Billions of dollars in lump-sum payments are coming to hospitals as a remedy for 340B-related underpayments
Hospitals that participate in the 340B Drug Pricing Program stand to receive $9 billion in aggregate lump-sum payments as compensation for underpayments from Medicare during a nearly five-year period. In a proposed rule issued July 7, CMS described how it would provide remedies following a 2022 Supreme Court ruling that the U.S. Department of Health…
An HFMA podcast episode wins top overall award, and hfm magazine earns a gold for general excellence
An episode of HFMA’s “Voices in Healthcare Finance” podcast and hfm magazine were honored June 27 at the SIIA 43rd Annual AM&P Network EXCEL Awards Gala in Washington, D.C. In total, HFMA took home seven awards. The podcast episode, “How avoiding an awkward waiting room conversation can contribute to better health among transgender people,” earned the…
Annual Conference: Houston Methodist uses AI in virtual models for critical care, patient observation and more
Artificial intelligence (AI) is driving innovation in clinical operations at the Houston Methodist hospital system, as explained during a presentation this week at HFMA’s Annual Conference. Among other virtual-care programs developed by the organization’s innovation center, Houston Methodist has incorporated a virtual ICU and virtual observation in the inpatient setting. Both programs use AI to…
Annual Conference: How Mayo Clinic establishes the mindset and processes that foster innovation
Hospitals and health systems must adapt their practices using an innovator’s mindset to keep up with the change sweeping the industry, according to a presentation this week at HFMA’s Annual Conference. “Innovation, at this point in our industry’s landscape, is pretty critical,” said Praveen Mekala, enterprise division chair with Mayo Clinic, referring to the problems…
Annual Conference: For hospitals, effective chargemaster management can bolster revenue capture
Amid the changes and challenges buffeting the hospital and health system sector, chargemaster management remains a key step in protecting revenue, according to a presentation this week at HFMA’s Annual Conference. At University of New Mexico Hospital (UNMH), a recent chargemaster initiative began with a thorough review, said Holly Cruz, senior financial analyst with University…
Annual Conference: Healthcare entrepreneur Alex Oshmyansky describes his efforts to disrupt drug pricing
Arguably no segment of the healthcare industry is more susceptible to disruption than the market for prescription drugs, as Alex Oshmyansky, MD, PhD, made clear Wednesday morning during the closing session of HFMA’s Annual Conference. Oshmyansky spoke about his personal efforts to disrupt the pharmaceutical market in his role as co-founder and CEO of Mark…
Annual Conference: Keynote speaker Thomas Fisher tells a disturbing story about denial of care
Thomas Fisher, MD, MPH, author and emergency room physician for University of Chicago Medicine, might have made some members of the audience uncomfortable Tuesday at HFMA’s Annual Conference as he described a scenario that reflects poorly on at least one hospital. The situation boiled down to this: A man with a broken jaw and without…
Annual Conference: HFMA Chair Dennis Dahlen issues a call to action for healthcare finance professionals
The concept of punctuated equilibrium refers to systems that experience isolated episodes of dramatic evolution intermixed with long periods of stasis or something close to it. Dennis Dahlen, who on Tuesday morning was installed as HFMA’s National Chair for FY23-24, thinks the hypothesis applies to healthcare. Speaking to Annual Conference attendees, Dahlen, the CFO of…
Annual Conference: Joe Fifer says goodbye
In the 11 years that Joseph J. Fifer led HFMA, he successfully guided the Association through some difficult events. The COVID-19 pandemic, the social unrest related to racial issues and enduring political divisiveness were among the challenges experienced by HFMA under his watch. But Fifer never gave up on promoting the benefits of personal connections…
Annual Conference: Body-language expert Scott Rouse explains how to read others and make a good impression
People who know how to read body language can gain a significant advantage in their interpersonal relations, an expert said during Monday’s keynote session at HFMA’s Annual Conference. Scott Rouse, a behavior analyst and body-language expert who works with law-enforcement agencies and major corporations, said awareness of body language is key to quickly establishing connections…