Healthcare Financial Management articles from December 2006

Healthcare Financial Management archives from December 2006

Clinical IT gaps persist between small and large physician practices, says study.(information technology)
December 1, 2006... Physicians in smaller practices continue to lag well behind physicians in larger practices in reporting the availability of clinical IT in their offices, according to a national study released Nov. 9 by the Center for Studying Health System...

Saving for a drainy day.(healthcare providers save upto 7 persent of their revenues according to a report)(Brief article)
December 1, 2006... SAVING FOR A DRAINY DAY: Although U.S. healthcare providers average net profits of only 3 percent, they set aside roughly 7 percent of their revenues-$129 billion annually-to cover bad debt, according to the Kaulkin Ginsberg report Healthcare...

CMS.(Centers for Medicare and Medicaid Services' annual update to the hospice payment calculations )
December 1, 2006... HFMA staff review CMS notices regularly for transmittals that affect healthcare financial managers, and post links to those transmittals on HFMA's web site. For links to these and other key transmittals, bookmark HFMA's Regulatory Updates...

That's with A "B," Part 1.(NEWS WATCH)(hospitals services)(Survey)(Brief article)
December 1, 2006... THAT'S WITH A "B," PART 1: U.S. hospitals provided $28.8 billion in uncompensated care in 2005-almost $2 billion more than in 2004, and $5.3 billion more than in 2000-according to the latest AHA Annual Survey of Hospitals.

Study: large hospitals least compliant with HIPAA security rule.(NEWS WATCH)(Health Insurance Portability and Accountability Act)(Survey)
December 1, 2006... Most "covered entities" have complied to some extent with most of the Health Insurance Portability and Accountability Act regulations, but security rule compliance remains low among healthcare providers. Although the deadline for compliance...

That's with A "B," Part 2.(NEWS WATCH)(hospital surveys)(Survey)(Brief article)
December 1, 2006... THAT'S WITH A "B," PART 2: Hospitals were underpaid by Medicare to the tune of $15.5 billion and by Medicaid by $9.8 billion in 2005, according to the latest AHA Annual Survey of Hospitals.

Pennsylvania law expands coverage of uninsured children.(State Watch)
December 1, 2006... Gov. Edward G. Rendell signed into law on Nov. a his Cover All Kids initiative, making Pennsylvania one of a growing number of states striving to ensure that every child has healthcare coverage. More than 133,000 children in Pennsylvania are...

If it costs more, it's got to be better, right?(NEWS WATCH)(Brief article)
December 1, 2006... IF IT COSTS MORE, IT'S GOT TO BE BETTER, RIGHT? According to a new report from the Agency for Healthcare Research and Quality, the average expense per outpatient drug purchase rose to $82.53 from 459.49 for a brand-name drug, and to 433.53 from...

Federal register.(NEWS WATCH)(rules for installing automatic sprinkler systems)
December 1, 2006... HFMA staff review the Federal Register daily for information that affects healthcare financial managers, and post links to the Federal Register on HFMA's Regulatory Updates (www.hfma.org/news/reg). ... All long-term care facilities would be...

If you've got it, donate it.(NEWS WATCH)(charities contributions to health care facilities)(Brief article)
December 1, 2006... IF YOU'VE GOT IT, DONATE IT: Charitable contributions to U.S. healthcare facilities and organizations increased by a record 16% in FY05, to $7.01 billion, and by 11% in Canada, to $1.2 billion, according to the Association for Healthcare...

Final OPPS rule: hospitals must report outpatient quality measures.(Quick Hits: Top News Stories of the Month)(outpatient prospective payment system)(Brief article)
December 1, 2006... CMS has released the 2007 hospital outpatient prospective payment system final rule, which includes provisions for expanding the quality reporting requirement for hospital inpatient services and increasing the list of services for which...

Physician Fee Schedule final rule increases payment for E&M services.(Quick Hits: Top News Stories of the Month)(Brief article)
December 1, 2006... The Medicare Physician Fee Schedule final rule released by the CMS reduces payment for physician-related services by 5.0 percent--slightly less than the 5.1 percent reduction in the proposed rule--to account for growth in volume and intensity...

CMS announces payment changes for Medicare home health services.(Quick Hits: Top News Stories of the Month)(Centers for Medicare & Medicaid Services)(Brief article)
December 1, 2006... CMS has announced a 3.3 percent market basket increase for Medicare payment rates for home health services and certain durable medical equipment for CY07. The home health PPS annual update will bring an estimated additional $410 million in...

Moody's: Not-For-Profits have credit edge over for-profits.(Quick Hits: Top News Stories of the Month)
December 1, 2006... Of the hospitals that it rates, not-for-profit hospitals have continued to strengthen their financial performance and market positions, giving them an overall credit edge over for-profit competitors, says Moody's Investors Service in a newly...

Survey: U.S. primary care system is not world's best.(Quick Hits: Top News Stories of the Month)(Survey)
December 1, 2006... A survey of more than 6,000 primary care physicians in Australia, Canada, Germany, the Netherlands, New Zealand, the United Kingdom, and the United States finds that U.S. primary care physicians do not have as many tools or as much support to...

New policy changes Medicaid coverage for children born to illegal immigrants.(Quick Hits: Top News Stories of the Month)(Brief article)
December 1, 2006... Under the Deficit Reduction Act, children born to undocumented immigrants no longer will be granted automatic Medicaid coverage for the first year of life, the Bush administration has announced. The change in policy now requires parents to file...

Shaking up Christmas.(Member Spotlight)(Janet Wagner's comical salt-and-pepper shakers collection )
December 1, 2006... Janet Wagner's comical salt-and-pepper collection shakes things up for the holidays. A Santa Claus and snowman dressed for the Florida Keys, with sunglasses, Hawaiian shirts, and sandals, sits atop Janet Wagner's fireplace mantle. ...

Redefining Heath Care: Creating Value-Based Competition on Results.(Book review)
December 1, 2006... Redefining Heath Care: Creating Value-Based Competition on Results Michael E. Porter & Elizabeth Olmstead Teisberg Harvard Business School Press, 2006 Does competition really have a place in the national healthcare environment? Michael E....

Is this what accountants do when they retire?(Strange, but True)(Brief article)
December 1, 2006... Looking for adventure after retirement? One retired accountant has become a championship eater, recently swallowing 247 jalapeno peppers in eight minutes to take top honors in the "Jalapeno-Eating World Championship" at the State Fair of Texas...

Patient administration: one-stop patient processing.(20 Years Ago in hfm)
December 1, 2006... hfm's December 1986 cover story, "Patient Administration: One-Stop Patient Processing," addressed the need to consolidate patient accounting, registration, admitting, medical records, and other patient-related clerical activities to be...

HFMA roundtable: consumer-directed care--what will it mean to your business office?(Site Seeing)(Discussion)
December 1, 2006... This report is based on a roundtable discussion with senior healthcare financial executives examining the impact consumer-directed care will have on the business office. www.hfma.org/library/reimbursement/managedcare/ 400524.htm

HFMA highlights: inpatient hospital PPS final rule for FY07.(Site Seeing)
December 1, 2006... On Aug. 1, 2006, the Centers for Medicare and Medicaid Services released the hospital inpatient prospective payment system final rule for FY07. This article details the effects that this rule will have on hospitals,...

Leading consumer-directed change.(ETCETERA)
December 1, 2006... Consumer-directed health care will change relationships and operations throughout the hospital. Collecting from patients will require process changes, staff training, and possibly personnel changes in finance, patient access, medical records,...

Sharks and consumerism: we all have our personality traits, our strengths and weakness, our good sides and our bad. We're human. We can't be all things to all people.(Courage IN LEADERSHIP)
December 1, 2006... That being said, I admire readers--those voracious readers who seem to have read the latest best sellers while fully functioning in their busy jobs. Oh, I read a few management books (more like skim them) and the occasional John Grisham novel....

Clifford Kuhn, MD: healing with humor.(hfm Q&A)(dialogue with Clifford Kuhn)(Laugh Doctor Enterprises, Inc. )(Interview)
December 1, 2006... Clifford Kuhn, MD, has been a practicing physician for 40 years. He is professor of psychiatry at the University of Louisville School of Medicine in Louisville, Ky., and president of Laugh Doctor Enterprises, Inc. Kuhn is the author of the book...

Your new best friend.(a guide for healthcare financial managers on quality reporting)
December 1, 2006... Do you track POA (present on admission)? Are you enrolled in HCAHPS (the Hospital Consumer Assessment of Healthcare Providers and Systems)? "Will you participate in SCIP (the Surgical Care Improvement Project)? Is your state using AHRQ...

HFMA volunteer leaders swap ideas during fall presidents meetings.(HFMA NEWS)
December 1, 2006... Presidents and presidents-elect from HFMA's 69 chapters provided ideas and feedback on topics such as the Davis Chapter Management System, education, and other chapter concerns during this year's Fall Presidents Meetings. The meetings...

Former HFMA leader Clifford C. Losberg, Jr., remembered.(HFMA NEWS)(death of Clifford C. Losberg)(Obituary)(Brief article)
December 1, 2006... Clifford C. Losberg, Jr., who served as the elected president of HFMA during 1968-64 and was chairman of the Louisiana Chapter in 1958, died Oct. 3, 2006, at his home in Metairie, La. He was 84 years old. Losberg, a lifelong resident of the...

HFMA releases new product for training frontline staff.(HFMA NEWS)(Healthcare Financial Management Association)(Brief article)
December 1, 2006... Excellence in Customer Service, the first release in HFMA's Revenue Cycle Staff Training Series, is an educational program designed for frontline employees and others who have direct contact with patients and their families. When frontline...

Earn founder's points by reviewing hfm articles.(HFMA NEWS)
December 1, 2006... If you enjoy keeping up with the latest healthcare finance trends, hfm may have an opportunity for you. We're seeking HFMA members with the expertise necessary to review articles submitted for publication in the magazine. If you have the...

The challenge of Medicare physician spending: the dilemma for Medicare is to devise a physician payment strategy that promotes the delivery of the appropriate volume and mix of services, provides good access to physician services for seniors, and moderates or controls physician spending.(EYE ON WASHINGTON)
December 1, 2006... With the new emphasis in Medicare and elsewhere in health care on rewarding "good performers"--that is, those who provide high-quality, patient-centered, and efficient care--the challenge has become even more daunting. Current Law ...

HFMA's healthcare finance outlook 2007.(PREVIEW)
December 1, 2006... Strategic planning is one area where a leader's courage is truly tested. One of a financial leader's most important roles in an organization is to help the organization through this process, with the goal of ensuring that the resources are...

A "best practices culture".(Rick Graniere, MemorialCare Medical Centers)(Interview)
December 1, 2006... If the honors granted to hospitals came in the form of trophies, MemorialCare Medical Centers, in Southern California, would have a full trophy case. The healthcare system has been identified as one of the top integrated systems in America...

Looking to rev up your revenue cycle? Providers share their top tips for using automation and process changes to improve staff productivity, reduce denials, and tackle other key revenue cycle challenges.(HFMA EDUCATIONAL REPORT)(Case study)
December 1, 2006... Throughout the revenue cycle, technology is creating efficiencies once thought impossible. Automation has enhanced billing practices and coordinated information flow for improved patient financial services. Today's finance executives can...

EHR value: don't expect what you don't plan for.(electronic health record)
December 1, 2006... If you were going to design a plan for the failure of a hospital or health system, it might read something like this: "Spend all of your available capital for five years on a highly risky, extremely complex, and time-consuming system investment...

Effective payment delay resolution: it's all in the details.(REVENUE CYCLE)
December 1, 2006... How can we leverage the role of the health information management department in payment delay resolution? Careful monitoring of HIM processes could provide the answers. Traditionally, focus on reducing payment delays and account...

Health savings accounts: are you prepared?(hfma roundtable)
December 1, 2006... Health savings accounts coupled with high-deductible insurance plans have the potential to groom a new brand of healthcare consumer--namely, patients who are more cost conscious and "invested" in their care. While such consumer-directed health...

Making the grade with pay for performance: 7 lessons from best-performing hospitals: hospitals that excel in pay for performance share what it takes to improve quality of care.(Cover story)
December 1, 2006... When Hackensack University Medical Center received a report card for its efforts in the government's first pay-for-performance project last year, it came with an $848,000 bonus check. The New Jersey medical center received the largest...

The 8 dimensions of quality: careful scrutiny of quality-of-care metrics and laws can assist hospitals in developing strategies for high-quality care.(FEATURE STORY)
December 1, 2006... High-quality care recently has become more than an ethical responsibility of providers. New laws link Medicare payment to quality reporting, and new programs offer financial rewards for meeting certain standards of care. Healthcare...

Building the business case for clinical quality: hospital performance improvement projects that focus on reducing costs risk undermining clinical quality, while failing to achieve any real financial benefit. A better approach is to focus on improving cost efficiencies.(FEATURE STORY)
December 1, 2006... Are your hospital's performance improvement efforts reaching the organization's bottom line? That's a question that is gaining importance for many hospital CFOs. Consider the following scenario: Your hospital's fully loaded costs for an...

Performance improvement a "left brain meets right brain" approach: clinical analytics enables hospitals to combine clinical and financial data in developing better strategies for performance improvement.(FEATURE STORY)
December 1, 2006... In 1979, Betty Edwards introduced the world to a new drawing technique in her book Drawing on the Bight Side of the Brain. The book, which shot to The New York Times bestseller list within two weeks and stayed there for more than a year, became...

Computerize your infection surveillance for improved patient care--and savings: if you don't know your hospital's infection rate, you may be missing an opportunity to significantly improve patient care--and financial health.(FEATURE STORY)(kadlec Medical Center)
December 1, 2006... The increase in drug-resistant healthcare-associated infections is forcing hospitals to address this serious and costly health issue. Approximately 2 million patients admitted to U.S. hospitals--about one in 10--acquire an infection while...

A search for the "Holy Grail" of health care a correlation between quality and profitability: researchers at CHRISTUS Health offer evidence that a hospital's efforts to promote high-quality care can enhance its profitability.(FEATURE STORY)
December 1, 2006... Do a hospital's efforts to deliver high-quality clinical care really pay off? How do such efforts promote the profitability of the organization? If it's true that the core mission of every healthcare organization is to deliver the best...

Pay-for-performance options in health care: pay for performance is going to become a part of most payment arrangements. How will it affect providers?(COMMENTARY)
December 1, 2006... Pay-for-performance programs likely will become major components of virtually all payment arrangements between third-party payers and healthcare providers. They might even be included in arrangements between providers and patients, where...

Pay-for-performance checklists.(hfm TOOLBOX)
December 1, 2006... Pay-for-performance programs are new opportunities for providers to receive incentives for following evidence-based measures and improving the quality and efficiency of care provided to patients. To prepare for these programs, providers need to...

An effective documentation strategy.(hfma roundtable)(Augustine Lopez - Alvarado Hospital Medical Center)(Robert Wardwell - Tri-City Medical Center)(Anthony Guerra - Sharp Coronado Hospital)(Discussion)
December 1, 2006... With proposed payment changes from the Centers for Medicare and Medicaid Services, hospitals may need to ensure they are recording the severity profile of patients and the true cost of care to obtain the payment they are due. As such, many...

Pricing transparency or smoke screen?(LEADERSHIP AND MANAGEMENT)
December 1, 2006... Does your pricing policy help you or hurt you? Price transparency means both buyer and seller know their prices. One knows what it will charge. The other knows what it will pay. Seems simple, doesn't it? Healthcare financial managers...

Health care in crisis: is HIT the Rx? There is near-universal agreement that health care in the United States and in many areas around the world is close to "hitting the wall." Costs are escalating at unsustainable rates. Access to care is uneven. Quality suffers. Incremental change moves too slowly to address these critical issues.(DIGITAL PERSPECTIVES)
December 1, 2006... Health care needs to transform itself to become more efficient and effective. Politicians talk about it--and even draft legislation. Policy wonks conduct studies and publish papers describing the challenges and possible remedies. Employers,...

Why children's business development? The concentration of pediatric specialty care in large regional centers is raising consumer expectations for dedicated child-and family-friendly staff, facilities, and care delivery approaches.(NEW REVENUE GROWTH)(Case study)
December 1, 2006... As a result, the children's healthcare field is splitting into two distinct tiers approximately 200 to 250 children's hospitals positioned to attract resources for continued growth, and the rest of the field struggling with the financial drain...

Calendar.(Calendar)
December 1, 2006... NATIONAL EVENTS December 11-12 Hone your leadership skills by working hands-on Leadership Workshops with your peers during two days of intense, Chicago in-depth training. Workshops cover topics such ...

Keith Boyd (North Carolina Chapter).(Gustafson & Associates Inc.)(Brief article)
December 1, 2006... Mr. Boyd has been appointed senior consultant and resource coordinator, Gustafson & Associates, Inc., Deerton, Mich. He had previously worked as director of patient financial services for general care hospitals in New York and New Hampshire.

Aaron Burky (Lone Star Chapter).(PEOPLE)
December 1, 2006... Mr. Burky has been promoted from Medicare accounts receivables manager to director of operations, Tenet PFS National Medicare and Medicaid Center, Dallas.

Richard C. Chesnos, FHFMA, CPA (Western Pennsylvania Chapter).(St. Clair Hospital)(Brief article)
December 1, 2006... Mr. Chesnos has been appointed senior vice president and CFO, St. Clair Hospital, Pittsburgh. Previously, he was vice president, operations, and CFO, The Western Pennsylvania Hospital, Pittsburgh.

Stephen Chrapla (First Illinois Chapter).(Gustafson & Associates Inc.)(Brief article)
December 1, 2006... Mr. Chrapla has joined Gustafson & Associates, Inc., Deerton, Mich., as director of consulting and project management. Formerly, he had been executive vice president, Accelerated Receivables Management, Park Ridge, Ill.

Tom Morris (Georgia Chapter).(Gustafson & Associates Inc.)(Brief article)
December 1, 2006... Mr. Morris has joined Gustafson & Associates, Inc., Deerton, Mich., as a consultant. He had been director of patient access and director of revenue cycle management for various healthcare organizations in Georgia.

Roger Rego (Wisconsin Chapter).(Gustafson & Associates Inc.)(Brief article)
December 1, 2006... Mr. Rego has joined Gustafson & Associates, Inc., Deerton, Mich., as a consultant. Previously, he was director of financial services, Beaver Dam Community Hospital, Beaver Dam, Wis.

Rhonda Ridenour, CHFP (Northeast Ohio Chapter).(PEOPLE)
December 1, 2006... Ms. Ridenour has been promoted from director of operations to vice president of operations and corporate integrity, Gustafson & Associates, Inc., Deerton, Mich.

Rebecca Burnham (South Texas Chapter).(PEOPLE)
December 1, 2006... Ms. Burnham has joined VistaCare, San Antonio, Texas, as office manager. Previously, she was tracing supervisor, McKenna Memorial Hospital, New Braunfels, Texas.

John M. DeZulovich (Appalachian Chapter of Central Pennsylvania).(St. Clair Memorial Hospital)(Brief article)
December 1, 2006... Mr. DeZulovich has been named director of financial services, St. Clair Memorial Hospital, Pittsburgh. He had been manager, national heakhcare provider practice, Deloitte Consulting, LLP, Pittsburgh.

Donald Fentem (Arkansas Chapter).(MedCath Inc.)(Brief article)
December 1, 2006... Mr. Fentem has been named director, business office operations, MedCath, Inc., Charlotte, N.C. He had been business office team leader, Arkansas Heart Hospital, Little Rock, Ark.

Study: hospital professional and physician liability claims stabilizing.(DATA TRENDS)
December 1, 2006... Insurance claims against physicians, nurses, and other medical professionals have stabilized, according to results of an annual national benchmark study of hospital and physician loss and exposure data. The 2006 study findings suggest that the...

Now what? A few weeks ago, the Democratic Party regained control of the U.S. Congress for the first time in more than a decade. What does this mean for health policy in the near future.(FROM THE PRESIDENT)
December 1, 2006... The new Democratic leaders of the House and Senate have stated they will focus on several non-healthcare issues such as dealing with the war in Iraq, raising the federal minimum wage, and changing immigration policy. These issues will require...