institute, I heard as good an answer to that question as I am ever likely to hear. Nothing I would write in this column would be as eloquent, so I will turn over the rest of the column to...

Attendees find ideas, tools, and results at ANI 2006.(HFMA NEWS)
August 1, 2006... HFMA gave healthcare finance professionals the ideas and tools they need to help their organizations succeed and the inspiration to face tough challenges in the industry during HFMA's 2006 Annual National Institute. Held June 17-21 in...

Oklahoma Chapter wins Shelton Award.(HFMA NEWS)
August 1, 2006... HFMA's Oklahoma Chapter won the Association's most prestigious chapter award, the Robert M. Shelton Award for Sustained Excellence, at HFMA's 2006 Annual National Institute in Orlando. The Shelton Award is given in recognition of five years...

A time to celebrate--and to rejuvenate.(HFMA NEWS)
August 1, 2006... ANI 2006 was a time for healthcare finance professionals to rekindle their passion for the work they do, to reconnect with friends new and old, and to realize new opportunities to learn and grow, whether personally or professionally. It was...

The outlook for capital access and spending executive summary.(Financing the Future II, Report 6)
August 1, 2006... The first Financing the Future series, published from November 2003 through September 2004, brought together key stakeholders to share knowledge about and produce solid empirical evidence of healthcare capital needs, availability, and factors...

'Healing cannot exist without caring'.(Johnson City Medical Center)(Interview)
August 1, 2006... The second hospital built in Tennessee, Johnson City Medical Center (known then as Memorial Hospital), opened on May 10,1911, with 10 beds and a staff of three nurses. Small though it was, it meant a great deal to the area residents, who no...

Is your leasing arrangement paying off?(BUSINESS)(proper planning of hospital equipment leasing)
August 1, 2006... Are your hospital's equipment leases making a positive contribution to the bottom line? They should. When planning equipment leasing arrangements, healthcare providers need to ensure that the agreed-upon payments are consistent with fair...

DRG do--over the need for service--line strategy.(MEDICARE/MEDICAID)(Diagnosis Related Groups)
August 1, 2006... It's no secret: We are within months of another iteration of prospective payment. And the changes that are to come will likely require hospitals and health systems to seriously reassess their service-line locus. The reconfiguration by the...

Playing by the rules: what you should know about revisions to Form 990: IRS Form 990 has undergone the most extensive revisions in recent history--and tax-exempt hospitals should take note to avoid potential scrutiny.(United States. Internal Revenue Service)(Cover story)
August 1, 2006... Not many administrators of not-for-profit hospitals would be excited to receive notification from the IRS that the agency has questions about their organization's tax exemption. Making sure your organization has correctly completed the IRS Form...

Redefining value in health care: a new imperative: does spending more mean better care? Not necessarily.(COMMENTARY)
August 1, 2006... Hospitals and health systems throughout the United States are trying to maintain their balance against buffeting financial pressures, with one eye on rising clinical costs and the other on shrinking payments. CFOs and other leaders live daily...

Advance estimates: 4 approaches to price transparency in health care.(FEATURE STORY)
August 1, 2006... Consumer-directed health care has made it inescapable. Healthcare providers must be able to let non-ED patients know, before they receive healthcare services, their expected out-of-pocket costs for those services. Four providers offer insights...

Developing and implementing a comprehensive debt management policy: given the complexities of today's financing options, having a well-defined debt management policy is no longer just a matter of choice for tax-exempt hospitals--it's a necessity.(FEATURE STORY)
August 1, 2006... How do you position your organization to achieve the lowest possible cost of capital within prudent risk parameters? Gone are the years when tax-exempt hospitals and health systems could obtain lowest-cost capital simply by issuing "plain...

Tax-exempt private placements: a new opportunity for not-for-profit providers: with the window narrowing for traditional financing options for some hospitals, many not-for-profit hospitals are turning to the private markets to seek tax-exempt loans.(FEATURE STORY)
August 1, 2006... Although for-profit hospital systems have long relied on a wide variety of financing alternatives, many not-for-profits have only recently begun seeking a broader range of financing options. The rising popularity of tax-exempt private...

Missing elements in the healthcare debate: for many years, the country has been engaged in heated debates over how to contain rapidly escalating healthcare costs while simultaneously providing access to health care for the uninsured.(FEATURE STORY)
August 1, 2006... On the surface, these goals would appear to be incompatible, but both can be achieved with a little creative thinking. That creative thinking must address five rather contentious issues involving cross-subsidization that no one has wanted to...

Using a business practice model to control product line costs: at one hospital, declining profit for a product line led to a new business model.(FEATURE STORY)(Total Joint Replacement Surgery)
August 1, 2006... In spring 2005, at Avera McKennan Hospital and University Health System in Sioux Falls, S.D., it became clear that the hospital's high-volume total joint replacement orthopedic surgery practice, which had been kept profitable for many years...

A sum greater than its parts: a lesson in clinical-financial integration: a campaign to integrate clinical and financial processes at St. Vincent's Medical Center, Bridgeport, Conn., reduced accounts receivable days from more than 100 days in 2001 to about 40 days in 2005.(FEATURE STORY)
August 1, 2006... Two worlds--clinical and financial--have long coexisted within the walls of the nation's healthcare facilities. Yet despite their close proximity, these two worlds traditionally have had little direct communication with each other, tending...

Attacking underpayments to improve payer net margin.(hfm TOOLBOX)
August 1, 2006... As we move deeper into the 21st century, it is becoming easier to make quick, painless, accurate payments with the swipe of a card for just about any service or product. If only collecting accurate payment from third-party payers were as easy....

2006-07 HFMA leadership directory.(Directory)
August 1, 2006... 2006-07 National Board of Directors CHAIRMAN Joseph J. Fifer, FHFMA, CPA Vice President of Hospital Finance Spectrum Health 100 Michigan Street N.E., MC 05 Grand Rapids, MI 49503 Phone: (616) 391-2754 ...

2006-07 Regional Executives.(Directory)
August 1, 2006... Region 1 Diana J. McLaughlin, CHFP Controller Western Maine Health Care 181 Main Street Norway, ME 04268-5664 Phone: (207) 743-1562, ext. 312 mclaughlind@wmhcc.org Region 2 Melvin M. Dyster, FHFMA Director, Revenue Analysis...

2006-07 National Advisory Councils.(Directory)
August 1, 2006... 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 Terry Sanchez Allison, FHFMA,...

2006-07 Chapter Presidents.(Directory)
August 1, 2006... Region 1 Connecticut Chapter Louis D'Auria, Jr. Contract Administrator Community Health Network of Connecticut 11 Fairfield Boulevard Wallingford, CT 06492-1828 Phone: (203) 949-4019 ldauria@chnct.org Maine Chapter Joseph W. Wood,...

Golf and the art of hospital management: recently I took up playing golf again after a 35-year dry spell.(LEADERSHIP AND MANAGEMENT)
August 1, 2006... It's been fun even though I'm really just a novice player. Thankfully, I was fortunate to fall in with a group of good players who have helped me relearn the game. Just as I was beginning to play golf again, I began serving as an interim...

Don't underestimate the people costs of EHR; most healthcare organizations across the country are considering selecting, negotiating, or implementing an electronic health record, or are in some phase of a major EHR commitment.(DIGITAL PERSPECTIVES)
August 1, 2006... There are many additional costs to EHRs, besides the software and hardware, that are not necessarily obvious. As budgets are prepared and funds are being allocated for a significant initiative such as implementing integrated clinical systems...

Why musculoskeletal business development? Musculoskeletal conditions are a leading cause of disability in the United States, and prevalence is expected to continue to increase as the population ages.(NEW REVENUE GROWTH)(WestCare Health System)(TriHealth)(UMass Memorial Medical Center)(Company overview)
August 1, 2006... Musculoskeletal programs can reduce the burden of musculoskeletal disease by improving the quality of care and treatment options for people with conditions affecting their bones, muscles, tendons, joints, cartilage, or other connective tissue....

Calendar.(Calendar)
August 1, 2006... NATIONAL August 14-17 Six seminars are offered in Coeur d'Alene Fall Seminars covering the topic areas of financial Coeur d'Alene, Idaho management, revenue cycle, managed care operations...

Jeffrey G. Blumengold, FHFMA, CPA (Metropolitan New York Chapter).(appointment of Jeffrey G. Blumengold)(Fellow of the Healthcare Financial Management Association)(Brief article)
August 1, 2006... Mr. Blumengold has been named partner and national leader, healthcare forensic and dispute services, Deloitte Financial Advisory Services, LLP, New York. He had been partner-in-charge, healthcare services, Weiser, LLP, New York.

Bonnie S. Cassidy, MPA, RHIA, FAHIMA, FHIMSS (Georgia Chapter).(PEOPLE)
August 1, 2006... Ms. Cassidy has joined Cherry, Bekaert & Holland, LLP, Atlanta, as director of health information management consulting services. She had been president, Cassidy & Associates, Atlanta.

Mark Cronin (Rochester Regional Chapter).(PEOPLE)
August 1, 2006... Mr. Cronin has been named regional vice president, American Cancer Society, Rochester, N.Y. He had been vice president, provider relations, Rochester Individual Practice Association, Rochester.

Sara J. Herron, RN, MPH, RHIT (North Carolina Chapter).(PEOPLE)
August 1, 2006... Ms. Herron has been promoted from director, corporate compliance, to assistant vice president, corporate compliance, Carolinas HealthCare System, Charlotte, N.C.

Patricia Reupke (Lone Star Chapter).(appointment of Patricia Reupke)(Brief article)
August 1, 2006... Ms. Reupke has been promoted to senior vice president, marketing, Accuro Healthcare Solutions, Inc., Dallas. She had been vice president, marketing, Innovative Managed Care Systems, Ltd., a subsidiary of Aceuro.

William R. Isemann, FHFMA (Virginia Chapter).(Fellow of the Healthcare Financial Management Association)(Brief article)
August 1, 2006... Mr. Isemann has been appointed executive vice president and CFO, KidsPeace, The National Center for Kids Overcoming Crisis, New York. Previously, he was executive vice president, Danville Regional Health System, Danville, Va.

Andrew Natkin (Metropolitan New York Chapter).(appointment of Andrew Natkin)(Brief article)
August 1, 2006... Mr. Natkin has joined McBee Associates, Inc., and HCE LLC, New York, as a business development executive. He had been director of business analysis, Multiplan, Inc., New York.

Denise Smith, FHFMA, CPA (North Carolina Chapter).(appointment of Denise Smith)(Gardner-Webb University)(Brief article)
August 1, 2006... Ms. Smith has joined Gardner-Webb University, Boiling Springs, N.C., as professor of healthcare management, accounting, and business. Formerly, she was CFO, Good Hope Hospital, Erwin, N.C.

Pamela Wilbur (Minnesota Chapter).(appointment of Pamela Wilbur)(Brief article)
August 1, 2006... Ms. Wilbur has joined Emdeon Business Services, Nashville, Tenn., as an account executive. Previously, she was director of business development, Array Services Group, Sauk Rapids, Minn.

Michael Goebel (Colorado Chapter).(Littleton Adventist Hospital appointment of Michael Goebel)(Brief article)
August 1, 2006... Mr. Goebel has been named COO, Littleton Adventist Hospital, Littleton, Colo. He had been vice president of finance, Regional West Medical Center, Scottsbluff, Neb. To have your professional announcement published in "People," contact...

Analysis reveals regional variation in financial and operating performance.(DATA TRENDS)
August 1, 2006... Analysis of core, first-quarter 2006 financial and operational indicators for hospitals across the country highlights a wide variation in performance by region. An analysis of quarterly data for January-March 2006 submitted by 550 hospitals...

Where price transparency, pay for performance, and community benefit converge: what do price transparency, pay for performance, discount policies for the uninsured, community benefit accounting, and tax exemption have in common (other than they all seem to result in more cost or lower payment)?(FROM THE PRESIDENT)
August 1, 2006... These concepts, and the concerns they generate, converge in the notion that healthcare organizations (especially not-for-profit hospitals) are community trusts. I don't mean trust in the legal sense, but in the sense that these...