Healthcare Financial Management articles from January 2004

Healthcare Financial Management archives from January 2004

Congress passes Medicare bill.(Policy Watch)
January 1, 2004... On November 25, the Senate approved the final version of a bill containing the broadest expansion of the Medicare program since its inception 38 years ago. The president earlier praised the compromise bill as a "good piece of legislation"...

Scully steps down from CMS.(Policy Watch)(Centers for Medicare and Medicaid Services' administrator Tom Scully resigned and Dennis Smith named as interim administrator )(Brief Article)
January 1, 2004... CMS administrator Tom Scully resigned from his post effective December 15. On December 17, HHS secretary Tommy Thompson named Dennis Smith as interim administrator of CMS. During his tenure at CMS, Scully established open-door forums for...

Psych PPS rule finally surfaces.(Policy Watch)(psychiatric prospective payment system)(Brief Article)
January 1, 2004... The long-awaited rule describing the CMS proposed Medicare psychiatric prospective payment system (PPS) was published in the November 28, 2003, Federal Register. The proposed PPS would replace the existing cost-based payment system over a...

CMS has transitioned from a paper-based to a web-based manual system.(Centers for Medicare and Medicaid Services)(Brief Article)
January 1, 2004... ... CMS has transitioned from a paper-based to a web-based manual system. As of October 1, the agency will no longer issue program memorandums. Instead, program instructions and updates to Internet manuals will be communicated electronically...

CMS has taken its home health quality initiative nationwide.(Centers for Medicare and Medicaid Services' www.medicare.gov/hhcompare/home.asp)(Brief Article)
January 1, 2004... ... CMS has taken its home health quality initiative nationwide. The Home Health Compare web site provides Information on 11 quality measures, focusing on patient activities of dally living, medical emergencies, mental health status, and...

The FASB has issued a proposed interpretation to clarify some of the provisions of Interpretation No. 46, Consolidation of Variable Interest Entities, and to exempt certain entities from its requirements.(Financial Accounting Standards Board)(Brief Article)
January 1, 2004... ... The FASB has issued a proposed interpretation to clarify some of the provisions of Interpretation No. 46, Consolidation of Variable Interest Entities, and to exempt certain entities from its requirements. The proposed interpretation...

CMS estimates that $11.6 billion in Medicare payments--or 5.8 percent of payments--were made in error in FY03, about the same as last year's rate.(Centers for Medicare and Medicaid Services)(Brief Article)
January 1, 2004... CMS estimates that $11.6 billion in Medicare payments--or 5.8 percent of payments--were made in error in FY03, about the same as last year's rate. In its analysis, CMS looked at error rates by contractor, provider type, and service type. CMS...

CMS provides EMTALA guidance to surveyors and regional offices.(Policy Watch)(Centers for Medicare and Medicaid Services)(Emergency Medical Treatment and Active Labor Act of 1985)(Brief Article)
January 1, 2004... CMS has provided interim guidance to CMS regional office staff and state survey agencies for their interpretation of hospital obligations to patients under the Emergency Medical Treatment and Active Labor Act (EMTALA). The CMS guidance...

IRS publishes brochure to explain tax-exempt status.(Policy Watch)(Internal Revenue Service)(Brief Article)
January 1, 2004... To prepare for increased enforcement efforts toward tax-exempt organizations, the IRS has issued two brochures to help organizations understand the laws and regulations of tax-exempt status and compliance guidelines. One brochure is designed to...

Senate approves Mental Health Parity extension.(Policy Watch)(Mental Health Parity Act of 1996)(Brief Article)
January 1, 2004... Congress has approved a measure to extend the provisions of the Mental Health ParityAct of 1996 an additional year. The act was due to expire December 31, 2003. Sen. Pete Domenici (R-N.M.) and Sen. Edward Kennedy (D-Mass.), cosponsors of the...

CMS issues instructions for 2004 lab fee schedule.(Policy Watch)(Centers for Medicare and Medicaid Services)(Brief Article)
January 1, 2004... CMS issued a one-time notification providing instructions for the 2004 clinical laboratory fee schedule. The 2004 annual update to the local clinical laboratory fee is 2.6 percent. The update increased the national minimum payment amount for...

States ponder 2004 outlook.(State Policy Watch)(Medical care)
January 1, 2004... Every year since 199T, the Health Policy Tracking Services has conducted a survey of state legislators, legislative staff, and executive agencies to anticipate the issues, priorities, and initiatives that may be addressed in the upcoming...

HFMA's legacy: one thing that always impress me about HFMA is its rich history and the commitment shown by its early members.(From The Chairman)(Healthcare Financial Management Association)
January 1, 2004... For example, I think of the energy and vision of leaders like Robert Shelton, who passed away recently. It is because of people like Bob that the Association is where it is today--offering rich benefits to a growing community of nearly 33,000...

GAO: number of physicians increased by 26 percent.(Industry Watch)(General Accounting Office)(Brief Article)
January 1, 2004... The number of physicians in the country increased by about 26 percent from 1991 to 2001--twice the overall population growth of the nation during the same period, according to a report by the GAO. The average number of physicians per 100,000...

Disease management programs for chronically ill address cost.(Industry Watch)(Brief Article)
January 1, 2004... Health plan enrollees in disease management (DM) programs had fewer hospital admissions and fewer emergency department visits, as well as lower overall costs, according to a November 6 report released by the American Association of Health Plans...

Healthcare futurist Coile dies.(Industry Watch)(Bussell Coile Jr.,)(Obituary)
January 1, 2004... Author and futurist Bussell Coile Jr., a recognized healthcare industry expert and speaker at healthcare conferences across the nation, died November 10 of complications from brain cancer. Colic had recently celebrated his 60th birthday. ...

Enrollment to nursing schools increasing.(Industry Watch)(Brief Article)
January 1, 2004... Enrollments in first-year baccalaureate nursing programs increased by 15.9 percent in fall 2003, almost double the 2002 percentage increase, according to a study by the American Association of Colleges of Nursing. The study compared data from...

USP: percentage of harmful medical errors declined in 2002.(Industry Watch)(United States Pharmacopeia )(Brief Article)
January 1, 2004... The percentage of reported medical errors that resulted in harm to the patient declined in 2002, the United States Pharmacopeia (USP) reported November 18. Of 192,477 medication errors documented in 2002 by MEDMARX, USP's voluntary, anonymous...

Healthcare M&A activity rises in third quarter 2003.(Industry Watch)(Brief Article)
January 1, 2004... Merger and acquisition (M&A) activity in the healthcare industry increased during the third quarter or 2003, reflecting a gradual improvement in the overall economy, according to Irving Levin Associates, Inc. The healthcare M&A market announced...

Hospital selling prices leap in October.(Industry Watch)(Brief Article)
January 1, 2004... An unprecedented 2.4 percent increase in nongovernmental payments to general medical and surgical hospitals helped the October Producer Price Index (PPI) for health services grow by 0.9 percent, following four months of modest monthly gains,...

HFMA announces 2004-05 board nominees.(HFMA News)(Healthcare Financial Management Association)(Brief Article)
January 1, 2004... HFMA has announced the nominees for the 2004-05 National Board of Directors. The nominee for Chairman-Elect for 2004-05 is Richard Rodriguez, FHFMA, assistant administrator, University Hospital, University Health System. San Antonio, Tex....

Council revises chapter charter requirement, award programs.(HFMA News)(Brief Article)
January 1, 2004... HFMA's Regional Executive Council recently approved a number of revisions to the Association's chapter charter requirements and award programs for the 2004-05 chapter year. Chapters must now conduct a financial review prior to submitting...

Winners and losers under the new and improved Medicare: they did it! We have a "new and improved" Medicare. Let's look at some of the players and how the new Medicare will benefit--or not benefit--them.(Eye On Washington)
January 1, 2004... AARP AARP has invested a good chunk of its political clout into the new Medicare law. The law is not perfect, AARP seems to say, but it's a start. We'll fix it later. The only problem with that argument is that there will be little...

10 New Year's tips for finance leaders: one New Year prediction can be made with confidence: from accessing capital to improving the revenue cycle, healthcare CFOs and other senior financial executives will face the challenge of continual change.(Special Feature)(Chief financial officers)
January 1, 2004... To help CFOs cope with this challenge, we asked some of the presenters at HFMA's forthcoming Healthcare Finance Executive Summit (February 29 to March 2 in New York) to share specific tips on how CFOs can focus their efforts and ride the waves...

Changing views about "usual charges".(Managed Care)(hospital charges)
January 1, 2004... The HHS Office of Inspector General (OIG) recently proposed a new definition of "usual charges" that--if implemented--will profoundly affect providers' payer relations and contracts with commercial managed care plans. (a) The OIG has proposed...

Some gift-giving guidance.(Medicare/Medicaid)
January 1, 2004... As the season of gift giving comes to a close, it may seem somewhat fitting for a compliance reminder about inducements to beneficiaries. More than a year ago, the OIG issued a special advisory bulletin relating to the civil money penalty...

How are hospitals financing the future? Capital spending in health care today.(Report 2: executive summary)
January 1, 2004... Financing the Future is a year-long project to help hospitals take advantage of growth opportunities. Led by HFMA in partnership with GE Healthcare Financial Services, the project will provide information, insights, strategies, and tools...

The value of employee retention: throughout my years in healthcare administration, I used to think, "life will be good if we can just re-engineer to cut expenses.".(Cover Story)
January 1, 2004... Later, I was sure it was just a question of finding ways to reduce length of stay. But then came managing vertical integration, managed care, patient safety, malpractice insurance, and the uninsured. All are very important issues. Eventually, I...

Medicare gets much-needed shot in the arm: the newly passed Medicare bill has set the nation on the right track for effectively meeting the healthcare needs of future generations.(Commentary)
January 1, 2004... Escalating costs, lack of consumer choice, poor-quality health systems, scarce information about expected outcomes, and unacceptable error rates have conspired to create broad agreement that the present healthcare delivery system is in crisis....

Five simple tools for managing labor costs: you don't need a crystal ball to predict your future staffing needs. All you need are a few simple financial tools.
January 1, 2004... How often is your hospital overstaffed when the patient census drops? How does your hospital deal with fluctuations in patient volume? Do you often wish your nursing managers had a crystal ball to help them predict volume changes and adjust...

No more chances for supply-chain savings? Look again! Many hospitals assume they have exhausted opportunities to reduce supply-chain costs. But a well-coordinated, interdisciplinary effort may still yield substantial savings.(Feature Story)
January 1, 2004... It's 's no secret. The supply chain consumes a major portion of a hospital's operating expense. For some hospitals, supply related costs (net of capital costs) constitute 25 percent or more of total operating costs. Nonetheless, you might...

Physician specialty practices strategic survival for rural hospitals: "access to health care" in rural areas usually means access to primary care. But improving access to specialty care can help rural hospitals stay alive.(Feature Story)
January 1, 2004... A cancer patient in a rural area must drive 100 miles to an urban specialty clinic for routine administration of chemotherapy. He feels loyal to his local primary care physician and hospital, and the long drive is not only time-consuming, but...

The U.S. healthcare system can be fixed.(Letters To The Editor)(Letter to the Editor)
January 1, 2004... Senator David F. Durenberger's article "Inside-Out, Bottom-Up Healthcare Reform" in the November issue of hfm offered some interesting observations that bear some comment. In particular, his discussion of "a more active role for the consumer"...

Credit balances: spotlighting a little-known area of risk and opportunity.
January 1, 2004... Credit balances--accounts on a provider's accounts receivable (AR) system that have payments and allowances exceeding total charges--are considered by some to be the "stealth aircraft" of hospital patient accounting. Difficult to identify and...

The mystery of IT strategy: strategy failures present one of the greatest risks to a significant information technology (IT) investment.(Digital Perspectives)
January 1, 2004... Typically, these types of failures occur because the link between the organization's overall strategy and its IT strategy' is poor. For example, the IT group maybe conducting world-class implementations, but these implementations do not advance...

What's a new patient worth to you?(New Revenue Growth)
January 1, 2004... Here's an easy question: How much is your organization willing to spend to acquire a new inpatient? a) $10 b) $100 c) $1,000 d) Don't know Maybe it's not such an easy question. Chances are you selected "d"--"don't know."...

Managed Care: What It Is and How It Works.(Brief Article)
January 1, 2004... Managed Care: What It Is and How It Works offers an easy-to-read explanation of the history, current approaches, regulations, and future direction of managed health care. It also provides readers with a clear explanation or the reasons for...

Managing HIPAA Compliance.(Brief Article)
January 1, 2004... Healthcare providers, administrators, and scholars have all lamented over the complexity of HIPAA and the associated costs of implementing and administering its regulations. In Managing HIPAA Compliance: Standards for Electronic Transmission,...

Calendar.(Health care industry, Seminars)(Calendar)
January 1, 2004... HFMA's Educational Calendar is always at your fingertips at www.hfma.org/education. Many of the courses offered in our seminar series are also available at your location in a customized format for large or small groups. Inquires regarding...

Michael J. Christensen recently retired as a member of Ropes & Gray's Health Care Croup, San Francisco.(People)(Brief Article)
January 1, 2004... Michael J. Christensen, CPA (Northern California Chapter) Mr. Christensen recently retired as a member of Ropes & Gray's Health Care Croup, San Francisco. He has been a member of HFMA For more than 30 years and held leadership positions in...

Houston Baptist University.(People)(Ray G. Newman )(Brief Article)
January 1, 2004... Dr. Ray G. Newman (Louisiana Chapter) Dr. Newman has been named dean and professor, Brown Chair of Business and Economics, Houston Baptist University, Houston. Previously, he was vice chancellor of administration and finance, Tulane...

Merrill Lynch Capital.(People)(David G. Moore )(Brief Article)
January 1, 2004... David G. Moore (Washington Metropolitan Chapter) Mr. Moore has joined Merrill Lynch Capital, Washington, D.C., as director. He had been senior vice president/leader, asset-based lending segment, GE Healthcare Financial Services. Bethesda,...

Catholic Healthcare Audit Network.(People)(Brief Article)
January 1, 2004... Carl Biber, CPA (Kentucky Chapter) Mr. Biber has been promoted from manager, audit and consulting services, to senior manager, audit and consulting services, Catholic Healthcare Audit Network, Louisville, Ky.

Carolinas Healthcare System.(People)(Sara Heron)(Brief Article)
January 1, 2004... Sara Heron, RN, BSN, RHIT (North Carolina Chapter) Ms. Heron has been named director, corporate compliance, Carolinas HealthCare System, Charlotte, N.C. She had been director, utilization management, Catawba Valley Medical Center, Hickory,...

An Appalachian adventure.(Spotlight On HFMA Members)(Brief Article)
January 1, 2004... David Richards, a member of HFMA's Texas Gulf Coast Chapter, recently accomplished a feat that many of us only dream of undertaking: He hiked the full 2,164-mile length of the Appalachian Trail, from Maine to Georgia. But there's an added...

E/M code analysis can promote optimum ED payment.(Data Trends)(emergency department)(Brief Article)
January 1, 2004... What data should you review to verify that your facility is receiving appropriate payment for emergency department (ED) services? You should start by looking at the distribution of evaluation and management (E/M) codes. Comparing your...

A New Year's resolution: stop the clock: this year, my New Year's resolution is simple and easy to implement. There's just too much to do each other, so I'm going to stop the clock.(From The President)
January 1, 2004... Just imagine the benefits: I'll be able to answer my e-mail and voice-mail messages before new ones arrive. I'll be able to clear my in box before new mail stacks up. I'll be able to prepare for every meeting. I'll be able to read all the...

Welcome to the Resource Guide!
January 1, 2004... Dear Healthcare Finance Professional: HFMA is pleased to present you with the 2004 hfm Resource Guide, an abundant listing of products and services of more than 1,ooo vendors of interest to healthcare financial managers. With this...

HFMA profile.(Healthcare Financial Management Association)(Company Profile)
January 1, 2004... The Healthcare Financial Management Association (HFMA) is the nation's leading personal membership organization for healthcare financial management professionals. HFMA brings perspective and clarity to the industry's complex issues for the...

HFMA direct line.(Healthcare Financial Management Association)(Directory)(Illustration)
January 1, 2004... Have a question? HFMA Direct Line gets you in touch with the right person the first time. Call (800) 252-4362 to reach the following extensions. National Advisory Councils All inquiries Heather Etheridge ...

HFMA chapters: the heart of the association.(Healthcare Financial Management Association)(Directory)
January 1, 2004... When you join HFMA, you not only join the national association; you also get free membership in one of HFMA's 70 chapters. Local chapter membership brings the benefits of membership home with newsletters, networking, and targeted education. For...

HFMA congratulates the 2002-03 Davis Chapter Management System award recipients.(Healthcare Financial Management Association)
January 1, 2004... The Robert M. Shelton Award for Sustained Excellence THE EASTERN MICHIGAN CHAPTER 2002 2003 Diane S. Justewiez, FHFMA 2001-2002 Michael A. Tomkovich, CPA 2000-200l ...

2004 HFMA seminars and meetings.(Healthcare Financial Management Association)(Calendar)
January 1, 2004... Educational Events Feb. 23-26 San Antonio Cluster San Antonio Feb. 29 March 2 Health Care Finance--The Executive Summit New York, N.Y. March 15-18 New Orleans Cluster New Orleans April 21-22 ...

The Resource Center: information for healthcare financial professionals: HFMA's Resource Center is a key membership benefit designed to make your job easier.(Healthcare Financial Management Association)
January 1, 2004... By logging on to www.hfma.org/resource, you can browse and download summaries of key regulations, compliance checklists, HIPAA implementation tools, and more. HFMA members enjoy unrestricted, free on-line access to all of the content of...

www.hfma.org: the ultimate HFMA resource: HFMA's web site, www.hfma.org, offers a wealth of information 24 hours a day, seven days a week.(Healthcare Financial Management Association)
January 1, 2004... Services provided through the web site can help healthcare financial managers achieve certification, get a new job, obtain salary information, connect with other financial professionals in health care, and stay updated on federal regulations....

Healthcare administration on the web.
January 1, 2004... Whether you're looking for data, people, regulations, or additional resources, the web is a good place to start. The following web sites include a variety of organizations of interest to healthcare finance professionals and others involved in...

The healthcare financial manager's library: today's healthcare challenges require financial managers to have not only technical knowledge, but also strategic insight and leadership skills.
January 1, 2004... Following are a few of the books available to help both new and seasoned healthcare financial managers hone these key skills. 2004 ICD-9-CM Professional for Hospitals, Volumes 1, 2, & 3 Ingenix, 2003 These volumes feature the current...

HFMA newsletters help you find solutions.(Healthcare Financial Management Association)
January 1, 2004... Whether you're looking for ways to maintain regulatory compliance or tips for achieving top operational performance goals, you'll find solutions in three information-packed newsletters published by HFMA. A one-year subscription will bring 12...

HFMA forums: real-world connections, ideas, and solutions: HFMA has established four members--only Forums, networking groups that focus on unique interests and issues facing senior finance executives and managed care, healthcare compliance, and patient financial services (PFS) professionals.(Healthcare Financial Management Association)
January 1, 2004... Each HFMA Forum is designed to expand the resources available to healthcare finance professionals, offering tools and practical knowledge that easily translate into real-world solutions for the healthcare finance industry. CFO Forum:...

hfm sets a bold course for 2004: from strategic planning to cost management, from technology to the revenue cycle, hfm magazine is the indispensable resource for healthcare finance professionals. The following editorial calendar highlights the key topics to be covered in hfm in 2004.
January 1, 2004... January Workforce Issues Workforce shortages are intensifying, from nursing to PFS staff', from boards to coders, with clear effect on both the bottom line and quality of care and service. This issue will assess the shortages and...

New project provides information, tools to enhance capital access.
January 1, 2004... From growth in patient volume to aging plants, from technological innovations to desire for competitive advantage, hospitals' demand for capital is more acute than ever. And that demand will only intensify. Yet a challenging financial climate...

Perspectives on the revenue cycle: insights and resources for revenue-cycle leaders.
January 1, 2004... The turn of the millennium brought a revolution for healthcare financial professionals: we discovered the revenue cycle. It wasn't as if we didn't always recognize the complexity of health care and the processes necessary to keep a...

Are you paying your PA staff what they deserve?(patient access)
January 1, 2004... Patient access (PA) personnel often are the first people a patient encounters in a hospital. This encounter can have a significant effect on the patient's perception of the organization--a good impression can go a long way toward building...

Implementing a proactive rejection strategy.
January 1, 2004... It is commonly understood today that a denial-prevention program is the first line of defense against the expensive rework and lost revenue associated with third-party payment denials. Indeed, most providers have instituted some kind of denial...

Recognizing the human element in the revenue cycle.
January 1, 2004... Revenue-cycle redesign is an evolution, not a revolution. Healthcare financial professionals in recent years have increasingly come to understand the revenue-cycle as an overarching process affecting every aspect of their organizations. The...

Capitalizing on HIPAA.
January 1, 2004... The HIPAA transaction sets promise to be a boon for revenue-cycle leaders. Although health plans have exhibited varying degrees of compliance, the mandate to implement standard claims processes is the paradigm shift providers have been waiting...

Holding payers accountable for payment practices.
January 1, 2004... What do you do about payers that repeatedly exhibit abusive payment practices? For example, how do you respond to payers that use delay tactics, perfunctorily denying claims on first submission only to eventually pay them, without changes,...

Assess your personal performance with key performance measures.
January 1, 2004... "What have you done for me lately?" How often does someone ask us that question-whether in jest or sincerity, or perhaps even with a note of sarcasm? You could say that the question is implicit in our daily working relationships with...

Reliable Medical Necessity content from Info-X.(hfm Product/Service Mart)
January 1, 2004... Info-X's integrated Medical Necessity solutions help hundreds of hospitals reduce claim denials, ensure regulatory compliance and achieve dramatic bottom-line improvement. Healthcare software vendors, service organizations and physician groups...

Med-Data Management, Inc.(hfm Product/Service Mart)
January 1, 2004... Software and consulting solutions that impact your bottom line: Software: PostLink[TM] Remittance Management: * APC Payment Manager * Interactive Claims Denial Manager * CMG Payment Manager * Outlier Payment Manager...

Progressive Healthcare, Inc.(hfm Product/Service Mart)
January 1, 2004... Progressive Healthcare provides healthcare facilities/providers with revenue cycle and physician practice consulting services. We customize our approach and develop specific performance targets for each client. Our services include: ...

Precyse Solutions--one stop for all HIM service needs.(hfm Product/Service Mart)
January 1, 2004... Need help in improving cash flows because of never ending transcription and coding backlogs? We can help. Want to reduce operating expenses and streamline paper flow processes? Highly trained consultants and staff will implement solutions...

Accordis.(hfm Product/Service Mart)
January 1, 2004... Accordis delivers business office and reimbursement services to public end private hospitals nationwide. We offer proprietary technology, expertise in payor programs, and patient accounting know-how. Accordis helps hospitals increase revenue,...

Vendor listing.(Accounting/Auditing Services--Computer Software)(Illustration)
January 1, 2004... Product and Service Categories Category Name page Accounting/Auditing Services 57 Appraisal/Valuation Services 59 Benchmarking Data Services 60 Capital Equipment...

Vendor listing.(Consulting Services-Executive Search Firms/Staffing)(Directory)
January 1, 2004... Consulting Services 3M Health Information Systems 575 W. Murray Boulevard Murray, UT 84123 415/721-0644, Fax: 415/721-0665 www.3mhis.com One hundred percent of 3M Consulting's business is in health care, Our team of...

Vendor listing.(Facilities Design and Construction-Patient Accounts Management/Business Office)(Directory)
January 1, 2004... Alberici Healthcare Constructors 2150 Kienlen Avenue St. Louis, MO 63121 800/261-2611, Fax: 314/261-4225 AMDC Corporation 10 S. Riverside Plaza, Suite 2290 Chicago, IL 60606 888/782-2632, Fax: 312/756-9301 ...

Vendor listing.(Patient Record Products/Services-Time and Attendance Systems)(Directory)
January 1, 2004... 3M Health Information Systems 575 W. Murray Boulevard Murray, UT 84123 415/721-0644, Fax: 415/721-0665 www.3mhis.com 3M Health Information Systems is an international leader in clinical information management, with products...