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March 05, 2010

Missouri health system will upgrade revenue cycle management technology

BJC HealthCare, one of the largest nonprofit healthcare organizations in the United States, intends to automate and standardize its charge description master and pricing.

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Current Issue

March 2010

March 2010

  • Convergence or perfect storm?
  • Providers question MedPAC recommendations
  • Medical banking gets HIMSS treatment
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Featured Video

Industry News January 09
Comparative effectiveness research explained
Ellen-Marie Whelan discusses evidence-based healthcare and how it can improve care in this video from the Center for American Progress.
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Featured Podcast

Industry News January 13
Hospitals using Lean and Six Sigma
James Levett, MD, is chairman of the American Society for Quality's healthcare division and chief medical officer for The Physicians' Clinic of Iowa. In this interview with Healthcare Finance News Editor Richard Pizzi, Levett discusses how U.S. hospitals are beginning to embrace Lean and Six Sigma business management strategies to reduce costs and improve productivity.
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Upcoming Events

  • March 10, 2010
    The World Health Care Congress Health Plan Innovation Congress
  • March 25, 2010
    Health Technology Investment Forum
  • March 30, 2010
    3rd Annual Middle East Healthcare Expansion
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Solutions and Services Section

Orlando Health enhances technology for RAC audits
Orlando Health, a not-for-profit network of hospitals and clinical care centers in central Florida, has upgraded its financial and compliance technology in preparation for Recovery Audit Contractor (RAC) audits. MORE
Yale New Haven Health System automates invoice processing
The Yale New Haven Health System has announced plans to automate the extraction of data from invoices throughout its three healthcare delivery networks. MORE
GE gives $1M to 4 Milwaukee health centers
The GE Foundation and the GE Corporate Diversity Council have awarded $1 million to four Milwaukee community healthcare centers to increase access to primary care for uninsured and underserved populations. MORE
New MedAssets program helps providers with construction projects
Healthcare providers looking to launch construction projects will have a new tool at their disposal to make sure brick and mortar issues don’t affect the healthcare delivery process. MORE
American Well brings online care platform to New York
National hospice provider upgrades revenue cycle capability
Online auction nets Maryland health system $1.25M in energy savings
Midwest health centers to use GE's practice management software
Florida medical center implements labor management system
Texas hospital deploys 'unique' revenue cycle model
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Blog

April 14, 2009 Richard Pizzi

Wellpoint sells off NetRx: A good financial move?

As was reported on our site yesterday, pharmacy benefit management firm Express Scripts is acquiring Wellpoint's NetRx subsidiary businesses in a $4.75 billion cash and equity deal. MORE
January 23, 2009 Mike Daly

Collusion en masse - in Mass.

At the beginning of the year, Mass. Governor Deval Patrick convened a panel to examine the agreement between Blue Cross Blue Shield of Massachsetts and Partners, the umbrella organization of Massachusetts General Hospital and Brigham and Women’s Hospital, to determine whether the relationship was driving up healthcare costs, “making it harder to extend healthcare insurance to all residents.” MORE
January 17, 2009 Kester Freeman

"If healthcare were run like retail…" It isn't, nor can it be (part V)

Continuing from yesterday's entry in which I address Regina Herzlinger's article If healthcare were run like retail..., we come to point number 5: "Individuals get generous tax breaks to buy their own insurance, with subsidies for those with low incomes." MORE
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Press Releases

March 17, 2010
LifePoint Hospitals announces 10b5-1 plan to facilitate share repurchase
March 17, 2010
Massachusetts physicians deploy MedAptus for charge capture automation
March 17, 2010
Ontario Systems announces strategic alliance with State Collection Service, Inc.
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  • GE gives $1M to 4 Milwaukee health centers
  • New MedAssets program helps providers with construction projects
  • Arizona health center selects Stockell Healthcare to deploy revenue cycle management solution
  • Cogent Healthcare and Seton Medical Center to develop unique hospitalist services
  • Maryland healthcare system saves $5M with Premier healthcare alliance labor management solution
  • CMS won't enforce 'direct supervision' policy for critical access hospitals
  • Brand-name drug prices are rising in 2010
  • New AMA tool to help doctors correct managed care contracts
  • California hospitals end affiliation talks
  • GE gives $1M to 4 Milwaukee health centers

Resource Central

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    Determining Hedge Effectiveness for State and Local Governments Under GASB 53
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HEALTHCARE FINANCE JOB SPOT

  • Director of Patient Financial Services - Vista Health System - Waukegan, Illinois
  • Epic Business Systems Analyst Ambulatory Practice Management Revenue Cycle - Lee Memorial Health System - Fort Myers, FL
  • Healthcare Consulting Partner/Leader Performance Improvement, Healthcare Finance and Operations - Tatum - Chicago and Dallas
  • Chargemaster - Cheshire Medical Center - NH
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Recent Comments

  • Impact on Texas with TORT REFORM
    Dr Dave

    Good for Business

    The passage of medical liability reforms in Texas had physicians poised to reap long-awaited financial relief. In January 2004, TMLT cut premiums 12 percent. Other carriers subsequently followed suit, and more medical liability insurance companies entered Texas, eager to sell policies to physicians.

    "The results of tort reform have been absolutely amazing," said David Teuscher, MD, chair of TMA's Committee on Professional Liability. "I don't think anyone in their right mind would have testified four-and-a-half years ago that if we pass this, you'd see physicians' insurance rates drop in half and the number of carriers multiply eightfold."

    In 2003, four medical liability insurance carriers were doing business in a state that now boasts more than 30. TMLT was one of the four insurance carriers that not only endured the tort reform battle, but was instrumental in supporting Proposition 12. In 2002, TMLT helped create TAPA; its 200 members fought to pass the crucial legislation. TMLT has worked ever since to achieve meaningful tort reform and to preserve it through ensuing legislative sessions.

    "Some of our competitors today who are enjoying the new, more reasonable legal environment weren't even around in 2003 when the battle for tort reform was won by TMA and the members of TAPA," said Bob Fields, TMLT's chief executive officer.

    With a current policyholder count of 14,224, TMLT insures more physicians in Texas than any other carrier and has reduced rates four times: 12 percent in 2004, 5 percent in 2005 and 2006, and 7.5 percent this year. Policyholders will also receive a 20-percent dividend this year.

    Since 2003, TMLT has reported a premium savings of nearly $139 million and has returned dividends of 25 percent, amounting to nearly $45 million. These dividends were declared in 2005 and 2006 for return to policyholders in 2006 and 2007. And claims intake has dropped. (See "TMLT Claims Intake, 2000-06.")

    TMLT isn't the only company decreasing premiums. Last year, Advocate MD reduced premiums 19.9 percent, The Doctors Company cut premiums 18 percent, and Medical Protective lowered them 13 percent. American Physicians Insurance Company lowered premiums twice – by 5 percent and 13 percent – in 2005. The same year, the Joint Underwriting Association cut premiums 10 percent.

    Getting in on the action in Texas' medical liability insurance sector was Austin-based Medicus Insurance Company, which began writing policies in September 2006. Charles Bailey, MD, was TMA president in 2003 and is now vice president of medical relations for Medicus.

    "Increased competition is without a doubt exactly what we were all hoping for when we got tort reform passed," Dr. Bailey said. "The result of Medicus coming into the state has been that, as we've quoted rates to different physicians with existing carriers, the carriers almost uniformly have lowered their rates to become competitive with us."

  • Liability Reform
    Northwest

    What has been the regional impact of reform legislation in the three adjacent southeast states, Alabama, Mississippi, and Louisiana? The three have different emphasis and degree, and may serve as a local "controlled study"?

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