Healthcare Financial Management articles from July 2004

Healthcare Financial Management archives from July 2004

Proposed inpatient PPS rule offers more dollars, more complexity.(Policy Watch)(Brief Article)
July 1, 2004... On May 11, CMS issued the Medicare FY05 hospital inpatient PPS proposed rule, providing additional financial relief to rural hospitals and, for the first time in the history of Medicare, creating a direct link between the quality of services...

CMS answers important questions on uninsured.(Policy Watch)
July 1, 2004... CMS officials provided some important clarifications on issues such as discounts and indigency policy during a June 1 CMS Open Door Forum teleconference on billing the uninsured and underinsured. During the forum, which attracted more than...

Home health to get 2.5 percent increase in CY05.(Policy Watch)(Brief Article)
July 1, 2004... Medicare PPS payments to home health agencies would increase by 2.5 percent for 2005, under a proposed rule issued by CMS on May 28. The proposed rule would make the higher payments effective January 1, 2005, implementing the home health update...

2005 Medicare Advantage payment rates include risk factors.(Policy Watch)(Brief Article)
July 1, 2004... On May 10, CMS released Medicare Advantage (MA) payment rates for 2005 that are more closely tied to the "risk" or expected cost of enrollees. Under the Medicare Prescription Drug, Improvement, and Modernization Act (MMA), 80 percent of the...

CMS coding changes issued.(Policy Watch)(Brief Article)
July 1, 2004... CMS issued three transmittals on May 7 that add and correct codes affecting payments for physicians, suppliers, and other providers. Transmittal 171 contains the July quarterly update for the 2004 durable medical equipment, prosthetics,...

... The HHS Office for Civil Rights (OCR), which is responsible for implementation of the HIPAA privacy rule, has announced the creation of an e-mail mailing list to distribute announcements, notices of available resources, and other educational information about the rule.(Brief Article)
July 1, 2004... ... The HHS Office for Civil Rights (OCR), which is responsible for implementation of the HIPAA privacy rule, has announced the creation of an e-mail mailing list to distribute announcements, notices of available resources, and other...

... The fee charged to practitioners who request information about themselves (self-query) from the National Practitioner Data Bank has decreased from $10 to $8, the Health Resources and Services Administration announced in the May 24 Federal Register.(Brief Article)
July 1, 2004... ... The fee charged to practitioners who request information about themselves (self-query) from the National Practitioner Data Bank has decreased from $10 to $8, the Health Resources and Services Administration announced in the May 24 Federal...

SNF residents have special drug card options.(Policy Watch)(Brief Article)
July 1, 2004... Enrollment in Medicare's drug program is relatively straightforward for most beneficiaries, but residents of skilled nursing facilities (SNFs) have a few additional considerations to factor into the decision of whether to enroll and which card...

Court upholds California's nurse staffing law.(Policy Watch)(California Healthcare Association)(Brief Article)
July 1, 2004... A Sacramento Superior Court judge on May 26 rejected arguments made by the California Healthcare Association that challenged the state's mandated nurse-to-patient staffing ratios, Los Angeles Business reported May 26. The ratios, which range...

Comprehensive medical malpractice reform: increased rigidity in state legislatures?(State Policy Watch)
July 1, 2004... State lawmakers continue to be concerned about the serious potential impact of the escalating costs of medical malpractice coverage: limited access to health care resulting from a loss of healthcare providers. To address this concern, many of...

My personal toolkit.(From The Chairman)(Column)
July 1, 2004... Like many of you, I became involved with HFMA because by boss mentioned, "If you want to go anywhere in the profession, you better belong to HFMA." At the time, I had no idea how much I would gain by joining. Today, I can identify countless...

Hospitals face tightening access to capital.(Industry Watch)
July 1, 2004... Capital access is tightening for providers, and several trends show underperforming hospitals are going to face a particularly difficult road ahead, HFMA president and CEO Richard L. Clarke told attendees at the Fifth Annual Non-Profit Health...

Medicare to pay 8.4 percent more per enrollee in managed care plans.(Industry Watch)(Brief Article)
July 1, 2004... In 2004, private Medicare plans will be paid 8.4 percent more per enrollee on average than fee-for-service costs, according to a Commonwealth Fund issue brief, The Cost of Privatization: Extra Payments to Medicare Advantage Plans, released on...

Coverage for the uninsured would be a sound investment.(Industry Watch)(Brief Article)
July 1, 2004... Expanding health coverage to include the 44 million Americans currently uninsured would not incur heavy increases in overall costs, according to The Cost of Care for the Uninsured: What Do We Spend, Who Pays, and What Would Full Coverage Add to...

Average charges for pediatric hospitalization.(Industry Watch)(Brief Article)(Illustration)
July 1, 2004... Average Charges for Pediatric Hospitalization Newborns without a Complicating Diagnosis $1,700 Newborns with a Complicating Diagnosis $13,600 All Pediatric Stays $7,500 Pediatric Illness ...

April prices rise for hospitals, physician offices.(Industry Watch)
July 1, 2004... The Producer Price Index (PPI) for hospital services rose by 0.4 percent in April, compared with a 0.1 percent increase in March, the Bureau of Labor Statistics reported May 13. Physician office prices also increased 0.3 percent, compared with...

GAO: amount of care given undocumented aliens hard to assess.(Industry Watch)(Brief Article)
July 1, 2004... A distribution plan for money intended to pay hospitals for their care to undocumented aliens is not readily apparent, according to a GAO report released May 28. Section 1011 of the Medicare Prescription Drug, Improvement, and Modernization Act...

Quotes of note.(Industry Watch)(Brief Article)
July 1, 2004... "Patients can't be bar-coded as if they were groceries." --Jane Orient, MD, executive director of the Association of American Physicians and Surgeons, addressing the issue of electronic medical records. "When one considers the modest...

Physicians get help with technology investments.(Industry Watch)(Bridges to Excellence)(Brief Article)
July 1, 2004... Bridges to Excellence, a coalition of several large employers, is sponsoring an initiative to pay participating physicians to adopt certain electronic systems to help manage and improve care within their practices. Under the Physician Office...

Regina Herzlinger receives BOD Award.(HFMA News)(Brief Article)
July 1, 2004... Regina E. Herzlinger, DBA, is the 2004 recipient of HFMA's distinguished Board of Directors Award, which is bestowed on those who make remarkable contributions to the healthcare profession. Herzlinger is widely recognized for her innovative...

Certification changes take effect.(HFMA News)(Brief Article)
July 1, 2004... New HFMA certification requirements became effective June 1, 2004. Changes to certification eligibility and maintenance requirements are driven by changes to the Founders Award points (these now include only volunteer contributions to...

Stark rule explained.(HFMA News)(Brief Article)
July 1, 2004... HFMA's resource center recently published "Highlights: Stark II Interim Final Rule, Phase II," a document that discusses the major points of the Stark II final rule, which prohibits physicians from referring Medicare and Medicaid patients to...

Member satisfaction survey results released.(HFMA News)(Brief Article)
July 1, 2004... HFMA members are generally satisfied with the quality of their chapter services, according to an HFMA member satisfaction survey conducted this spring. Eighty-seven percent of respondents said that they are satisfied, very satisfied, or...

HFMA's Compliance Forum develops Pharmaceutical Manufacturer Checklist.(HFMA News)(Brief Article)
July 1, 2004... To aid providers in determining whether their business arrangements with pharmaceutical manufacturers comply with the HHS Office of inspector General's corporate compliance program elements, HFMA's Healthcare Compliance Forum Advisory Council...

More than a hill of beans' difference: Ralph Nader says there isn't a hill of beans' difference between the two major-party candidates for president, George W. Bush and John Kerry. But even if you agree with Nader's assessment overall, one point is hard to dispute: if there ever was an issue that separated the two candidates, it's health care.(Eye On Washington)
July 1, 2004... Time after time on the stump, Democratic candidate Kerry has focused on the litany of problems that line the nation's healthcare system, accusing President Bush of failing to address them. Time after time on the slump, President gush has...

Back to basics managing IT projects.(Technology)(Column)
July 1, 2004... AT A GLANCE To minimize the likelihood of IT project failure, it's important to locus on five foundations of sound project management: * Roles * Committees * Charters * Plans * Status reporting So you've...

Medicare implications of discounts to the uninsured.(Medicare/Medicaid)
July 1, 2004... AT A GLANCE Discount policies are likely to face increased scrutiny in light of congressional inquiries on Medicare outlier payment and recent media attention regarding pricing for the uninsured. If you're considering making changes to...

How are hospitals financing the future? Core competencies in capital planning.(Report 5 Executive Summary)
July 1, 2004... Financing the Future is a yearlong project to help hospitals take advantage of growth opportunities. Led by HFMA is partnership with GE Healthcare Financial Services, the project provides information, insights, strategies, and tools designed to...

Making the tough choices for cost control: although identifying opportunities to cut costs can be relatively easy, the true test is prioritizing these opportunities in a way that optimizes use of capital and maintains the organization's strategic focus.(health care industry)(Cover Story)
July 1, 2004... AT A GLANCE To prioritize cost savings, providers can benefit from following a fundamental approach that involves using easily attainable small-scale initiatives (less than $50,000) to support larger-scale projects (typically over...

Sustaining a market-based healthcare system: as healthcare costs continue to soar, employers need to change the way they pay for their employees' health care.(Commentary)
July 1, 2004... AT A GLANCE Purchasers of health care are not holding the healthcare system accountable for quality and cost. Employers need to: * Offer their employees a wide range of choices in health coverage * Earmark for employees' purchase a...

Balancing physician and cost-containment demands: in developing strategies to control costs and improve outcomes, CFOs and physicians both need to understand the impact of medication choices.(Chief Financial Officers)
July 1, 2004... AT A GLANCE For clinicians, it's tempting to draw conclusions that new medications are easier to use and monitor, are safer, and therefore result in better outcomes. Similarly, for CFOs, it's tempting to view an older medication with a...

Election 2004 implications for providers: after the presidential election, "healthcare change" won't be just a campaign promise any more. Depending on who wins, what can providers expect?
July 1, 2004... AT A GLANCE It may Be difficult to believe, but President Bush and Senator Kerry do agree on a few important issues such as the need for improved healthcare information technology. But in regard to medical liability reform, health care for...

Hospital-physician joint ventures threat--or opportunity? Faced with the fact that their clinicians are increasingly becoming their competitors, many healthcare executives are saying, "if you can't beat 'em, join 'em.".(Medicare)
July 1, 2004... AT A GLANCE Physicians are increasingly drifting away from their hospitals to form ventures that compete with those very hospitals. Healthcare executives are being pressed to think of creative ways to maintain relationships with their...

The drug discount card will it cut drug prices for seniors? Medicare's drug discount cards promise savings on prescriptions. Will they deliver?(drug discount card program)(Medicare)
July 1, 2004... AT A GLANCE Medicare's drug discount card program is expected to help participants save an average of 10 to 15 percent on the cost of outpatient prescription drugs. Many of the beneficiaries signing up for the program will also qualify for...

Conquering capacity: by improving its patient flow, one hospital has been able to admit an additional 400 patients since January 2003 and expects to maintain that potential.
July 1, 2004... AT A GLANCE Recognizing existing capacity constraints and the accompanying lost revenue and market share, Lucile Packard Children's Hospital at Stanford implemented an improvement initiative, beginning with an assessment of its patient...

Strategic price setting: ensuring your financial viability through price modeling.
July 1, 2004... No one yet has figured out a formula or come up with a chart to tell hospitals when and how much to change their pricing. Tools that take the guesswork out of this essential but complicated task would be worth their weight in--well, increased...

Delivering bad news.(problem solving strategies in Health Care Industry)
July 1, 2004... Bad news is part of the healthcare landscape. The newscast reads like this: "The organization isn't performing as well as forecasted." Or like this: "Bond ratings are likely to drop." Or like this: "Construction costs and time frames exceed...

The CFO as marketing's champion: when healthcare finance and marketing combine forces, the resulting team is more than the sum of its parts.(New Revenue Growth)
July 1, 2004... Has the unthinkable happened? Have marketing and finance finally discovered ways to forge a partnership? OK, I admit it's a little cynical to say that couldn't happen. But there is growing evidence that finance and marketing can work...

Calendar.(Calendar)
July 1, 2004... Fall 2004 Seminars Level Seminar 9/27-30 10/11-14 Englewood, CO Cambridge, MA Financial Management I/A Achieving Breakthrough ...

W. Randall Dunning (Virginia Chapter).(People)(Brief Article)
July 1, 2004... Mr. Dunning has been named managing director of public finance, Legg Mason, Richmond, Va. He had been managing director, Morgan Keegan, Richmond.

Robert D. Miller, FHFMA (West Virginia Chapter).(People)(Coshocton County Memorial Hospital)(Brief Article)
July 1, 2004... Mr. Miller has been promoted from director of accounting to CFO, Coshocton County Memorial Hospital, Coshocton, Ohio.

Sanda Soerries (Heart of America Chapter).(People)(Brief Article)
July 1, 2004... Ms. Soerries has joined BKD, LLP, Kansas City, Mo., as associate, BKD health care group. Previously, she was director, health care services, BSM McGladrey, Kansas City.

Seth Zamek, FHFMA (Tennessee Chapter).(People)(Healthcare Financial Management Association)(ER Compliance Solutions, LLC)(Brief Article)
July 1, 2004... Mr. Zamek has joined ER Compliance Solutions, LLC, Jackson, Tenn., as president. Previously, he was executive director of physician services, West Tennessee Healthcare, Jackson.

Dianne P. Barry (Arizona Chapter).(People)(Patient financial services)
July 1, 2004... Ms. Barry has been appointed network vice president, patient financial services, SSM, St. Louis. She had been principal, D. Barry and Associates, Phoenix.

David Quigley (Metropolitan New York Chapter).(People)(Norwalk Radiology)(Brief Article)
July 1, 2004... Mr. Quigley has been appointed executive director, Norwalk Radiology, Norwalk, Conn. Previously, he was assistant vice president, Hospital for Special Surgery, New York.

Mark Kostreba (South Carolina Chapter).(People)(Medical Reimbursements of America, LLC)(Brief Article)
July 1, 2004... Mr. Kostreba has been named regional manager for development, Medical Reimbursements of America, LLC, Lexington, S.C. Previously, he was director of healthcare, TEAM IA, Inc., Lexington.

Sandra Kurtz (Metropolitan Philadelphia Chapter).(People)(Brief Article)
July 1, 2004... Ms. Kurtz has been appointed vice president, Fairmount Capital Advisors, Philadelphia. She had been assistant vice president, Commerce Capital Markets, Inc., Philadelphia.

Ron McClure (Tennessee Chapter).(People)(Brief Article)
July 1, 2004... Mr. McClure has joined Psychiatric Solutions, Inc., Franklin, Tenn., as chief informal ion officer. Formerly, he was assistant vice president, business solutions, HCA IT & S, Nashville, Tenn.

Thomas Viscariello (Massachusetts Chapter).(People)(Brief Article)
July 1, 2004... Mr. Viscariello has joined Tufts-New England Medical Center, Boston, as director or financial planning. Formerly, he was director of fiscal services, St. Elizabeth's Medical Center, Boston.

Joe V. Fete, PhD (Eastern Michigan Chapter).(People)(Brief Article)
July 1, 2004... Dr. Fete has received his PhD from Cornerstone University. He is currently director, patient financial services, St. Joseph Mercy Oakland, Pontiac, Mich.

Warner Head (Georgia Chapter).(People)(Legacy Data Access)(Brief Article)
July 1, 2004... Mr. Head has been named executive vice president, Legacy Data Access, Atlanta. Previously, he was vice president, McKesson Information Solutions, Atlanta.

William Gardiner (Maryland Chapter).(People)(Brief Article)
July 1, 2004... Mr. Gardiner has been named associate administrator, University of Maryland School of Medicine, Department of Surgery, Baltimore. He had been controller. Medical Faculty Associates, Washington, D.C.

Monica L. Lambert (Southern California Chapter).(People)(Healthcare Management Solutions, LLC)(Brief Article)
July 1, 2004... Ms. Lambert has been named regional director of operations, business office solutions division from director, internal quality control, Healthcare Management Solutions, LLC, Long Beach, Calif.

Timothy Hartnett (South Carolina Chapter).(People)(Sisters of Charity Providence Hospitals)(Brief Article)
July 1, 2004... Mr. Hartnett has been appointed director of managed care, Sisters of Charity Providence Hospitals, Columbia, S.C. He had been regional director of networks development, Hartford Insurance Company, Charlotte, N.C.

Glenna Jackson Heckathorn (Washington Metropolitan Chapter).(People)(Brief Article)
July 1, 2004... Ms. Jackson Heckathorn has joined Navigant Consulting, Inc., Washington, D.C., as senior engagement manager. Previously, she was vice president, compliance, MedStar Health, Washington, D.C./Baltimore.

Kenneth Robinson, FHFMA, CPA (Arkansas Chapter).(People)(Brief Article)
July 1, 2004... Mr. Robinson has been named CFO, Mercy Health System Northwest Arkansas, Mountain Home, Ark. Formerly, he was CFO, Baxter Regional Medical Center, Mountain Home.

Ethel Hoffman (Arizona Chapter).(People)(Phoenix Children's Hospital)(Brief Article)
July 1, 2004... Ms. Hoffman has joined Phoenix Children's Hospital, Phoenix, as director of managed care. Formerly, she was director, network contracting and provider relations, Wexford Health Sources, Inc., Pittsburgh.

David Olejniezak (Iowa Chapter).(People)(Brief Article)
July 1, 2004... Mr. Olejniezak has been named executive vice president, CFO, Covenant Health System, Waterloo, Iowa. Formerly, he was senior vice president, Evanston Northwestern Healthcare, Evanston, Ill.

Outpatient procedures are not always the cheapest.(Data Trends)
July 1, 2004... It's commonly assumed that charges for a facility's outpatient procedures are significantly less than those for inpatient procedures. But that's not always the case. Hospital CFOs striving to develop and manage a successful pricing strategy can...

What you can do to finance the future: facility renovation and expansion, investments in information technology for quality and efficiency improvements, advancements in medical technology--the list goes on and on.(From The President)(Healthcare Financial Management Association )
July 1, 2004... Given these capital demands, how will America's hospitals and health systems finance the future? And what are the implications for decision-making if capital demand outstrips capital access? These questions and others are the focus of...