HCM 302

Financial Management

in the Healthcare Industry

Week IV

WEEK IV OUTLINE

-Practice Exam III (Answers) -Group Project

Class work -Debate

Physician Shortage -HC Youtube -Midterm

HCM 302

Group Project02/09/2012

GROUP A

  1- Dana 3- Deja 2-Theresa

4- Nancy   Medical Practice Name: Women’s Specialty Care

  Details : Specialty: OB-GYN # Of Employees: 10 # Of Physicians: 6 # Of PA's :2 # Of MW‘s: 2   # Of Offices: 3 # Org Type: C-Corp  

GROUP B

  1- Diana 3- Hana 2- Devon

4- Cailin   Medical Practice Name: Community Care of New Castle County   Details : Specialty: Family Medicine # Of Employees: 14 # Of Physicians: 9 # Of PA's :3 # Of NP‘s: 3   # Of Offices: 2 # Org Type: LLC  

GROUP C

  1- Natalia 3- Irene 2-Norberto

4- Alyssa   Medical Practice Name: Pediatric Physician Care   Details : Specialty: Pediatric # Of Employees: 10 # Of Physicians: 6 # Of PA's :2 # Of MW‘s: 2   # Of Offices: 3 # Org Type: C-Corp  

WEEK IV & V 1) Mission statement 2) Sample contracts for physicians 3) Hiring of other office staff – LPNs/medical assistant/accountants/receptionist 4) Contracts with hospitals 5) Hospital privileges 6) Insurance Credentialing 7) Cell phones/pagers for physicians

8) Contract with office space (rent/buy) 9) Scheduling 10) Plan for how to grow patient base/how to receive more patients from local PCPs

Uninsured/unassigned/PCPs PCPs in Southern Delaware that still do not utilize hospitalists to the extent of

Christiana area 11) Retention strategy 12) Flow charts for structure of organization 13) Use specific dates for process; especially with hospital privileges and/or

credentialing 14) Website

HCM 302

Medicare02/09/2012

TABLE 5.1PERCENTAGE OF U.S. POPULATION 65 YEARS AND

OLDERYear Percent

1930 5.4

1940 6.8

1950 8.1

1960 9.3

1970 9.8

1980 11.3

1990 12.5

2000 12.8

2010 13.3

2020 16.4

2030 20.1

2040 20.7

2050 20.4

TABLE 5.2U.S. LIFE EXPECTANCY AT 65 YEARS

Year Men Women

1950 12.8 15.0

1960 12.8 15.8

1970 13.1 17.0

1980 14.1 18.3

1990 15.1 18.9

2000 16.4 20.0

2010 17.2 20.8

2020 18.0 21.5

2030 18.9 22.3

2040 19.8 23.2

2050 20.8 24.0

MEDICARE/MEDICAID FRAUD AND ABUSE

Services billed but not rendered (49 percent); Forgiveness (i.e., kickbacks) of deductibles

and coinsurance (12 percent); Fraudulent coding (i.e., upcoding) (7 percent); Billing two parties for the same service (4

percent); Billing for brand-name drugs when generics

were dispensed (3 percent); Billing for unlicensed practitioners (2

percent); and Other (2 percent).

EXHIBIT 13.10ORGANIZATION OF THE FINANCE SYSTEM

Chief Financial Officer

Controller Associate Financial Officer

Internal Auditor

Reports Directly to Finance Committee

of the Board

Systems & Procedures

Property Control

Transaction Accounting

Payroll

Accounts Receivable

Credit and Collection

Investment and Debt

Management

Budget Officer

Managerial Accounting

Transaction Accounting

General Ledger

Accounting

HCM 302

EMR ROI02/09/2012

RETURN ON INVESTMENT SUMMARY

Standardizing Coding 1,897,063Elimination of Dictation 80,345No Show Reduction 300,000FTE Savings 60,000Subtotal 2,337,408

EMR Annual CostHardware * 57,528Software and Hosting 200,000Maintenance and Support 60,000Connectivity 33,600Subtotal 351,128

Annual Total Return $1,986,280

PAPER VERSUS EMR

EMR = With Standardized Coding X EfficiencyPaper = Prior to EMR

Differential = EMR - Paper

PHYSICIAN TYPES EMR PAPER DIFFERENTIALSkipper 92% 449,922 392,133 57,789Halftime 88% 440,549 392,133 48,416

Steady Eddy 88% 440,549 392,133 48,416Speedball 100% 468,669 392,133 76,536

Slider 75% 410,085 392,133 17,952Tortoise 60% 374,935 392,133 -17,198

HCM 302

Physician Shortage02/09/2012

PHYSICIAN SHORTAGE

-There are also concerns that the growing number of female GPs, many of whom work part-time because of family commitments, will lead to further shortfalls.

-Two thirds of trainee GPs are women and research by the Royal College of Physicians has found that women GPs will outnumber their male colleagues by 2013.

-Dr Sarah Wollaston, a Tory MP and former family doctor, said: “It creates all sorts of pressures as women take time out with family commitments. There is a real risk of a shortage

FEMALE PHYSICIANS RESPONSIBLE FOR SHORTAGE OF DOCTORS?

- Have less longevity than their male counterparts,

- Take more time off for maternity and family matters, and

- Work less hours and take less overnight call.

FEMALE PHYSICIANS RESPONSIBLE FOR SHORTAGE OF DOCTORS?

- Women students At the start of 1970, women medical students in the class of 1971-

72 comprised 13.7 percent of all physicians in-training. (1) At that time, some 50 percent of women doctors trained for hospital-based positions--radiology, pathology and anesthesiology.

They wanted a flexible lifestyle that would adapt to family needs. The number of women rose strongly by the decade: 30.8 percent in 1981-81 and 39.8 in 1991-92. In the year 2001-02, some 48 percent of students were women and the trend looks like it will go beyond 50 percent in the decade ahead.

But the demands of family life will have a price. Hospitals are already discounting the economic benefit of a female physicians labor at "point-eight" (0.8) of the full-time week of 60-plus hours of today's male physicians.