Healthcare Financial Management articles from May 2004

Healthcare Financial Management archives from May 2004

CMS releases physician referral regulations, phase II.(Centers for Medicare and Medicaid Services)
May 1, 2004... The March 26 Federal Register included the long-awaited second phase of rules establishing new exceptions to the physician referral regulations and permissible physician investment and compensation arrangements. The regulations pertain to...

Transmittal changes standardized rates, DSH adjustments.(Policy Watch)(disproportionate-share-hospital )(Brief Article)
May 1, 2004... CMS has issued implementation instructions pertaining to sections of the Medicare Prescription Drug, Improvement, and Modernization Act (MMA) that equalize the national adjusted operating standardized amounts for large urban and other areas....

CMS announces HIPAA-related changes to institutional claims.(Centers for Medicare and Medicaid Services)(Health Insurance Portability and Accountability Act of 1996)(Brief Article)
May 1, 2004... CMS announced changes to data required by HIPAA for processing the X12N 837 institutional claims. The announcement came in a March 25 implementation guide to providers. Effective July 1, 2004, Medicare will require certain data elements...

CMS provides details on specialty hospital moratorium.(Centers for Medicare and Medicaid Services)(Brief Article)
May 1, 2004... On March 19, CMS published a one-time notification explaining the moratorium on specialty-hospital physician investment and referral, mandated by the Medicare Prescription Drug, Improvement, and Modernization Act (MMA). Under the moratorium, a...

Providers express concerns about undocumented-alien process.(Policy Watch)
May 1, 2004... Providers are asking CMS for a straightforward, realistic process for documenting and verifying that a patient is an undocumented alien under the Medicare Prescription Drug, Improvement, and Modernization Act (MMA). The request came at a CMS...

MedPAC supports MMA physician payment update.(Policy Watch)
May 1, 2004... At its March 18 meeting, the Medicare Payment Advisory Commission (MedPAC), a nonpartisan adviser to Congress on Medicare program issues, voiced support for the 1.5 percent minimum update to physician payments for 2005 provided for in the...

... On March 15, CMS published 2004 payment limits for drugs and biologicals not paid on a cost or prospective payment basis for services furnished April 1, 2004, through December 31, 2004.
May 1, 2004... ... On March 15, CMS published 2004 payment limits for drugs and biologicals not paid on a cost or prospective payment basis for services furnished April 1, 2004, through December 31, 2004. The payment change, mandated by the Medicare...

... On March 25, 2004, HHS Secretary Tommy G. Thompson announced the approval of 28 private sponsors to provide seniors and people with disabilities with prescription discount drug cards, beginning June 1.
May 1, 2004... ... On March 25, 2004, HHS Secretary Tommy G. Thompson announced the approval of 28 private sponsors to provide seniors and people with disabilities with prescription discount drug cards, beginning June 1. Medicare beneficiaries will receive...

GAO and OIG recommend UPL and IGT restrictions.(Policy Watch)(General Accounting Office)(Office of Inspector General)(upper payment limit)(intergovernmental transfer)(Brief Article)
May 1, 2004... Congress should close the loophole permitting enhanced Medicaid payments that exceed actual costs of providing services, the GAO and the HHS Office of Inspector General (OIG) recommended. At issue is CMS administration of intergovernmental...

Parity issues fade amid states' economic woes.(State Policy Watch)(health insurance)
May 1, 2004... For a while, it seemed states were bent on requiring health insurers to provide coverage of mental health and substance abuse services on a par with the coverage for other services. Now, it seems states are taking a step back to reconsider the...

Personally, it's been a great year: Phyllis Cowling was right. (Is she ever wrong?) What a great experience serving as HFMA Chairman has been this past year! What a privilege!(From The Chairman)(Healthcare Financial Management Association)
May 1, 2004... Yes, this is my last column, and I cannot begin to thank all of you enough for your support and inspiration during the year. I would like to especially thank senior editor Carole Bolster, who really was responsible for taking a few words and...

Medicare solvency shrinks by seven years.(Industry Watch)(Brief Article)
May 1, 2004... The financial status of the Hospital Insurance (HI) Trust Fund has deteriorated significantly, with asset exhaustion projected in 2019 under current law, compared with 2026 in last year's report, according to Medicare trustees in their March 23...

Physician charges drive up consumer medical costs in February.(Industry Watch)(Brief Article)
May 1, 2004... Consumers' medical costs rose 0.6 percent in February to a level 4.2 percent higher than a year ago, the Bureau of Labor Statistics reported March 17. By comparison, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5...

ED visits continue to rise.(Industry Watch)(emergency department)(Brief Article)
May 1, 2004... From 1992 through 2002, the number of hospital emergency department (ED) visits climbed 23 percent, from 89.8 million to 110.2 million, representing an average increase of nearly 2 million visits per year, according to a new report released by...

Report advises bar-code implementation in hospitals.(Industry Watch)(Brief Article)
May 1, 2004... In late March, the Healthcare Distribution Management Association (HDMA) released Medication Errors and Patient Safety: The Barcode Connection, a new report that makes recommendations for bar-code implementation in the hospital setting. The...

Survey: healthcare reform plays role in election.(Industry Watch)(Brief Article)
May 1, 2004... Rising healthcare costs and growing instability in insurance coverage are ensuring that health reform is a key issue this election year, according to The Affordability Crisis in U.S. Health Care, a Commonwealth Fund survey released on March 29....

Managed care industry to face a number of challenges in 2004.(Industry Watch)(Brief Article)
May 1, 2004... Rising costs, the uninsured, medical cost inflation, and healthcare affordability continue to be the dominant issues facing the managed care industry in 2004, according to a new report by Cap Gemini Ernst 8, Young LLC Health. The study is based...

Group practices thrive despite rising costs.(Industry Watch)(Brief Article)
May 1, 2004... Some medical group practices continue to be successful despite declining payment, rising operating costs, and a workforce shortage, according to a study by the Medical Group Management Association (MGMA). In its 2003 report on performance and...

Insuring parents may remove access barriers for children.(Expanding Medicaid and State Children's Health Insurance Program)(Brief Article)
May 1, 2004... Expanding Medicaid and State Children's Health Insurance Program (SCHIP) coverage to include working poor parents would reduce the number of uninsured and may improve healthcare access for children, according to Addressing Coverage Gaps for...

Hospital admissions for long-term complications of diabetes per 100,000 population.(Industry Watch)(Brief Article)(Illustration)
May 1, 2004... Hospital Admissions for Long-Term Complications of Diabetes per 100,000 Population White 88 Black 291 Hispanic 176 Asian or Pacific Islander 54 Source: DGA...

More unauthorized insurers scam customers.(Industry Watch)(Brief Article)
May 1, 2004... A growing number of unauthorized entities are selling health insurance to employers and individuals, leaving millions of dollars in unpaid claims, according to a February report from the GAO. The report, Private Health Insurance: Employers and...

Quotes of note.(healthcare industry)(Brief Article)
May 1, 2004... "Projected Medicare costs would exceed those for Social Security in 2024. By 2078, the level of Medicare expenditures would represent nearly twice the cost of Social Security." --from the 2004 Medicare Trustee's Report to Congress and the...

Expenditure for hospice care higher than for tradition care.(Industry Watch)(Brief Article)
May 1, 2004... Medicare expenditures were 4 percent higher among beneficiaries who received hospice care during the last year of life than for those who used traditional medical care, according to a study published by RAND Corporation, a not-for-profit...

Founders program changes announced.(Founders Merit Award program)
May 1, 2004... BACKGROUND Since its inception in 1960, the Founders Merit Award Program has served to acknowledge the volunteer contributions made by HFMA members. Over the years, the Founders Merit Award Program evolved to include ties to certification,...

Dare we use the word (gasp)--"rationing"?(Eye On Washington)
May 1, 2004... Healthcare rationing has long been a third-rail issue for U.S. health care. Poll-sensitive politicians and fainthearted academics alike have conspicuously avoided touching that rail, unwilling to openly suggest that the nation may require some...

3 steps to profitable managed care contracts.(Managed Care)
May 1, 2004... If you are a typical healthcare financial executive, you probably have spent some sleepless nights wondering how you'll increase your organization's operating margins and improve its financial performance. Perhaps you've focused on the expense...

Medicare payment monitoring systems: 20 questions.(Medicare/Medicaid)
May 1, 2004... As publicity increases over ongoing government attempts to uncover violations of Medicare regulations and the False Claims Act, hospitals are realizing more than ever the importance of proactively monitoring and correcting compliance...

How are hospitals financing the future? The future of capital access.(Report 4 Executive Summary)
May 1, 2004... Financing the Future is a year-long project to help hospitals take advantage of growth opportunities. Led by HFMA in partnership with GE Healthcare Financial Services, the project provides information, insights, strategies, and tools designed...

A capital idea bonds and nontraditional financing options: increasing capital demands are prompting cash--strapped hospitals to take a closer look at bond offerings and nontraditional sources of capital.(Cover Story)
May 1, 2004... Jill Smith, the CFO of Community Hospital, is worried. Community Hospital's financial outlook is bleak, and Jill and the executive team are concerned about the hospital's future. Community Hospital is a mid-size urban hospital with an aging...

New directions in Medicare managed care: the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 makes regional, open network plans a reality.(Commentary)
May 1, 2004... Much ink has already been spilled extolling t he perceived virtues--and vices--of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) in general and of private delivery in particular. Most of the rhetoric, infected...

So you want to be a CFO? Do you have the right stuff to be a good CFO? You do if you have both technical and leadership skills.(Feature Story)(chief financial officer)
May 1, 2004... When I was looking for an industry to specialize in after working a few years in public accounting, a mentor gave me some advice I never forgot. "Go into health care," he said. "It's a huge industry, really challenged for leadership." As we...

Your capital strategy plan and deliver: transitioning to a comprehensive capital plan helps healthcare systems best prioritize investments and respond to today's service challenges.(Feature Story)
May 1, 2004... It's an era that saw the dawn of pet rocks, Saturday Night Fever, and the Mary Tyler Moore Show. And chances are, your capital planning process. Although the 1970s may evoke fond pop culture memories, their impact on your organization's...

An alternative to real estate ownership: selling a property doesn't mean losing control. A variety of options will let you maintain control while freeing cash to invest in core services.(Feature Story)
May 1, 2004... One-third to one-half of total healthcare organization assets typically take the form or land and buildings. Yet many organizations could do a better job of optimizing the considerable financial, operational, or strategic potential of these...

The cost of staying young: using a metric called the recap rate can help you determine the investment necessary to maintain and restore your buildings.(Feature Story)
May 1, 2004... Each year, facility and financial managers struggle to allocate appropriate funding for facilities upgrades, renewal, and expansion. Although the budget for routine maintenance of buildings remains relatively steady from year to year, and the...

Linking supply costs and revenue: the time has come.
May 1, 2004... What hospital CFO hasn't, at least once, thought of an industrial assembly line with envy? Imagine knowing exactly what implants were used for every total hip or knee replacement performed--and what these hightech devices cost. Think about the...

Maintaining the strength of your convictions: given the recent rash of ethical transgressions within and beyond health care, discussions about ethical standards, conflicts of interest, and moral decision making are occurring nationwide. This is a good thing!(Leadership And Management)
May 1, 2004... Because patients and their families tend to be in a vulnerable state when seeking health care, they demand and deserve honesty from and integrity in healthcare organization leaders: executives, boards, clinicians, and staff. In ranking...

First communication, then automation.(Digital Perspectives)
May 1, 2004... Although there has been significant focus on computerized physician order entry (CPOE) and automation to reduce errors in medication administration, healthcare providers may overlook an equally important factor in error reduction--maintaining...

(Coat)tails, you win.(New Revenue Growth)(Direct-to-Consumer Advertising)
May 1, 2004... Conventional wisdom holds that the cheapest dollar you can spend is the one you never need to. ********** And such is the case with one of today's most valuable cost savings opportunities, coattail marketing. Or what I like to call...

21st century treasurers: leveraging assets--and themselves.(Capital Finance)(Health care industry)
May 1, 2004... Several weeks ago, Financial Executives International and Treasury & Risk Management magazine hosted a national conference, "A Vision for Tomorrow's Treasurer," to explore the evolving strategic role for treasury professionals. **********...

Epidemic of Care: a Call for Safer, Better, and More Accountable Health Care.(Book Review)
May 1, 2004... George C. Halvorson and George J. Isham Jossey-Bass San Francisco, 2003 www.josseybass.com/ WileyCDA/ 271 pages; $30 In Epidemic of Care: A Call for Safer, Better, and More Accountable Health Care, the authors candidly address the question,...

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

Jennings, Ryan & Kolb.(People)(appointments)(Brief Article)
May 1, 2004... Susanna E. Krentz (First Illinois Chapter) Ms. Krentz has been promoted from vice president to practice leader and executive vice president, Jennings, Ryan & Kolb, Chicago.

Visiting Nurse Association.(People)(Brief Article)
May 1, 2004... Frank E. LaPorta (Metropolitan New York Chapter) Mr. LaPorta has been appointed senior vice president of finance, CFO, Visiting Nurse Association of Hudson Valley, Mount Kisco, N.Y. Previously, he was associate executive director, CFO, NYC...

Siemens.(People)(appointments at Siemens, Health Services Division)(Brief Article)
May 1, 2004... Terry Allison, FHFMA, CPAM (Texas Gulf Coast Chapter) Ms. Allison has joined Siemens, Health Services Division, Dallas, as engagement manager. She had been manager, Healthcare Practice, Cap Gemini Ernst & Young, Houston.

First Health.(People)(appointments at First Health Group Corp.)(Brief Article)
May 1, 2004... Paula Dillon (First Illinois Chapter) Ms. Dillon has been named product development director, First Health, Downers Grove, Ill. She had been director of managed care and business development, Sinai Health System, Chicago.

Triad Hospitals, Inc.(People)(executive promotions)(Brief Article)
May 1, 2004... Tabitha Lee (Lone Star Chapter) Ms. Lee has been promoted from accounting supervisor to accounting manager, Triad Hospitals, Inc., Plano, Tex.

High-speed relaxation.(Spotlight On HFMA Members)(Rick Wagner)(Brief Article)
May 1, 2004... Rick Wagner, FHFMA, CPA, a member of HFMA's Oklahoma Chapter and the Chapter Advancement Team for Region 9, has an unusual way to relax outside of work. He races motorcycles in the Central Motorcycle Roadracing Association (CMRA). CMRA races...

Monongahela Valley Hospital.(People)(Brief Article)
May 1, 2004... Louis J. Panza, Jr., FHFMA, CPA (Western Pennsylvania Chapter) Mr. Panza has been appointed president and CEO, effective July 1, 2004, Monongahela Valley Hospital, Monongahela, Pa. Currently, he is senior vice president, finance, and...

Moore Corporate Real Estate, Inc.(People)(Brief Article)
May 1, 2004... Renee Segina (Western New York Chapter) Ms. Segina has been named corporate controller, Moore Corporate Real Estate, Inc., Rochester, N.Y. Previously, she was audit manager, Lumsden & McCormick, LLP, Buffalo, N.Y.

Adventist Health System.(People)(Brief Article)
May 1, 2004... Kelli A. Chalker (Florida Chapter) Ms. Chalker has been promoted from accounting manager, Adventist Health System, Winter Park, Fla., to director of accounting.

Washington Hospital.(People)(appointments)(Brief Article)
May 1, 2004... Namrata Jain (Northern California Chapter) Ms. Jain has been appointed senior director of contract services, Washington Hospital, Freemont, Calif. Previously, she was contracts negotiator. El Camino Hospital, Mountain View, Calif.

Howard, Wershbale & Co.(People)(appointments)(Brief Article)
May 1, 2004... Pamela Skrzynski (Northeastern Ohio Chapter) Ms. Skrzynski has joined Howard, Wershbale & Co., Cleveland, as billing consultant. Previously, she was vice president of billing operations, Altercare of Ohio, Inc., North Canton, Ohio,

Fletcher Allen Health Care.(People)(appointments)(Brief Article)
May 1, 2004... Scott A. Comeau (New Hampshire/Vermont) Mr. Comeau has joined Fletcher Allen Health Care, Burlington, Vt., as practice administrator, hospital-based services. Formerly, he was senior software designer, IDX Systems, South Burlington, Vt.

Midwest Regional Medical Center.(People)(appointments)(Brief Article)
May 1, 2004... Julie Berndt (Oklahoma Chapter) Ms. Berndt has been appointed controller, Midwest Regional Medical Center, Midwest City, Okla. She had been director of strategic planning and budgeting, Blanchard Valley Health Association, Findlay, Ohio.

Washington Imaging Services, LLC.(People)(appointments)(Brief Article)
May 1, 2004... Michael R. Cross, FHFMA (Washington/Alaska Chapter) Mr. Cross has been appointed director of finance, Washington Imaging Services, LLC, Bellevue, Wash. He had been business operations manager, Northwest Hospital & Medical Center, Seattle.

Financial Health Services, Inc.(People)(appointments)(Brief Article)
May 1, 2004... Andrew W. Smith (South Texas Chapter) Mr. Smith is now executive vice president and co-owner of Financial Health Services, Inc., Collinsville, Ill. Formerly, he was account executive, Financial Corporation of America, Austin, Tex.

Mercy Health System of Oklahoma.(People)(Brief Article)
May 1, 2004... Jeff Mincher (Oklahoma Chapter) Mr. Mincher has been named director, patient financial services, Mercy Health System of Oklahoma, Oklahoma City. He had been senior consultant-network development, Blue Cross Blue Shield of Oklahoma,...

2004 Woman Business Owner of the Year.(People)(Miriam J. Paramore of PCI: E-Commerce for Healthcare for Woman Business Owner of the Year award by The National Association of Women Business Owners )
May 1, 2004... Miriam J. Paramore (Kentucky Chapter) Ms. Paramore, president and CEO, PCI: E-Commerce for Healthcare, Louisville, Ky., was nominated by The National Association of Women Business Owners (NAWBO) for the 2001, Woman Business Owner of the...

St. Luke's Episcopal Health Systems.(People)(executive promotions)(Brief Article)
May 1, 2004... Mark D. Evard (Texas Gulf Coast Chapter) Mr. Evard has been promoted from manager, nongovernmental receivables, to director, patient financial services. St. Luke's Episcopal Health Systems, Houston.

Tahoe Forest Hospital District.(People)(appointments )(Brief Article)
May 1, 2004... Crystal Belts (Northern California Chapter) Ms. Betts has joined Tahoe Forest Hospital District, Truckee, Calif., as controller. Formerly, she was controller/CFO/deputy administrator, Trinity Hospital, Weaverville, Calif.

Dekalb Medical Center.(People)(appointments)(Brief Article)
May 1, 2004... Debra Lee (Georgia Chapter) Ms. Lee has been appointed patient account manager, Dekalb Medical Center, Decatur, Ca. Previously, she was administrative manager, Miami Valley Hospital, Dayton, Ohio.

Lewistown Hospital.(People)(executive promotions)(Brief Article)
May 1, 2004... Gary Miller (Appalachian Chapter of Central Pennsylvania) Mr. Miller has been promoted from senior accountant to revenue analyst, Lewistown Hospital, Lewistown, Pa.

Robert Thompson.(promoted to assistant vice president at St. Luke's Episcopal Health System)(Brief Article)
May 1, 2004... Robert Thompson (Texas Gulf Coast Chapter) Mr. Thompson has been promoted from director, patient financial services to assistant vice president, revenue cycle management, St. Luke's Episcopal Health System, Houston.

Capital as percentage of total costs declining in U.S. hospitals.(Data Trends)
May 1, 2004... Over the past six years, U.S. hospitals have faced the challenge of meeting critical obligations with a reduced margin. New data suggest that meeting important future obligations--such as investments in plant, equipment, or technology--is...

Yes, Dave it's personal: "HFMA is my evolution of personal growth and friendship.".(From The President)(Healthcare Financial Management Association)(Dave Canfield)
May 1, 2004... This comment from Gail Holt, FHFMA, CFO at Memorial Hospital in Chester, Ill., captures the spirit of so many responses we've received to "HFMA: It's Personal"--the theme HFMA Chairman Dave Canfield chose as the Association's 53rd chief...