HealthLeaders Media Finance - September 20, 2010 | Capital Fueling Hospital Expansion Boom View as a Webpage | Subscribe for Free
Capital Fueling Hospital Expansion Boom
Jeff Elliott, for HealthLeaders Media

When financial capital evaporated during the recession, most healthcare organizations chose to put their new construction and renovations on hold. While hospitals may yet find it hard to afford these projects, no longer can they afford to wait. [Read More]
 
  September 20, 2010

 
Editor's Picks
Banner Health to Build Hospital in CO
Banner Health, which operates 23 hospitals in seven states, plans to build a 25-bed critical access hospital in northeastern Colorado between two existing facilities. Banner president and CEO Peter Fine said both existing facilities serve residents "extremely well," but they are more than 50 years old and "the reality is that they are outdated, older facilities that need to be replaced." [Read More]
OIG: Medicare May End Up Overpaying for ESRD Drugs
To keep costs related to end-stage renal disease (ESRD) treatments down, Medicare will be bundling drugs and services for dialysis payments together beginning Jan. 1, 2011. Medicare, however, will find itself overpaying for the dialysis drugs because it is failing to take current market rates—which are dropping—into consideration, according to a report from the Health and Human Services' Office of Inspector General (OIG). Starting Jan. 1, though, Medicare will base price updates on wage and price proxy data from the Bureau of Labor Statistics. For the ESRD drugs portion of the new bundled rate, CMS plans to use the producer price index (PPI) for prescription drugs to estimate price changes. [Read More]
MedAssets to Pay $850M to Acquire Broadlane Group
Supply chain management company MedAssets, Inc. Tuesday announced that it will pay $850 million in cash to acquire Dallas-based rival The Broadlane Group, which serves more than 1,100 acute care hospitals and 50,000 non-acute care facilities nationwide, and MedAssets serves more than 3,300 hospitals and 40,000 non-acute healthcare providers. Patrick Ryan, chairman/CEO of The Broadlane Group, will join the MedAssets board of directors and become president of the company's Spend Management segment when the deal is finalized by the end of 2010. [Read More]
HHS Gives $20 Million for Rural EHRs
Some 1,655 critical access and rural hospitals in 41 states, and the nationwide Indian Country will share $19.8 million in federal funds to help facilities convert from paper to electronic health record technology. The funding represents a new category of support aimed specifically "at assisting critical access and rural hospitals with their particular needs and challenges. This new funding is added to the substantial base we have already built to provide assistance to health care providers throughout the country as they transition to EHRs," according to Health and Human Services Secretary Kathleen Sebelius. [Read More]
 
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Finance Forum
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
Union battle in California threatens S.E.I.U.
The New York Times, September 14, 2010
Surgeons routinely fail to disclose financial ties
The Milwaukee Wisconsin Journal Sentinel, September 14, 2010
Boston Medical Center lays off 119 employees
The Daily Free Press, September 15, 2010
Florida Hospital, United Healthcare agree to 4-year contract
Orlando Sentinel, September 16, 2010
Baylor medical school plans cost-cutting
Houston Chronicle, September 17, 2010
 
 
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From HealthLeaders Magazine
Beyond Going Green
Expectations for environmental sustainability and stewardship are growing as healthcare leaders face heightened scrutiny from government and community. [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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