Healthcare Financial Management articles from May 2003

Healthcare Financial Management archives from May 2003

Congress votes to exclude Medicaid cuts from FY04 budget. (Policy Watch).(Brief Article)
May 1, 2003... On April 11, both the House and Senate accepted a budget agreement that avoided major cuts to Medicaid. The 216 -211 House vote closely followed party lines. The agreement passed 51-50 in the Senate, with Vice President Dick Cheney breaking...

Supreme Court rules on any willing provider laws. (Policy Watch).(Kentucky's 'any willing provider' laws for health insurance are upheld)(Brief Article)
May 1, 2003... On April 2, the U.S. Supreme Court affirmed lower court decisions that upheld Kentucky's "any willing provider" laws. Kentucky's statutes provide that "a health insurer shall not discriminate against any provider who is located within the...

CMS predicts Medicare physician payment rates will drop in 2004. (Policy Watch).(Medicare payment rates to physicians will decline by an estimated 4.2% in 2004)(Brief Article)
May 1, 2003... Medicare payment rates to physicians will decline by an estimated 4.2 percent in 2004 CMS predicted in a March 20, 2003, letter to MedPAC. According to CMS, from 2004 to 2007, physician fee schedule rates will decrease as the current payment...

OIG unveils compliance guidelines for ambulance providers. (Policy Watch).(Brief Article)
May 1, 2003... The HHS Office of Inspector General (OIG) published compliance program guidance for ambulance providers in the March 24, 2003, Federal Register. The rule provides guidelines for ambulance providers to develop a sound compliance program that...

Medicare insolvency to come earlier than reported last year. (Policy Watch).(Medicare insolvency could be reached by 2026)(Brief Article)
May 1, 2003... The Medicare Hospital Insurance Trust Fund (Part A) will dry up four years earlier than predicted last year, according to the March 17 report of the Medicare trustees. The report predicts insolvency by 2026 due to higher-than-expected spending,...

FDA proposes bar code technology on drug labels. (Policy Watch).(certain human drug product labels and biological product labels will need bar codes, according to an FDA proposal)(Brief Article)
May 1, 2003... Certain human drug product labels and biological product labels will be required to have bar codes, according to a new rule proposed by the Food and Drug Administration (FDA). According to the FDA, this technology would reduce medication errors...

Federal agencies adopt uniform health information standards. (Policy Watch).(the Department of Defense, the Department of Veterans Affairs, and the Department of Health and Human Services adopt uniform standards)(Brief Article)
May 1, 2003... Three federal departments announced on March 21 that they would adopt uniform standards for the electronic exchange of clinical health information across the federal government. HHS, the Department of Defense (DOD), and the Department of...

GAO says CMS should allow staffing companies to bill Medicare. (Policy Watch).(Brief Article)
May 1, 2003... CMS should allow staffing companies that retain contractor physicians to enroll in the Medicare program, the General Accounting Office (GAO) stated in a report to Congress titled medicare Provider Enrollment: Opportunities to Enhance Program...

A local government is subject to qui tam False Claims Act lawsuits, the U.S. Supreme Court ruled on March 10. (In Brief).(Brief Article)
May 1, 2003... A local government is subject to qui tam False Claims Act lawsuits, the U.S. Supreme Court ruled on March 10. The court's decision in Cook County v. United States ex ref. Chandler clarified that the term "person" in the act clearly includes...

The Occupational Safety and Health Administration published ergonomics guidelines for nursing homes to help reduce the number and severity of work-related musculoskeletal disorders. (In Brief).(Brief Article)
May 1, 2003... The Occupational Safety and Health Administration published ergonomics guidelines for nursing homes to help reduce the number and severity of work-related musculoskeletal disorders. The nursing home guidelines focus on developing a process for...

HHS action to enhance state readiness. (Policy Watch).(HHS Secretary Tommy Thompson announces $1.4 billion for states to help prepare for public health emergencies)(Brief Article)
May 1, 2003... On March 20, HHS Secretary Tommy Thompson announced that $1.4 billion will be provided to states this year to enhance their preparations for public health emergencies. States may get up to 20 percent of their 2003 funding to support current...

Military personnel may invoke Civil Relief Act. (Policy Watch).(Brief Article)
May 1, 2003... One homefront impact of the war is that some military personnel have started to contact providers and insurance plans to seek financial relief under the Soldiers' and Sailors' Civil Relief Act of 1940 (SSCRA). This act suspends civil and...

The state Medicaid crisis: benefits and eligibility on the block. (State Policy Watch).(a discussion of how state Medicaid programs should respond to their financial crises)
May 1, 2003... The recent downturn in the nation's economy has created a crisis for state Medicaid programs. Governors and state legislatures have had to decide how to provide Medicaid coverage with substantially declining revenue. Should they cut back...

Create the future--enjoy the present. (From the Chairman).(a discussion of career planning)(Column)
May 1, 2003... Life is like juggling five balls. The career ball is made of rubber. If you drop it, it will bounce--perhaps in a different direction, but it will bounce nonetheless. The other four balls are made of glass and will shatter if dropped. These...

HealthSouth executives charged with accounting fraud. (Industry Watch).
May 1, 2003... The Securities and Exchange Commission (SEC) has charged HealthSouth Corporation's CEO and chairman, Richard Scrushy, and other senior officers with conspiracy to commit massive accounting fraud, according to the SEC on March 19. The commission...

Hospital M&A activity falls in 2002. (Industry Watch).(mergers and acquisitions)(Brief Article)
May 1, 2003... Hospital mergers and acquisitions (M&As) dropped in 2002, hitting the lowest level of transactions in 10 years, according to Irving Levin Associates, Inc., New Canaan, Conn. In 2002, 58 deals were announced involving 101 hospitals, compared...

Study points to drop in average physician income. (Industry Watch).(beteen 1995 and 1999)(Brief Article)
May 1, 2003... Average physician net income from medical practice dropped 5 percent in real dollars between 1995 and 1999, while other skilled professionals' average income increased 3.5 percent, according to a study recently released by the Center for...

Study assesses quality improvement investment. (Industry Watch).(a study indicates that healthcare facilities may not invest in quality improvement unless profits will increase)(Brief Article)
May 1, 2003... A study published in the March 2003 Health Affairs suggests that healthcare facilities may be discouraged from investing in quality improvement interventions if efforts to achieve higher quality do not increase profit margins. To understand the...

CMS: managed care premiums staying ahead of projected medical costs. (Industry Watch).(Brief Article)
May 1, 2003... Most managed care organizations have grown "healthier" during 1999-2002, according to the GMS Market Update on managed care organizations released March 24. Profit margins increased from 1.8 to 4.4 percent for the publicly traded companies. The...

GAO: large communities with many insured see more ED crowding. (Industry Watch).(emergency departments)(Brief Article)
May 1, 2003... Hospitals experiencing the most problems with emergency-department (ED) crowding are located in large metropolitan areas with high population growth, according to a recent report issued by the U.S. General Accounting Office (GAO). In FY01,...

Survey finds strong support for technologies to improve patient safety. (Industry Watch).(23% of Americans say they or a family member have received the wrong medication from a healthcare professional)(Brief Article)
May 1, 2003... Twenty-three percent of Americans--nearly one in four--say they or a family member have received the wrong medication at some point from a healthcare professional, according to the latest AmerisourceBergen Index released recently. The survey...

Life expectancy in the United States rose to 77.2 years in 2001. (Industry Watch).(Brief Article)
May 1, 2003... Americans' life expectancy hit an all-time high of 77.2 years in 2001, according to a Centers for Disease Control and Prevention (CDC) report released March 14. Mortality declined by more than 7 percent for influenza/pneumonia, nearly 5 percent...

Physicians have limited time to provide quality preventive care. (Industry Watch).(a study by the Duke University Medical Research team finds)(Brief Article)
May 1, 2003... Physicians do not have the time to offer preventive healthcare services to their patients, according to a study by the Duke University Medical Research team. The study, "Primary Care: Is There Enough Time for Prevention?" was published in the...

Billing project update featured at ANI. (HFMA News).(HFMA will provide an update of patient friendly billing activities at the 2003 Annual National Institute in Baltimore)(Brief Article)
May 1, 2003... HFMA will provide an update of PATIENT FRIENDLY BILLING[R] activities on Monday, June 23, at the 2003 Annual National Institute (ANT) in Baltimore. Patient Friendly Billing is a nationwide initiative to make financial communications with...

FASB cites P&P Board issue analysis. (HFMA News).(FASB's Emerging Issue Task Force cites an issue analysis prepared by HFMA's Principles and Practices Board)(Brief Article)
May 1, 2003... FASB's Emerging Issue Task Force has cited an issue analysis prepared by HFMA's Principles and Practices (P&P) Board as a resource for its background work for a statement on the meaning of other-than-temporary impairment and its application to...

ANI scholarship recipient announced. (HEMA News).(Annual National Institute)
May 1, 2003... Michelle Tetreault, CPA, a member of HFMA's Rhode Island Chapter, has been named the recipient of this year's HFMA Chairman's Annual National Institute (ANI) scholarship. The scholarship, which covers full tuition to ANI as well as housing and...

Transaction certification assistance. (HFMA News).
May 1, 2003... To comply with the administrative simplification provisions of HIPAA, all covered entities must test and certify that their transactions have the proper formats and data contents specified in the implementation guides. To help facilitate...

Lessons from Canada about a single-payer system. (Eye on Washington).(US states consider adopting a Canadian-style single-payer system)
May 1, 2003... "Canadian-style single-payer." I thought I had heard these words for the last time when the infamous Clinton health plan of 1993-94 came crashing down, costing the Democrats control of Congress after nearly 40 years. And yet, just this...

Surefire strategies to reduce claim denials. (Managed Care).(health care providers need to focus on preventing denials before patient care begins)
May 1, 2003... To succeed in today's managed care environment, healthcare providers need to focus on preventing denials before patient care begins. Hospitals are adept at quickly and efficiently registering patients and administering care. However, being...

Today's key drivers of physician loyalty: case studies of hospitals provide insight into how to improve physician satisfaction. (Feature Story).
May 1, 2003... An orthopedic surgeon-chief of staff at a 230 -bed hospital in the South recently told his CEO that he had teamed up with a local physician-owned and operated network of orthopedic clinics to build an outpatient surgery center. He tried to...

Developing an assessment process for new technologies: optimal investing requires a disciplined approach that considers payment potential and the organization's strategic goals. (Feature Story).(when investing in new technologies, hospitals must maintain long-term viability)
May 1, 2003... Although investing in new technologies is highly speculative, it is nevertheless essential to ensure hospitals maintain long-term viability. What's more, as competition among providers continues to increase, pressures to meet physician and...

Core competencies: a simplified look at a complicated issue: How can you recognize an extroverted accountant? He looks at your shoes instead of his own when he is speaking to you. (Leadership and Management).(a discussion of core leadership competencies for healthcare financial managers)(Column)
May 1, 2003... This joke reflects the old stereotype that bean counters get along better with numbers than with people. Communication skills are just one of the core leadership competencies healthcare financial managers need to succeed in today's marketplace....

HIPAA compliance: have you completed a risk analysis? (Digital Perspectives).(healthcare professionals need to consider the ramifications of compliance with specific porvisions of HIPAA)
May 1, 2003... Every day as healthcare professionals, we consider risk-whether it be when selecting new equipment, ordering a medication, or making an investment. But until HIPAA came along, we only considered regulatory risk relative to noncompliance with...

Synthetic refunding: a financial tool for a low interest-rate environment. (Treasury Management).(a hospital can benefit from using synthetic refunding instead of advance refunding)
May 1, 2003... Does the following situation sound familiar? Interest rates are at their lowest levels in decades. You and everyone you know have refinanced their home mortgages. What's more, your boss or your board or both have done all they can to lock...

Achieving Success Through Community Leadership. (Bookshelf).(book review)(Book Review)
May 1, 2003... By Peter A. Weil, Richard J. Bogue, and Reed L. Morton Health Administration Press, Chicago, 2001 104 pages; $44 Various authors have described the proverbial "key to success" for healthcare organizations in myriad ways. Peter Well,...

Precyse Solutions. (People).(appoints Cheryl E. Servais as a vice president)(Brief Article)
May 1, 2003... Cheryl E. Servais (Lone Star Chapter). Ms. Servais has been appointed vice president, compliance and privacy officer, Precyse Solutions, Dallas. Formerly she was consultant/domain expert, eWebCoding/InterTech, Atlanta.

Masonicare. (People).(promotes Stephen B. McPherson to executive vice president and COO)(Brief Article)
May 1, 2003... Stephen B. McPherson (Connecticut Chapter). Mr. McPherson has been promoted from senior vice president for finance and CFO to executive vice president and COO, Masonicare, Wallingford, Conn. Previously, he was vice president, finance and CFO,...

Vinson & Elkins. (People).(hires Christopher L. Keough)(Brief Article)
May 1, 2003... Christopher L. Keough (Washington Metropolitan Chapter). Mr. Keough has joined the law firm of Vinson & Elkins, Washington, D.C., as partner. Previously, he was a principal with Powers Pyles Sutter & Verville, P.C., Washington, D.C.

St. Luke's Hospital. (People).(names James H. Strong as CFO)(Brief Article)
May 1, 2003... James H. Strong (Northern California Chapter). Mr. Strong has been appointed CFO, St. Luke's Hospital, San Francisco. Previously, he was CFO, San Louis Obispo General Hospital, San Louis Obispo, Calif.

Tenet Healthcare Corporation. (People).(appoints Trevor Fetter as president)(Brief Article)
May 1, 2003... Trevor Fetter (Northern California Chapter). Mr. Fetter has been appointed president, Tenet Healthcare Corporation, Santa Barbara, Calif. Formerly, he was chairman and CEO, Broadlane, Inc., San Francisco. He remains as Broadlane's chairman.

Southwest Diagnostic Imaging Center. (People).(promotes Bryan Schneider)(Brief Article)
May 1, 2003... Bryan Schneider (Lone Star Chapter). Mr. Schneider has been promoted from business office director to director, patient financial services, Southwest Diagnostic Imaging Center, Presbyterian Hospital, Dallas.

Athens Regional Health Systems, Inc. (People).(promotes Dominque S. Bennett to director of audit services)(Brief Article)
May 1, 2003... Dominique S. Bennett (Georgia Chapter). Ms. Bennett has been promoted from senior internal auditor to director of audit services, Athens Regional Health Systems, Inc., Athens, Ga.

Children's Medical Center. (People).(appoints Christopher J. Durovich as president and CEO)(Brief Article)
May 1, 2003... Christopher J. Durovich (Texas Gulf Coast Chapter). Mr. Durovich has been appointed president and CEO, Children's Medical Center, Dallas. Formerly he was vice president, The University of Texas M.D. Anderson Cancer Center, Houston.

Nix Health. (People).(hires Lucinda L. Catala as controller)(Brief Article)
May 1, 2003... Lucinda L. Catala, CPA (South Texas Chapter). Ms. Catala has been appointed controller, Nix Health, San Antonio. Previously, she was accounting manager, PacifiCare, San Antonio.

Valley Baptist Medical Center. (People).(names Bill Stewart as director of patient accounts)(Brief Article)
May 1, 2003... Bill Stewart (South Texas Chapter). Mr. Stewart has been named director, patient accounts, Valley Baptist Medical Center, Harlingen, Tex. Formerly he was a consultant, D-MED Corporation, Plano, Tex.

Mercy Capitol. (People).(names Carrie Harris-Knight as perioperative operations director)(Brief Article)
May 1, 2003... Carrie Harris-Knight (Iowa Chapter). Ms. Harris-Knight has been appointed perioperative operations director, Mercy Capitol, Des Moines, Iowa. Previously, she was administrator, HealthSouth Surgery Center, Des Moines.

Group Health Incorporated. (People).(names Jane C. Florek as vice president of network management)(Brief Article)
May 1, 2003... Jane C. Florek, CPA (Metropolitan New York Chapter). Ms. Florek has been named vice president, network management, Group Health Incorporated, New York. Formerly, she was executive director of network development, One Health Plan of New York and...

Small U.S. hospitals responding to financial pressures. (Data Trends).
May 1, 2003... Rising demands for inpatient services and increasing costs per adjusted discharge are just two of the challenges facing hospitals today. However, new data suggest that small U.S. hospitals--those with fewer than 150 beds--are finding ways to...

Capital crunch. (From the President).(inpatient and outpatient service volume at hospitals and health systems, but profitability is flat)
May 1, 2003... What's wrong with this picture? The volume of inpatient and outpatient services provided at hospitals and health systems is up but profitability is generally flat. The demand for capital expenditures has never been higher, but low-cost...