HealthLeaders Media Finance - June 25, 2007 | Taking the Plunge View as a Webpage | Subscribe for Free
Taking the Plunge
Philip Betbeze, Senior Editor-Finance

Welcome to the first issue of HealthLeaders Media Finance, our new weekly newsletter. Most of you are familiar with our daily healthcare e-newsletter; that's not going away, but I'm looking forward to delivering a product that's attuned more closely to the subjects this audience is interested in. In this week's edition, as I'm leaving shoe leather all over San Diego at the Healthcare Financial Management Association's Annual National Institute, you'll find my audio interview with Kelby Krabbenhoft, CEO of Sanford Health, who talks about the struggles and triumphs associated with his plan to transform the former Sioux Valley Health System into a modified clinic model of healthcare delivery.
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  June 25, 2007

 
Editor's Picks
Pittsburgh hospital president 'shocked' at payment disparities among local hospitals
West Penn Allegheny Health System president Jerry Fedele says he's shocked at a report that shows his hospital system and others are paid substantially less by dominant local insurer Highmark Inc. for cardiac surgeries than provider behemoth UPMC. The report by the Pennsylvania Health Care Cost Containment Council found that wide disparities in payment exist despite no appreciable difference in outcomes. Fedele says if such disparities continue, employers may face grave consequences regarding healthcare inflation in the future as the dominant healthcare provider and dominant insurer grow stronger. [Read More]
New IRS form targets charities' salaries
The Boston Globe reports on the requirements of the new form 990, issued last week by the IRS but still in the comment stage. The new form is intended to clear the opacity of financial reporting for charitable institutions, including nonprofit hospitals, especially as it pertains to top-salaried individuals at those organizations. The most egregious examples of shady pay practices, self-dealing and luxurious perks in this article don't include hospitals, but they'll be affected nonetheless. [Read More]
Tenet's recovery slow but steady
Tenet Healthcare is no different from most hospitals or hospital companies in that it's struggling with bad debt and flatlining patient volumes, but its executive team sounds convinced the troubled hospital chain is on its way back to driving increased volumes and profitability. Still, some observers say the turnaround is progressing more slowly than expected, raising questions about whether the company will meet its EBITDA guidance of between $700 million and $800 million. [Read More]
Q&A with HealthTrust CEO
The Tennessean's Q&A with HealthTrust Purchasing Group, which recently acquired Consorta to make it the third-largest group purchasing organization in the country. Despite questions many have about potential conflicts of interests in the industry, GPOs continue to grow and add members. [Read More]
Finance Forum
Patient Throughput: The Forgotten Element in Revenue Management
Hospitals are at a breaking point, and even with stable or increased volumes many cannot continue on operating income alone. To remain relevant, contributor Marybeth Regan says hospitals need a relentless focus on operations and quality management. [Read More]
Finance Headlines
Study finds one of every eight healthcare dollars spent treating diabetics
Reuters/Yahoo - June 25, 2007
Tree to cost hospital $26,000
Chicago Tribune - June 25, 2007
House backs $1.2 billion LSU hospital in New Orleans
New Orleans Times-Picayune - June 25, 2007
On third try, Nemours Children's hospital in Florida OK'd
Orlando Sentinel - June 25, 2007
Upcoming Events
HealthLeaders Media News - June 25, 2007
From HealthLeaders Magazine
Keep 'Em Close
HealthLeaders June 2007 The goals of the hospital and its physicians are not the same, right? Wrong. The desire for better outcomes and efficiency in healthcare is giving new life to the clinic model of integrated care. [Read More]
Money Talk

A look at one hospital's struggles to improve

CareGroup Inc.
Boston, MA

Rating: BBB
Outlook: Positive
Affected Debt: $505 million
Agency: Standard & Poor's
Remarks: Bonds originally issued for Beth Israel Medical Center, now part of CareGroup. Outlook revision from stable reflects sound financial profile and continued financial improvement over the last few years. CareGroup will issue additional debt for $90-$100 million within the next six months.

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Audio Feature

A Physician-Driven Culture: Kelby R. Krabbenhoft, president and CEO of Sanford Health in Sioux Falls , S.D., talks about the challenges of focusing resources toward forming an integrated model of healthcare by offering employment, but more importantly, a physician-driven culture.
Sponsor Healthleaders Media Finance

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