Healthcare Financial Management articles from June 2005

Healthcare Financial Management archives from June 2005

Ways and means committee resumes tax-exempt hearings.(POLICY WATCH)(Brief Article)
June 1, 2005... Scrutiny of not- for- profit organizations has intensified on Capitol Hill. On April 20, the House Ways and Means Committee resumed its series of hearings on the tax- exempt sector. The April 20 hearing follows on the heels of a hearing by...

GAO recommends more specific criteria for IRF classification.(United States. Government Accountability Office)(Inpatient Rehabilitation Facility)(Brief Article)
June 1, 2005... Greater clarity is needed about what type of patients should receive the intensive level of services provided in inpatient rehabilitation facilities, according to a GAO report released in late April. In FY03, only 6 percent of IRFs were able to...

House committee continues patient billing investigation.(POLICY WATCH)(Brief Article)
June 1, 2005... On April 25, the House Energy and Commerce Committee sent a follow up letter to 10 large hospital systems requesting additional information on patient billing issues. The letter, signed by committee chairman Joe Barton (R-Texas) and its...

CMS publishes HPSA, physician scarcity payment instructions.(POLICY WATCH)(Centers for Medicare and Medicaid Services)(Health Professional Shortage Area)(Brief Article)
June 1, 2005... CMS has clarified that health professional shortage area "bonuses" are payable for all professional services provided in a mental health HPSA by a psychiatrist who is licensed to provide the services. CMS had indications that some contractors...

LTCH PPS rule adopts new labor market areas.(POLICY WATCH)(long term care hospitals)(Brief Article)
June 1, 2005... Medicare payment rates for long term care hospitals will increase by 3.4 percent for the rate year July 1, 2005, to June 30, 2006, according to a final rule published in the May 6 Federal Register. The increase will produce a federal rate of...

OIG, CMS to target noncompliance with transfer policy as number of transfer DRGs increases.(POLICY WATCH)(Office of Inspector General)(United States. Centers for Medicare and Medicaid Services)(Diagnosis related groups)
June 1, 2005... In preparation for the expanded scope of the Medicare transfer DRG policy and heightened interest in compliance by CMS and the Office of Inspector General of the Department of Health and Human Resources, hospitals should audit their compliance...

CMS has added 65 new procedures to the existing 2,464 procedures that Medicare will cover when performed in ambulatory surgery centers, according to a May 4 interim final rule.(Brief Article)
June 1, 2005... ... CMS has added 65 new procedures to the existing 2,464 procedures that Medicare will cover when performed in ambulatory surgery centers, according to a May 4 interim final rule. The rule differs significantly from the Nov. 26, 2004, proposed...

A new identifier for use in standard electronic healthcare transactions is now available, CMS has announced.
June 1, 2005... ... A new identifier for use in standard electronic healthcare transactions is now available, CMS has announced. The national provider identifier will replace the different identifiers currently used by each health plan, which will eliminate...

Administrative simplification enforcement rule proposed.(POLICY WATCH)(Brief Article)
June 1, 2005... The April 18 Federal Register contained the HHS proposed "enforcement" rule that would establish civil money penalties for failures to adhere to the administrative simplification provisions of the Health Insurance Portability and Accountability...

Proposed FY06 inpatient payment rule: payment for data reporting.(POLICY WATCH)(Brief Article)
June 1, 2005... Under the hospital inpatient PPS proposed rule published in the May 4 Federal Register, healthcare institutions would continue to be rewarded for reporting quality data on services to Medicare beneficiaries with a payment update of the full...

States balk at picking up tab for coverage of large retailer employees.(STATE POLICY WATCH)
June 1, 2005... As the cost of publicly funded health insurance continues to burden state budgets across the nation, some citizens and lawmakers are looking at large retail and service corporations as contributing to the problem. Several states have released...

The business of caring: "no margin, no mission".(FROM THE CHAIRMAN)(Healthcare Financial Management Association)
June 1, 2005... How many times have we heard that expression in our healthcare organizations? The words have a much greater impact on those of us who struggle with that balance every day. We are faced with an increasing uninsured and underinsured population,...

Expert panels identify strategic and financial implications of EHR adoption.(INDUSTRY WATCH)
June 1, 2005... This past March, HFMA convened a meeting of 31 CFOs from around the country to discuss adoption of electronic health records and explore how hospitals should view EHR investments and their benefits and returns. The meeting was generously...

HSAs see rapid growth since September.(INDUSTRY WATCH)(Health Savings Account)(Brief Article)
June 1, 2005... The number of people covered by health savings accounts or high-deductible health plans more than doubled between September 2004 and March 2005, to 1.03 million, according to the latest survey of America's Health Insurance Plans member groups...

Studies focus on uninsured workers.(INDUSTRY WATCH)(Brief Article)
June 1, 2005... More than 20 million working adults do not have healthcare coverage, according to a study by the Robert Wood Johnson Foundation. The study, which analyzes data from the Centers for Disease Control and Prevention, shows that in eight states, at...

Minnesota health systems accept pricing, collection agreements.(INDUSTRY WATCH)(Brief Article)
June 1, 2005... Four health systems signed an agreement with Minnesota Attorney General Mike Hatch over hospital pricing and debt collection practices. The systems are Allina Health System, North Memorial Health Care, Park Nicollet Health Services, and...

Quotes of note.(INDUSTRY WATCH)
June 1, 2005... "By using complex, creative financing schemes, states have inappropriately increased the federal share of Medicaid expenditures" --Kathryn G. Allen, director of Medicaid issues at the U.S. General Accountability Office, describing alleged...

Healthcare leaders: pay-for-performance most effective way to reduce healthcare costs.(INDUSTRY WATCH)(Brief Article)
June 1, 2005... Rewarding mere efficient and high-quality providers ranked first among effective ways to cut healthcare costs, according to a recent Commonwealth Fund survey of experts in U.S. healthcare practice and policy. A majority (57 percent) of...

Tax-exempt status key issue for P&P Board.(HFMA NEWS)(Healthcare Financial Management Association. Principles and Practices Board)
June 1, 2005... Challenges to tax-exempt status are a perennial issue for not-for-profit healthcare providers, but have taken on new urgency this past year as lawsuits and congressional hearings scrutinized the roles, obligations, and oversight of not-for...

hfm column recognized.(HFMA NEWS)(Healthcare Financial Management Association)(Brief Article)
June 1, 2005... Recently hfm received a silver award from the American Society of Healthcare Publication Editors for its New Revenue Growth column appearing in the May and September 2004 issues. The titles selected were "(Coat) tails, You Win," an article...

HFMA extends condolences to Joyce Zimowski.(HFMA NEWS)(Healthcare Financial Management Association)(Brief Article)
June 1, 2005... HFMA extends its condolences to 2004-05 HFMA National Chairman Joyce Zimowski on the recent loss of her husband, Edward Fox. Fox passed away May 10. Fox was a partner with Harris Beach, LLP, in Pittsford, N.Y., where he excelled as a trial...

The challenges of Medicaid: between the president's focus on Social Security and the release of the latest Medicare Trustees report this spring, most of the media's attention has been focused on these two federal programs. But it is Medicaid that is presenting the more immediate challenge for both the current federal budget and the states.(EYE ON WASHINGTON)
June 1, 2005... The federal-state Medicaid program currently provides acute care and long-term care services to some 53 million people. The total spending for Medicaid in 2003 was $277 billion, $162 billion from the federal government and $115 billion from the...

"The greatest comebacks start here".(hfm INTERVIEW)(Daniel C. Confalone)(Good Shepherd Rehabilitation Network)(Interview)
June 1, 2005... When the marketing department at Good Shepherd Rehabilitation Network in Allentown, Pa., came up with the slogan "The Greatest Comebacks Start Here," it wasn't thinking of the hospital's finances. But it easily could have been. Daniel C....

Hospital-based dialysis centers perspectives from the for-profit sector.(BUSINESS)
June 1, 2005... Running a financially viable outpatient dialysis program has become an enormous challenge. Many hospital-based outpatient dialysis programs incur losses from treating Medicare patients and may be unprofitable, according to data published by the...

Take charge of revenue opportunities.(REVENUE CYCLE)
June 1, 2005... Chances are, basic mechanisms for capturing charges at your organization are well understood and widely implemented. When you hear about this area of the revenue cycle, your response is likely to be little more than "been there, done that." ...

Richard Rodriguez and the business of caring: Richard Rodriguez, FHFMA, brings experience with finance and operations, along with Texas-bred wisdom, to his HFMA chairmanship.(CHAIRMAN'S PROFILE)(Fellow of the Healthcare Financial Management Association)(Interview)
June 1, 2005... "Within its borders I have seen just about as many kinds of country, contour, climate, and conformation as there are in the world saving only the Arctic, and a good north wind can even bring the icy breath down."--John Steinbeck, Travels with...

Keeping clean for compliance: constantly changing healthcare laws and regulations create risk for the unwary. Does your organization have a strategy to identify and monitor its exposure?(Cover Story)
June 1, 2005... Federal healthcare programs, particularly Medicare and Medicaid, pose the greatest risk of business exposure to healthcare organizations. Recent landmark fraud settlements levied against large healthcare businesses include such giants as...

What health care can be an expanded role for financial leaders: glimmers of changes to healthcare governance, policy, and financing are on the horizon. How can you be a driver of change?(COMMENTARY)
June 1, 2005... In Pittsburgh and in other places around the country, we have helped hospital leaders perform thousands of hours of observations of nurses, unit clerks, custodians, physicians, supply clerks, and other front-line staff working. The story is...

Corporate responsibility: not-for-profits--prepare to be held accountable: not-for-profits should heed the call: it's time to prepare for mandatory compliance with the Sarbanes-Oxley corporate disclosure requirements.
June 1, 2005... It's not a question of if, but when. Not-for-profit healthcare organizations can expect to be subject soon to the reporting requirements that now affect publicly traded organizations under the Sarbanes-Oxley Act. The requirements will...

Risk factors: to best manage risk, organizations should pursue a strategy that accounts for interrelationships among operations, investments, and financing.
June 1, 2005... Hospital operating results have become increasingly volatile in the post-cost-based payment era of managed care contracting. Financially strong not-for-profit healthcare organizations often have both large investment balances and large debt...

Medical outcomes a new approach called "return on risk": the correlation between the quality of health care in an organization and the cost of that organization's risk is hard to deny. So why are providers still acting as if the two are unrelated?
June 1, 2005... It's a CFO's worst nightmare: Your organization just got the verdict from a 1997 obstetrical malpractice ease, and it's going to cost the hospital $15 million. As if this is not bad enough, the hospital's professional liability premium will now...

Heed the OIG's usual suspects: the Office of Inspector General insists that we carefully scrutinize business arrangements that present any of its reported suspect characteristics.
June 1, 2005... In two negative advisory opinions a little more than a month apart, the U.S. Department of Health and Human Services Office of Inspector General has provided a clear warning against dressing up suspect business arrangements in safe harbors and...

Key compliance areas for healthcare financial executives.(hfm TOOLBOX)
June 1, 2005... [] Review postmerger activities for competitive impact. [] Prepare antitrust analysis before new ventures. [] Pay attention to health plan negotiations. [] Review physician-hospital organization participation. [] Conduct...

Managing the workaholic (in you!): Have you ever seen a headstone that read, "If only I had spent more time at work"?(LEADERSHIP AND MANAGEMENT)
June 1, 2005... All work and no play makes Jack a dull boy. --Proverb "Work expands to fill the time available for its completion." --C. Northcote Parkinson "If A is a success in life, then A equals X plus Y plus Z. Work is X; Y is play; and...

Are you prepared for a system loss? Jean-Claude Killy, the famous French skier, once said, "To win, you have to risk loss".(DIGITAL PERSPECTIVES)
June 1, 2005... Although this statement is true, most of us are risk averse. Granted, we chose a business fraught with risk. Risks the healthcare industry faces today are readily apparent: an aging population that will require extensive capital investment,...

Creating competitive advantage: product development: take a look at the following healthcare organizations that are experiencing growth and financial return because they know what product lines are profitable for them to cultivate. Can you say the same thing about your organization?(NEW REVENUE GROWTH)
June 1, 2005... * University of Wisconsin Hospital and Clinics in Madison, Wisc., has focused on developing some key service lines, notably transplantation, cancer, pediatric, neuroscience, and orthopedic services to differentiate its capabilities from very...

A financial fitness regimen for improved capital access: here are five steps you should take now to improve your hospital's access to capital.(CAPITAL FINANCE)
June 1, 2005... As many as one-third of U.S. hospitals have credit ratings or belong to health systems that have ratings from one of the national rating agencies. The remaining 65 percent to 75 percent of hospitals in the country have no rating, probably do...

A Primer on Hospital Accounting and Finance, Third Edition.(BOOKSHELF)(Book Review)
June 1, 2005... Felix Kaufman Kaufman, Hall & Associates Northfield, Ill, 2005 36 pages www.kaufmanhall.com A Primer on Hospital Accounting and Finance is a brief guide designed to give hospital trustees, physicians, and other healthcare leaders a glimpse...

Laurence E. Laughlin III, FHFMA (Florida Chapter).(PEOPLE)(appointed Laurence E. Laughlin as director of patient financial services.)(Brief Article)
June 1, 2005... Mr. Laughlin has been appointed director of patient financial services, Holy Cross Hospital, Ft. Lauderdale, Fla. Formerly, he was administrative director, patient financial services, Sarasota Memorial Hospital, Sarasota, Fla.

Michael Lawton (Kentucky Chapter).(PEOPLE)(Brief Article)
June 1, 2005... Mr. Lawton has been named vice president, regional development, OhioHealth, Columbus, Ohio. He had been vice president, managed care, Norton Healthcare, Louisville, Ky.

Brian Reilly (Metropolitan Philadelphia Chapter).(PEOPLE)(appointed Brian Reilly as Chief financial officers.)(Brief Article)
June 1, 2005... Mr. Reilly has been appointed CFO, Hahnemann University Hospital, Philadelphia. Previously, he was regional director of finance and controller, Tenet Regional Office, Philadelphia.

Judith Scott, FHFMA (Sunflower [Kansas] Chapter).(PEOPLE)(appointed Judith Scott as Chief financial officers.)(Brief Article)
June 1, 2005... Ms. Scott has been named CFO, Cushing Memorial Hospital, Leavenworth, Kan. She had been vice president, clinic services, Pratt Regional Medical Center, Pratt, Kan.

Wade Sturgeon (Idaho Chapter).(PEOPLE)(appointed Wade Sturgeon as Chief financial officers.)(Brief Article)
June 1, 2005... Mr. Sturgeon has been named CFO, Klickitat Valley Health Services, Goldendale, Wash. He had been controller, Gooding County Memorial Hospital, Gooding, Idaho.

William Wheeler (Massachusetts Chapter).(PEOPLE)(appointed William Wheeler as Chief financial officers.)(Brief Article)
June 1, 2005... Mr. Wheeler has joined Besler Consulting, Quincy, Mass., as director. He had been Medicare audit manager, Anthem Blue Cross Blue Shield, Quincy, Mass.

John L. Alley (Indiana Pressler Memorial Chapter).(PEOPLE)(Brief Article)
June 1, 2005... Mr. Alley has been appointed vice president, CFO, Woodlawn Hospital Rochester, Ind. He had been controller, CFO, Gibson General Hospital, Princeton, Ind.

Jerry Brantz (Idaho Chapter).(PEOPLE)(appointed Jerry Brantz as Chief financial officers.)(Brief Article)
June 1, 2005... Mr. Brantz has been named CFO, Shoshone Medical Center, Kellogg, Idaho. Formerly, he was controller, Casa Grande Regional Medical Center, Case Grande, Ariz.

Jeffrey P. Fritsche, CPA (Wisconsin Chapter).(PEOPLE)(appointed Jeffrey P. Fritsche )(Brief Article)
June 1, 2005... Mr. Fritsche has joined Silverton Hospital, Silverton, Ore., as CFO. Previously, he was CFO, Orthopaedic Hospital of Wisconsin, Glendale, Wis.

Betsy Hayden (Metropolitan Philadelphia Chapter).(PEOPLE)(appointed Betsy Hayden as director.)(Brief Article)
June 1, 2005... Ms. Hayden has been named director, patient accounting, Temple University Health System, Philadelphia. She had been director, patient accounts, Chestnut Hill Healthcare, Philadelphia.

Bradley King, CPA (Oregon Chapter).(PEOPLE)(appointed Bradley King as vice president.)(Brief Article)
June 1, 2005... Mr. King has been named vice president, CFO, Oregon Health & Science University, Portland, Ore. Formerly, he was principal, LarsonAllen Health Care Group, Charlotte, N.C.

Veronica L. Modricker (McMahon-Illini Chapter).(PEOPLE)(appointed Veronica L. Modricker as regional manager for development.)(Brief Article)
June 1, 2005... Ms. Modricker has been appointed regional manager for development, Medical Reimbursements of America, LLC, Andalusia, Ill. Previously, she was director of sales, The CBE Group, Inc., Waterloo, Iowa.

Cheryl Mason: zen and the art of healthcare financial management.
June 1, 2005... When Cheryl Mason, FHFMA, CPA, isn't working as director of reimbursement management at Salina Regional Health Center, in Salina, Kan., you'll often find her practicing yoga and sharing yoga skills with others. "I'm a registered yoga teacher...

Long-term care sector sees 400 percent increase in liability cost.(DATA TRENDS)(Liability costs )
June 1, 2005... Liability costs in the long-term care sector continue to spiral out of control, according to a recent study commissioned by the American Health Care Association. The study, which evaluated facilities representing 23 percent of the total...

A good year: by all important measures, HFMA just completed a very good fiscal year. More than 5,000 new members joined the Association between June 1, 2004, and May 31, 2005.(FROM THE PRESIDENT)(Annual National Institute)
June 1, 2005... And almost 87.4 percent of members retained their membership during this fiscal period. Both of these measures produced a growth rate of more than 2.3 percent during the year--an amazing accomplishment given the challenges our members face. ...

The case for quality: effective clinical and financial case management: this project is collaborative effort by Cerner and the Healthcare Financial Management Association.
June 1, 2005... Case management is a process that has existed in hospital practice for a long time, but only recently has it been getting the attention it deserves as healthcare executives, health planners, and policymakers struggle to further improve quality...

ANI: the Healthcare Finance Conference: June 26-30 program guide.
June 1, 2005... CHAIRMAN'S LETTER Welcome to ANI! Dear friends: One of the things I like most about the healthcare field is its unpredictability: Health care continues to change, evolve, challenge us, and provide opportunities. That...

Exhibitors list.
June 1, 2005... Company Booth # 3M Health Information Systems 833 575 W. Murray Blvd. Murray, UT 84123 801-265-4400; Toll free: 800-367-2447 www.3mhis.com ...

Idea exchange exhibit.(Brief Article)(Calendar)
June 1, 2005... Keep up with the latest ideas and newest solutions at the ANI Idea Exchange! In the exhibit hall, you'll get the chance to network with peers, win prizes, see the newest products, enjoy lunch, check your e-mail... the list goes on and on. ...

ANI at a glance.(Illustration)(Calendar)
June 1, 2005... ANI AT A GLANCE SUNDAY, June 26 PRECONFERENCE SEMINARS 8:00 am-5:00 pm Achieving Successful Revenue Growth PCS1 Medicare Cost Reporting PCS2 Understanding Data to Make Management Decisions PCS3 CFO Boot Camp PCS4 ...