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The following newsletter is a hypothetical example of how you might select and lay out your stories in an e-newsletter format, based on the HFMA Express News format. Your newsletter will be different, based on the needs of your readers, layout choices that you make, and the identity of your chapter. The goal of this model is to provide some tips about content and layout, but also to show just how easy it can be to create an effective chapter newsletter. For each of the news stories, the source is listed for your reference.
ARIZONA HFMA NEWSBREAK
The Latest News for HFMA's Arizona Chapterwww.azhfma.org
February 3, 2002
In this Issue:
1. Jane Smith Presents Keynote at Arizona Chapter Conference
2. APC Strategies and Brownies
3. Welcome to New Members
4. Kudos to Chapter Members
5. Healthcare a Highlight of State Budget Squeeze
6. Preliminary Notice of Outpatient Hospital Rate Changes Issued
7. Deadline for Hospital Wage Index Change Approaching
8. More Sarbanes-Oxley Implementing Regs Proposed
1. Jane Smith Presents Keynote at Arizona Chapter Conference
Jane Smith, Assistant Secretary of Arizona's Department of Health and Human Services, will offer her views on the challenges facing providers in the face of a tight state budget. Other sessions will highlight new approaches to revenue-cycle management, strategies for creating a more efficient workforce, and tips on improving liquidity. The conference will be held on February 15, 2003, at the Phoenix Sheraton. For more information and to register, visit: [include link]2. APC Strategies and Brownies
The Arizona HFMA Chapter, in collaboration with Memorial Hospital in Tucson, will host a brown-bag lunch discussion of strategies for successfully navigating ambulatory payment classifications (APCs) on March 10th. The discussion will give participants an opportunity to share strategies for APC compliance through improved data, denial, and staff management, among others. The Arizona Chapter will supply the desert. The discussion will take place at 11:30 AM at the Jones Conference Room in the east wing of Memorial Hospital at 123 Medical Road, Tucson. For more information and to register, call 555/123-4567 or visit: [insert link]3. Welcome to New Members
HFMA's Arizona Chapter is delighted to welcome three new members:
•Susan Harrison, Director of Patient Financial Services at Bayside Hospital in Freemont
•Bill Ford, Patient Accounts Manager at Hope Healthcare, Scottsdale
•Sarah Wolfe, Chief Financial Officer at Reed Hospital in Morristown
Please look for these new faces at upcoming chapter events and help make them feel at home!4. Kudos to Chapter Members!
Among the outstanding accomplishments in our HFMA community this month:
•Mary Stevens was recently promoted from Patient Accounts Manager to Director of Accounting at Harper Hospital in Yuma.
•Jack Adams, CFO at St. Luke's Health System in Phoenix, recently achieved his FHFMA.
•Betty Holmes, Director of Finance at Monroe Medical Center in Scottsdale, published an article entitled "What HIPAA Privacy Means to Hospital Finance" in the December issue of Health Information Management magazine.
Kudos to all!
5. Healthcare a Highlight of State Budget Squeeze
The National Conference of State Legislatures recently issued its forecast of the top 10 state legislative issues for 2003, noting that state legislators around the country will have a common dilemma this year. Declining revenues and growing demands will cause each of the 50 states to make tough budget choices as they attempt to close an estimated $17.5 billion budget gap in the next few months and craft a balanced budget for what is expected to be a leaner fiscal year in 2004.
One of the top issues was rising health care and Medicaid costs. When the economy goes down, state health care costs go up. Medicaid accounts for about 15 percent of the average state's general fund budget. Increases in health care and prescription drug costs combined with flattening revenue projections will force state legislatures to make tough decisions, especially when it comes to Medicaid spending.
[from NCSL press room]6. Preliminary Notice of Outpatient Hospital Rate Changes Issued
The Arizona Health Care Cost Containment Administration (AHCCCSA) proposes to recalculate the fee-for-service (FFS) outpatient hospital-specific cost-to-charge ratios (CCRs), using fiscal year end (FYE) 2000 Medicare cost reports and hospital-specific claims and encounters, for services provided on or after January 1, 2003.
The proposed average statewide outpatient cost-to-charge ratio will decrease 6.2% from 34.12% to 31.99%. This decline reflects an overall increase in charges for hospitals in FYE 2000. AHCCCSA is updating these payment rates in order to maintain the equity of the reimbursement system, to more accurately reflect the costs of hospital services provided, and to reflect changes in the cost of providing care.
Written comments should be received no later than 5:00 p.m. on December 31, 2002. For more information and to submit comments, go to:http://www.ahcccs.state.az.us/PublicNotices/OutpatientRates/Default.asp
[from AHCCCS press release]
7. Deadline for Hospital Wage Index Change Approaching
Hospitals planning on making modifications to their Medicare Cost Report Worksheet S-3 wage data (cost reports for FY00) should note the approaching deadline of February 10. The fiscal intermediaries must receive any revision requests and supporting documentation by this date. The data is used to develop the FY04 wage index values. Hospitals should have received notice from their FIs in December that preliminary wage data was available for review. On January 10, CMS put the preliminary wage data files on their web page at http://www.cms.gov/providers/hipps/ippswage.asp
For more on this issue, see:
October 4, 2002, HFMA Express News http://www.hfma.org/publications/expressnews/archives/Oct_04_2002.htm and the
November 2002 Update, from HFMA Express News
http://www.hfma.org/publications/members_only/Updata/November_2002.htm8. More Sarbanes-Oxley Implementing Regs Proposed
The latest proposed regulations to implement portions of the Sarbanes-Oxley Act of 2002 were published in the January 17 Federal Register. This proposed rule directs the national securities exchanges to not list any security of an issuer not in compliance with the audit committee requirements of Sarbanes-Oxley, also known as the Corporate Accountability and Accounting Industry Reform Act. Those requirements address:
•The independence of audit committee members;
•The audit committee's responsibility to select and oversee the issuer's independent accountant;
•Procedures for handling complaints regarding the issuer's accounting practices;
•The authority of the audit committee to engage advisors; and,
•Funding for the independent auditor and any outside advisors engaged by the audit committee.
These provisions implement Section 10A(m)(1) of the Securities Exchange Act of 1934, as amended by Section 301 of the Sarbanes-Oxley Act.
The rule can be found at http://www.access.gpo.gov/su_docs/fedreg/a030117c.html under Securities and Exchange Commission.
To read the Sarbanes-Oxley Act, go to http://thomas.loc.gov/ and search the bill text of the 107th Congress using bill number HR 3763.ENR.
[from HFMA Express News]
ARIZONA HFMA NEWSBREAK is published quarterly by the Arizona HFMA Chapter. Editor: John Smith ([email, phone no.]; Chapter President: Sharon Hopkins ([email, phone no.]. To submit material for NEWSBREAK, please email John Smith at email@example.com.
Copyright 2003, Arizona HFMA Chapter
Publication Date: Sunday, April 11, 2010
In this Business Profile, Bruce Haupt, president and CEO of ClearBalance, discusses how a patient loan program can increase patient collections, reduce bad debt, and speed cash flow.
In this Business Profile, Jerry Bruno, principal with Deloitte Consulting LLP, discusses the importance of choosing revenue cycle solutions that help an organization meet the challenges of a quickly evolving healthcare environment.
In this business profile, Lane Jackson, a partner in the Grant Thornton LLP Health Care Advisory Services practice, with extensive experience in overseeing system implementations and revenue cycle reorganizations, discusses best practices for elevating revenue cycle performance during an EMR implementation. Grant Thornton LLP is a sponsor of the Large System Controllers Council Affinity Group.
In this business profile, Amy Gross, senior vice president of Key Government Finance, discusses the benefits of private placement transactions to support large-scale financing projects.
In this business profile, Doug Polasky, executive vice president at Xtend Healthcare, explains the importance of having sound workflow processes in a consolidated business office to ensure optimal performance and reduce costs.
In this business profile, sponsored by SSI, Jay Colfer, vice president of sales and marketing, shares how patient access solutions are reversing the trend toward increased bad debt resulting from the rise in high-deductible consumer health plans.
In this business profile of Deloitte Consulting, Matthew Hitch and David Betts explore the potential benefits of elevating the customer experience and outline strategies to change service delivery.
TriMedx helps health systems control costs and uncover savings opportunities by optimizing the clinical engineering function.
Patient financial engagement is more challenging than ever – and more critical. With patient responsibility as a percentage of revenue on the rise, providers have seen their billing-related costs and accounts receivable levels increase. If increasing collection yield and reducing costs are a priority for your organization, the metrics outlined in this presentation will provide the framework you need to understand what’s working and what’s not, in order to guide your overall patient financial engagement initiatives and optimize results.
No two patients are the same. Each has a very personal healthcare experience, and each has distinct financial needs and preferences that have an impact on how, when and if they chose to pay their healthcare bill. It’s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients. The need to tailor financial conversations and payment options to individual needs and preferences is critical. This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach, but take control of rising collection costs.
This white paper, written by Apex Vice President of Solutions and Services, Carrie Romandine, discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle. Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs, but it will maximize the amount collected before sending to collections. Further, targeted messaging should be applied across all points of patient interaction (i.e. point of service, customer service, patient statements) and analyzed regularly for maximized results.
This white paper, written by Apex President Patrick Maurer, discusses methods to increase patient adoption of online payments. Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections. This white paper shows why patient-centric approaches to online payment portals are important complements to traditional provider-centric approaches.
Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs. This article, written by Apex Founder and CEO Brian Kueppers, explores a number of strategies to create synergy between patient billing, online payment portals and electronic health record (EHR) software to realize a high ROI in speed to payment, patient satisfaction and portal adoption for meaningful use.
Faced with a rising tide of bad debt, a large Southeastern healthcare system was seeing a sharp decline in net patient revenues. The need to improve collections was dire. By integrating critical tools and processes, the health system was able to increase online payments and improve its financial position. Taking a holistic approach increased overall collection yield by 10% while costs came down because the number of statements sent to patients fell by 10%, which equated to a $1.3M annualized improvement in patient cash over a six-month period. This case study explains how.
With the ICD10 deadline quickly approaching and daily responsibilities not slowing down, final preparations for October 1 require strategic prioritization and laser focus.
Read how Gwinnett Medical Center provides clear connections to financial information, offers multiple payment options for patients, and gives onsite staff the ability to collect payments at multiple points throughout the care process.
Read how Orlando Health was able to perform deeper dives into claims data to help the health system see claim rejections more quickly–even on the front end–and reduce A/R days.
To maintain fiscal fitness and boost patient satisfaction and loyalty, healthcare providers need visibility into when and how much they will be paid–by whom–and the ability to better navigate obstacles to payment. They need payment clarity. This whitepaper illuminates this concept that is winning fans at forward-thinking hospitals.
Financial services staff are always looking for ways to improve the verification, billing and collections processes, and Munson Healthcare is no different. Read about how they streamlined the billing process to produce cleaner bills on the front end and helped financial services staff collect more than $1 million in additional upfront annual revenue in one year.
Effective revenue cycle management can be a challenge for any hospital, but for smaller providers it is even tougher. Read how Wallace Thomson identified unreimbursed procedures, streamlined claims management, and improved its ability to determine charity eligibility.
Before launching an energy-efficiency initiative, it’s important to build a solid business case and understand the funding options and potential incentives that are available. Healthcare leaders should consider taking the steps outlined in the whitepaper to ease the process of gaining approval, piloting, implementing, and supporting sustainability projects. You will find that investing in sustainability and energy efficiency helps hospitals add cash to their bottom line. Discover how hospitals and health systems have various options for funding energy-efficient and renewable-energy initiatives, depending on their current financial structure and strategy.
Health care is a dynamic mergers and acquisitions market with numerous hospitals and health systems contemplating or pursuing formal arrangements with other entities. These relationships often pose a strategic benefit, such as enhancing competencies across the continuum, facilitating economies of scale, or giving the participants a competitive advantage in a crowded market. Underpinning any profitable acquisition is a robust capital planning strategy that ensures an organization reserves sufficient funds and efficiently onboards partners that advance the enterprise mission and values.
The success of healthcare mergers, acquisitions, and other affiliations is predicated in part on available capital, and the need for and sources of funding are considerations present throughout the partnering process, from choosing a partner to evaluating an arrangement’s capital needs to selecting an integration model to finding the right money source to finance the deal. This whitepaper offers several strategies that health system leaders have used to assess and manage capital needs for their growing networks.
Announcements from several commercial payers and the Centers for Medicare and Medicaid Services (CMS) early in 2015 around increased efforts to form value-based contracts with providers seemed to point to an impending rise in risk-based contracting. Rather than wait for disruption from the outside in, health care providers are now making inroads on collaborating with payers on various risk-based contracting models to increase the value of health care from within.
Yuma Regional Medical Center (YRMC) is a not-for-profit hospital serving a population of roughly 200,000 in Yuma and the surrounding communities.
Before becoming a ZirMed client, Yuma was attempting to manually monitor hundreds of thousands of charges which led to significant charge capture leakage. Learn how Yuma & ZirMed worked together to address underlying collections issues at the front end, thus increasing Yuma’s overall bottom line.
Kindred Hospital Rehabilitation Services works with partners to audit the market and the facility’s role in that market to identify opportunities for improvement. This approach leads to successes; Kindred’s clinical rehab and management expertise complements our partners’ strengths. Every facility and challenge is unique, and requires a full objective analysis.
As the critical link between patient care and reimbursement, health information enables more complete and accurate revenue capture. This 5-Minute White Paper Briefing shares how to achieve cost-effective revenue integrity by your optimizing HIM systems.
Speedier cash flow starts with better CDI and coding. This 5-Minute White Paper Briefing explains how providers can improve vital measures of technical and business performance to accelerate cash flow.
Qualified coders are getting harder to come by, and even the most seasoned professional can struggle with the complexity of ICD-10. This 5-Minute White Paper Briefing explains how partnerships can help improve coding and other key RCM operations potentially at a cost savings.
The point of managing your revenue cycle isn’t just to improve revenue and cash flow. It’s to do those things effectively by consistently following best practices— while spending as little time, money, and energy on them as possible.
How Lucile Packard Children’s Hospital Stanford increased payments received within 45 days by 20% and reduced paper submission claims by 70% by using ZirMed solutions.
The reasons claims are denied are so varied that managing denials can feel like chasing a thousand different tails. This situation is not surprising given that a hypothetical denial rate of just 5 percent translates to tens of thousands of denied claims per year for large hospitals—where real‐world denial rates often range from 12 to 22 percent. Read about how predictive modeling can detect meaningful correlations across claims denials data.
Emergency Mobile Health Care (EMHC) was founded to be and remains an exclusively locally owned and operated emergency medical service organization; today EMHC serves a population of more than a million people in and around Memphis, answering 75,000 calls each year.
Since the Physician Quality Reporting Initiative (PQRI) introduction, CMS has paid more than $100 million in bonus payments to participants. However, these bonuses ended in 2015; providers who successfully meet the reporting requirements in 2016 will avoid the 2% negative payment adjustment in 2018, so now is the time to act! Included in this whitepaper are implications of increasing patient responsibility, collections best practices, and collections and internal control solutions.
Getting paid what your physician deserves—that’s the goal of every biller. Yet even for the best billers, achieving that success can be elusive when denials stand in the way of success, presenting challenges at every turn. Denials aren’t going away, but you can learn techniques to manage and even prevent them.Join practice management expert Elizabeth W. Woodcock, MBA, FACMPE, CPC, to: Discover methods to translate denial data into business intelligence to improve your bottom line, determine staff productivity benchmarks for billers, and recognize common mistakes in denial management.
Physician practices must improve organizational efficiency to compete in this era of reduced reimbursement and escalating administrative costs.
Many healthcare organizations are pursuing next-generation health information systems solutions. Learn more about Navigant's work with University of Michigan Health System.
The proper implementation of healthcare information technology systems is crucial to an organization’s financial health.
Converse and network with your peers around vital topics.
Drive down costs while improving quality in a reform environment.
Receive expert insights and how-to action to achieve and maintain peak revenue cycle performance.
Access expert insights on financial forecasting/planning, strategic partnerships, capital allocation, and more.
Copyright 2016, Healthcare Financial Management Association.
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