HealthLeaders Media Finance - September 7, 2010 | 6 Strategies for Lowering Bad-Debt Exposure View as a Webpage | Subscribe for Free
6 Strategies for Lowering Bad-Debt Exposure
Jeff Elliott, for HealthLeaders Media

With healthcare reform introducing anywhere from 20 to 40 million new patients into the healthcare system, hospitals must address self-pay balances as a way of controlling bad debt. Here are six ways to gain control of hospital payments. [Read More]
 
  September 7, 2010

 
Editor's Picks
Tort Reform's Impact on Lowering Medical Malpractice Litigation Costs May Be Limited
While tort reform efforts to reduce malpractice lawsuit threats such as those suggested in the Affordable Care Act might reduce medical liability costs, other efforts underway, such as the remodeling of the healthcare delivery system probably provide greater opportunities for savings, report finds. [Read More]
Baptist Health System Announces Layoffs, Reorg
Baptist Health System announced this week that 200 jobs will be eliminated at the Jackson, MS health system as part of a cost-cutting strategic overhaul that comes with a weak economy, falling admissions, and anticipated lower Medicare reimbursements. Of the 200 jobs slated for elimination, 186 are now filled, including 50 nursing positions. In addition, Baptist is relocating its Pediatric Outpatient Services away from the 640-bed Baptist Medical Center and to its Same Day Surgery Unit, to account for declining inpatient pediatric admissions. [Read More]
7 Tips for RAC Region D Providers
A recent update to the evaluation of the RAC demonstration shows that HealthDataInsights (HDI), the RAC for Region D, had the highest percentage of claims overturned on appeal, which shows that, like providers, HDI is not perfect. The tips in this article help providers develop a conscientious approach from start to finish, which can augment chances of success throughout the RAC process. [Read More]
Marin General Sues Sutter Health for $120 Million
Marin General Hospital Corp. has filed a suit against Sutter Health Corp. to recover more than $120 million that Marin claims Sutter improperly took from hospital's accounts for four years. The suit alleges that since 2006, Sutter removed more than $30 million a year from Marin General's reserves, moving the money into Sutter accounts for its own benefit. In the five years before that, Sutter had made "cash sweeps" of less than $3 million a year. [Read More]
 
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If you want even better insight into what your peers are doing as healthcare experiences seismic changes, this is an opportunity you can't afford to pass up. The HealthLeaders Media Council is comprised of the nation's leading healthcare executives who collectively provide the most unbiased industry intelligence available. As a HealthLeaders reader, we invite you to qualify to become a member by completing a brief survey.
Join fellow Council members to:
  • Share your knowledge of the industry by contributing to brief online surveys
  • Access survey results and research reports in advance
  • Pose questions to solicit colleagues' opinions on your organization's most pressing challenges
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  • [Read More]
 
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]
 
Sponsored Headlines
Video: Green Data Centers to Smart Buildings with Enterprise Asset Management: Clay Nesler, of Johnson Controls, discusses how IBM asset management solutions enabled them to bring smart building solutions to the commercial and institutional marketplace. IBM Maximo, the complete end-to-end solution, addresses the instrumentation of buildings and the interconnection of that information and technical systems. Johnson Controls have been able to integrate data from all systems—reducing energy use, improving productivity and reducing costs.
 
 
Webcast: Smarter Buildings: Linking energy efficiency with facilities management and maintenance by gaining insight into facilities, their conditions and work processes, CIOs, building owners, operators and tenants are better able to plan and control their environments, thus improving overall operational effectiveness and energy efficiency.
 
 
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Webcast: A Conversation with The Johns Hopkins Hospital: This high-level Flash video provides an overview of how the IBM Smarter Planet campaign can help improve facilities management. By using IBM Maximo Asset Management, facilities managers are enabled to create smart buildings that reduce overall energy use and are operationally efficient.

Axendia White Paper: Lowering the Cost of Healthcare from the Inside Out: This white paper, written by Axendia, discusses how integrated asset and service management enables healthcare providers to enhance patient care, improve clinical outcomes, reduce costs and ensure compliance.

Real-time asset location visibility improves operational efficiencies: This solution brief discusses how the addition of real-time asset location capabilities to IBM Maximo® Asset Management provides complete visibility of an organization's total enterprise assets in real time. This unprecedented visibility enables an organization to improve asset utilization and employee productivity by providing the current location of existing resources.
 
 
 
Finance Headlines
Hospital Job Growth Up in August
HealthLeaders Media, September 7, 2010
America's Most Profitable Hospitals
Forbes, September 1, 2010
Detroit-Area Hospitals to Invest $1.3 Billion in Improvements
The Center for Studying Health System Change, August 30, 2010
Wisconsin: Outpatient facilities Cannot Be Tax-Exempt
The Business Journal of Milwaukee, August 30, 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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