Healthcare Financial Management articles from September 2005

Healthcare Financial Management archives from September 2005

HHS required to recalculate DSH payments to hospitals.(Health and Human Services)(disproportionate share payments )
September 1, 2005... The U.S. Court of Appeals for the District of Columbia Circuit has affirmed the District Court's decision requiring the Secretary of Health and Human Services to recalculate disproportionate share payments to hospitals. The court had...

Bush signs patient safety bill.(POLICY WATCH)
September 1, 2005... The Patient Safety and Quality Improvement Act of 2005 (S. 544), which will create a voluntary, confidential system for reporting medical errors, cleared Congress July 27. The White House has expressed strong support for the bill. The...

Senate bill includes grants, loans for healthcare IT.(POLICY WATCH)
September 1, 2005... A new bipartisan proposal for provider grants and loans for healthcare IT and to establish standards to support an interoperable health IT system was quickly approved by the Senate Health Education, Labor, and Pensions Committee July 20. ...

The Financial Accounting Standards Board published an exposure draft July 14 of a proposed interpretation, Accounting for Uncertain Tax Positions.
September 1, 2005... ... The Financial Accounting Standards Board published an exposure draft July 14 of a proposed interpretation, Accounting for Uncertain Tax Positions. FASB says it is seeking to reduce the diversity in practice associated with recognition and...

Beginning Jan. 1, 2006, intermediaries will edit Part B claims that meet or exceed a reimbursement of $50,000.(Brief Article)
September 1, 2005... ... Beginning Jan. 1, 2006, intermediaries will edit Part B claims that meet or exceed a reimbursement of $50,000. The edit is the result of a recommendation by the Office of Inspector General included in a report that states simple clerical...

Final 2006 nursing home PPS update released.(Prospective payment systems)(Brief Article)
September 1, 2005... Under the final rule published Aug. 4, FY06 Medicare skilled nursing facility payment rates will include a market basket update increase of 3.1 percent, slightly more than the 3.0 percent estimate predicted in the proposed rule. However, total...

CMS has published FY06 final allotments available to states to initiate and expand health insurance coverage to uninsured.(Centers for Medicare & Medicaid Services)(financial year)(Brief Article)
September 1, 2005... ... CMS has published FY06 final allotments available to states to initiate and expand health insurance coverage to uninsured, low-income children under their State Children's Health Insurance Programs.

The International Accounting Standards Board and the Financial Accounting Standards Board each published an exposure draft containing joint proposals to improve and align the accounting for business combinations.(Brief Article)
September 1, 2005... ... The International Accounting Standards Board and the Financial Accounting Standards Board each published an exposure draft containing joint proposals to improve and align the accounting for business combinations. The objective of the...

Transfer provisions expanded in final FY06 inpatient PPS rule.(financial year)(Prospective payment systems )(Brief Article)
September 1, 2005... The Medicare hospital inpatient prospective payment system final rule for services in FY06, posted by CMS on Aug. 1, retains much of the controversial proposed expansion of the post acute care transfer policy, but stops at 182 diagnosis-related...

CMS: 2006 IRF PPS rule "improves distribution of payments".(Centers for Medicare & Medicaid Services )(Inpatient Rehabilitation Facility)(Prospective Payment System)(Brief Article)
September 1, 2005... Under the final rule updating the inpatient rehabilitation facility PPS for 2006, Medicare will spend approximately $210 million more on IRFs in FY06 than in FY05; however, most of the changes are budget neutral and redistribute payments...

States face funding challenge for MHSA treatment coverage.(STATE POLICY WATCH)
September 1, 2005... What are states doing to ensure that funding continues to be available to cover mental health and substance abuse services? A few have taken action, but for many, the answer is, "Wait and see." The Substance Abuse and Mental Health...

Healthcare financial management across the pond: the U.K.'s single-payer system greatly simplifies billing and collections.(FROM THE CHAIRMAN)
September 1, 2005... This past July, I had the privilege to participate in the 25th annual HFMA U.S./U.K. Exchange held in St. Andrews, Scotland. This was my first opportunity to travel to the United Kingdom and experience the diversity in people, customs, culture,...

The why, what, and how of hfm magazine: in a few minutes, I'm off to a meeting to draft hfm magazine's editorial calendar for next year.(FROM THE EDITOR)
September 1, 2005... Preparing for this meeting is always an occasion to reflect on why we publish the magazine, what we publish in the magazine, and how the magazine is created. Why. Like HFMA, hfm magazine exists to help members and others improve the...

CMS, VA to provide EHR software to physicians.(INDUSTRY WATCH)
September 1, 2005... Physicians who practice solo or in small medical practices will soon be able to access free downloadable electronic health records software through the Centers for Medicare and Medicaid Services. As announced July 21, CMS will make the program...

Credit benchmarks rise for not-for-profits.(INDUSTRY WATCH)(Brief Article)
September 1, 2005... The bar continues to be raised for not-for-profit healthcare facilities seeking funding, as the medians of key financial indicators improved, Standard & Poor's reports. Among the acute care stand-alone facilities' 2005 medians showing...

Mail-order drugs could save Medicare billions: study.(INDUSTRY WATCH)
September 1, 2005... With savings of an additional 10 percent compared with retail pharmacies, the mail-service pharmacy option has the potential to save Medicare as much as $86 billion on prescription drug costs over the next decade, according to a study by the...

$156 billion capital investment needed for a national health information network, expert panel says.(INDUSTRY WATCH)(Panel Discussion)
September 1, 2005... Achieving a desirable, workable national health information network will cost $156 billion in capital investment over five years and $48 billion in annual operating costs, according to a new Commonwealth Fund-supported study published in the...

Wellpoint announces $198 million settlement.(Brief Article)
September 1, 2005... Wellpoint, the nation's largest health insurer, with more than 28.5 million members, announced on July 11 a $198 million settlement with more than 700,000 physicians and state and local medical societies. The agreement settles the national...

AHIMA defines personal health record.(American Health Information Management Association)(Brief Article)
September 1, 2005... The American Health Information Management Association released its standard definition of a personal health record, including attributes and minimum common data elements, July 25. Defined as an electronic, universally available, lifelong...

Quotes of note.(health care planning)(Brief Article)
September 1, 2005... "We have created a market for plans to compete in providing the best deal for seniors. Now it is our responsibility to make sure seniors get the information they need to take advantage of these plans." --CMS Secretary Mike Leavitt,...

Humana and Wal-Mart to offer new prescription drug plan.(Brief Article)
September 1, 2005... Humana Inc. and Wal-Mart Stores, Inc., announced on July 13 that they are joining forces to provide Medicare beneficiaries a Medicare Part D prescription drug plan. The program also oilers information to help seniors navigate the new Medicare...

2004-05 hfm Award winners announced.(Healthcare Financial Management Association)
September 1, 2005... Each year, hfm recognizes authors who have demonstrated outstanding editorial achievement with the Helen Yerger/L. Vann Seawell Best Article Award. Winners are selected by a panel of five leaders in the healthcare industry and are judged based...

U.S./U.K. exchange celebrates 25th anniversary.(Brief Article)
September 1, 2005... HFMA celebrated 25 years of connecting health care financial management professionals from the United States and United Kingdom during this year's U.S./U.K. Exchange, which took place July 27-29 in St. Andrews, Scotland. HFMA's annual...

HFMA educates policy-makers.(Healthcare Financial Management Association )
September 1, 2005... HFMA has a long-standing commitment to educating key industry decision makers on the intricacies and realities of maintaining fiscally healthy healthcare organizations. Just this summer. HFMA's technical directors and volunteers met with...

Resource Center offers highlights on outpatient PPS.(HFMA NEWS)(Proposed Rule Highlights)(Brief Article)
September 1, 2005... HFMA's Resource Center recently released 2006 Hospital Outpatient PPS Proposed Rule Highlights, a document that provides insight on some of the key changes for outpatient services payment discussed under a proposed rule published in the July 25...

No good deed goes unpunished: hospitals that are providing the highest quality care are often finding that their reward is lower payment from Medicare. At last, there's hope that something will be done about this situation.(EYE ON WASHINGTON)
September 1, 2005... Medicare administrators are finding themselves more and more cornered by critics these days and not just over the usual subjects of the pro gram's pending bankruptcy and its apparent lack of preparedness for the start of the new prescription...

"Questionable" guidance.(MEDICARE/MEDICAID)
September 1, 2005... "Curiouser and curiouser!" Alice in Wonderland may have forgotten how to "speak good English," but she aptly describes the Centers for Medicare and Medicaid Services' policies concerning medical education payments for residents' training in...

Recovery audit contractors "RAC" up another challenge for providers.(MEDICARE/MEDICAID)
September 1, 2005... A new Medicare demonstration project is under way in three states in which recovery audit contractors are reviewing old Medicare claims to discover overpayments and demand their repayment from providers. The RACs, which will review claims over...

(Re)opening lines.(MANAGED CARE)
September 1, 2005... Newly approved medical device technologies present both opportunities and challenges for hospital administrators. Determining which technologies to pursue requires an analysis of benefits versus costs, and these analyses can be difficult. ...

A fresh start for the revenue cycle: the beginning of the revenue cycle is getting a fresh start as healthcare financial managers apply technology and process improvement to patient access.(Cover Story)
September 1, 2005... Healthcare financial managers are in the business of caring. They must manage the business side of healthcare to help their organizations fulfill their caring mission. One vivid intersection of business and caring is the patient's initial...

The strategic benefits of revenue cycle improvement: what distinguishes high-performing healthcare organizations is an ability to learn from their experiences, and to apply those lessons in positioning themselves strategically.(FEATURE STORY)
September 1, 2005... Capturing financial performance gains and new knowledge acquired through performance improvement are key capabilities of high-performing organizations. What further distinguishes these organizations is what they do with what they have gained...

Six steps to an effective denials management program: yes, it used to be just a nuisance. But denials management has become a high priority for savvy healthcare CFOs.(Chief financial officers)
September 1, 2005... Denials management has become one of the most hotly debated and pervasive topics in health care. In the past, it was more of a nuisance issue for CFOs. Today, denials management aggressively competes among CFOs' highest priorities and is also...

An automatic response: looking to improve your revenue cycle? For UNC Hospitals, technology was key.(University of North Carolina Hospitals)
September 1, 2005... It's a common frustration. You pay a bill, only to find that a few days later there's another notice regarding the fee in your mailbox or a message on your answering machine. For patients, such missed communications can be a minor...

Going backward into the future: the struggle for equality in medical treatment continues into the 21st century. How can we end it?
September 1, 2005... July 30, 2005, marked the 40th anniversary of the Medicare and Medicaid legislation. In addition to greatly expanding the financing of care for the elderly and indigent, that legislation forced the end to blatant forms of racial segregation and...

Master your chargemaster: is your hospital's chargemaster friend or foe? It's a vital element in the revenue cycle, but it can present challenges.(FEATURE STORY)
September 1, 2005... Are your hospital's claims clean? Complete? Accurate? Do your itemized statements provide the appropriate details to support the claim? If not, you may not be receiving proper payment for services provided. The chargemaster is an integral...

10 practical tips for successful outsourcing: horror stories about vendors keep many hospitals from capitalizing on the benefits of outsourcing--unnecessarily. Knowing how to prepare for contract negotiations can help you optimize those relationships.(FEATURE STORY)
September 1, 2005... Ten years ago, if you had suggested that you could improve the efficiency of a hospital department, ensure it has state-of-the-art equipment and infrastructure, increase the skill of its employees, and guarantee the satisfaction of its...

Pursuing supply chain gains: how effective is your organization's supply chain performance? If your hospital is like others, it's likely there's room for improvement.(FEATURE STORY)
September 1, 2005... A word of advice for hospital CFOs: If you think you have exhausted every possible way to reduce your organization's costs and improve its efficiencies, perhaps it's time to take a close look at the supply chain. The opportunities for savings...

Big plans: are you satisfied with your organization's method for capital planning? Here's an approach that has worked well for one health system.(FEATURE STORY)
September 1, 2005... Nobody ever said capital planning is easy. The range of financial and economic factors to be considered when planning for an uncertain future, and the variation that occurs within these factors, can make healthcare leaders feel overwhelmed....

Collection reform: build stronger relationships with self-pay patients: looking to avoid bad debt, complaints, and bad publicity due to poor handling of self-pay accounts? Let better training and technology help you identify and serve patients eligible for financial assistance before their accounts can become delinquent.(FEATURE STORY)
September 1, 2005... Does the following scenario sound familiar? After a devastating auto accident, an uninsured father of three spends several months recovering at your hospital. Somewhere between the balloons and best wishes accompanying him as he finally walks...

Charting a revenue cycle roadmap.(hfma roundtable)(Panel Discussion)
September 1, 2005... Nearly every hospital and health system is interested in improving its revenue cycle. But where is the best place to start? Who should do what? How should priorities be established? The challenge is intensified by the broad range of departments...

Tracking your claims denials.(TOOLBOX)
September 1, 2005... In early 2001, the patient financial services department of The Memorial Hospital in North Conway, N.H., recognized both an increase in registration errors and a developing trend of increased claims denials. These denials resulted in...

Leadership as a learning laboratory: do you routinely document return (ROI) and value (VOI) on your hospital's strategic or capital investments?(LEADERSHIP AND MANAGEMENT)
September 1, 2005... Mathematical formula aside, organizations need to determine and document actual results, with the ROI (quantitative) referring to the financial return of the investment, and the VOI (qualitative) referring to the clinical or patient care...

You've paid--now will your EHR perform? Are electronic health records ready for pay for performance?(DIGITAL PERSPECTIVES)
September 1, 2005... This question may seem strange when EHRs are touted to do just that. Yet it's important to note this consideration during your selection process. As responses to the following three questions show, most EHRs are designed to support patient care...

Bankruptcy's upside: bankruptcy is a strategy. And like most strategies, its success depends on the execution.
September 1, 2005... On the surface, success in emerging from bankruptcy is all about cutting costs. Or is there more to the equation? How do you continually cut costs and retain customer loyalty? Take airlines, for example. How they are executing their...

Long-term investing and your bond rating: when you take a good look at your healthcare organization's financial condition, do you use a telescope or a microscope?(CAPITAL FINANCE)
September 1, 2005... A microscope gives you a close up view--so close, in fact, that you risk missing the larger picture. A telescope, on the other hand, is for long range vision--setting direction, staying on course, and observing the larger world. The point?...

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

Lake Forest Hospital.(appointed Sean Borden as vice president)(Brief Article)
September 1, 2005... Sean Borden (North Carolina Chapter) Mr. Borden has been appointed vice president, CFO, Lake Forest Hospital, Lake Forest, Ill. Formerly, he was corporate controller, Moses Cone Health System, Greensboro, N.C.

Vinson & Elkins, LLP.(American Health Lawyers Association appointed Dennis M. Barry to the board of directors )(Brief Article)
September 1, 2005... Dennis M. Barry, JD (Washington Metropolitan Chapter) Mr. Barry, partner, Vinson & Elkins, LLP, Washington, D.C., has been elected to the board of directors for the American Health Lawyers Association.

The Gallup Organization.(appointed John P. Bisaha)(Brief Article)
September 1, 2005... John P. Bisaha (Show-Me of Missouri Chapter) Mr. Bisaha has joined The Gallup Organization, Chicago, as partner. He had been administrator. Jefferson City Medical Group, Jefferson City, Mo.

Houston Town & Country Hospital.(appointed Teresa Donna as vice president )(Brief Article)
September 1, 2005... Teresa Donna (Texas Gulf Coast Chapter) Ms. Donna has been named vice president and CEO, Houston Town & Country Hospital, Houston. She had been CEO, St. Luke's Community Medical Center, The Woodlands, Texas.

Salina Regional Health Center.(promoted Cheryl Mason to vice president )(Brief Article)
September 1, 2005... Cheryl Mason, FHFMA, CPA (Sunflower-Kansas Chapter) Ms. Mason has been promoted from director of reimbursement to vice president of finance. CFO. Salina Regional Health Center, Salina, Kan.

Houston Town & Country Hospital.(appointed Kimberly D. Walsh as assistant vice president)(Brief Article)
September 1, 2005... Kimberly D. Walsh (Texas Gulf Coast Chapter) Ms. Walsh has been named assistant vice president, operations, Houston Town & Country Hospital. She had been director, sales and marketing, St. Luke's Episcopal Health System, Houston.

Alvarez & Marsal.(appointed Derek A. Pierce as director)(Brief Article)
September 1, 2005... Derek A. Pierce (Tennessee Chapter) Mr. Pierce has joined Alvarez & Marsal, as director. He will be based in Birmingham, Ala., and New York. Previously, Mr. Pierce was manager, Arthur Andersen, Nashville, Tenn.

Oregon Health & Science University.(promoted Diana L. Gernhart to director of finance )(Brief Article)
September 1, 2005... Diana L. Gernhart (Oregon Chapter) Ms. Gernhart has been promoted from director of finance to associate hospital director of finance, Oregon Health & Science University, Portland, Ore.

Diagnostic Clinic.(Diagnostic Clinic Medical Group P.A. appointed Kelly E. Gregg as chief financial officer)(Brief Article)
September 1, 2005... Kelly E. Gregg, FHFMA (Florida Chapter) Mr. Gregg has been named CFO, Diagnostic Clinic, Largo, Fla. Previously, he was administrator, Carolina Regional Orthopaedics, Rocky. Mount, N.C.

Capstone Government Solutions.(appointed Becky M. Lovelace as chief compliance officer)(Brief Article)
September 1, 2005... Becky M. Lovelace, CHFP (Tennessee Chapter) Ms. Lovelace has joined Capstone Government Solutions, Nashville, Tenn., as chief compliance officer. She had been compliance director, Baptist Hospital, Nashville, Tenn.

1st-Nationwide Resources. Inc.(appointed Peter V. Schuster as senior vice president)(Brief Article)
September 1, 2005... Peter V. Schuster (Northern California Chapter) Mr. Schuster has been appointed senior vice president, 1st-Nationwide Resources. Inc., Thousand Oaks, Calif. He had been senior vice president, IBMC, New York.

CTech, L.L.C.(appointed Stephanie Wallace as vice president)(Brief Article)
September 1, 2005... Stephanie Wallace (Western Pennsylvania Chapter) Ms. Wallace has joined CTech, L.L.C., North Huntingdon, Pa., as vice president, sales and marketing. She had been national sales director, Diskriter, Pittsburgh.

Never stop learning!
September 1, 2005... Nancy Borkowski, DBA, CPA, FACHE, has a message for students of healthcare finance: "Classroom learning provides only a foundation for your career success; it's equally important for you to join and be active in professional organizations, such...

Bringing diverse groups together to resolve issues.(Healthcare Financial Management Association)(Column)
September 1, 2005... Quite a few years ago, my boss at Blue Cross and Blue Shield of Louisiana thought it would be a good idea to send someone from our provider contracting department to a meeting of a hospital-focused organization. That organization was HFMA. The...

Share the news.(PEOPLE)
September 1, 2005... Have you changed jobs recently? Have you received professional recognition? To have your professional announcement published in "People," contact Dorothy Karmowski at (800) 252-HFMA, ext. 387, or dkarmowski@hfma.org.

HFMA chapters bring networking and education close to home.(Healthcare Financial Management Association)(Brief Article)
September 1, 2005... HFMA has 70 chapters that enhance National membership by providing local networking opportunities, newsletters, and targeted education programs. By getting involved with a local chapter, members get the chance to invest in their personal...

Savings through evidence-based tools.
September 1, 2005... How can hospitals meet the challenge posed by rising drug costs? Hospitals cannot afford to ignore the question of whether certain drugs have greater financial value than others. Traditionally. hospitals have measured the financial value of...

Consumer choice--a worldwide phenomenon: other nations can learn a few lessons from us in providing health care, but we can learn a lot from them, too.(FROM THE PRESIDENT)
September 1, 2005... In late July, 1 participated in HFMA's annual exchange of U.S. and U.K. healthcare financial managers, this year held in Scotland. This was the 25th such meeting, and as always, it was very well done and very educational. Interestingly. a key...