Healthcare Financial Management articles from February 2005

Healthcare Financial Management archives from February 2005

CMS affirms uninsured discounts won't affect outlier payments.(Policy Watch)
February 1, 2005... Discounts offered by a hospital to an uninsured patient that are based solely on the patient's uninsured status, rather than on an individualized determination of need, will not affect Medicare payment for outlier or new technology cases. ...

CMS releases new codes for immunosuppressive drugs.(Policy Watch)(Brief Article)
February 1, 2005... Effective Jan. 1, 2005, Medicare will pay a separately billable supplying fee of $24 to a pharmacy for each filled prescription of immunosuppres sire drugs, oral anticancer chemotherapeutic drugs, and oral antiemetic drugs, in accordance with...

Medicare payments increase for health clinics and centers.(Policy Watch)(Brief Article)
February 1, 2005... On Dec. 10, 2004, CMS published a transmittal announcing the CY05 payment rate increases for rural health clinics and federally qualified health centers. The RHC upper payment limit per visit increased from $68.65 to $70.78. The upper payment...

... Medicare will cover electrocardiographic services that meet the criteria described in section 20.15 of publication 100-03, the Medicare National Coverage Determinations Manual, according to Transmittal 26.(Brief Article)
February 1, 2005... ... Medicare will cover electrocardiographic services that meet the criteria described in section 20.15 of publication 100-03, the Medicare National Coverage Determinations Manual, according to Transmittal 26. NCDs are binding on all carriers,...

... IRS Notice 2005-5 provides guidance for the new automatic rollover rules for qualified retirement plans.(Internal Revenue Service)(Brief Article)
February 1, 2005... ... IRS Notice 2005-5 provides guidance for the new automatic rollover rules for qualified retirement plans. The new rules, which will take effect March 28, 2005, stipulate that mandatory distributions of more than $1,000 from a qualified...

CMS plans to reduce Medicare payment errors.(Policy Watch)(Brief Article)
February 1, 2005... The Medicare payment error rate is 9.3 percent for FY04, CMS recently announced, up from 5.8 percent in FY03, due in part to nonresponses from providers when errors were being resolved by contractors for insufficient documentation. CMS will...

GAO reports on advisory opinion process used by HHS.(Policy Watch)(Government Accountability Office)(Department of Health and Human Services)(Brief Article)
February 1, 2005... Recently, GAO issued its findings on how healthcare providers view HHS's advisory, opinion process. The study was conducted in view of the fact that healthcare providers are concerned about the quality of Medicare guidance issued by CMS....

Hospitals, SNFs get year-end payment system corrections.(Policy Watch)(Skilled Nursing Facility)(Brief Article)
February 1, 2005... In the last Federal Register of 2004, CMS issued corrections to the final PPS updates for skilled nursing facilities, hospital inpatient services, and hospital outpatient services. Most of the corrections were related to the wage index....

FASB: share-based payment to be recognized in financial statements.(Policy Watch)(Financial Accounting Standards Board)(Brief Article)
February 1, 2005... FASB has published Statement No. 123 (revised 2004), Share Based Payment, requiring that the compensation cost relating to share-based payment transactions be recognized in financial statements. Compensation cost, the statement says, will be...

Managed care rules included in year-end corrections.(Policy Watch)(Brief Article)
February 1, 2005... To go along with the payment rule corrections CMS pushed through at year-end, a Dec. 30 interim final rule modified a much earlier Medicare managed care rule. In its Aug. 22, 2003, "Modifications to Managed Care Rules" (68 FR 50840), CMS...

State finances are improving, but ... It remains to be seen how state legislatures will deal with rising costs, particularly for their Medicaid programs.(State Policy Watch)
February 1, 2005... The continued strength of the nation's economy is good news for states. Reports from the National Association of State Budget Officers, National Conference of State Legislatures, National Governors Association, and Rockefeller Institute all...

Why become certified? Did you know there's a correlation between certification and career advancement?(From The Chairman)
February 1, 2005... We as an organization pride ourselves in our knowledge and dedication to the healthcare industry, yet nationally, only 75 percent of HFMA members are certified. This means that fewer than 2,300 of our members have expended the time and effort...

Survey: double-digit healthcare cost increases for retirees in 2004.(Industry Watch)
February 1, 2005... Retirees paid more for healthcare costs in 2004, and they are expected to pay more in 2005 as well, according to a new survey of many of the nation's largest employers conducted by Kaiser Family Foundation and Hewitt Associates. Firms...

CEO survey reveals top issues for hospitals.(Industry Watch)(Brief Article)
February 1, 2005... Hospital CEOs ranked financial challenges as the No. 1 issue of concern for 2004, according to ACHE's "Top Issues Confronting Hospitals: 2004." Seventy-one percent of respondents to the ACHE's survey cited financial challenges as one of their...

Survey: report cards affect decision to operate.(Industry Watch)(Brief Article)
February 1, 2005... Nearly 80 percent of cardiologists in New York admit they do not operate on patients who might benefit from coronary angioplasty out of fear that their personal mortality report cards could be adversely affected if any of the patients were to...

U.S. healthcare spending slows for first time in seven years.(Industry Watch)(Brief Article)
February 1, 2005... Despite the $1.7 trillion price tag, reflecting a 7.7 percent increase, national health spending growth slowed in 2003 for the first time in seven years, according to an article published in the January/February issue of Health Affairs. The...

2004 survey: more physician employers reduced cash compensation.(Industry Watch)(Brief Article)
February 1, 2005... In 2003, 24 percent of physician employers reduced total cash compensation for at least some of their physicians, according to the Physician Compensation and Productivity Survey by Sullivan, Cotter and Associates. However, 70 percent of...

Cigna reaches settlement agreement on class actions.(Industry Watch)(CIGNA Corp. CIGNA Healthcare Group Inc.)(Brief Article)
February 1, 2005... Cigna HealthCare has settled lawsuits brought on behalf of a nationwide class of specialty healthcare providers and certain state and national associations by agreeing to establish an $11.55 million fund to pay back claims. Additional...

Catholic Health Association, VHA update community benefit reporting guidelines.(Industry Watch)(VHA Inc.)(Brief Article)
February 1, 2005... The Catholic Health Association of the United States and VHA Inc. have published updated community benefit reporting guidelines that can help healthcare facilities quantify how they benefit their local communities. CHA has released several...

Tenet agrees to settle lawsuits with cardiac patients.(Industry Watch)(Tenet Healthcare Corp.)(Brief Article)
February 1, 2005... Tenet Healthcare Corporation announced on Dec. 21, 2004 that it has reached an agreement with lawyers representing former cardiac care patients at Redding Medical Center, Redding, Calif. to settle substantially all patient litigation against...

Number of discharges and average length of stay at short-stay hospitals for mental illness, 1990-2002.(Industry Watch)(Brief Article)(Illustration)
February 1, 2005... Number of Discharges and Average Length of Stay at Short-Stay Hospitals for Mental Illness, 1990-2002 Number of Discharges ALOS (in thousands) 1990 1,538 12.2 1991 1,657 ...

Public favors malpractice reform but ranks it as a low priority.(Industry Watch)(Brief Article)
February 1, 2005... Reducing jury awards in malpractice lawsuits and importing drugs from Canada are favored by Americans, although they are not high on a list of 12 healthcare priorities that Americans would like President Bush and Congress to address this year,...

Safety measures suited to pediatrics.(Industry Watch)
February 1, 2005... A study published in the January issue of Pediatrics found that standard patient-safety indicators can be applied at childrens hospitals. The study used indicators issued by the Agency for Healthcare Research and Quality. The indicators'...

Quotes of note.(Industry Watch)
February 1, 2005... "Senator Baucus has requested a GAO study to look at... whether employers are using HSAs to provide another option or whether they are simply shifting costs to their employees. And also whether HSAs have resulted in a lot of new coverage for...

Seniors prepared for online health information resources.(Industry Watch)(Brief Article)
February 1, 2005... A new Kaiser Family Foundation survey of older Americans finds that fewer than one in three (31 percent) seniors (age 65 and older) have ever gone online, but that more than two of every three (70 percent) individuals in the next generation...

NUBC plans UB-04 implementation schedule.(HFMA News)(National Uniform Billing Committee )
February 1, 2005... The National Uniform Billing Committee will consider an implementation schedule for the UB-04 data set when it meets Feb. 22 and 23 in Baltimore. The UB-04 data set, the uniform bill that will replace the UB-92, includes a number of...

HFMA hosts Uninsured summit.(HFMA News)(Healthcare Financial Management Association)
February 1, 2005... HFMA will host The Uninsured, Your Community, Your Role as Financial Leader, this year's spring summit, March 6-8, at the Pointe Hilton Tapatio Cliffs Resort in Phoenix. The conference will feature solutions to help healthcare executives...

Next steps for health care: the second term of the Bush presidency is under way, a new secretary for HHS has been chosen, and many are now wondering what will be in store for HHS in the next four years. The short answer is: HHS will be even busier than usual, but there won't be a lot of new legislation by Congress, at least not the kind that costs a lot of money.(Eye On Washington)(Department of Health and Human Services)
February 1, 2005... That's not to say that the president and Congress won't be introducing an/important initiatives that affect the healthcare sector. But costly new healthcare legislation is unlikely because there is little money available for any new domestic...

The other side of outsourcing.(Technology)
February 1, 2005... It's hard to open a healthcare publication or attend a seminar these days without reading or hearing about the advantages of IT outsourcing, often including testimonials from satisfied providers who have outsourced their IT function. Today,...

Beyond saber rattling.(Business)
February 1, 2005... Three converging events in 2004 raised warning flags for tax-exempt healthcare providers: multiple class action lawsuits against targeted healthcare systems alleging insufficient indigent care and overly aggressive bill collection practices, a...

Margin for improvement?(Revenue Cycle)(margin management)
February 1, 2005... Today's healthcare leaders continue to search for the right business model to support their primary mission of meeting the healthcare needs of their communities while realizing a reasonable return. Rising expenses and professional fees,...

Are you leading with purpose? What is your burning passion? Purpose-driven leaders find fulfillment in providing service to others.(Cover Story)
February 1, 2005... In his best selling book, The Purpose Driven Life, Rick Warren asks, "What drives you?" A seemingly simple question, but his point is that everyone is driven by something, whether power, prestige, fear of failure, need for approval, or even...

40 things to think about in 2005.(Feature Story)(Industry Overview)
February 1, 2005... "You cannot step twice into the same river, for other waters are continually flowing in." --Heraclitus, ca. 500 B.C. In the case of health care, it would seem that Heraclitus was wrong; we've been continually stepping into the same...

Is anyone next in line? Succession plans are critical to ensuring a smooth transition when an organization faces an unexpected--or an expected--leadership vacancy.(Feature Story)
February 1, 2005... Imagine that your CFO or another senior executive suddenly announces plans to work for another hospital, to change careers, or to retire. Or imaging that a senior executive suddenly dies or becomes disabled. Does your organization have a plan...

Improving financial policies for uninsured patients: a report from the Patient Friendly Billing[R] project: seven key questions may be used as a guide by hospital leaders in evaluating their financial policies for uninsured and underinsured patients.(Patient Friendly Billing)
February 1, 2005... Hospitals are faced with a dilemma. An estimated 45 million Americans have no health insurance, and millions more have inadequate coverage that leads to difficulties in paying for health services. The burden of providing access to health...

Leaders with heart: seeking competitive advantage in cardiovascular services? Use the experiences of your top-performing peers to identify opportunities for operational improvement.(Feature Story)
February 1, 2005... Cardiovascular care is big business--often representing up to 40 percent of a hospital's revenue. And the number of cardiovascular procedures performed at hospitals continues to escalate as a result of technology advances, expanded patient...

How will America replace its rural hospitals?(HFMA roundtable)(Panel Discussion)
February 1, 2005... Many of the nation's 2,000-plus rural hospitals are aging. Some may be in immediate need of substantial renovation or replacement. Major construction projects have often been unaffordable for small hospitals. But the financial story for rural...

From 'Old San' to critical access.(HFM Interview)(Story County Medical Center)(Interview)
February 1, 2005... Nevada, Iowa. Present-day population: 6,658--the size of the employee roster at some large metropolitan hospitals alone. The first hospital in this small town, the Iowa Sanitarium of the Seventh-day Adventists, was dedicated in 1909 and...

Using call center data to determine a credible return on marketing investments.(HFM Toolbox)
February 1, 2005... Methodologies and formulas have recently been developed that are useful in matching patient activity with consumer responses to marketing campaigns. Thus it is possible to measure marketing activity that leads to revenue--and profit. The...

Leadership, language, and reality in health care: gaining insights into what you are doing often occurs when you are forced to think "outside the box.".(Leadership And Management)
February 1, 2005... An advantage of teaching is that many students are not sure where the box is, much less what is in the box. For sure, they are not yet in the box. They view health care objectively. These highly intelligent future leaders often ask quite...

Security: keeping the flame alive: most healthcare organizations recognize April 21, 2005, as the impending deadline when they need to be compliant with the HIPAA security rule.(Digital Perspectives)(Health Insurance Portability and Accountability Act of 1996)
February 1, 2005... Is this deadline on a back burner for your organization, or do you have a solid plan for readiness kept under a constant flame? Or perhaps you've thrown the security rule into the fire with all the rest of the rules? (You wish!) Whatever...

Growth in the trenches: Increasing market share.(New Revenue Growth)
February 1, 2005... * Memorial Hospital West in Pembroke Pines, Fla., increased its market share in its total service area from 11 percent in 1996 to 18 percent in 2003. * New York City's Hospital for Special Surgery, the U.S. News & World Report's...

Three trends: two bothersome, one really scary: it's that time of year again, when bankers, financial advisers, and other hospital financial analysts update their "trends presentations"--the standard boilerplate PowerPoint presentations on current trends in the hospital sector.(Capital Finance)
February 1, 2005... You know the drill: "Lights please? First we'll take just a few moments to review the current status of the healthcare system across the country [presenter points to series of bullet points]... the spiraling cost of health care... 6 percent...

Calendar.(Calendar)
February 1, 2005... Spring 2005 Seminars Level Seminar Financial Management I/A Achieving Breakthrough Performance: Tools and Techniques to Improve Healthcare Cost and Performance I/A Achieving Successful Revenue...

Sherry A. Keck, CPAM (North Carolina Chapter).(People)(Brief Article)
February 1, 2005... Ms. Keck has been named assistant vice president, PFS, corporate operations, Carolinas HealthCare System, Charlotte, N.C. She had been director of business services, Catawba Valley Medical Center, Hickory, N.C.

Robin A. Nichols, CPA (Southwestern Ohio Chapter).(People)(appointed)(Brief Article)
February 1, 2005... Ms. Nichols has been appointed CFO, vice president, finance, Major Hospital, Shelbyville, Ind. Formerly, she was vice president, finance, CFO, Greene Health Partners, Xenia, Ohio.

Alton (Larry) Phillips, CHFP, CPA (Lone Star Chapter).(People)(Brief Article)
February 1, 2005... Mr. Phillips has been named CFO, Moore County Hospital District, Dumas, Tex. Previously, he was CFO, Lubbock Heart Hospital, Lubbock, Tex.

Christina Piperato (Hudson Valley Chapter).(People)(appointed )(Brief Article)
February 1, 2005... Ms. Piperato has been appointed director of finance, Health Quest, Rhinebeck, N.Y. She had been staff accountant, Health Quest, Poughkeepsie, N.Y.

Todd Schroeder (Southern California Chapter).(People)(appointed in St. Mary Medical Center)(Brief Article)
February 1, 2005... Mr. Schroeder has been named director of reimbursement and revenue services, St. Mary Medical Center, Long Beach, Calif. He had been reimbursement manager, St. Francis Medical Center, Lynwood, Calif.

Loren Stone, MHA, CHE (Northern Pennsylvania Chapter).(People)(masters of healthcare administration, certified healthcare executive, Endless Mountains Health Systems)(Brief Article)
February 1, 2005... Mr. Stone has been named executive vice president, Endless Mountains Health Systems, Montrose, Pa. Previously, he was CFO, Barnes-Kasson County Hospital, Susquehanna, Pa.

Adam Stern (Metropolitan New York Chapter).(People)(appointed )(Brief Article)
February 1, 2005... Mr. Stern has been promoted from director of healthcare recruitment, Executive HealthSearch, Inc., Ossining, N.Y., to assistant vice president, search operations.

Spotlight on HFMA members.(People)(Healthcare Financial Management Association)
February 1, 2005... What HFMA Membership Means to Me Bernard S. Fellner, FHFMA, who for the past seven years has been a manager in the Denver Regional Office of CMS, shares with hfm his story about what HFMA membership has meant to him during his nearly 35...

Workforce commitment in health care rose significantly in 2004.(Data Trends)
February 1, 2005... The commitment of employees in the healthcare industry to their jobs rose dramatically in 2004, according to results of an annual national survey conducted by Aon Consulting's Loyalty Institute in partnership with the American Society of...

Making a difference: the financing of healthcare services in this country is out of whack.(From The President)
February 1, 2005... Just read daily newspapers or weekly magazines or trade press publications and you will come to this conclusion. These articles cite data on the rising number of uninsured individuals, increases in personal bankruptcies due to healthcare bills,...