Healthcare Financial Management articles from May 2005

Healthcare Financial Management archives from May 2005

IRS finds growing abuses in the tax-exempt sector.(POLICY WATCH)(Brief Article)
May 1, 2005... Abuse is a growing problem in the tax-exempt sector, the Internal Revenue Service commissioner Mark Everson told the Senate Finance Committee on April 5, and the government should act quickly to deter it. Everson stated that the huge increase...

Sarbanes-Oxley compliance costs exceed estimates.(POLICY WATCH)(Brief Article)
May 1, 2005... Total costs for the first year of compliance with Section 404 of the Sarbanes-Oxley Act averaged almost 40 percent more than was expected, according to a survey of 217 public companies by Financial Executives International. This result stems...

Web site allows consumers to compare hospital quality.(POLICY WATCH)(Brief Article)
May 1, 2005... On April 1, the Department of Health and Human Services launched the Hospital Compare web site, the latest in the line of healthcare quality data reporting sites that are part of the agency's overall quality improvement initiative. Currently,...

Proposed rule would loosen Medicare hospital conditions of participation.(POLICY WATCH)(Brief Article)
May 1, 2005... Certain hospital requirements for completing history and physical examinations, authenticating oral orders, securing medications, and completing postanesthesia evaluations as part of Medicare conditions of participation would be relaxed under a...

... In its April 2005 update (Transmittal 514) to Medicare's hospital outpatient PPS (Transmittal 514), the Centers for Medicare and Medicaid Services has restated its Jan. 6 summary of eliminated requirements for payment for observation services and added one that was omitted.(Brief Article)
May 1, 2005... ... In its April 2005 update (Transmittal 514) to Medicare's hospital outpatient PPS (Transmittal 514), the Centers for Medicare and Medicaid Services has restated its Jan. 6 summary of eliminated requirements for payment for observation...

Medicare demo would use auditors to assess payment accuracy.(POLICY WATCH)(Brief Article)
May 1, 2005... The Centers for Medicare and Medicaid Services is launching a three-year demonstration project that will use "recovery audit contractors" to search for improper Medicare payments made to California, Florida, and New York healthcare providers...

McClellan seeks to curb physician spending growth.(POLICY WATCH)(Mark McClellan, administrator of the Centers for Medicare and Medicaid Services)(Brief Article)
May 1, 2005... Mark McClellan, administrator of the Centers for Medicare and Medicaid Services, has advised the Medicare Payment Advisory Commission that CMS foresees an estimated negative 4.3 percent physician fee schedule adjustment for 2006, but will...

... The services of rural health clinic and federally qualified health center physicians, physician assistants, and nurse practitioners caring for patients in skilled nursing homes or swing beds, may be billed by the RHC or FQHC rather than included in the skilled care consolidated bill, according to Centers for Medicare and Medicaid Services staff at the March 30 rural health Open Door Forum.(Brief Article)
May 1, 2005... ... The services of rural health clinic and federally qualified health center physicians, physician assistants, and nurse practitioners caring for patients in skilled nursing homes or swing beds, may be billed by the RHC or FQHC rather than...

... The Centers for Medicare and Medicaid Services recalled transmittal 3460, which provided instructions on how to submit incident-to claims on electronic claim forms.(Brief Article)
May 1, 2005... ... The Centers for Medicare and Medicaid Services recalled transmittal 3460, which provided instructions on how to submit incident-to claims on electronic claim forms. According to a CMS official, the Sept. 17, 2004, transmittal was rescinded...

Part B premiums to increase 12 percent.(POLICY WATCH)(Brief Article)
May 1, 2005... Monthly Medicare Part B premiums will increase from $78.20 to $87.70 next year, a 12 percent increase, the recent Medicare and Social Security trustees report found. Part B of the Supplementary Medical Insurance fund pays for physician visits...

Hospital price disclosure bill introduced.(POLICY WATCH)(Brief Article)
May 1, 2005... The first effort to regulate hospital price disclosure was recently introduced in the House. The Hospital Price Disclosure Act (H.R. 1362), sponsored by Rep. Dan Lipinski (D-Ill.) and Rep. Bob Inglis (R-S.C.), would require hospitals to report...

Regulating pharmacy benefit managers with transparacy: the potential for unscrupulous business practices in the multibillion-dollar prescription drug industry has attracted state lawmakers' attention.(STATE POLICY WATCH)
May 1, 2005... Many are questioning the role of pharmacy benefits managers as intermediaries between drug manufacturers and health plans. Their concern is that lack of transparency in the industry makes it impossible to verify whether a PBM is fulfilling its...

Serving HFMA: a wonderful journey: serving as HFMA chairman this past year has been the most rewarding experience of my life, both personally and professionally.(FROM THE CHAIRMAN)(Joyce Zimowski)(Healthcare Financial Management Association)
May 1, 2005... By now, most of you have seen HFMA's Financing the Future reports. During chapter visits over the past year, I've highlighted findings from these reports. Access to capital is one of the biggest challenges healthcare financial managers face....

AHRQ study shows need for thorough testing of CPOE.(INDUSTRY WATCH)
May 1, 2005... Is it possible that computerized physician order entry systems, the hoped-for magic bullet to stop prescription errors, could actually contribute to those errors? Perhaps--at least according to a two-year study supported by the Agency for...

More charity care lawsuits dismissed.(INDUSTRY WATCH)(Kolari v. New York-Presbyterian Hospital)(Brief Article)
May 1, 2005... The past two weeks saw the dismissal of federal lawsuits against tax-exempt hospitals in New York, Arizona, and Illinois over billing and charging the uninsured for healthcare services. Judges rejected plaintiffs' arguments that federal law...

Not-for-profit health systems adopting corporate practices.(INDUSTRY WATCH)(Brief Article)
May 1, 2005... The governing boards of large not-for-profit health systems are adopting practices normally associated with publicly traded corporations, but the changes stop short of full acceptance of a corporate model, according to a new white paper by The...

Study shows limited use of electronic medical records.(INDUSTRY WATCH)
May 1, 2005... Only about one-third of the nation's hospital emergency departments and outpatient departments use electronic medical records, while an even smaller percentage of physicians' offices use them, according to survey findings from the Centers for...

Quotes of note.(INDUSTRY WATCH)
May 1, 2005... "Not only are we spending more on our health care, but where we choose to get our care matters more than ever before. Valid, consistent measures of quality care are an important tool to help us make sure we are getting the most for our...

Private payers fall behind in mental health spending.(INDUSTRY WATCH)(Brief Article)
May 1, 2005... More of the financial burden of mental health treatment shifted to public programs during the decade ending 2001, according to new research published March 29 on the Health Affairs web site. Public programs, such as Medicare and Medicaid, grew...

Financing the Future II launched.(HFMA NEWS)
May 1, 2005... HFMA recently released Financing the Future II, Report 1: Seven Principles of Best Practice Financial Management, the first in a second series of reports discussing strategies to improve capital access. Financing the Future II is being...

Brailer discusses ROI of health IT.(HFMA NEWS)(Brief Article)
May 1, 2005... Ways to measure ROI of health IT will be discussed by David Brailer, MD, PhD, national coordinator for health information technology for the U.S. Department of Health and Human Services, at HFMA's Annual National Institute this June. ...

NUBC approves UB-04.(HFMA NEWS)(National Uniform Billing Committee)(Brief Article)
May 1, 2005... The National Uniform Billing Committee, of which HFMA is a member and founder, has approved the UB-04 data set as a replacement for the UB-92. The NUBC is a voluntary, multidisciplinary committee that develops mutually agreed on data...

Correction.(Correction Notice)
May 1, 2005... In the feature "Understanding Statements Now a Virtual Cinch" in the April 2005 issue of hfm, the e-mail address for John Talaga should have read jtalaga@ healthcompartners.com.

The ownership society versus the village: themes for health care in 2008: President Bush will not be a candidate for reelection in the 2008 presidential election, but he has already set the Republican domestic agenda for that campaign. And Hillary Clinton may or may not be a candidate for president in the 2008 elections, but she has already set the tone for Democrats.(EYE ON WASHINGTON)
May 1, 2005... President Bush's call for what he has labeled an "ownership society" will be intensely debated over the remaining three years of his presidency. For the nation's healthcare industry, the president's plans are clear: his focus is on "consumer...

Financing the Future II, Report 1: principles of best practice financial management: executive summary.(hfma's financing the future)
May 1, 2005... HFMA's Financing the Future series began the process of highlighting strategies hospitals and other healthcare providers could use to improve access to capital. HFMA has launched a new Financing the Future project--Financing the Future II--that...

Contracted payers: the latest challengers to hospital billed charges.(MANAGED CARE)
May 1, 2005... Hospital billed charges are the focus of many critics. Advocates for the underinsured complain about the disproportionate impact of full charges on those least able to pay them. The Department of Health and Human Service's Office of Inspector...

Pay for performance: will your hospital be ready?(MEDICARE/MEDICAID)
May 1, 2005... A recent American Medical Association special report to members characterized this healthcare phenomenon as a "tsunami building offshore in a sea of stakeholder unrest." The cause for such concern? Programs linking payment with...

Catch the eye of the capital markets: to continue to attract investors, you need more than just bond ratings; you need a broad capital strategy.(Cover Story)
May 1, 2005... Hospitals' thirst for capital today is greater than ever, with the push for enhanced IT capacity and facility capacity. Yet many hospitals--challenged by rising costs and inadequate payment--are finding it difficult to remain attractive to the...

Real estate strategies for 2005: own or lease? With a partner or solo? Manage it yourself or hire someone to do it? These are some of the factors to consider for healthcare facility building projects.(FEATURE STORY)
May 1, 2005... Corporate finance professionals are facing more complex landscapes than their predecessors saw 10 or 20 years ago. Hospital CFOs are no different. Hospitals are faced with capital pressures from many different areas, prompting new approaches to...

Healthcare cost crisis and quality gap our national dilemma: advances in technology, prescription drugs, and diagnostic testing can cure what ails us, but the price is steep. Can we have it all?(COMMENTARY)
May 1, 2005... The relentless rise in healthcare costs in the United States continues to hold the nation back from a full economic recovery, while the related high labor costs also hurt our global competitiveness. On average, health benefit costs for active...

Technology strategy and the balance sheet 3 points to consider: what are your strategic objectives for your technologies? How are you managing them? And how are you funding them? You should have a ready answer for all these questions.
May 1, 2005... Technology. It's a topic that can stir mixed feelings in a healthcare CFO--excitement at the opportunities it presents, perplexity at the challenges of acquiring and maintaining it, and dread at the prospect of failing to meet its demands on...

10 proven strategies for reducing equipment costs: cutting costs is a way of life in health care. Given the pressure to squeeze out savings wherever possible, senior financial executives would do well to put into practice a number of tried and true strategies for saving money when acquiring and financing equipment and software.
May 1, 2005... Each stage of the acquisition and financing process provides opportunities for savings--from ensuring that your business operations are driving your equipment decisions to getting the best deal by negotiating the equipment and the financing...

Document management: one paving stone in the path to HER.(FEATURE STORY)
May 1, 2005... "Despite the computer-based patient record being 'almost here' for 45 years, it has still not arrived. Its advantages are clear: computer-based patient records and other systems give physicians and other authorized personnel the ability to...

Profiting through personality? It's true! Decatur Memorial Hospital is transforming its organizational culture to drive high performance and quality.(FEATURE STORY)
May 1, 2005... Keys to financial success? Let's see-there's staying on top of operating margin, days cash on hand, net days in accounts receivable. And organizational culture?!? At first glance, focusing on culture may not seem like a top priority for...

A strategy for defensible, sustainable prices.(hfma roundtable)(Panel Discussion)
May 1, 2005... About HFMA Roundtables With this article. HFMA continues as series of "virtual" discussions to offer thought leadership and practical perspectives on healthcare financial issues by leading industry professionals. This roundtable offers...

A real-time, reconciled view of capital spending.(hfm TOOLBOX)
May 1, 2005... Healthcare financial executives find themselves faced with an ever-widening gap between the capital needs of their organizations and the capital resources available to meet those needs. Within this gap is the reality that healthcare systems...

Mergers: a critical test of leadership: challenge yourself to excel at leadership during uncertain times.(LEADERSHIP AND MANAGEMENT)
May 1, 2005... Merger factivity increased during 2004, according to the healthcare press (Modem Healthcare, "The Surge to Merge," Jan. 24, 2005, and Health Leaders, "Creeping Consolidation," February 2005). These articles reminded me of the numerous mergers...

EHR? Assess readiness first: there's no denying interest in electronic health records is increasing.(DIGITAL PERSPECTIVES)
May 1, 2005... In Framework for Strategic Action, David Brailer, MD, PhD, the national coordinator for health information technology, described EHRs as "critical to delivering safe, affordable, and consumer oriented health care." Yet achieving the...

A key strategy to revenue growth: the right marketing infrastructure: not all successful revenue strategies are focused externally. Sometimes the strongest strategies are built from within.(NEW REVENUE GROWTH)
May 1, 2005... Rather than examining strategies and programs that build revenue, this month's column looks at marketing organizational structure and resources and how their unique deployment can achieve desired results. As much as we like to scrutinize...

Managing the Healthcare Professional.(Book Review)
May 1, 2005... Charles R. McConnell Jones and Bartlett Publishers 252 pages; $54.95 www.jbpub.com Managing the Healthcare Professional is a guide that goes against current views stressing the need for uniform treatment of personnel. Rather, Charles...

Stevens & Lee.(PEOPLE)(appointment of Nancy C. Bell as senior managing director)(Fellow of Healthcare Financial Management Association)(Brief Article)
May 1, 2005... Nancy C. Bell, FHFMA (Appalachian Chapter of Central Pennsylvania) Ms. Bell has been appointed senior managing director, healthcare finance, Stevens & Lee, Reading, Pa. Previously, she was vice president, healthcare finance, Triad...

CHAN Healthcare Auditors.(PEOPLE)(appointment of Jeff Ladenburger as vice president)(Fellow of Healthcare Financial Management Association)(Brief Article)
May 1, 2005... Jeff Ladenburger, FHFMA, CPA (Southwestern Ohio Chapter) Mr. Ladenburger has been promoted from audit director, Catholic Healthcare Partners, Cincinnati, to vice president, audit, for CHAN Healthcare Auditors, Cincinnati. Mr. Ladenburger is...

Washington Adventist HealthCare.(PEOPLE)(apointment of as James G. Lee as senior vice president)(Fellow of Healthcare Financial Management Association)(Brief Article)
May 1, 2005... James G. Lee, FHFMA, CHE (Maryland Chapter) Mr. Lee has been promoted from CFO, Washington Adventist Hospital, Takoma Park, Md., to senior vice president and CFO, Adventist HealthCare, Rockville, Md.

CRG Solutions, Inc.(PEOPLE)(appointment of Darren Vianueva as president)(chief operating officer)(Brief Article)
May 1, 2005... Mr. Vianueva has been appointed president, COO, CRG Solutions, Inc., Cleveland. Formerly, he was executive director, Trinity Health, Novi, Mich.

CIT Group, Inc.(PEOPLE)(appointment of Flint Besecker as president)(certified public accountants)(Brief Article)
May 1, 2005... Flint Besecker, CPA (Metropolitan New York Chapter) Mr. Besecker has been named president, CIT Healthcare, CIT Group, Inc., New York. Formerly, he was managing director and group head, GE Healthcare Financial Services, Orchard Park, N.Y.

Minnesota Masonic Homes.(PEOPLE)(appointment of Michael Hanson as president and chief executive officer)(Brief Article)
May 1, 2005... Michael Hanson (Minnesota Chapter) Mr. Hanson has been promoted from CFO to president and CEO, Minnesota Masonic Homes, Bloomington, Minn.

Stony Brook University Hospital.(PEOPLE)(appointment of James G. Fouassier as associate administrator )(Justice department)(Brief Article)
May 1, 2005... James G. Fouassier, JD (Metropolitan New York Chapter) Mr. Fouassier has been appointed associate administrator and managed care attorney, Stony Brook University Hospital, State University of New York at Stony Brook, Long Island, N.Y. He...

Mid-Atlantic States, Inc.(PEOPLE)(appointment of Jo Ann L. Ott as senior financial analyst)(Brief Article)
May 1, 2005... Jo Ann L. Ott (Maryland Chapter) Ms. Ott has been named senior financial analyst, Kaiser Foundation Health Plan of the Mid-Atlantic States, Inc., Rockville, Md. Previously, she was senior operations associate, Adventist HealthCare,...

Foley & Lardner, LLP.(PEOPLE)(Justice department )(Brief Article)
May 1, 2005... J. Mark Waxman, JD (Massachusetts Chapter) Mr. Waxman has joined Foley & Lardner, LLP, Boston, as partner. He had been president and general counsel, CareGroup, Inc., Boston.

Ardent Health Services.(PEOPLE)(appointment of Lee Ann Burney as reimbursement manager)(certified public accountants)(Fellow of Healthcare Financial Management Association)(Brief Article)
May 1, 2005... Lee Ann Burney, FHFMA, CPA (Tennessee Chapter) Ms. Burney has joined Ardent Health Services, Nashville, Tenn., as reimbursement manager. She had been manager, Horne LLP, Nashville.

Illinois Hospital Association.(PEOPLE)(appointment of Tanya Hawkins as manager)(Brief Article)
May 1, 2005... Tanya Hawkins (First Illinois Chapter) Ms. Hawkins has been named manager, finance department, Illinois Hospital Association, Naperville, Ill. Previously, she was senior consultant, Ernst & Young, Health Sciences Advisory Services,...

Greene Health Partners.(PEOPLE)(appointment of Timothy Pollard as chief financial officers)(Brief Article)
May 1, 2005... Timothy Pollard (Georgia Chapter) Mr. Pollard has been appointed CFO, Greene Health Partners, Xenia, Ohio. He had been director, clinical consulting practice, 3M HIS, Atlanta.

CampbellWilson.(PEOPLE)(appointment of John L. Thorpe as senior manager)(Brief Article)
May 1, 2005... John L. Thorpe, FHFMA, CPA (Texas Lone Star Chapter) Mr. Thorpe has joined CampbellWilson, Dallas, as senior manager. Formerly he was the interim CFO and director of reimbursement, John Peter Smith Hospital, Ft. Worth, Texas.

Postlethwaite & Netterville.(PEOPLE)(appointment of Cheryl Yennie as audit manager)(Brief Article)
May 1, 2005... Cheryl Yennie (Louisiana Chapter) Ms. Yennie has been named audit manager, Postlethwaite & Netterville, Baton Rouge, La. She had been senior consultant, CNH Consulting, LLC, Baton Rouge.

Diagnostic Division-HealthSouth.(PEOPLE)(appointment of John Hinson as assistant controller)(Brief Article)
May 1, 2005... John Hinson (Alabama Chapter) Mr. Hinson has been appointed assistant controller, Diagnostic Division-HealthSouth, Birmingham, Ala. He had been CFO, South Baldwin Regional Medical Center, Foley, Ala.

Pricewaterhouse Coopers, LLP.(PEOPLE)(appointment of Michael X. Martinez as manager)(Brief Article)
May 1, 2005... Michael X. Martinez (Texas Gulf Coast Chapter) Mr. Martinez has joined Pricewaterhouse Coopers, LLP, Dallas, as manager, healthcare advisory services. Formerly, he was regional director, reimbursement and cost accounting, CHRISTUS Health,...

Ronald J. Kintz: on the importance of lifelong learning.(PEOPLE)
May 1, 2005... The older we get, the more acutely aware we become of the world changing around us. Opportunities and problems seem to emerge and disappear like the opening and closing of automatic doors. Continual change can be either stimulating or stress...

Michael King: HFMA connections bring real solutions.(PEOPLE)(Healthcare Financial Management Association)
May 1, 2005... There are many benefits of membership in HFMA, including access to the educational seminars, the monthly him magazine, and the specialty forums, as well as the multitude of networking opportunities for those looking for additional career...

Capital as percentage of total costs declines while total capital costs increase.(DATA TRENDS)(Brief Article)
May 1, 2005... During the past eight years, U.S. hospitals have been challenged to meet critical obligations with reduced margins. New data through December 2004 suggest that while capital as a percentage of total operating costs continues to trend down ward,...

Calendar.(Calendar)
May 1, 2005... Fall 2005 Seminars Level Seminar Sept. 26-29 Oct. 17-20 Seattle Cambridge, Mass. ...

China's healthcare dilemma: with China on its way to becoming a global business power, its healthcare managers need to ground their entrepreneurial spirit in business basics.(FROM THE PRESIDENT)
May 1, 2005... In March 2005, I had the unique opportunity to participate in two seminars on healthcare financial management in Beijing and Shanghai, China. The purpose of the trip was to determine whether HFMA's basic healthcare financial management training...