HealthLeaders Media Finance - November 1, 2010 | Charged Up About Chargemaster Automation View as a Webpage | Subscribe for Free
Charged Up About Chargemaster Automation
Karen Minich-Pourshadi, Senior Editor

If there's one area you cannot afford to take your eyes off, it's the chargemaster. With every revenue transaction funneling through it, the chargemaster has the potential to bring in or cost your hospital millions of dollars. Knowing that, I have to ask, why is it that so many hospitals still use a manual process when an automated one is really a time and money-saver? [Read More]
 
  November 1, 2010

 
Editor's Picks
Getting Supply Chain Right
Hospitals continue to look for ways to decrease their supply-chain costs as well as ways to improve the use of labor. Supply-chain automation, properly deployed, tackles both; it can transform your entire hospital and save money across the enterprise. Find out how Denver Health used supply chain automation to reduce their costs, improve the accuracy of purchasing, inventory management, and accounts payable processes while reducing FTEs. [Read More]
Financial Implications of Community Benefit
Most hospital and health system leaders are now continually tracking and reporting the value of their facilities to the community. But apart from the legal necessity in some states to keep tax-exempt privileges, doing so also supports a facility's mission and can even extend beyond the tax benefits and help in terms of selling points for a merger or partnership. Learn more about why this is so important to your facility. [Read More]
Could Health Plans Derail ACOs?
On paper, accountable care organizations (ACOs) and their promise of lower costs and improved quality appear to be just what this country's convoluted healthcare system needs. Realistically, there are many barriers to widespread execution, none of which are more formidable than ACA-weary health plans. Find out why comments like that, and others made and the New England Journal of Medicine-sponsored roundtable on ACOs has insurers on edge. [Read More]
Intelligence Report: Patient Experience — Help Wanted
While 72% of senior healthcare leaders say that patient experience has been a priority in the past year, only 1 of 8 CEOs has primary responsibility for it. Our exclusive, original research and analysis examines this paradox and delves into the realm of patient experience and its challenges, including why healthcare leaders report lack of success in achieving the kind of patient experience they need to provide. [Read More]
Breakthroughs Report: Future Healthcare and Collaboration
Explore strategies to accelerate the drive toward more cost-efficient and quality healthcare. In this new HealthLeaders Media Breakthroughs report, leading hospital systems—Virtua, Crouse Hospital, Heartland Health, and The Chester County Hospital—share insights and lessons learned. [Read More]
 
HealthLeaders Media Rounds: Building Accountable Care Organizations
Hospitals and physicians are working hurriedly to build systems of care that reward quality, outcomes, and high-value care—the ingredients of the accountable care organization. Innovative healthcare leaders like Carilion Clinic, Norton Healthcare, and Sinai Health System are getting ready now for the future of healthcare system delivery. Join us on Dec. 9 from Carilion Clinic and share the lessons these leaders have learned. [Register today]
 
Finance Forum
HIPAA Compliance Requires Coding, Processes Update
As the deadline for HIPAA 5010 compliance approaches—requiring migration from ICD-9 to ICD-10—the big question on everyone's mind is: what's the greatest path to compliance and efficiency? For payer organizations, this will result in increased enrollments, claims processing, customer service requirements, and operational challenges.

[Read More]
Sponsored Headlines
AMA Webcast: The Online Customer Experience—Make it Exceptional: IBM has defined a forward-looking vision for how organizations will turn today's customer experiences into exceptional experiences that drive business results. Join us on September 21 to hear Kristen Lauria, Vice President of Marketing & Channels at IBM, talk about this vision and introduce two innovative clients who are achieving results today by bringing together the right combination of capabilities online.
 
 
Openness: The Basis for a Sound Unified Communications Strategy: The vast majority of customer environments are mixed environments. In this IBM® podcast you'll hear how an open approach provides you with choice. So instead of ripping out a perfectly good infrastructure, you can integrate what you've already invested in and create additional business value.
 
 
Extend the value of your IT and telephony assets: Unifying telephone communications with real-time collaboration tools can help businesses become more efficient. Read this paper to see how IBM® Lotus® Sametime® Unified Telephony software can give your business a competitive edge by extracting more value from your existing investments in telecommunications.
 
 
Demo: Unified Communications and Collaboration tools: Today, there have never been so many ways to communicate—phone, email, conferencing, texts, instant messaging, and more. But unless communication systems are unified with real-time collaboration tools, business opportunities may be lost. Watch this demo to see how IBM® Unified Communications and Collaboration tools can help your business stay competitive.

Save time, money and face—with LotusLive: The right collaboration tools do more than improve productivity and efficiency. Watch this video to see how a management consultancy company used LotusLive™ to improve its services and image to clients—while saving time and money in the process.

LotusLive Engage Demo: Now you can make working together easier than ever. Watch this demo to see how LotusLive™ Engage can help your business store and share documents, build networks and even host web conferences. And how it can also help your business grow by enabling you to react to challenges and opportunities quickly and efficiently.
 
 
 
Finance Headlines
Hospital Compensation Growth Falls in Line with Larger Economy
HealthLeaders Media, November 1, 2010
Cigna posts profit drop, lifts forecast
The Wall Street Journal, October 29, 2010
R.I. hospital group, Blue Cross adopt new payment plan
The Providence Journal, October 29, 2010
10% of CA Insured Opt for High-Deductible Health Plans
HealthLeaders Media, October 29, 2010
Medical Inflation on Intercept Trajectory with Wage Earners
John Commins, for HealthLeaders Media, October 25, 2010
Winners (and Losers) in the Quality Race for Cash
HealthLeaders Media, October 28, 2010
Pneumonia Misdiagnosis on Readmission Frequent, Costly
HealthLeaders Media, October 28, 2010
 
 
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From HealthLeaders Magazine
Your Move:
Hospitals are Predicting, Adapting to Change

 
The business models that will emerge in the era of healthcare reform are still unclear, but leading hospitals and health systems are already positioning themselves to adapt when they do come into focus. They're taking the first steps toward becoming accountable care organizations even before anyone knows for sure what an ACO will look like—or even if they'll ever come to fruition. [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

How HIPAA Data Standards Will Benefit Payers, Providers:Tom Hughes, President and CEO of the Georgia-based Medical Electronic Attachment, Inc. discusses how the HIPAA HL7 and 275 standards will benefit payers and providers. The standards, designed to facilitate the electronic exchange of patient data, are expected to be finalized in the coming months. [Sponsored by Emdeon] [Listen Now]