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Improve Your Hospitals Fiscal Health In 2012
Posted on Wednesday, January 4th, 2012 at 4:13 am.
As the New Year 2012 comes in, thoughts of how to improve the fiscal health of your hospital or medical facility is in the forefront. Take the time to visit www.mbrus.com , Medical Business Resources website to see how their Health Care Financial Services can aid you in making 2012 successful and improve your dependable cash flow . Call their Health Capital Consultants for a Medical Revenue Cycle Analysis at 303-409-7722.
Amednews: Experts say setting goals for the coming year that do not fall by the wayside like many New Year’s resolutions is increasingly important to help medical practices stay focused and in business, what with all the changes being wrought by health system reform.
“We’re in a very dynamic time in health care, but it’s not a stable time,” said Manuel Lowenhaupt, MD, a partner in Accenture’s health provider practice in Boston. “Practices need to recognize that their ability to flex and change and focus is much more important than it has been in the past.”
People who work with medical practices say the first step in goal setting is to identify aspirations that are large and overarching. Experts advise that any list of goals include ones that are both realistic to achieve within the next year and ones that are more long-term. There is no specific number a practice should have, although too long a list can become unwieldy.
“You need to have goals to build a strategy and manage a successful business, but if you have more than 10 goals that you hope to implement, it can become unmanageable,” said Jason Hwang, MD, executive director of health care with the Innosight Institute, a think tank in Mountain View, Calif., that focuses on innovation and business.
Goals should be in line with the needs and priorities of the practice.
“Each individual practice is going to have their own mission or vision as well as their own financial or operational goals, and they should be tied into where you want to bring your business,” said David MacDonald, president and CEO of health care consultancy Aegle Advisors in Marion, Mass. “You need to know what the practice’s challenges are.”
For example, is the practice so busy that patients are frustrated with long wait times? Are phone calls from patients not returned in a timely manner, or not at all? Are new physicians or staffers needed to maintain a level of care and keep patients coming back, as appropriate? Are employees disengaged from their jobs? Even if the practice is financially successful, ignoring such issues may jeopardize its future, experts said.
“A practice may need better logistical planning,” MacDonald said. “In this economy, patients are paying more for health insurance and more for care. They expect more value and to get the service they require on their terms.”
Various aspects of health system reform, such as the move toward accountable care organizations and quality-based payment, mean that practices may want to ask: Are there any care gaps or issues with quality? Are there connections that can or should be built with other physicians?
“There are a lot of things changing right now,” Dr. Lowenhaupt said. “The key is to make sure that the patient experience aligns with evolving needs.”
Or is the practice already struggling financially? Does the practice need to find ways to bring more patients into the door or collect a higher percentage of co-pays and deductibles before the patient leaves the office? Does the practice have a high no-show rate? Can office space be used more efficiently?
When the larger goals are identified, the next step is to identify how to get there by breaking things down into smaller, measurable targets. For example, a practice struggling with wait times and patient satisfaction may want to look at improving how patients flow through the office. Where can the process get better? Which staffers should be given specific tasks to achieve this end? If practice financials need improving, are there ways to ensure that patients do not leave the office without at least discussing how to cover their share? How can this goal be broken down so each staffer knows how to achieve the goal?
MBR, Health Care Cost Management & Consulting For Hospitals
Posted on Monday, January 2nd, 2012 at 4:40 am.
Medical Business Resources is a healthcare cost management and consulting company specializing in pre and post-payment financial strategies, cash recovery programs, medical auditing tools and Health Care Financial Services. MBR’s Health Capital Consultants have and continue to improve the fiscal health of most hospitals in Colorado by improving their dependable cash flow! Since 1996 they have made a great improvements in hospital and medical facilities success! Call them at 303-409-7722 and to learn more visit them online at www.mbrus.com .
Amednews: After a nearly weeklong standoff over a payroll tax cut package containing a temporary Medicare physician payment patch, Congress approved a bill that delays the scheduled pay cut from Jan. 1 to March 1. The pay patch means physicians will continue to receive 2011 pay rates for an additional two months while lawmakers seek a compromise on a package that could last through the remainder of 2012.
MBR, Auditing Tools Improve Cash Flow For Medical Facilities
Posted on Friday, December 30th, 2011 at 5:44 am.
Improving the financial performance of healthcare institutions ensures that their operations throughout the entire organization increases cash flow and cash recovery bringing in dependable cash flow. Medical Business Resources has many auditing tools that aid in this process such as SigStat, QDAR, ARMS Tracker and ATB. These tools with the right technology combined with a strategic plan will undoubtedly improve the fiscal health of your facility. Call MBR today at 303-409-7722 and to learn more -visit us at www.mbrus.com .
Amednews: The number of physicians using smartphones has reached a near-saturation point. Meanwhile, the number of data breaches is going up. Coincidence? Leading experts think not.
Recent reports by Manhattan Research have found more than 81% of physicians use a smartphone, up from 72% in 2010. Also on the rise have been data breaches, which, according to research released in December by Ponemon Institute, have risen 32% in the past year. Ponemon found that 96% of all health care organizations surveyed said they had experienced at least one data breach in the past two years. The report did not specify the percentage of breaches from mobile devices. But it stated, “Widespread use of mobile devices is putting patient data at risk.” The report did not specify the percentage of breaches from mobile devices. But it stated, “Widespread use of mobile devices is putting patient data at risk.”
Either way, someone who finds a lost device — or the thief who stole that device — can gain valuable data if that phone is not secured.
Ponemon’s study looked at only 72 health organizations. However, mobile device security is a primary concern throughout the health care field.
In her address to the attendees of the Third Annual mHealth Summit in Washington D.C., Kathleen Sebelius, secretary of the U.S. Dept. of Health and Human Services, noted that a large number of violations are caused by unencrypted devices becoming lost or stolen.
Analysts say mobile devices are like other new information technology in health care: A technology is introduced, and the rate of adoption outpaces efforts to ensure its security. Mobile devices probably got ahead of some people’s ability to manage them adequately, said James Noga, chief information officer of Partners HealthCare in Boston.
Many hospitals are aiming to bridge that gap by improving security so any mobile device a physician uses may access their EMRs safely. Analysts say there are precautions physicians can take as well.
Health Care Financial Services, Proven Strategies
Posted on Wednesday, December 28th, 2011 at 5:27 am.
MBR is a leader in Health Care Financial Management. They provide service for just about every major hospital in the Denver area and surrounding area and others across the country. Call them at 303-409-7722 to start improving your dependable cash flow. Medical Business Resources services include strategies, medical auditing tools, cash recovery, revenue cycle analysis, and medical pre-bill and post-bill account resolution and practice valuation. To learn more visit www.mbrus.com .
Amednews: A southeastern Florida medical school is teaming up with five area hospitals to expand residency training and bring more doctors to the region.
Officials at Florida Atlantic University’s Charles E. Schmidt College of Medicine project that the graduate medical education consortium will create 250 to 350 residency positions within the next few years.
This isn’t the first time a medical school has partnered with hospitals in such a way. Of the 683 institutions that sponsor GME programs nationwide, 15 are hospital consortiums, according to the Accreditation Council for Graduate Medical Education. Although most GME consortiums form to centralize and share resources, the new Florida consortium has the dual purpose of trying to address local physician shortages.
“This is a good example of how a group of hospitals can overcome their parochial and competitive interests to serve the good of their patients and communities,” said Michael Friedland, MD, the college’s dean and vice president for medical education programs. “No one hospital could do it alone. It is a matter of working together to reach the volumes we need.”
Other GME consortiums in places such as Arizona, New York and St. Louis were created with the goal of using resources more efficiently.
For example, Washington University School of Medicine in St. Louis formed a consortium with Barnes-Jewish Hospital and St. Louis Children’s Hospital in 1997 that now trains about 1,100 residents.
“Our consortium was formed to better organize our many training programs, now 82 accredited programs,” said Rebecca P. McAlister, MD, associate dean for graduate medical education at Washington University.
A consortium established in 2006 between the University of Arizona College of Medicine and the University of Arizona Medical Center in Kino trains 97 residents annually. In New York, a consortium between Mount Sinai School of Medicine and 10 hospitals trains more than 1,800 residents. Formed in 1995, it is “dedicated to centralizing, enhancing and monitoring the education provided to house staff and all participating institutions,” says Mount Sinai’s website.
Health Care Financial Management Crucial
Posted on Monday, December 26th, 2011 at 4:15 am.
Medical Business Resources is a Health Care Financial Management company that has been improving dependable cash flow for their clients since 1996. During these uncertain economic times planning is a crucial part of financial management for a company’s overall success. This kind of planning ahead can be burdensome and time-consuming. The advantages of planning ahead offer enormous opportunities. Give MBR a call at 303-409-7722 and learn more at www.mbrus.com .
Analyzing Reports On Health Care, MBR
Posted on Thursday, December 22nd, 2011 at 2:17 am.
The new health care reform laws make it awfully hard to know in which direction your health care facility needs to go. It takes a lot of analyzing reports on health care and keeping up with Congress to even try to make an educated guess. Medical Business Resources does all that for you and your facility. They sort through all the new information and regulation to enable them to improve the dependable cash flow of your facility and hundreds of other medical facilities. They are extremely knowledgeable and with the use of their many medical auditing tools you too can reap the benefits! Call them today at 303- 409-7722 and visit them online at www.mbrus.com for more information. Since 1996 they have been improving the fiscal health of so many!
Amednews: When several hundred members of the Medical Group Management Assn. — historically an organization of people running small to midsize medical groups — were asked whether they were working in private practice, only about half attending an educational session at the organization’s annual meeting Oct. 23-26 raised their hands. The others in the room represented practices owned or run by hospitals.
He then asked audience members to raise their hands if they know exactly what is going to happen with health system reform. Silence. No hands went up.
Medical practices are under a great deal of strain from declining payments, escalating expenses and declining patient volumes. Patient numbers may shoot up, because as baby boomers age, the newly insured enter the system because of health reform — or they may not, because of escalating out-of-pocket health costs. Practices are trying to prepare, but none can anticipate what they are preparing for.
Get Accounts Receivable To A Manageable Level, MBR
Posted on Wednesday, December 21st, 2011 at 5:46 am.
Medical Business Resources can aid you in getting your accounts receivable to a more manageable level. They can enabled you to recapture 25 percent and more of the accounts that you may otherwise write off as bad debt.” Their Health Care Financial Services are second to none! To learn more visit www.mbrus.com or call them at 303-409-7722.
Physicians meeting criteria in 2011 to earn federal electronic medical record incentives will have more time before the Dept. of Health and Human Services requires them to satisfy tougher standards for attaining additional bonuses.
The move is being viewed by physicians and health policy observers as a goodwill gesture by the Obama administration toward EMR early adopters. Doctors and hospitals who currently meet stage 1 meaningful use criteria would be able to vie for bonuses for an extra year under the same requirements, HHS Secretary Kathleen Sebelius announced on Nov. 30. These bonus recipients would not need to upgrade their EMR systems to comply with stage 2 standards until 2014, instead of 2013 under the initial plan. The delay of stage 2 affects only physicians and hospitals who met stage 1 criteria in 2011. Doctors who will report meeting stage 1 requirements for the first time in 2012 will still be expected to meet stage 2 requirements starting in 2014. Before the new policy change, those who waited until 2012 to adopt would have had a later upgrade deadline but still would have been eligible to receive the same total bonus amounts as the early adopters.
Oct. 3 was the last day a physician could begin a 90-day reporting period for 2011, according to the Centers for Medicare & Medicaid Services. Physicians who met the requirements will have until Feb. 29, 2012, to register and attest to receive a bonus for 2011. Physicians can earn up to $44,000 over five years from the Medicare program or up to $63,750 over six years from Medicaid.
The American Medical Association applauded HHS for adding more flexibility to the incentive program by delaying stage 2. “We continue to urge HHS to fully evaluate stage 1 and develop solutions to increase physician participation rates prior to finalizing requirements for stage 2,” said Steven J. Stack, MD, chair-elect of the AMA Board of Trustees.
Improving The Fiscal Health Of Medical Facilities, MBR
Posted on Monday, December 19th, 2011 at 5:28 am.
By recovering fees from unpaid third party payer claims, MBR has been able to generate much needed cash flow for its healthcare clients. By using auditing tools such as AnswerData, ARMS Tracker, QDAR and Sigstat MBR has recovered into the hundreds of millions of dollars for its provider clients over the years since 1996. Call Medical Business Resources to see how they can help you improve the fiscal health of your medical facility at 303-409-7722. To learn more visit them at www.mbrus.com .
Medical Auditing Software Improves Revenue Cycle, MBR
Posted on Friday, December 16th, 2011 at 5:17 am.
Medical Business Resources has a new software product that exceeds expectation by providing answers and strategies for dealing with a healthcare provider’s revenue cycle and accounts receivable. Using AnswerData Software it can quickly show you how to improve and accelerate your revenue cycle and transform your healthcare organization within 90 days. You can obtain your goal of improving your fiscal health starting today by calling our Health Capital Consultants at 303-409-7722 . Visit www.mbrus.com for more information!
Washington – Lawmakers again find themselves with less than a month to pass legislation to stop a steep decrease in Medicare payments to physicians.
Doctors are in the familiar situation of facing severe pay cuts brought on by Medicare’s sustainable growth rate formula. On Jan. 1, the Centers for Medicare & Medicare Services is set to start paying claims for Medicare services at 27.4% less than 2011 rates.
The American Medical Association had hoped that the Congressional Joint Select Committee on Deficit Reduction, dubbed the “super committee,” would eliminate the SGR during its months-long work to address federal deficits. But the committee failed to reach any agreement, not only leaving the SGR intact but also triggering “robotic, across-the-board spending cuts that do not address critical structural problems in the federal budget,” said AMA President Peter W. Carmel, MD.
“The deficit committee had a unique opportunity to stabilize the Medicare program for America’s seniors now and for generations to come,” Dr. Carmel said. “Once again, Congress failed to stop the annual charade of scheduled Medicare physician payment cuts and short-term patches, which spends more taxpayer money to perpetuate a policy everyone agrees is fatally flawed.”
Rep. Jeb Hensarling (R, Texas) and Sen. Patty Murray (D, Wash.), the committee’s co-chairs, released a Nov. 21 statement expressing deep disappointment that they were unable to reach a bipartisan deficit reduction agreement.
“Despite our inability to bridge the committee’s significant differences, we end this process united in our belief that the nation’s fiscal crisis must be addressed and that we cannot leave it for the next generation to solve,” the lawmakers said.
The committee was created during negotiations to raise the federal debt ceiling in August. The Budget Control Act directed the panel of six Democrats and six Republicans to develop a plan that cut federal budget deficits by at least $1.2 trillion over 10 years. The failure to reach an agreement triggers $1.2 trillion in automatic spending cuts, divided between defense and nondefense spending, starting in 2013.
The act exempted Medicare patient benefits and the Medicaid program from the automatic cuts, meaning that Medicare pay to health professionals will be on the chopping block. But the statute capped the total amount that can be cut from Medicare to 2% per year. This totals about $123 billion coming out of the program over the next decade, according to a Sept. 12 Congressional Budget Office report.
Strategies To Improve Revenue Cycles, Healthcare Financial Services
Posted on Wednesday, December 14th, 2011 at 6:00 am.
Medical Business Resources helps you to enable strategies to improve revenue cycles. Sophisticated medical auditing tools, improves access management and accelerates cash recovery. Now more than ever especially with the growing financial pressures on health care, organizations are forced to seek innovative strategies to improve revenue cycle performance. Call MBR and their Health Capital Consultants today at 303-409-7722 and let them show you how they can start improving the fiscal health of your facility. They have been a valuable resource for hundreds of hospitals and medical facilities for 15 years now! To learn more about all their services visit www.mbrus.com .
