Healthcare Financial Management articles from June 2006

Healthcare Financial Management archives from June 2006

Healthcare consumers want prices published, says survey ...(survey regarding Price Transparency)(Survey)(Brief article)
June 1, 2006... In an April telephone survey of 1,209 adults nationwide, 84 percent agreed that healthcare prices should be published, announced the Council for Affordable Health Insurance, a coalition of insurance companies, in early May. Asked if they would...

... And Bush, healthcare groups get the message.(Price Transparency)(American Hospital Association's annual meeting)
June 1, 2006... Providers and lawmakers do seem to be getting the message. President Bush urged executives in attendance at the American Hospital Association's annual meeting to make their hospital prices and quality data public. "If everyone here cooperates...

Ok may not be ok.(Oklahoma hospitals $515 million in uncompensated care)(Brief article)
June 1, 2006... Oklahoma hospitals provided more than $515 million in uncompensated care to the state's residents in 2005, according to a new report by the Center for Health Policy Research at the University of Oklahoma Hospital Association. After subtracting...

Execs call for better data on quality; AHRQ responds with web site.(Agency for Healthcare Research and Quality)(Tenet Healthcare Corporation contract with HealthGrades Inc.)(Survey)
June 1, 2006... Although cost remains the top priority in designing corporate employee healthcare plans, 25 percent of top executives of U.S.-based multinational businesses also give high priority to quality-of-care data, according to a survey by...

CMS.(payment systems in medicare)
June 1, 2006... ... The new interest rate for Medicare overpayment and underpayment is 12.125 percent beginning April 24, 2006. Medicare provides for the assessment of interest at the higher of the current value of funds rate or the private consumer rate as...

Does CPI stand for "creeping price index"?(consumer price index)(Brief article)
June 1, 2006... Consumer prices for hospital services climbed 0.7% in March, following a 1.3% leap in February, according to the Bureau of Labor Statistics' seasonally adjusted Consumer Price Index. For the 12 months ended in March, the hospital CPI was up...

Percentage of states adopting new medicaid cost containment strategies in FY06.(Chart)(Brief article)
June 1, 2006... Percentage of States Adopting New Medicaid Cost Containment Strategies in FY06 Controlling Drug Costs 80% Reducing/Freezing Provider Payments 98% Reducing/Restricting Eligibility 27% Reducing Benefits ...

We thought cutbacks were supposed to save money.(more General Motors workers want elective surgery following healthcare cuts)(Brief article)
June 1, 2006... Since General Motors announced healthcare cutbacks for its employees last year, union workers and their spouses have been signing up for elective procedures before they lose their medical benefits. Hip, knee, and shoulder replacements at the...

Federal register.(billing in medicare)(Brief article)
June 1, 2006... ... Referring to indicators that long-term care hospital margins are healthy, CMS will hold LTCH payments for rate year 2007 for approximately 400 long-term care hospitals at the 2006 level ($38,086), according to a final rule (Federal...

In this case, QI stands for "quick improvement.".(United Hospital Fund and Greater New York Hospital Association)(Brief article)
June 1, 2006... An ongoing quality improvement project has cut the rate of bloodstream infections associated with central lines by more than half from June 2005 to February 2006, according to the United Hospital Fund and Greater New York Hospital Association,...

No wonder small and mid-sized employers plan to cut health benefits--they pay more.(benefits of employees)
June 1, 2006... Of 1,041 small- and mid-sized U.S. businesses that offer health insurance, 57 percent said they are likely to reduce their employees' coverage in the furore, according to the biannual PNC Economic Outlook survey. Small wonder. Average...

Fewer employees may be accepting health insurance--and premium subsidies don't seem to help.(Cost of Healthcare Insurance)(Brief article)
June 1, 2006... Approximately 3 million fewer workers who were eligible for employer-sponsored health insurance enrolled in 2003 compared with 1998--from 85.4 percent of workers to 80.3 percent--according to Shifting Ground, Changes in Employer-Sponsored...

But what if we happen to be that one?(Archives of Surgery)(Brief article)
June 1, 2006... In a recent study reported in the April Archives of Surgery, researchers said that wrong-site, wrong-patient, or wrong-procedure cases remain rare, occurring approximately once every 113,000 surgical procedures.

The amazing adventures of a comic book collector.(Tom Safley)
June 1, 2006... Tom Safley has a superhuman love for comic books. His passion for superheroes, especially longtime favorites such as Spider-Man, the Fantastic Four, and Daredevil, has amassed into a collection of more than 5,300 comic books, tucked...

TV, movies scaring people from donating organs.(Brief article)
June 1, 2006... What stops some people from becoming organ donors? TV shows and movies that depict organ donation in a bad light, says one Purdue University researcher. In a Purdue University news release, Susan Morgan, associate professor of...

The way to an employee's heart? Free stuff.(employee compensations and benefits)(Brief article)
June 1, 2006... Looking for ways to retain talent in your organization? What about free food, vet insurance for their pets, all-experience paid trips, or sabbaticals in Hawaii? Money magazine recently profiled several companies that reward their employees...

20 years ago in hfm.(services of Healthcare Financial Management)(Brief article)
June 1, 2006... The cover story in hfm's June 1986 issue, "Information Systems: The Direction of Things to Come," discussed growing pressure from clinicians to extend automated support into new areas. At that time, emphasis on the need for IT support in health...

Overheard.(quotations)(Brief article)
June 1, 2006... "What those numbers do is cry out for public policymakers to take this challenge very seriously." --Gail Shearer, health policy director, Consumers Union, responding to a recent study about the growing number of uninsured in the...

First, do good!(usage of weblogs )
June 1, 2006... HFMA recently created a blog,"HFMA Views;' that provides news and commentary on the important issues facing the healthcare industry, often as they arise. HFMA members are invited to contribute to the blog. Below is an excerpt from...

Site seeing.(www.hfma.org)(www.hfma.org/library/reimbursement/medicare)(www.hfma.org/NR/rdonlyres/E581803B-4E58-4E41-8E5A-DE4F4E262322/o/ hfma_bedmgmt.pdf)(Brief article)
June 1, 2006... When was the last time you visited www.hfma.org? You could be missing out on some of the latest additions to HFMA's web site, including: 2007 Long-Term Care Hospital PPS Proposed Rule Highlights. In the Jan. 27, 2006, Federal Register, the...

Courage in leadership.
June 1, 2006... "You must do the thing you cannot do." I keep that quote by Eleanor Roosevelt taped to the PC in my office. To me, that quote defines courage. It means going beyond what's expected, taking a risk for the right reason, doing something that...

David Gergen: learning from presidents.(interview)(Interview)
June 1, 2006... David Gergen serves as editor-at-large for U.S. News & World Report and is a professor of public service and director of the Center for Public Leadership at Harvard University's John F. Kennedy School of Government, Cambridge, Mass. He also...

Risk is bad ... long live risk: I recall my father attempting to teach me the difference between courage and stupidity.(Editorial)
June 1, 2006... Courage, according to my father, was standing up to a bully at school. Stupidity was jumping off the roof of our garage. Both involve taking a risk. Both make your heart beat fast. Both could result in a broken nose. But one involves taking a...

Survey says: chapter satisfaction ranks high.(survey)(Survey)
June 1, 2006... Eighty-eight percent of HFMA members who responded to chapter member satisfaction surveys reported that they are satisfied, very satisfied, or extremely satisfied with their chapter. More than 6,000 HFMA members responded to the chapter...

Audio webcast capabilities to be extended to chapters.(Brief article)
June 1, 2006... HFMA has just piloted an audio webcast service that will ultimately enable chapters to reach an expanded audience for local programs. The technology, which is incorporated by HFMA National for many of its educational programs, will enhance...

More than fun and sun at Orlando ANI!(HFMA NEWS)
June 1, 2006... Gain insight on what it takes to be an effective leader during four exciting presentations at ANI 2006, June 17-21 in Orlando, Fla.! Presentations will be made by 60 Minutes anchor Lesley Stahl, David Gergen, editor-at-large, U.S. News & World...

hfm feature article wins national award.(Healthcare Financial Management)(Sarah M. Norland wins silver award from the Society of National Association Publishers)(Brief article)
June 1, 2006... HFMA congratulates Sarah M. Norland, product manager, custom publishing for HFMA, whose April 2005 hfm article, "Containing Costs in the ED," recently won a silver award from the Society of National Association Publishers. The SNAP EXCEL...

HFMA supported "Cover the Uninsured Week".(Healthcare Financial Management Association)(Brief article)
June 1, 2006... HFMA was a national supporter of "Cover the Uninsured Week 2006," May 1-7, 2006. The initiative, a Robert Wood Johnson Foundation project, is a nonpartisan, nationwide effort to urge U.S. leaders to make health coverage for Americans their top...

Improve your claims process.(usage of Denials Management Toolkit)(Brief article)
June 1, 2006... Denied claims mean delayed, and sometimes lost, revenue. HFMA's Denials Management Toolkit, a collection of eight interactive tools on a CD, can help you manage your revenue cycle to prevent denied claims and resolve outstanding denied claims....

Implementing the Medicare drug benefit-the first 90 days: the first quarter of experience with the new Medicare drug plan is behind us. Now's a good time to pause and ask, "how are things going?".(EYE ON WASHINGTON)
June 1, 2006... Many are reflecting back on whether what we have seen is a prelude to what's to come. And they are looking to see what suggested changes, if any, are emerging. There's no question that the plan has faced some challenges. Yet, though only a...

From competition to collaboration: on the Idaho map, 50 miles separate the towns of Cottonwood and Orofino. But the long history of competition between the cities' two hospitals had created a much greater ideological distance.(Larry Kidd)(Interview)
June 1, 2006... St. Mary's Hospital in Cottonwood had been a member of the Benedictine Health System since 1990 and was in fairly good financial shape. But 40-year-old, county-owned Clearwater Valley Hospital in Orofino was approaching financial collapse. In...

Ethics, morals, and integrity: focus at the top.(LEADERSHIP)
June 1, 2006... If ever there was a time for healthcare financial leaders to raise their level of concern about corporate ethics, the time is now. Scrutiny of healthcare leaders for their ethics, morals, and integrity is perhaps at an all-time high today....

8 tips for a smooth Medicare audit.(MEDICARE/MEDICAID)
June 1, 2006... Loaded with opportunities for conflict, the annual audit of your facility's Medicare cost report can be a stressful time for your reimbursement and accounting staff. Processing the requests for information and evaluating proposed audit...

Joe Fifer asks CFOs to lead with courage: on any given day, we have numerous opportunities to go beyond what's expected, to take a risk for the right reasons. Making the most of those opportunities is the definition of courage, says HFMA's new chairman, Joe Fifer, FHFMA, CPA.(CHAIRMAN'S PROFILE)(chief finance officer)(Healthcare Financial Management Association )
June 1, 2006... "You must do the thing you think you cannot do." --Eleanor Roosevelt Joseph Fifer, FHFMA, CPA, was mid-way through his career when he had an encounter with a ten-it-like-it-is consultant named Penny Rock. The hospital where Fifer was...

What's keeping you up at night? The new risks facing hospitals.(Cover story)
June 1, 2006... If there is one thing that scares CFO Sherry Clouse Day of Branson, Mo., it's the idea that at a time when the public demands increased transparency in hospital pricing and quality, few consumers understand the information that's being...

Is your hospital's tax-exempt status at risk? The tax-exempt status of many not-for-profit hospitals may soon be called into question. And it's not the recent spate of class action lawsuits that pose the threat--it's the IRS.(tax exemptions)
June 1, 2006... Not-for-profit hospitals are being forced to take a hard look at the justification of their tax-exempt status. They have faced high-profile challenges of their tax exemption from numerous quarters for an alleged failure to provide sufficient...

How better performers are collaborating with physicians: gainsharing is in the spotlight as a way for hospitals to share cost savings with physicians, but other approaches are still the bedrock of long-term, effective collaboration with physicians.(FEATURE STORY)
June 1, 2006... "The HHS inspector general's office green lighted several gainsharing arrangements between hospitals and physicians in a flurry of advisories in recent weeks..." --Modern Physician, Feb. 24, 2005. The recent approvals of six...

Path to safety: benefits of the 2005 Patient Safety and Quality Improvement Act: patient safety concerns have plagued the nation's healthcare system for a number of years. Recent federal legislation may help.(management of health care industry)
June 1, 2006... In the years leading up to the passage of the Patient Safety and Quality Improvement Act of 2005, our nation's healthcare system was in a crisis. Legal issues surrounding medical errors were creating a cycle of fear, secrecy, and anger. The...

Caveat emptor: joint ventures with specialty hospitals: is a full-service community hospital that joint ventures with a physician-owned limited-service hospital essentially selling its soul?(COMMENTARY)
June 1, 2006... Financing the Future II--Report 4: Joint Ventures with Physicians and Other Partners touts the success of a particular type of specialty hospital joint venture between a hospital system and physician investors and promotes it as a strategic...

High stakes: avoiding risks associated with vendor discounts: hospitals that enter into sophisticated vendor discount arrangements may be betting high stakes. Employing some safeguards may help keep you from going on tilt.(FEATURE STORY)
June 1, 2006... Vendor discounts to hospitals have attracted government scrutiny for many years, especially because their structure has become more complex in many cases. Consequently, hospitals are less certain as to whether new discount arrangements raise...

The tip of the iceberg: financial liability analysis and clinical trials: failure to conduct a financial liability analysis associated with clinical trials exposes a hospital to significant risks. But why don't more hospitals perform them?(FEATURE STORY)
June 1, 2006... There is limited information in the literature, or in the practice settings of clinical research, on how to appropriately conduct a financial liability analysis of a clinical trial protocol. This analysis is critical prior to signing a clinical...

Reserve process quality assessment.(hfm TOOLBOX)
June 1, 2006... The May hfm Toolbox advocated the development of a cumulative database of reserve information assets to improve the quality of information and resultant outcomes from the monthly reserve valuation process. The development of this type of...

Delegation and monkeys: who's in charge? Are you working harder and falling farther behind? Maybe you have too many monkeys.(LEADERSHIP AND MANAGEMENT)
June 1, 2006... One advantage of being a university professor is that students and alumni send you materials to help keep you up to date. An alumnus sent the classic article "Who's Got the Monkey?," by William Oncken, Jr., and Donald Wass. First printed in the...

The next generation in revenue cycle technology: the mechanisms to pay for goods and services in most industries are reasonably simple, and they are rarely referred to as being part of a revenue cycle.(DIGITAL PERSPECTIVES)
June 1, 2006... However, the relationship between patients, providers, and third-party payers in health care is so complex that payment mechanisms affect nearly all aspects of the patient's experience. Payer rules may affect the patient's choice of...

Why neuroscience business development? Neurological disorders strike an estimated 50 million Americans each year, according to the National Institute of Neurological Disorders and Stroke.(NEW REVENUE GROWTH)(Case study)
June 1, 2006... Like oncology, neuroscience is among the most complex center of excellence programs because there are so many different types of neurological disorders, all with their own patient base, physicians, and diagnostic and treatment modalities. Thus,...

Calendar.(Calendar)
June 1, 2006... Spring 2006 Seminars Level Seminar Aug. 14-47 Coeur d'Alene, Idaho Financial Management...

Carol R. Barron (North Carolina Chapter).(appointment of Carol R. Barron )(Brief article)
June 1, 2006... Ms. Barron has been named senior account executive, business development and sales, Novant Health, Inc., Winston-Salem, N.C. She had been associate director of managed care, North Carolina Baptist Hospital, Winston-Salem.

Julie L. Berndt (Oklahoma Chapter).(PEOPLE)
June 1, 2006... Ms. Berndt has been named CFO, Summit Medical Center, Van Buren, Ark. Previously, she was controller, Midwest Regional Medical Center, Midwest City, Okla.

Jim Grigsby, CPAM, CDIA (Florida Chapter).(appointment of Jim Grigsby)(Brief article)
June 1, 2006... Mr. Grigsby has joined IMPACT Healthcare Services, Inc., Maitland, Fla., as director of client development. Previously, he was regional sales manager, ARM Ltd., Park Ridge, Ill.

Steve Baseley (Wisconsin Chapter).(PEOPLE)
June 1, 2006... Mr. Baseley has joined Good Samaritan Health Center, Merrill, Wis., as director, patient accounts. Formerly, he was account executive, State Collection Service, Inc., Madison, Wis.

Alan L. Mytty (McMahon-Illini Chapter).(appointment of Alan L. Mytty)(Brief article)
June 1, 2006... Mr. Mytty has been appointed director of payer contracting, Carle Foundation Hospital, Urbana, Ill. He had been a managed care and health insurance consultant in Indianapolis.

Rayanna Henderson (First Illinois Chapter).(PEOPLE)
June 1, 2006... Ms. Henderson has been appointed director quality improvement, Porter Valparaiso Hospital Campus, Valparaiso, Ind. She had been director of managed care, Mercy Hospital, Chicago.

J. Larry Tyler: on the benefits of learning through HFMA.(Healthcare Financial Management Association)(Brief article)(Column)
June 1, 2006... HFMA played an integral part in my healthcare career. I entered health care without a healthcare background. Since I was doing executive searches for financial executives for the for-profit healthcare systems, HFMA meetings were natural places...

Data trends correction.(Correction notice)
June 1, 2006... A chart in the May Data Trends, "Analyzing the Key Indicators for Total Utilization and Departmental Volumes," was labeled incorrectly. The chart with its correct label is reprinted at right. The analysis used quarterly data from 550 hospitals...

Data analysis can help providers improve quality outcomes and reduce insurance costs.(DATA TRENDS)
June 1, 2006... This analysis was provided by Aon Healthcare. For more information, contact Karen Cullinane, senior consultant, at karen_cullinane@ aon.com. With information regarding medical outcomes increasingly being made public, and some payers, such...

Embrace consumerism: embrace consumerism? Am I crazy?(FROM THE PRESIDENT)
June 1, 2006... Consumerism relates to high-deductible health plans that potentially increase providers' bad debt. It relates to explaining to patients why their up-front payments are so high. And it relates to patients wanting to know what things cost. But it...

Welcome to ANI!(Speech)
June 1, 2006... Dear Friends, On behalf of the HFMA Board of Directors and staff, welcome to ANI 2006 in Orlando. You are here because you are a leader--past, present, or emerging. Health care is in dire need of courageous leaders. Main Street demands...

Saturday events.(Calendar)
June 1, 2006... SATURDAY GOLF OUTING 7:15 am to 2:30 pm--Ruses depart from the Convention Center Shuttle Loop HFMA's Saturday Golf Outing will be held at the Falcon's Fire Golf Club. Registration prior to June 1 is required to participate in this...

Sunday events.(Calendar)
June 1, 2006... PRECONFERENCE SEMINARS 8:00 am to 5:00 pm * Understanding the Medicare Cost Report * CFO Bootcamp Execution Is Everything: A Practical Program in Group Leadership Tools for Finance Executives * Board Member Bootcamp: What...

Monday events.(Calendar)
June 1, 2006... MONDAY KEYNOTE ADDRESS 8:00 to 9:30 am OSCEOLA BALLROOM TALKING LEADERSHIP WITH LESLEY STAHL Lesley Staid, "60 Minutes" Anchor and Veteran TV Journalist The first story Lesley Stahl covered for "CBS News" was Watergate,...

Tuesday events.(Calendar)(Conference notes)
June 1, 2006... TUESDAY KEYNOTE ADDRESS 8:00 TO 9:30 AM OSCEOLA BALLROOM EYEWITNESS TO POWER: LEADERSHIP IN AMERICA David Gergen, Editor-at-Large, U.S. News & World Report, and Professor of Public Service, John F. Kennedy School of Government...

Wednesday events.(Calendar)(Conference notes)
June 1, 2006... WEDNESDAY KEYNOTE ADDRESS 8:00 to 9:30 am OSCEOLA BALLROOM ONLY WINNERS NEED APPLY Pat Williams, Senior Vice President, Orlando Magic Pat Williams' first job as Senior Vice President of the Orlando Magic was selling Magic...

ANI events.(Calendar)
June 1, 2006... * ANI 2006 CERTIFICATION EVENTS SATURDAY, JUNE 17 NATIONAL COACHING COURSE: CORE CERTIFICATION REVIEW SESSION 10:00 am to 4:30 pm ROOM: ST. GEORGE 108 Attaining HFMA's Certified Healthcare Financial Professional (CHFP)...

Idea exchange exhibitors list *.(Chart)
June 1, 2006... Company Booth # ACA International Healthcare 1425 Services Program 4040 W 70th St Minneapolis, MN 55435 952-926-6547 Fax: 952-926-1624...

ANI schedule at a glance.(Chart)(Calendar)
June 1, 2006... SUNDAY, JUNE 18 PRECONFERENCE SEMINARS 8:00 am-5:00 pm Understanding the Medicare Cost Report (1) PCS1 CFO Bootcamp (A) PCS2 Execution Is Everything: A Practical Program in Group Leadership Tools for Finance...

WELCOME TO ORLANDO!(Directory)(Brief article)
June 1, 2006... While Orlando is known for its theme parks, there's a whole lot more to see and do in the Sunshine State. Here's just a sample of some of the great restaurants, shopping and activities available in Orlando. DINING Shula's Steakhouse...

Are you ready for pricing transparency?(hfma roundtable)(Discussion)
June 1, 2006... Pricing transparency is a key element in the move toward consumer-driven health care. Yet the proposition poses a number of challenges for hospitals, not the least of which includes how best to impose rationality on a patchwork system of prices...

How well is your staff positioned for denials management?(hfma roundtable)(Healthcare Financial Management Association)(Discussion)
June 1, 2006... Across the country, hospital executives are boosting their bottom lines by focusing new energy on an old problem: claims denials. Key areas of focus include technology that allows denials to be tracked and addressed more efficiently and...