HealthLeaders Media Finance - July 12, 2010 | A CFO's Worst Nightmare? Seeing Red. View as a Webpage | Subscribe for Free
A CFO's Worst Nightmare? Seeing Red.
Karen Minich-Pourshadi, Senior Editor-Finance

More than a few hospitals have found their finances in critical condition over the last couple of years. Here's how one medical facility got into a financial mess, and more importantly, how it was able to extricate itself. [Read More]
 
  July 12, 2010

 
Editor's Picks
Teaching Hospitals Prep for FICA Rebates
Teaching hospitals are trying to regain FICA taxes that they and residents paid from 1995 until April 1, 2005. For years, the IRS had treated medical residents as employees, requiring them and their teaching hospitals to pay FICA taxes on their earnings. Hospitals claim medical residents are students exempt from paying FICA taxes. [Read More]
Lower Mortality, Higher Patient Satisfaction Starts with Turnover
High turnover is something that unquestionably costs money and time, but its tentacles extend into just about everything a hospital does. Quint's firm, the Studer Group, has done several studies that show that when a hospital is able to reduce turnover, other metrics also improve, and those metrics aren't applicable only to the financial side of the house. [Read More]
Is Health Insurance Moving Toward Oligopoly?
Twelve health plans already cover two thirds of enrollment in the U.S. commercial market, a recent report finds. While it's easy to point the finger at new federal regulations and price controls, the industry has been consolidating for years. Healthcare reform may accelerate the process. [Read More]
 
HHS Proposes Tighter HIPAA Privacy Rule
The Department of Health and Human Services Thursday released a proposed rule to modify the HIPAA privacy, security, and enforcement rules, extending HIPAA compliance requirements to subcontractors of business associates and strengthening patient rights to health information privacy. [Read More]
 
Finance Forum
New Medicare Fraud and Abuse Provisions Under the PPACA
President Obama recently signed off on legislation that very likely will result in a substantial increase in lawsuits against health care providers. Intended to combat fraud in the Medicare & Medicaid programs, several amendments in the Patient Protection and Affordable Care Act significantly change the status quo, and will require greater vigilance by healthcare providers in their dealings with the federal government.

[Read More]
 
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Finance Headlines
Sole bidder at foreclosure sale, D.C. pays $20 million for Southeast hospital
The Washington Post, July 12, 2010
Texas doctors threaten to drop Medicaid, fear cuts
Dallas Morning News, July 11, 2010
Factory efficiency comes to the hospital
The New York Times, July 11, 2010
Healthcare propels Nashville's economy
The Tennessean, July 7, 2010
WellCare Says Court Will Permit Claims Pursuit Against Former Execs
John Commins, for HealthLeaders Media, July 8, 2010
Medical Staffing files Chapter 11, plans to sell assets
South Florida Business Journal, July 7, 2010
Domestic medical travel is taking off for surgery deals
USA Today, July 7, 2010
 
 
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From HealthLeaders Magazine
Taking On the Cost Drivers
HealthLeaders June 2010 While most expense categories are unavoidable, there are ways to reduce costs. [Read More]
 
Service Line Management
Creating Stroke Systems of Care
If U.S. healthcare is headed toward a model that eliminates fragmentation and emphasizes continuity and cooperation, stroke care may be leading the way and making a difference in patients' lives. [Read More]
 
Money Talk

A look at one hospital's struggles to improve

Mayo Clinic, Rochester, MN
Rating: AA-
Outlook: Positive
Affected Debt: $1.7 billion
Agency: Standard & Poor's Ratings Services
Remarks: S&P revised its rating outlook to positive from stable and affirmed its AA- rating on various issuers' debt issued for Mayo Clinic. At the same time, S&P affirmed its various other ratings on numerous bonds issued on behalf of Mayo Clinic. Offsetting credit factors include liquidity levels that are still below similarly rated organizations. S&P also considers Mayo Clinic's asset allocation aggressive, with approximately 50% of Mayo's long-term fund in alternative assets. S&P also cites its potential exposure to future Medicare and Medicare physician reimbursement reductions.
[Read More]
 
Audio Feature

Create Extra Capacity, Without Extra Expense: Wayne Keathley, president of New York's Mt. Sinai Medical Center, discusses adding 10,000 patient discharges per year by working on accountability and efficiency in patient throughput. [Listen Now]
 
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Jul. 15: A Better Way Than Pay For Call Coverage
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Aug. 3: Geriatrics Service Lines Strategies The Future of Senior Care
Aug. 17: Direct Employment Compensation Models Find the Right Fit for Your Organization
Aug. 19: August 19, 2010: Women's Health Service Line, UNC, Chapel Hill, NC
 
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