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Finance

 

68 percent of patients with hospital bills under $500 didn’t pay off the full balance by the end of 2016, according a TransUnion Health study released at the Healthcare Financial Management Association (HFMA) conference in Orlando.

An ever-changing world of reimbursement can be frustrating for those involved in revenue cycle management (RCM). Being too set in your ways to change, however, is one of the most common strategic mistakes seen by Nicole Rogas, MBA, senior vice president of sales at Experian Health.

Whether Republicans’ version of an Affordable Care Act repeal-and-replace bill looks like the House-passed American Health Care Act (AHCA) or the Senate’s Better Care Reconciliation Act (BCRA), it would have a negative impact on the credit ratings of nonprofit hospitals, according to Fitch Ratings.

Transitioning to value-based care and taking on risk is often cited as one of the drivers of the consolidation trend throughout healthcare. Some systems, however, are beginning to look at partnerships more “holistically,” according to Kaufman Hall managing director Anu Singh, MBA, by pursuing creative affiliations to enhance their capabilities rather than a merger or acquisition.

In a year with new payment tracks for Medicare, additional bumps in the road on the path to value-based care and—potentially—an overhaul of health insurance coverage coming through Congress, what are healthcare finance leaders going to be focused on at this year’s conference?

 

Recent Headlines

New York public hospitals eliminating 476 positions

The largest public health system in the U.S., NYC Health + Hospitals, announced on June 2 it will lay off 396 managers and eliminate 80 currently unfilled positions as it faces a projected budget of $6 billion through 2020.

Insurers favor value-based contracts, but few are available

The majority of health plans responding to a Avalere Health survey said they have favorable attitudes towards value-based contracts, though smaller numbers of insurers are actually pursuing or have entered into those agreements.

EDs may charge 12.6 times Medicare prices—with higher markups than other departments

Emergency department services like suturing a wound or interpreting a CT scan may result in patients being charged up to 12.6 times more than what Medicare would pay, with minorities and uninsured patients the most likely to be hit by the markups.

Aetna moving its HQ out of Connecticut, considering ‘several states’

Aetna confirmed it is in negotiations to move its corporate headquarters out of Hartford, Connecticut, which was been its home since it began as a fire insurance company in 1819.

CHS to sell 5 hospitals to Reading Health System

The selloff of Community Health System (CHS) hospitals is continuing, as the struggling hospital operator agreed to sell five Pennsylvania hospitals to the not-for-profit Reading Health System.

Steward would become largest for-profit hospital operator after IASIS merger

Boston-based Steward Health Care System would become the largest for-profit hospital operator in the U.S. if it wins regulatory approval for a $2 billion merger with Franklin, Tennessee-based IASIS Healthcare. 

HFMA ANI 2017 preview: ‘Healthcare finance has always been about change’

Policy uncertainty, changing reimbursement models and price transparency are just some of the topics expected to be discussed at the Healthcare Financial Management Association’s upcoming Annual National Institute, which runs from June 25 to 28 at the Orange County Convention Center in Orlando, Florida. 

UnitedHealth hit with another DOJ lawsuit over Medicare Advantage fraud

The U.S. Department of Justice (DOJ) is again involved in a lawsuit alleging UnitedHealth Group (UHG) received Medicare Advantage payments to which it wasn’t entitled.

HFMA announces 2017 revenue cycle awards

Seventeen healthcare organizations have been named winners of the 2017 MAP Award for High Performance in Revenue Cycle by the Healthcare Financial Management Association (HFMA).

Kaiser, Ascension see big gains in operating income

Financial reports for Kaiser Permanente and Ascension Health saw double-digit increases in operating income, with some of the gains credited to acquisitions both systems have made in the past year.

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