Economics

This channel highlights factors that impact hospital and healthcare economics and revenue. This includes news on healthcare policies, reimbursement, marketing, business plans, mergers and acquisitions, supply chain, salaries, staffing, and the implementation of a cost-effective environment for patients and providers.

OIG: Sloppy billing to blame in $254 million Cleveland Clinic overpayments

Cleveland Clinic was overpaid $253,593 ($184,568 outpatient and $69,025 inpatient) for procedures that included the replacement of medical devices during 2008 and 2009, and beneficiaries incurred $6,000 in additional co-payment costs, according to a report from the Office of Inspector General (OIG).

Siemens responds to market challenges with Agenda 2013

Siemens Healthcare, in response to challenges emerging from a changing market environment, is launching Agenda 2013, a two-year global initiative within the company aimed at focusing resources efficiently and tapping into growth markets.

RBMs could save $24B by 2020

The implementation of a radiology benefits management (RBM) program could result in significant savings to the Medicare Fee-for-Service program, according to a study commissioned by National Imaging Associates, a subsidiary of Magellan Health Services, and performed by Milliman, an independent actuarial and consulting firm.

ACRs Radiology Leadership Institute determines core areas of study

The Board of Directors of the American College of Radiologys (ACR) Radiology Leadership Institute (RLI) has established the RLI Common Body of Knowledge, which will serve as the foundation for radiologys first professional development and leadership academy.

KLAS: 50% of providers to replace revenue cycle mgmt in 5 years

The number of healthcare providers replacing their revenue cycle management system has risen drastically according to new research from healthcare research firm KLAS. Over the next five years, nearly half of the providers KLAS interviewed for the study told KLAS they plan to replace their RCM, with 87 percent of those planning to do so in the next three years.

Medicaid survey: States plan to cut costs in 2012

States, caught between the approaching expiration of American Recovery and Reinvestment Act (ARRA) funding and implementation of the Patient Protection and Affordable Care Act (PPACA), are balancing cost-cutting and cost-containment strategies with healthcare reform initiatives, according to a survey by the Kaiser Family Foundations Commission on Medicaid and the Uninsured. The 11th annual survey provides a snapshot of Medicaid spending, enrollment and policy initiatives in each state based on data for fiscal year (FY) 2011 and FY 2012.

CHIME: Project management + IT equals cultural change, cost savings

SAN ANTONIOA facility-wide effort to improve systems and processes began at Lawrence & Memorial Hospital in New London, Conn., back in 2007, which led to the creation of a project management office, said Kimberly Kalajainen, vice president and CIO, during a presentation last week at CHIME11, the Fall CIO Forum. We had a cultural change with a lot of technological change. It boiled down to a lot of risk and we turned that risk into great benefit. I cannot tell you the value we get from the project management office on a daily basis.

Radiologist-Hospital Relations: 12.01, 8:30am-10am

An expert panel reviews the business basics of radiology, outlines the value-added services of hospital radiology groups and offers pointers for developing and maintaining successful radiologist-hospital relations.

Around the web

The nuclear imaging isotope shortage of molybdenum-99 may be over now that the sidelined reactor is restarting. ASNC's president says PET and new SPECT technologies helped cardiac imaging labs better weather the storm.

CMS has more than doubled the CCTA payment rate from $175 to $357.13. The move, expected to have a significant impact on the utilization of cardiac CT, received immediate praise from imaging specialists.

The newly cleared offering, AutoChamber, was designed with opportunistic screening in mind. It can evaluate many different kinds of CT images, including those originally gathered to screen patients for lung cancer. 

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