Healthcare Financial Management articles from January 2005

Healthcare Financial Management archives from January 2005

Welcome to the 2005 resource guide!
January 1, 2005... Dear Healthcare Finance Professional: HFMA is pleased to present you with the hfm 2005 Resource Guide, our annual listing of products and services of more than 1,300 vendors that provide products and services you will want to know about....

HFMA profile.(Company Profile)
January 1, 2005... 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.(Illustration)
January 1, 2005... HFMA Direct Line Have a question? HFMA Direct Line gets you in touch with the right person the first time. National Advisory Councils All inquiries Heather Etheridge 304 Annual National...

HFMA chapters: bringing home the benefits of membership.
January 1, 2005... 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. ...

HFMA congratulates the 2003-04 Davis chapter management system award recipients.
January 1, 2005... The Robert M. Shelton Award for Sustained Excellence IOWA CHAPTER Tracy D. Warner 2003-2004 Paul O. Mangin. FHFMA, CPA 2002-2003 Michelle L. Hartzler-Combs, CHFP 2002-2002 Bob J. Sharer, FHFMA ...

2005 HFMA seminars and meetings.(Calendar)
January 1, 2005... Educational Events March 6-8 The Uninsured, Your Community, Your Role as Financial Leader Phoenix March 14-17 San Francisco Cluster San Francisco Seminar topics to be announced April 11-14 Alexandria...

HFMA's online Resource Center ideas that work are just a click away.(www.hfma.org)
January 1, 2005... HFMA's online Resource Center is a key membership benefit that makes your job easier. How? The experience of Nancy C. Bell, FHFMA, Vice President, Healthcare Finance & Insurance Hospital and Healthsystem Association of Pennsylvania Harrisburg,...

www.hfma.org the ultimate HFMA resource.
January 1, 2005... HFMA's web site, www.hfma.org, offers a wealth of information 24 hours a day, seven days a week. Services provided through the web site can help healthcare financial managers achieve certification, get a new job, obtain salary information,...

Healthcare administration on the web.
January 1, 2005... 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.
January 1, 2005... Today's healthcare challenges require financial managers to have not only technical knowledge, but also strategic insight and leadership skills. Following are a few of the books available to help both new and seasoned healthcare financial...

Tips, strategies, and insights you can use.(HFMA Newsletters)
January 1, 2005... 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 to each...

Achieving results through collaboration.(HFMA Forums)
January 1, 2005... HFMA offers four professional communities for members who are looking for an HFMA experience tailored to their interests: * The Patient Financial Services (PFS) Forum * The Chief Financial Officers (CF0) Forum * The Managed Care...

Hfm: keeping you connected through 2005.(Healthcare Financial Management Healthcare Financial Management Healthcare Financial Management)
January 1, 2005... Each month, hfm magazine provides you with practical and insightful information you can use to solve problems and improve performance. You will find how-to articles, tools, commentaries, and industry news tailored to your needs to help you stay...

HFMA offers third party evaluation through Peer Review.
January 1, 2005... HFMA members now have an objective source for finding out more about a product or service. HFMA's Peer Review Process is designed to provide healthcare financial managers with a third-party evaluation of products or services used specifically...

HFMA e-learning lessons train front-line staff to avoid claims denials.
January 1, 2005... CFOs speak with one voice about the key to economic well-being for hospitals: cash. Hospitals that are liquid and profitable have much more ability to compete, to provide high-quality care and service, and to invest in the future. One way...

Supply chain, IT, and physician relations: CFOs speak out on major issues facing today's hospital financial executives.(Special Section)(Chief Financial Officer)
January 1, 2005... What are the most important challenges you face every door as a healthcare financial leader? HFMA asked seven senior healthcare financial, executives from across the United States about some of the biggest issues requiring their attention....

Vendor listing.(Accounting/Auditing Services-Compliance/Fraud & Abuse)
January 1, 2005... Accounting/Auditing Services Advantium 105 Executive Parkway, Suite 100 Hudson, OH 44236 800/807-4603, Fax: 330/656-3773 American Medical Review, Inc. 2980 Hartley Road, Suite 1 Jacksonville, FL 32257 800/576-6966,...

Vendor listing.(Computer Software-Contract Management Services)
January 1, 2005... A4 Health Systems 5501 Dillard Drive Cary, NC 27511 888/672-3282, Fax: 919/851-6177 Also see our listing on page 134. Accenx Technologies, Inc. 7 Corporate Park, Suite 160 Irvine, CA 92606 949/838-0085, Fax:...

Vendor listing.(Decision Support Systems/Services-Healthcare Publications)
January 1, 2005... 3M Health Information Systems 575 W. Murray Boulevard Murray, UT 84123 800/367-2447, Fax: 801/263-3658 www.3mhis.com 3M Health Information Systems provides sophisticated tools and services to capture, classify, and...

Vendor listing.(Home Care Products/Services-Patient Record Products/Services)
January 1, 2005... 3M Health Information Systems 575 W. Murray Boulevard Murray, UT 84123 800/367-2447, Fax: 801/263-3658 www.3mhis.com 3M Home Health Systems' integrated home care management system provides a wide range of standard report...

Vendor listing.(Physician Practice Acquisitions Services-Time and Attendance Systems)(Directory)
January 1, 2005... Physician Practice Acquisitions Services Hennessy Consulting Inc. 1217 Hull Terrace Evanston, IL 60202 847/864-3140, Fax: 847/864-2736 The Scheye Group Ltd. 773/989-9315 Physician Practice Management A4 Health...

Pay-for-performance is far from a certainty.(Letters To The Editor)(Letter to the Editor)
January 1, 2005... In their article "New Reimbursement Models Reward Clinical Excellence" (hfm, November 2004, p. 88), Karen Corrigan and Robert Ryan predict that pay-for-performance, clinically based payment models will sweep health care within five to 10 years....

Psych PPS implementing instructions issued.(Policy Watch)(Prospective payment systems)(Brief Article)
January 1, 2005... On December 1, fiscal intermediaries received payment processing instructions for implementation of the Medicare inpatient psychiatric facility PPS, which goes into effect with cost reporting periods starting on or after January 1, 2005. ...

Expedited review rule creates new provider responsibilities.(Policy Watch)(Brief Article)
January 1, 2005... CMS has published regulations for implementing new expedited Medicare determinations and reconsiderations associated with provider discharges and service terminations. The regulations are outlined in a final rule with comment period, published...

Savings play large role in proposed ASC list changes.(Policy Watch)(ambulatory surgical center)(Brief Article)
January 1, 2005... CMS expects to realize substantial program savings through proposed changes to the Medicare ambulatory surgical center list of procedures, published November 26, 2004. The agency pro poses deleting 105 procedures and adding 25 more. The...

HHS leaders reiterate IT is a top priority.(Policy Watch)(Health and Human Services)(Brief Article)
January 1, 2005... Addressing a meeting in Washington D.C., November 30, 2004, CMS administrator Mark McClellan, David Brailer, head of the Office of the National Coordinator for Health Information Technology, and Carolyn Clancy, director of the Agency for...

SEC delays deadline for small issuers' internal controls reports.(Policy Watch)(Brief Article)
January 1, 2005... The Securities and Exchange Commission extended the deadline by 45 days for internal controls reporting for smaller issuers. The SEC stated that it was sensitive to resource constraints at accounting firms and smaller public companies. The...

Ambulance services: no change in 2005 conversion factor.(Policy Watch)(Brief Article)
January 1, 2005... CMS has set the inflation factor for Medicare ambulance payments at 3.3 percent and made no change to the conversion factor used to determine 2005 fee schedule rates, according to a November 15 Federal Register notice. CMS estimates a 3 percent...

CMS plans to assist physicians with EHRs.(Policy Watch)(electronic health record)(Centers for Medicare and Medicaid Services)(Brief Article)
January 1, 2005... CMS intends to motivate the private sector to make electronic health record systems more affordable and build on work done by the Leapfrog Group and H[L.sub.7] on standards for the components of EHR systems, officials told participants of a...

CMS issued the annual update for durable medical equipment, prosthetics, orthotics, and supplies in a November 19 transmittal.(Centers for Medicare and Medicaid Services)(Brief Article)
January 1, 2005... CMS issued the annual update for durable medical equipment, prosthetics, orthotics, and supplies in a November 19 transmittal. The update reduces certain DME payments by an amount equal to the percentage difference between 2002 Medicare fee...

Chapter 25, Section 60 of the Medicare Claims Processing Manual is being revised.(Brief Article)
January 1, 2005... Chapter 25, Section 60 of the Medicare Claims Processing Manual is being revised to include the new condition and value codes to be used when completing form CMS-1450, CMS announced in transmittal 368, dated November 12, 2004. To read the...

No increase for CY05 clinical laboratory update.(Brief Article)
January 1, 2005... The annual Medicare update to the 2005 local clinical laboratory fees is 0 percent, according to CMS instructions to fiscal intermediaries and carriers published November 5. In the transmittal conveying the instructions, CMS also updates...

McClellan on IRFs: FIs report no problems.(Policy Watch)(Mark McClellan)(Fiscal Intermediaries)(Inpatient Rehabilitation Facilities)(Brief Article)
January 1, 2005... On November 18, 2004, CMS administrator Mark McClellan responded to concerns expressed by Sen. Charles Grassley, R-Iowa, Senate Finance Committee chairman, about the effects of the 75 percent rule on inpatient rehabilitation facilities....

Vendor partnerships contribute to HFMA success: what does "Peer Reviewed by HFMA" mean for you?(From The Chairman)(Healthcare Financial Management Association)
January 1, 2005... One important reason for HFMA's continued success, year after year, is its dedicated, enthusiastic volunteer base. Not as readily recognized are HFMA vendor partners that provide much needed resources, advice, and counsel and are vital to our...

Study finds consumers concerned about healthcare safety.(Industry Watch)(Brief Article)
January 1, 2005... Despite efforts by hospitals, physicians, health plans, and purchasers to reduce medical errors and improve the quality of health care, Americans say they do not believe that the nation's quality of care has improved, according to a new survey...

Consumer medical prices continue moderate growth trend.(Brief Article)
January 1, 2005... Consumers' out-of-pocket costs for medical care rose 0.3 percent in October 2004, the seventh straight month of moderate growth (before seasonal adjustment), according to the latest data from the Bureau of Labor Statistics. Consumer medical...

Uncompensated care costs grow to $25 billion.(Industry Watch)(Brief Article)
January 1, 2005... U.S. hospitals provided $24.9 billion of uncompensated care in 2003, an increase of $2.6 billion over 2002, the American Hospital Association reports. This figure, which represented 5.5 percent of total hospital expenditures in 2003, is the...

New report analyzes how new Medicare drug benefit could affect out-of-pocket spending.(Brief Article)
January 1, 2005... The Kaiser Family Foundation report, using a model developed by the Actuarial Research Corporation, assesses the likely effects of low-income subsidies, the number and characteristics of people falling into the "doughnut hole" in coverage, and...

Health plans expand web-site functionality.(Industry Watch)(Brief Article)
January 1, 2005... A majority of health plans have expanded online services for providers, physicians and their staffs, and other constituencies, according to a study released November 10 by Capgemini US LLC. While enrollees are the plans' focal point, plans...

Study: more nurses, but continued shortage.(Industry Watch)(Brief Article)
January 1, 2005... Wage increases, high national unemployment, and positive results from private-sector initiatives made 2003 the second straight year of strong employment growth among registered nurses, according to a November Health Affairs article. The...

Study: primary care specialists play critical role.(Industry Watch)(Brief Article)
January 1, 2005... Americans made an estimated 890 million physician visits in 2002, and a majority of those visits were to primary care specialists, according to the latest annual report from CDC's National Ambulatory Medical Care Survey, a report of medical...

MedPAC: heart hospitals have slight impact on community hospitals.(Brief Article)
January 1, 2005... Heart hospitals are capturing market share from community hospitals, but the profit margins of neighboring community hospitals were not hurt by competition from the heart hospitals, according to a November 17 report of research presented to the...

Healthcare revenues on the rise.(Industry Watch)(Brief Article)
January 1, 2005... Revenues for the nation's healthcare and social assistance industries rose 7 percent to $1.3 trillion in 2003, according to a U.S. Census Bureau survey reported November 22. The survey found that: * Hospital revenues in 2003 reached $536...

Quotes of note.(Industry Watch)
January 1, 2005... "These have been four challenging years filled with unexpected tragedies, but we have successfully seized on these opportunities to turn tragedy into triumph and problems into solutions, making our country and world healthier places in the...

Survey: physicians find business of medicine challenging.(Industry Watch)(Brief Article)
January 1, 2005... A new Medical Practice Monitor survey by OPEN from American Express found that physicians devote more time than they would like to spend managing the business of their practices. Sixteen percent of physicians say this constraint on their time...

HFMA announces 2005-06 board nominees.(HFMA News)(Healthcare Financial Management Association)(Brief Article)
January 1, 2005... HFMA has announced the nominees for the 2005-06 National Board of Directors. Board elections will occur April 18, 2005. The nominee for Chairman-Elect for 2005-06 is Joseph J. Fifer, FHFMA, CPA, vice president of hospital finance, Spectrum...

E-learning program receives ASTD recognition.(HFMA News)(American Society of Training & Development )(Brief Article)
January 1, 2005... HFMA's e-learning partner, MC Strategies, recently had its online library recognized by the American Society of Training & Development for meeting ASTD's e-learning courseware certification standards based on compatibility, interface....

HFMA answers your e-mail questions.(HFMA News)(Healthcare Financial Management Association)
January 1, 2005... From time to time, members express interest in the ways HFMA manages e-mail services and account information. The following provides answers to most frequently asked questions. Why does HFMA National send e-mail? It is the most...

Privatizing Social Security: can Medicare be far behind? I can't help but wonder how many people, particularly America's senior citizens, who voted in the 2004 election for George W. Bush realized they were voting to privatize Social Security.(Eye On Washington)
January 1, 2005... Although he rarely mentioned the idea during the campaign and never suggested it during the debates or public forums. George Bush wasted no time in announcing on November 5--just three days after his narrow victory over John Kerry his plans to...

Top 10 revenue cycle mistakes.(Revenue Cycle)
January 1, 2005... By some estimates, hospitals are losing 3 percent to 5 percent of their net revenue from inadequate revenue cycle management. For the average 300-bed hospital, this could mean revenue losses of $4.5 million to $9 million each year--often the...

Harnessing the power of e-commerce to reduce denials.
January 1, 2005... How pervasive is the problem of healthcare claims denials? Very pervasive: One out of seven claims needs rework, resubmission, and possibly appeal by providers. How expensive is this problem? Very expensive: A hospital with $100 million in...

How does your IT department stack up? Not sure how your hospital's IT department rates? Examining several key processes can help lead you to top performance.(Cover Story)
January 1, 2005... When it comes to racehorses, you've got your derby winners, your average contenders, and those that should be put out to pasture. So, too, is it with the quality of hospital IT departments. A few departments are stellar in their acquisition...

Returns, not burns: how to ensure successful health IT investments.(feature story)
January 1, 2005... When it comes to investing in health IT, one rule is paramount: never proceed without clearly articulating the types of financial and nonfinancial returns you expect to achieve. in*vest Function: verb 1: to commit (money) in order...

Five steps to electronic health record success: no electronic health record will fulfill its promises if implementation fails. And for a successful implementation, the process must begin internally.(Feature Story)
January 1, 2005... "This change is afoot. We're all locked on, and we're not going to let go until it gets done."--David Brailer, MD, PhD, national coordinator for health information technology Because of the high cost and potential financial benefit to the...

The Kaiser Permanente IT transformation: the vision of transforming business processes by using technology to connect medical records with revenue cycle operations is becoming a reality.(Feature Story)(Company Profile)
January 1, 2005... Imagine connecting medical records for millions of patients to billing, registration, and scheduling areas for a truly connected health information system. Imagine the efficiencies to be gained in patient care. Imagine the savings in operating...

Way to go live a framework for new IT implementation: the best way to ensure success in purchasing and implementing a new health IT system is to approach every step systematically.(Feature Story)(Information technology)
January 1, 2005... The U.S. healthcare industry will spend upward of $61 billion on health IT systems in 2004, up from about $55 billion in 2003, according to research by Cambridge, Mass.-based Forrester. A recent report by Scottsdale, Ariz.-based instat/MDR says...

IT department report card.(HFM Toolbox)(Information technology)
January 1, 2005... The report card on the preceding page illustrates a shorthand method for grading the performance of your hospital's IT department. It is intended to give hospital executives an easy way to rate their IT organization compared with national...

Budget reality: it's up to you: by the time this column goes to print, most hospitals and health systems will be well into the 2005 budget year and may already be getting hit by nasty "financial surprises.".(Leadership And Management)
January 1, 2005... How is it possible for a hospital to finish one year safely in the black, then suddenly have negative operating results in a matter of months? Is this really a surprise that hits with no warning? Or are there signs that simply get overlooked in...

More on management's role in IT project failures: the failure rate of IT projects is quite high. Significant budget and timeline overruns, underdelivery of value, and the outright termination of a project before completion are all forms of failure.(Digital Perspectives)
January 1, 2005... Projects fail for many reasons, but often failure can be the result of the actions and inactions of senior leadership. October's column discussed several factors that can cripple projects, such as unclear purpose, insufficient support from...

Misplaced expectations make for marketing missteps: is health care like other U.S. businesses that seem to be long on marketing expectations and short on patience for marketing results? A new report suggests that it could be true..(New Revenue Growth)
January 1, 2005... In 2004, the Society for Healthcare Strategy and Market Development of the American Hospital Association published Impact Marketing: Optimizing Value and Return on Investment, by The Strategy Group, which included the results of a highly...

Kreg Information Systems: guaranteed ROI with contract/ claims management process improvement.(return on investment)(Advertisement)
January 1, 2005... Do you have a contract management system that accurately calculates expected payments for all payers? Have you allocated an FTE to operate your contract management system? Do you have a clear understanding of why your denials increase? During...

Getting to Great: Principles of Health Care Organization Governance.(Bookshelf)
January 1, 2005... Getting to Great: Principles of Health Care Organization Governance is a guide to help healthcare governing boards achieve optimal performance. Its main focus is establishing a structure for guidance based on a specific set of principles and...

Spring 2005 seminars.(Calendar)
January 1, 2005... Spring 2005 Seminars Level Seminar March 14-17 San Francisco Financial Management I/A Achieving Breakthrough...

Nebraska Hospital Association.(People)(David Burd joins as finance director)(Brief Article)
January 1, 2005... David Burd (Nebraska Chapter) Mr. Burd has joined Nebraska Hospital Association, Lincoln, Neb., as director of finance. Formerly, he was an accountant, BryanLGH Medical Center, in Lincoln.

Gateway Regional Health System Mary Chiles Hospital.(People)(Charlotte Lane appointed as vice president)(Brief Article)
January 1, 2005... Charlotte Lane (Kentucky Chapter) Ms. Lane has been appointed vice president. clinical services, Gateway Regional Health System Mary Chiles Hospital, Winchester. Ky. She had been administrator, radiation ontology, UK Hospital, Lexington,...

The Methodist Hospital System.(People)(Daniel Pantera appointed as vice president)(The Methodist Hospital System)(Brief Article)
January 1, 2005... Daniel Pantera, CPA, CIA (Texas Gulf Coast Chapter) Mr. Pantera has been appointed vice president, internal audit, The Methodist Hospital System, Houston. Previously, he was vice president, strategic performance, Bon Secours Health System,...

MountainView Hospital.(People)(Joseph Richmond joins as chief financial officer)(Brief Article)
January 1, 2005... Joseph Richmond (Virginia Chapter) Mr. Richmond has been appointed CFO, MountainView Hospital, Las Vegas. He had been controller, CJW Medical Center, Richmond, Va.

Lillian Kloock & Associates.(People)(Terri D. Tillery appointed as director for accounts)(Brief Article)
January 1, 2005... Terri D. Tillery (Georgia Chapter) Ms. Tillery, current Georgia HFMA president, has been appointed director of national accounts for Lillian Kloock & Associates, Atlanta. Previously, she was director of business development, new service...

Community Health Center of Southeastern Iowa, Inc.(People)(Cristine L. Julian joins as chief financial officer)(Brief Article)
January 1, 2005... Cristine L. Julian, FHFMA (Iowa Chapter) Ms. Julian has joined Community Health Center of Southeastern Iowa, Inc., Burlington, Iowa, as CFO. Formerly, she was senior financial analyst, St. Joseph Health System, Orange, Calif.

Cheshire Medical Center.(People)(Jill I. Batty joins as chief financial officer)(Brief Article)
January 1, 2005... Jill I. Batty, FHFMA, CPA (Western Pennsylvania Chapter) Ms. Batty has been named senior vice president, CFO, Cheshire Medical Center, Keene, N.H. Formerly, she was vice president, finance, West Penn Allegheny Health System, Pittsburgh.

Hot Spring County Medical Center.(People)(Donna Bunn joins as accountant)(Brief Article)
January 1, 2005... Donna Bunn (Arkansas Chapter) Ms. Bunn has joined Hot Spring County Medical Center, Donaldson, Ark., as staff accountant. She had been accounting supervisor, St. Joseph's Mercy Health Center, Hot Springs, Ark.

Healthlink Incorporated.(People)(Jason Bray joins as consultant)(Brief Article)
January 1, 2005... Jason Bray (Oklahoma Chapter) Mr. Bray has joined Healthlink Incorporated, Houston, as consultant, strategic services. Formerly, he was IT controller, INTEGRIS Healthcare, Oklahoma City.

Wilson Medical Center.(People)(Aaron Clutter joins as systems analyst)(Brief Article)
January 1, 2005... Aaron Clutter (Central Ohio Chapter) Mr. Clutter has joined Wilson Medical Center, Wilson, N.C., as systems analyst. Previously, he was financial analyst, Berger Health Systems, Circleville, Ohio.

Sister of the Holy Cross.(People)(Sisters of the Holy Cross names Sister Geraldine Hoyler treasurer)(Brief Article)
January 1, 2005... Sister Geraldine Hoyler, FHFMA, CPA (Indiana Pressler Memorial Chapter) Sister Hoyler has been named general treasurer, Sisters of the Holy Cross, Notre Dame, Ind. Formerly, she was senior vice president, finance and treasury, Catholic...

Supply costs dominate high-cost DRGs.(Data Trends)(Diagnosis-Related Group)
January 1, 2005... DRG assignment is a primary factor in determining hospital payment for inpatient services provided to Medicare beneficiaries. An analysis of the percentage of the total costs of certain DRGs that is consumed by supplies shows the importance of...

An opportunity for leadership: it's not easy to live your professional life under a microscope. Yet that is often the state for healthcare financial managers.(From The President)
January 1, 2005... The most recent--and in many ways the most intense--scrutiny of healthcare financial management surrounds the uninsured. Based on the media coverage, some consumers may falsely--but understandably--conclude that the real problems are...

Management solutions for combating workforce shortages.
January 1, 2005... Optimists could argue that the hospital workforce shortage--at least in nursing--seems to be waning. More than 100,000 RNs were added to hospital payrolls in 2002. Applications to nursing schools are also up--so much so that 5,000 qualified...

Strategic planning for Healthcare IT.(Special Advertising Section)(Advertisement)
January 1, 2005... Did you hear the one about the hospital that planned to save $125,000 a month in nursing costs by computerizing medical administration records and ended up, instead, having to hire a systems analyst with a nursing degree to set the system up?...