Business of Medicine

Somerset Health Care Team: We Understand the Business of Medicine

Victory for ASC Industry on Same-Day Surgery Regulation
October 24, 2011

The Ambulatory Surgery Center Association (ASCA) recently reported that the Centers for Medicare & Medicaid Services (CMS) acknowledged the importance of enabling ASCs to treat patients on the same day that their surgery is scheduled. A final rule released last week, which becomes effective December 23, will allow ASCs to notify patients of their rights on the day of surgery without limitation.

This reverses the current policy that has been in effect since 2009, which requires ASCs to, except in very limited circumstances, provide patient notifications prior to the day of surgery. This change will allow ASCs to treat same-day patients without restriction. Read more…

We welcome your questions and comments on this matter.

CMS Finalizes Medicaid RAC Rule
September 23, 2011

As reported earlier this week in the MGMA Washington Connexion newsletter:

States must have Medicaid recovery audit contractor (RAC) programs in place to identify improper payments beginning Jan. 1, 2012, according to a final rule released by the Centers for Medicare & Medicaid Services (CMS). The Medicaid RAC program, which will be modeled after the Medicare RAC program, was mandated by the Affordable Care Act. In response to comments from MGMA and other stakeholders, CMS added a number of provisions that are consistent with the Medicare RAC program, including a 3-year maximum look-back period and a requirement that Medicaid RACs hire a physician medical director. The administration expects the program to save $2.1 billion over five years, with $900 million of that amount being returned to the states. More from MGMA…

Examine, Diagnose & Treat Your Operations Webinar - September 28, 2011

On Wednesday, September 28, 2011, Cathy Weaver, Kathy Rokita and Kara Wieckowski will present a free webinar on the topic of Operational Excellence.

Our discussion will begin with simple instructions on how to examine your current operations.  We will share how you can use benchmarks to diagnose processes in need of improvement.  Finally, we will explore possible ways to treat problem areas in payer contracting and revenue cycle. Our examples will demonstrate what to do after the initial data review, how to complete a root cause analysis and techniques to help teams implement change in these two areas.

Please join us and your fellow health care leaders and industry experts via webinar to discuss these important topics that impact your bottom line. You may join us via webinar or request a recording of the presentation. Details and registration…

Somerset Lean Six Sigma Education Program
September 6, 2011

We have launched a new educational program in Lean Six Sigma designed specifically for physician practices, clinics and ambulatory surgery centers. Managers and supervisors can learn and apply the most practical tools for immediate improvement benefits. Read more…

See You at the Conference?
August 25, 2011

The Somerset Health Care Team is participating in several conferences in the next couple weeks.  If you are attending any of these, we hope to see you there!

SHRM Indiana Conference. Somerset is a sponsor and exhibitor for the Indiana State Council of the Society for Human Resource Management (SHRM) conference that is being held from August 29 to 30 at the Westin in Indianapolis, Indiana. Somerset will be at Booth 213. Details and registration…

IMGMA Conference. The Indiana Medical Group Management Association (IMGMA) is holding its Fall conference on August 30 at the Ritz Charles in Carmel, Indiana. Somerset will be an exhibitor at this event as well. Brad Carlson and Alysse Popov will be staffing the Somerset booth. Details and registration…

AOA Conference. Jeff Boomershine and Kathy Rokita will be attending the Association of Otolaryngology Administrators (AOA) conference from September 7 to 10 at The Palace Hotel in San Francisco, California. Come see us at exhibit table 49. Details and registration…

Look Beyond Wages and Benefits
August 3, 2011

Improvements in the economy and the job market could lead to an increase in employee turnover. While offering competitive salaries and attractive benefits helps you retain valued staff, improving job satisfaction can help, too.

Employee turnover rate can disrupt the workplace and reduce patient satisfaction. If you’re concerned about keeping valuable staff members on board, be proactive. After confirming that your pay scale and benefits are reasonable for comparable medical practices in your area, see what you can do to improve job satisfaction. Read more…

Health Care Presentation Survey
July 28, 2011

We invite you to take our short survey to suggest presentation topics. If you participate by August 15, 2011, you’ll be entered to win a “summer fun” basket:  http://www.keysurvey.com/survey/375917/1ae2/

Tending to Your Business Side

The goal of any medical practice is to deliver excellent care. Ultimately, however, your success may depend on more than the clinical ability of the doctors in your practice and the quality of the care they provide. Tending to the business side of your medical practice will help ensure financial wellness and overall success. Read more…

Coping with Copious Records
June 28, 2011

Patient charts, financial reports, employee records, tax documents–your practice generates an overwhelming volume of paper and electronic records. How long must they be saved?

There’s no simple answer. Retention periods for some types of records are mandated by law (federal, state and/or local). When there is no established legal timeline, the holding period should be determined by common sense and a prudent approach to managing risk. For example, discarding records used to prepare a federal income-tax return before the IRS audit period expires isn’t illegal, but it could result in a costly fine or penalty. Read more…

Physician/Hospital Alignment & Integration: Post-Presentation
June 22, 2011

Yesterday, Mike McCaslin and Tony Javorka presented on the topic of Physician/Hospital Alignment and Integration. If you missed it, there are a couple short video clips below. Please contact us if you’d like to receive the webinar recording. We welcome your comments and questions on this topic.

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