Healthcare Financial Management articles from October 2005

Healthcare Financial Management archives from October 2005

Hurricane recovery financial information for providers.(Hurricane Katrina 2005, United States. Department of Health and Human Services, United States. Department of Health and Human Services. Centers for Medicare and Medicaid Services)
October 1, 2005... Under its public health emergency authority, the Department of Health and Human Services has relaxed various regulations to make it easier for providers to respond to the healthcare needs of their communities. The Centers for Medicaid and...

CMS proposes new DSH reporting and auditing requirements.(Centers for Medicare & Medicaid Services)(Disproportionate Share Hospital)(Brief Article)
October 1, 2005... Enhanced CMS oversight is expected to reduce questionable disproportionate share payments by Medicaid programs. On Aug. 26, the agency published a proposed rule in the Federal Register that would implement section 1001(d) of the Medicare...

IRS to review 501(c)(3) bond compliance.(Internal Revenue Service)(Brief Article)
October 1, 2005... The IRS is expected to announce a new initiative to review post-issuance compliance with 501(c)(3) bonds that were issued in 1995 and 1996, according to Wayne Henry, partner with the law firm of Stinson Morrison Hecker LLP. Details are...

Draft Form 990 schedules ask new compensation questions.(POLICY WATCH)(Brief Article)
October 1, 2005... The IRS has released for public comment draft Schedules A and B to Form 990 and Form 990-EZ for 2005 that include new questions about compensation, driven by congressional, IRS, and public concerns about excessive executive compensation among...

... CMS has updated the Medicare Part A skilled nursing facility prospective payment system pricer for the first quarter of FY06, reflecting the updated SNF PPS payment rates, effective for service dates Oct. 1 through Dec. 31.(Brief Article)
October 1, 2005... ... CMS has updated the Medicare Part A skilled nursing facility prospective payment system pricer for the first quarter of FY06, reflecting the updated SNF PPS payment rates, effective for service dates Oct. 1 through Dec. 31. According to the...

... CMS has published the October update to the 2005 Medicare physician fee schedule database.(Centers for Medicare and Medicaid Services)(Brief Article)
October 1, 2005... ... CMS has published the October update to the 2005 Medicare physician fee schedule database. Contractors will give providers 30 days' notice before implementing the payment changes. Contractors should not search their files to retract...

Market basket adjustment provides offset to wage index downward pressure on hospice payments.(POLICY WATCH)
October 1, 2005... Hospices will receive a 3.7 percent increase in FY06 Medicare payment rates, according to a payment update transmittal issued Aug. 19 by CMS. This increase, CMS reported, is the total market basket percentage increase. The payment update,...

CMS proposes limits on prior determination services.(Centers for Medicare and Medicaid Services)(Brief Article)
October 1, 2005... CMS has published a proposed rule that would limit physician services for which prior coverage determination may be requested. Under the rule, CMS would establish an initial pool of 50 eligible physicians' services with the highest allowed...

CMS to reject non-HIPAA-compliant claims.(Health Insurance Portability and Accountability Act of 1996, Centers for Medicare and Medicaid Services)(Brief Article)
October 1, 2005... Starting Oct. 1, CMS will no longer process electronic Medicare claims for payment unless they comply with the Health Insurance Portability and Accountability Act of 1996. CMS said that noncompliant claims will be sent back to the filer for...

IRS relaxes deadlines for benefit plans and Form 990.(POLICY WATCH)(Public Notice)
October 1, 2005... The IRS, the Employee Benefits Security Administration, and the Pension Benefit Guaranty Corporation have announced they are relaxing deadlines in connection with certain employee benefit plans because of damage in the Gulf Coast area caused by...

Legislative activity focuses on nursing home quality and safety.(patient safety)
October 1, 2005... Recent news reports have highlighted long-term care facilities with poor records, prompting both state and federal lawmakers to become more concerned about patient safety in these facilities. As the baby boom generation ages, nursing homes...

The business of caring when tragedy strikes: we work in an industry that deals with sickness and tragedy every day.(FROM THE CHAIRMAN)
October 1, 2005... As Chairman of HFMA, I receive newsletters and meeting notifications from many chapters every month. Wanda Marrero, president of the Puerto Rico Chapter, writes in her chapter's latest newsletter about what the business of caring means to her....

The "real" world: "some of our CFOs have to mow the lawns.".(Chief financial officers)(Editorial)
October 1, 2005... This comment reminds me of the gulf between the ideal and the real. I had asked the senior VP of a large multihospital system about the responsibilities of the individual hospital CFOs. Many of the system hospitals are small and rural, and the...

Uninsured total up, even as government rolls grow.(INDUSTRY WATCH)(Brief Article)
October 1, 2005... The number of uninsured Americans rose to 45.8 million in 2004 from 45 million in 2003, while the percentage held at 15.7 percent, according to U.S. Census Bureau data. Employment-based health insurance continued a decline that started at the...

AHIMA releases guidelines for defining the legal health record.(American Health Information Management Association)(Brief Article)
October 1, 2005... Regardless of a health record's format--paper, hybrid, or fully electronic--healthcare organizations must ensure that it meets the requirements of a legal health record, according to the American Health Information Management Association. In...

Safety net responsibilities could spread, says study.(public hospitals at a higher rate than for-profit hospitals)(Brief Article)
October 1, 2005... Public hospitals are closing at a higher rate than those in the for-profit and not-for-profit ownership categories, according to a study of American Hospital Association data. The report, prepared by SUNY Downstate Medical Center, found that...

Aetna to post negotiated physician fees.(prices for medical visits)(Brief Article)
October 1, 2005... Some healthcare consumers will soon be able to compare prices for medical visits before going to the doctor. Aetna, a national health insurer, has launched an online pilot program that posts the exact prices it has negotiated with...

Long-term care support program grants released.(Aging and Disability Resource Center)(Brief Article)
October 1, 2005... New grants totaling $15 million were released to help 19 states create centers that provide a centralized source of information and assistance for individuals and families seeking long-term care services available in their communities,...

CBO predicts strong U.S. economic outlook.(Congressional Budget Office)(Brief Article)
October 1, 2005... The U.S. economy will continue to expand at a healthy pace during the second half of 2005 and in 2006, the Congressional Budget Office predicts in its latest economic outlook. According to CBO's projections, inflation (as measured by the...

Many medical groups operate at a loss.(physician compensation)(Brief Article)
October 1, 2005... The rate of increase in physician compensation for most specialties barely surpassed the rate of inflation in 2004, according to the American Medical Group Association's 2005 Medical Group Compensation & Financial Survey. The survey also found...

Indications of growing healthcare cost and access problems.(health care industry)(Brief Article)
October 1, 2005... The Center for Studying Health System Change has found growing potential for cost increases and access-to-care problems. During site visits January through June in Boston; Cleveland; Greenville, S.C.; Indianapolis; Lansing, Mich.; Little Rock,...

NQF endorses standards for ambulatory care.(National Quality Forum)(Brief Article)
October 1, 2005... The National Quality Forum has endorsed 36 physician care performance measures, called the National Voluntary Consensus Standards for Ambulatory Care. The standards are the result of consensus of more than 200 healthcare providers, consumer...

Study: EHRs may benefit small practices financially, but only modest gains in quality seen.(Electronic Health Record)(Brief Article)
October 1, 2005... Physicians in solo or small group practices stand to benefit financially from purchasing and implementing electronic health record systems, but they also should be aware of the financial risks, according to a study published in the...

Quotes of note.(healthcare)(Brief Article)
October 1, 2005... "Why do we want to put our vulnerable members in a position to have a 30-second ad running a year from now saying you gave your fat-cat friends a tax cut and cut Medicare for your grandmother?" --Rep. Ray LaHood (R-Ill.), on the problem...

"All that we have and all that we give": a CFO's story.(WHAT IT TAKES: HEALTH CARE RESPONDS TO HURRICANE KATRINA)(Chief Financial Officer)
October 1, 2005... This year's HFMA chairman's theme, The Business of Caring, strikes an even deeper chord in light of the devastation caused by Hurricane Katrina and its aftermath. HFMA applauds the courage, skill, and caring of healthcare professionals...

HFMA helps develop new leadership competency tool.
October 1, 2005... A new interactive tool has been created to ensure that future healthcare leaders have the training and expertise they need to manage the nation's healthcare organizations. Called the HLA Competency Directory, the tool was developed by the...

Clarke makes 100 most powerful list.(Richard L. Clarke)
October 1, 2005... HFMA President and CEO Richard L. Clarke, DHA, FHFMA, was named one of the 100 most powerful in health care in the Aug. 22 issue of Modern Healthcare magazine. The list was compiled from readers' votes on people considered to have the greatest...

Consumer-directed health plans a new force in health insurance? Consumer-directed health plans-high-deductible health insurance plans combined with tax-advantaged savings accounts that can be used to cover unreimbursed healthcare expenditures--have generated both a lot of attention and a lot of controversy.(EYE ON WASHINGTON)
October 1, 2005... For some, these plans represent the most significant promise for moderating healthcare spending to have emerged over the past several decades. For others, they represent a major threat to risk-pooling and to the social solidarity that underlies...

Transaction services: beyond basics to bolt-ons.(health care industry)(Interview)
October 1, 2005... About HFMA Roundtables This HFMA Roundtable is an edited version of a discussion sponsored by Cerner that took Place at HFMA's 2005 Annual National Institute (ANI), held in Las Vegas. In what follows. prominent industry professionals...

Possibilities and pitfalls of outsourcing.(BUSINESS)
October 1, 2005... Outsourcing has become a $4 trillion-a-year business, according to Dun and Bradstreet. Outsourcing potentially enables businesses to reduce costs and concentrate on core competencies while transferring noncore business processes, thereby...

Time for patient payment strategies.(hospital's revenue)
October 1, 2005... Healthcare providers, even as they struggle to implement new strategies for delivering clinical services, face profound changes in who will pay for those services. In today's healthcare environment, payments due from patients account for about...

Time for a price check? Market trends are leading some acute care hospitals to examine their managed care payments and adopt a protective strategy: price shifting.(Cover Story)
October 1, 2005... General acute care hospitals' revenues are under attack as inpatient and outpatient niche providers continue to sap profitable business. Although the Centers for Medicare and Medicaid Services has issued a temporary moratorium on licensing new...

Cost-based pricing and the underperforming physician group: perhaps healthcare organizations should spend as much time and effort improving the revenue performance of their employed physician groups as they do on operational and overhead improvements.(FEATURE STORY)
October 1, 2005... During the 1990s, many hospitals and healthcare systems built primary care physician groups of significant size. Unfortunately, a large percentage of these same organizations have driven headfirst into the economic reality of owning medical...

Assessing the feasibility of developing centers of excellence: six initial steps: is a center of excellence in your organization's future? Some important considerations can help you lay the groundwork for making this critical decision.(FEATURE STORY)
October 1, 2005... The hospital love affair with service line management has run hot and cold during the past 20 years. Hospitals began to consider product/service line management approaches in the late 1980s as CEOs toyed with alterative organizational...

Asset management the big picture: the key to getting the most out of your capital equipment assets is to develop a plan that effectively addresses each point along the asset management continuum.(healthcare organizations management)
October 1, 2005... Do the following scenarios sound familiar to you? Scenario 1: A few months previously, your organization replaced a major piece of equipment, but the plans to finalize the deployment of the device never were finalized. As a result, the...

Benchmarking supply expenses the devil's in the definition: why hasn't the healthcare industry been able to fix the disconnect between the supply chain and the revenue cycle? Maybe a generally accepted definition of "supply expense" would be a start.
October 1, 2005... Benchmarking is a popular business tool. Organizations want to know how they compare with similar businesses in a variety of important areas. One increasingly important area for healthcare financial executives is supply expense--that is,...

Making hospital-physician collaboration work: working smarter, not harder, can help hospitals and physicians work cooperatively.
October 1, 2005... Independent or interdependent? Reflexive or reflective? Reactive or proactive? How you work with your hospital's physicians has a direct bearing on your hospital's bottom line and on your career progression. Hospitals and physicians care...

Innovative analytics optimise self-pay receivables.(Brief Article)
October 1, 2005... innovative analytics optimise self-pay receivables Integrating consumer credit data into accounts receivable analysis is an effective way to both optimize and project the net collectible value of self-pay patient accounts....

Innovative analytics optimize self-pay receivables.(Brief Article)(Illustration)
October 1, 2005... innovative analytics optimize self-pay receivables A/R Outstanding A/R Demographic Errors $14,170,708 31.2% Address $8,119,816 57.3% Name ...

Improving cash flow with better charge capture and denial management: this project is a collaboration effort by MedAssets and the Healthcare Financial Management Association.(mismanagement)
October 1, 2005... It might seem impossible that a patient would undergo hip-replacement surgery without anesthesia, but it's been known to happen. Likewise, there have been cases of surgery to implant a pacemaker without the actual pacemaker. Or at least that's...

Reducing leader variance: consistency and standardization in operations can help your organization excel.(LEADERSHIP AND MANAGEMENT)
October 1, 2005... Have you ever been frustrated because you see more measurement metrics and tighter accountability in finance than in other areas of your organization? Have you ever thought that health care would be better if everyone ran their departments more...

How do we engage the medical staff in IT? Organizations increasingly are faced with the need to make significant investments in clinical information systems such as computerized provider order entry and electronic health records.(information technology)
October 1, 2005... These investments often are seen as essential contributors to improving patient safety, operational efficiency, and the cost-effectiveness of patient care. However, these investments are expensive and difficult to implement. In addition,...

When should you consider acquisition? Although the business landscape is littered with healthcare and nonhealthcare acquisition disasters, there are also many successes. Consider three healthcare organizations that took the risk--and flourished.(NEW REVENUE GROWTH)
October 1, 2005... Catholic Health East. A large faith-based system with locations in 11 eastern states from Maine to Florida, CHE acquired five Philadelphia-area hospitals from another major Catholic system, Catholic Health Initiatives, in 2001. The resulting...

HFMA's 2005 fall seminar series.(2004-2005 ANNUAL REPORT)
October 1, 2005... Three Great Locations Cambridge, MA: October 17-20 Phoenix, AZ: November 14-17 Chicago, IL: December 5-8 Win a Free Seminar Experience Register for an HFMA seminar and reserve your space at HFMA's preferred hotel at least six...

James M. Gavin, CPA (Northeastern New York Chapter).(St. Peter's Health Care Services appointed certified public accountant)(Brief Article)
October 1, 2005... Mr. Gavin has been appointed treasurer and CFO, St. Peter's Health Care Services, Albany, N.Y. He had been vice president and CFO, Saratoga Care, Saratoga, N.Y.

Cameron Graham (Georgia Chapter).(QuadraMed Corp.)(Brief Article)
October 1, 2005... Mr. Graham has joined The Advisory Board Company, Washington, D.C., as director. He had been senior financial product consultant, QuadraMed Corporation, Reston, Va.

William G. Kistner (First Illinois Chapter).(Northwestern Memorial Hospital's Damen Award)(Brief Article)
October 1, 2005... Mr. Kistner, tax director, Northwestern Memorial Hospital, Chicago, was recognized by Loyola University, Chicago, with the Damen Award for his leadership in industry and for his dedicated service to others in the community.

Linda N. Ollis, FACHE (Nebraska Chapter).(Creighton University Medical Center appointed Fellow of the American College of Healthcare Executive, Linda N. Ollis)(Brief Article)
October 1, 2005... Ms. Ollis has been appointed COO, Creighton University Medical Center, Omaha, Nob. Formerly, she was COO, Crouse Hospital, Syracuse, N.Y.

Dereesa Purtell, CPA, (Lone Star Chapter).(Covenant Neuroscience Institute appointed certified public accountant)(Brief Article)
October 1, 2005... Ms. Purtell has been named assistant vice president, Covenant Neuroscience Institute, Lubbock, Texas. She had been vice president, managed care and strategic planning, University Medical Center, Lubbock.

Benjamin Seib (First Illinois Chapter).(Cancer Treatment Centers of America)(Brief Article)
October 1, 2005... Mr. Seib has been promoted from reimbursement coordinator to manager of reimbursement, Cancer Treatment Centers of America, Schaumburg, Ill.

Kraig Vondran (Indiana Pressler Memorial Chapter).(promotion at Managed Outsource Technologies)(Brief Article)
October 1, 2005... Mr. Vondran has been promoted from CFO to CEO/CFO, Managed Outsource Technologies, Indianapolis. He has also been selected to serve on the board of directors for the Indiana Pressler Memorial Chapter.

Jeanene Whittaker (Kentucky Chapter).(promotion at Bottom Line Systems Inc.)(Brief Article)
October 1, 2005... Ms. Whittaker has been promoted from regional manager to vice president of marketing, Bottom Line Systems, Inc., Crescent Springs, Ky.

Cindy K. Bartlett (McMahon-Illini Chapter).(appointment at Memorial Health Systems Inc.)(Brief Article)
October 1, 2005... Ms. Bartlett has joined Memorial Health Systems, Springfield, Ill., as vice president, compliance and audit, compliance and privacy officer. Previously, she was compliance officer, St. Joseph's Candler Health System, Savannah, Ga.

Keith Cantrell (Lone Star Chapter).(appointment at Wellspring Partners)(Brief Article)
October 1, 2005... Mr. Cantrell has been appointed vice president, Wellspring Partners, Ltd., Dallas. Previously, he was senior manager, KPMG, LLP, Dallas.

Julia Gilbert (Maine Chapter).(appointment at Maine Medical Center)(Brief Article)
October 1, 2005... Ms. Gilbert has joined Maine Medical Center, Portland, Maine, as cost accountant/analyst. Formerly, she was business manager, Holyoke Pediatric Associates, LLP, Holyoke, Mass.

Martin Glick, CPA (Metropolitan New York Chapter).(promotion at North Shore-LongIslnd Jewish Health System)(Brief Article)
October 1, 2005... Mr. Glick has been promoted from director, supply chain management, to assistant vice president, procurement analytics, North Shore- Long Island Jewish Health System, Great Neck, N.Y.

Sarah Holt (Florida Chapter).(appointment at UnitedHealth Group Inc.)(Brief Article)
October 1, 2005... Ms. Holt has been named finance manager, United Healthcare, Minneapolis. She had been manager, cost accounting, Martin Memorial Health Systems, Stuart, Fla.

Nancy Huyten (Mississippi Chapter).(appointment at River Region Medical Center)(Brief Article)
October 1, 2005... Ms. Huyten has joined River Region Medical Center, Vicksburg, Miss., as business office director. Formerly, she was business office director, BroMenn Healthcare, Normal, Ill.

Amy King (Maryland Chapter).(appointment at Lehigh Valley Hospital and Health Network)(Brief Article)
October 1, 2005... Ms. King has joined Lehigh Valley Hospital, Allentown, Pa., as practice manager. Previously, she was reimbursement analyst, financial planning and compliance Frederick Memorial Hospital, Frederick, Md.

Joseph (Buck) Lewis (Florida Chapter).(appointment at East Georgia Regional Medical Center)(Brief Article)
October 1, 2005... Mr. Lewis has been appointed controller, East Georgia Regional Medical Center, Statesboro, Ca. He had been controller, Seven Rivers Regional Medical Center, Crystal River, Fla.

Candaae Peterson, CPA (Minnesota Chapter).(Eide Bailly L.L.P. appointed certified public accountant )(Brief Article)
October 1, 2005... Ms. Peterson has been named manager, Eide Bailly, LLP, Minneapolis. She had been lead financial analyst, Medica, Minnetonka, Minn.

Jon Riggs (Colorado Chapter).(Swedish Medical Center)(Brief Article)
October 1, 2005... Mr. Riggs has been appointed associate controller, Swedish Medical Center, Littleton, Colo. Formerly, he was staff accountant, Redmond Regional Medical Center, Rome, Ga.

Stephanie Salmon (Rochester Regional Chapter).(Unity Health System)(Brief Article)
October 1, 2005... Ms. Salmon has joined Unity Health System, Rochester, N.Y., as payer contract manager. Previously, she was contract representative, Preferred Care, Rochester.

Leonard Well (Metropolitan New York Chapter).(Catholic Health Care System)(Brief Article)
October 1, 2005... Mr. Weil has been named senior vice president, CFO, Catholic Health Care System, New York. He had been CFO, Gurwin Jewish Geriatric Center, Commack, N.Y.

John Travis: HFMA nurtures my career interests.(Healthcare Financial Management Association)
October 1, 2005... I have been a member of HFMA's Heart of America Chapter since 1989 and have been a certified member since 2001. I currently serve on the chapter's board and am the chapter's treasurer. My involvement in HFMA has spurred two main interests that...

Calendar.(Calendar)
October 1, 2005... CALENDAR Fall 2005 Seminars Level Seminar Oct. 17-20 Nov. 14-17 Dec. 5-8 Cambridge, Phoenix Chicago Mass. Financial Management I/A...

Omission of procedure codes has significant impact on Medicare payment.(DATA TRENDS)
October 1, 2005... According to the most recent five years of Medicare Provider Analysis and Review data, between 45 percent and 46 percent of all inpatient hospital admissions are being processed without a primary ICD-9 procedure code. This code is a critical...

Health savings accounts: the good, the bad, and the unknown: consumer-directed health care received a significant boost when Congress passed and the president signed the Medicare Modernization Act in 2004.(health savings accounts)
October 1, 2005... Best known for the Medicare prescription drug benefit, the legislation also established favorable tax treatment for health savings accounts. These accounts, coupled with high-deductible insurance plans, provide the mechanism for more actively...