Healthcare Financial Management articles from August 2007

Healthcare Financial Management archives from August 2007

Reauthorizing SCHIP--and funding it--is on congressional agenda ...(State Children's Health Insurance Program)(State Children's Health Insurance Program )
August 1, 2007... As of mid-July, the Senate Finance and House Energy and Commerce committees were expected to begin work reauthorizing the State Children's Health Insurance Program (SCHIP). The program's original 10-year authorization period expires on Sept....

More CO + less pay = fewer [R.sub.x].(NEWS WATCH)(Brief article)
August 1, 2007... MORE CO + LESS PAY = FEWER [R.sub.x]: An increase of $20 in drug copays reduces the proportion of employees with rheumatoid arthritis taking at least one disease-modifying anti-rheumatic agent by 35% and those with at least one...

... And the federal tobacco tax could hold the answer to the funding question.(NEWS WATCH)(Brief article)
August 1, 2007... One source for SCHIP funding could come from increases in the federal tobacco tax--perhaps as much as 60 cents per pack of cigarettes (the rate is currently 39 cents per pack). According to The Wall Street Journal (July l0, 2007), that option...

... The FY08 hospice payment rates will be FY07 payment rates.(CMS)(Brief article)
August 1, 2007... ... The FY08 hospice payment rates will be FY07 payment rates, increased by 3.3 percent, which is the total hospital market basket percentage increase forecasted for FY08, according to the Centers for Medicare and Medicaid Services (CMS). The...

... Therapy evaluations of a beneficiary who is admitted to a skilled nursing facility (SNF) must take place in the SNF, CMS clarified on June 29, 2007.(CMS)(Brief article)
August 1, 2007... ... Therapy evaluations of a beneficiary who is admitted to a skilled nursing facility (SNF) must take place in the SNF, CMS clarified on June 29, 2007. The cost of an initial therapy evaluation in the SNF is included in the SNF prospective...

... CMS has published Medicare payment rate updates under the PPS for long-term care hospitals (LTCHs) for rate year (RY) 2008.(CMS)(Brief article)
August 1, 2007... ... CMS has published Medicare payment rate updates under the PPS for long-term care hospitals (LTCHs) for rate year (RY) 2008. According to the transmittal, updates to the LTCH PPS for RY08 are as follows: * Standard federal rate is...

Primary care blues, part 1.(NEWS WATCH)(Survey)(Brief article)
August 1, 2007... PRIMARY CARE BLUES, PART 1: According to the Center for Studying Health System Change, among physicians providing direct patient care at least 20 hours a week, the proportion of medical specialists grew from 32.2% in 1996-97 to 37.6% in...

Physician groups improve quality and generate savings under Medicare physician pay-for-performance demonstration.(Healthcare Quality)(Brief article)
August 1, 2007... The Centers for Medicare and Medicaid Services (CMS) announced in July that all l0 of the physician groups participating in the three-year Medicare Physician Group Practice Demonstration improved the clinical management of diabetes patients in...

Primary care blues, part 2.(NEWS WATCH)(Survey)(Brief article)
August 1, 2007... PRIMARY CARE BLUES, PART 2: Only 20% of internal medicine residents are now choosing primary care internal medicine; the rest are pursuing higher-paying subspecialties. Meanwhile, 20% of Americans live in areas with a shortage of primary...

RAND study: quality of medical care improves when patients have more chronic illnesses.(Healthcare Quality)
August 1, 2007... Contrary to popular belief, patients with multiple chronic illnesses do not receive worse quality of care, according to a recent RAND Corporation study. The study is the first large-scale assessment of quality of care in patients with...

... CMS has published a proposed rule (Federal Register, June 29, 2007).(FEDERAL REGISTER)(Brief article)
August 1, 2007... ... CMS has published a proposed rule (Federal Register, June 29, 2007) that would allow it to charge revisit user fees to healthcare facilities cited for deficiencies during initial certification, recertification, or substantiated complaint...

Now that's an expensive turnover.(NEWS WATCH)(Brief article)
August 1, 2007... NOW THAT'S AN EXPENSIVE TURNOVER: Analysis conducted by PricewaterhouseCoopers has found that every 1% increase in nurse turnover costs a hospital about $300,000 a year. Furthermore, hospitals that perform poorly in nurse retention spend, on...

A little perspective.(NEWS WATCH)(Brief article)
August 1, 2007... A LITTLE PERSPECTIVE: Federal funding for research into Alzheimer's disease for FY07 is $643 million, according to the National Institutes of Health. Funding for cancer research? $5.55 billion.

CMS proposes payment changes for physicians' services in 2008.(Quick Hits: Top News Stories of the Month)(Centers for Medicare and Medicaid Services )(Brief article)
August 1, 2007... The Centers for Medicare and Medicaid Services (CMS) projects that it will pay approximately $58.9 billion to 900,000 physicians and other healthcare professionals in CY08, under a proposed rule released July 2 that would revise payment rates...

CMS issues final citizenship guidelines for Medicaid eligibility.(Quick Hits: Top News Stories of the Month)(Brief article)
August 1, 2007... Establishing citizenship for Medicaid eligibility will be easier for states and program applicants under final regulations implementing the new law, issued by CMS July 2. The final rule both expands the types of documentation that can be used...

MedPAC: replace hospital wage index, modify IPPS proposed rule.(Quick Hits: Top News Stories of the Month)(inpatient prospective payment system )(Brief article)
August 1, 2007... The Medicare Payment Advisory Commission's June 2007 report to Congress examines several approaches to promoting greater efficiency in the Medicare program, including a more accurate approach for computing the hospital wage index, which is used...

New Form 990 includes hospital community benefit.(Quick Hits: Top News Stories of the Month)(Brief article)
August 1, 2007... The IRS has released for comment and discussion a draft Form 990, including a new portion designed to quantify community benefit of tax-exempt hospitals. The IBS is soliciting comments until Sept. 14, 2007.

Around 2 million more Americans uninsured: CDC report.(Quick Hits: Top News Stories of the Month)(Brief article)
August 1, 2007... According to a new report issued June 25 by the Centers for Disease Control and Prevention National Center for Health Statistics, the number of uninsured Americans increased by 2 million from 2005 to 2006. That increase was almost entirely in...

7 Plans suspend PFFS marketing in response to deceptive practices.(Quick Hits: Top News Stories of the Month)
August 1, 2007... CMS announced in mid-June that in response to concerns about marketing practices, seven health-care sponsors have signed an agreement to suspend voluntarily the marketing of private fee-for-service (PFFS) plans. This suspension will be lifted...

Financial Peace 101.(Member Spotlight)
August 1, 2007... HFMA member Ken Trammell coordinates a class that helps consumers learn how to live on a budget, reduce their debt, save for retirement, and give charitably. Ken Trammell is helping people in his community achieve "financial peace." ...

Yakkity yak: physicians talk too much about themselves.(Strange, but True)(Brief article)
August 1, 2007... A recent study shows physicians who share personal information about themselves with their patients end up turning many patients off. Researchers for the University of Rochester School of Medicine and Dentistry in Rochester, N.Y., secretly...

Overheard.(ETCETERA)(Brief article)
August 1, 2007... "You've got your work cut out for you." --Gen. Colin Powell, U.S.A. (Ret.), speaking to healthcare finance professionals at HFMA's 2007 ANI: The Healthcare Conference in San Diego. Powell believes the biggest challenge facing the American...

What's new on our Web site.(ETCETERA)(Brief article)
August 1, 2007... hfm Toolbox: Key Revenue Cycle Metrics. See "Resource Library, then "Revenue Cycle," then "Performance Management," and click on the title of the document. hfm Toolbox: Procedure Costing Flexibility. See "Resource Library," then "Revenue...

Thoughts on 'SiCKO'.(VIEWS)(Letter to the editor)
August 1, 2007... During HFMA's, 2007 ANI: The Healthcare Finance Conference, HFMA President and CEO Richard Clarke invited commentary on the movie "SiCKO." Directed by Michael Moore, the movie takes a look at the U.S. healthcare system, comparing the American...

Deep discount with dignity: the Amish live by the principles of simplicity, practicality, humility, and nonresistance.(Make a Difference)
August 1, 2007... They do not own cars or have utilities. They dress modesty. They are hard-working, self- employed-and uninsured. It is against the Amish belief system to participate in any government programs. Consequently, they do not collect Social...

The tyranny of either-or.(comapnies must be socailly responsibile)(Editorial)
August 1, 2007... My father asked Buckminster Fuller, "Are you a liberal or a conservative?" I was about 10 years old, and architect and inventor Buckminster Fuller was having dinner at our home before giving a lecture in town. It was the late 1960s, a time...

More than fun and sun at San Diego ANI.(HFMA NEWS)(Healthcare Financial Management Association)
August 1, 2007... In a city that features 70 miles of beaches, more than 90 golf courses, and a gentle, Mediterranean climate, healthcare finance professionals from throughout the country found insights from some of the best and brightest professionals in the...

North Carolina Chapter receives Shelton Award.(HFMA NEWS)
August 1, 2007... HFMA's most prestigious chapter award, the Robert M. Shelton Award for Sustained Excellence, was presented to the North Carolina Chapter during the 54th Annual Chapter Presidents Dinner and Meeting. The awards dinner took place at HFMA's 2007...

Scenes from ANI San Diego.(HFMA NEWS)
August 1, 2007... ANI is a time to rekindle your passion for the work you do, reconnect with friends new and old, and realize new opportunities to learn and grow, whether personally or professionally. It's also a time to celebrate the achievements of your...

The growing interest in a comparative clinical effectiveness center: information will be a critical component in U.S. healthcare reform, no matter what direction it ultimately takes.(EYE ON WASHINGTON)
August 1, 2007... As candidates for the 2008 election are again demonstrating, there is little consensus about how to approach healthcare reform. Different proposals abound, and it is far too early to see which, if any, will dominate the political landscape. ...

Consumer-directed health plans what happened?(BUSINESS TRENDS)
August 1, 2007... Many who want to reform the U.S. health system suffer from a dreadful and poorly understood illness: "silver-bullet-itis." Reform advocates glimpse in a single promising, often disruptive, innovation the solution to the health industry's ills....

A journey toward revenue cycle excellence.(REVENUE CYCLE)(Nebraska Medical Center)(Company overview)
August 1, 2007... The road to excellence in accounts receivable (A/R) management is often strewn with potholes and mines. It's a journey that requires planning, effective management, and collaboration to reach the desired destination. In 2001, The Nebraska...

Time for a second look at SOX compliance: there's never been a better time for tax-exempt healthcare organizations to consider implementing a voluntary Sarbanes-Oxley compliance program.(Cover story)
August 1, 2007... Since the passage of the Sarbanes-Oxley Act (SOX) in 2002, tax-exempt healthcare organizations have been consistently urged to weigh the benefits of voluntary compliance with the law. But for various reasons, including the cost and complexity...

Sarbanes-Oxley: impetus for enterprise risk management: not-for-profit healthcare organizations should not regard voluntary compliance with the Sarbanes-Oxley Act as an end in itself; it should be part of a larger enterprise risk management initiative.
August 1, 2007... "A good reputation is more valuable than money."--Publilius Syrus, writer of maxims (~100 BC) The risk to not-for-profit healthcare institutions of a damaged reputation has probably never been as great as it is today. Pressure is mounting...

IRS increases emphasis on not-for-profit health care: the IRS is scrutinizing the not-for-profit hospital sector. Healthcare financial managers should review developments as they occur.(FEATURE STORY)
August 1, 2007... In a significant development, the IRS has been focusing increased attention and resources this year on its oversight of the tax-exempt, not-for-profit healthcare sector. This attention is evident principally through increased audit activity,...

Economic value added can it apply to an S corporation medical practice?: shareholder value is the key driver of corporate performance in both public and private companies, and medical practices are no exception. But what is the best way to determine a practice's economic value?(FEATURE STORY)
August 1, 2007... Traditional economic thought holds that the ROI in a company's assets is expected to exceed the risk-free rate of return achievable with U.S. government securities by an amount commensurate with the historical market performance spread of...

Coping with connectivity: scripting tools are helping hospitals tighten workflow and streamline processes without a huge investment--resulting in improved patient care and revenue cycle management.(FEATURE STORY)
August 1, 2007... Software solutions for the healthcare industry frequently focus on enhancing the quality of patient care as well as boosting an organization's revenue cycle. The key to introducing new technology is ensuring interoperability with existing...

Quality: the new healthcare imperative: in case you've been wondering, implementing sustainable quality systems can enhance competitiveness and bring ROI.(FEATURE STORY)
August 1, 2007... The U.S. healthcare delivery system cannot survive without a rapid transformation. The latest Social Security and Medicare trustees" annual report projects insolvency for the Medicare Hospital Insurance Trust Fund by 2018--two years sooner than...

Root cause analysis to improve payer profiling.
August 1, 2007... As public payer reimbursement trends continue to become more challenging, maximizing the profitability of private payer contracts is critical to a hospital's long-term sustainability. The complexity in today's payer arrangements creates...

2007-08 HFMA Leadership Directory.(Directory)
August 1, 2007... 2007-08 National Board of Directors CHAIRMAN Mary Beth Briscoe, FHFMA, CPA CFO University Hospital, UAB Health System Birmingham, Ala. PRESIDENT Richard L. Clarke, DHA, FHFMA President and CEO HFMA ...

Financial leadership and health reform: be careful what you ask for: momentum for health reform is building to its highest level in years. Should health care's finance leaders be optimistic ... or cautious?(LEADERSHIP AND MANAGEMENT)
August 1, 2007... The chorus of voices for health reform builds to a fever pitch every decade, as predictably as hot weather in August. The American people are once again deeply concerned about the cost, quality, and access problems of medical care. Just about...

Does HIE before EHR put the cart before the horse?: perhaps the sequence of what comes first was vital only in the days of horse and buggy transportation. Today, however, some healthcare organizations struggle with "what comes first" when it comes to healthcare IT.(INSIDE IT)(health information exchange)(electronic health record )
August 1, 2007... Some organizations are either applying paper-based limitations on health information exchange (HIE) or believe they must have an electronic health record (EHR) to participate in this process. The reality is there are many options for...

Are freestanding emergency centers an idea whose time has come?: What would you do?
August 1, 2007... The Problem The relatively fragmented, underserved, sparsely populated but now rapidly growing market to the east of Small City General Hospital has been "discovered" by providers further east at the periphery of a large metropolitan area....

National events.(CALENDAR)(Calendar)
August 1, 2007... NATIONAL EVENTS October 1-3 HFMA's Critical Access Hospitals Program HFMA s Critical Access provides leaders working in critical Hospitals Program access hospitals with the knowledge and Minneapolis ...

Chapter events.(Calendar)
August 1, 2007... CHAPTER EVENTS The following HFMA chapter events are scheduled to occur in August 2007. To learn more about these HFMA chapter events, please visit www.hfma.org/events, and select August and Chapter Events. August 15-17 Virginia...

Fall 2007 Seminars.(Calendar)
August 1, 2007... Fall 2007 Seminars Level Seminar Oct. 1-4 Oct. 8-11 Minneapolis Nashville Financial Management B Fundamentals of Health- ...

Martin D. Golden.(PEOPLE)(Marquette Healthcare Finance)(Brief article)
August 1, 2007... Golden has been appointed executive vice president, managing director, Marquette Healthcare Finance, Portland, Ore. Formerly, he was managing director, healthcare finance, Wells Fargo Foothill, Portland, Ore.

Andrew S. Goldfrach.(PEOPLE)(Phoenixville Hospital)(Brief article)
August 1, 2007... Mr. Goldfrach has joined Phoenixville Hospital, Phoenixville, Pa., as administrative specialist. He had been a graduate student in the health administration program, Washington University School of Medicine, St. Louis.

Kevin M. Brophy, FHFMA.(PEOPLE)
August 1, 2007... Brophy has joined CBIZ KA Consulting Services, LLC, East Windsor, N.J., as director, patient financial services. Previously, he was director, ARMDS, Bloomfield, N.J.

Richard Cohan, FACHE, CCP.(PEOPLE)
August 1, 2007... Cohan has been appointed director, system integrity, Providence Health & Services, Seattle. Previously, he was vice president, corporate responsibility, Exempla Healthcare, Denver.

Jeffery L. Schaefer.(PEOPLE)
August 1, 2007... Mr. Schaefer has been named vice president, sales and delivery, BluWater Consulting, Inc., Kirkland, Wash. Formerly, he was chief information officer, partner, Tatum, LLC, Atlanta.

Bad debt, deductions, and utilization by payer.
August 1, 2007... Recent trends in bad debt expense, deductions as a percentage of gross patient charges, and utilization by payer present a troubling picture for the financial performance of U.S. hospitals. For hospitals, on average, bad debt as a percentage of...

Make a difference in leadership: Michael Moore's movie "SiCKO" hit hard on much of what is wrong with American health care: high cost, complex and sometimes hard-to-access insurance, and inconsistent quality and safety.
August 1, 2007... Regardless of your opinion about Moore and his movies, this one sparked a lot of debate. It is easy to discount a movie like "SiCKO" given our society's tendency to simplify complex issues into sound bytes. And as Mark Knight, my...

It all adds up.
August 1, 2007... The father of modern management, Peter Drucker, said, "People are a resource, not just a cost." With aggressive compensation packages that often include salary, bonuses, and profit-sharing plans, hospitals and health systems are apparently...