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HCM 302
Financial Management
in the Healthcare Industry
Week IV
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WEEK IV OUTLINE
-Practice Exam III (Answers) -Group Project
Class work -Debate
Physician Shortage -HC Youtube -Midterm
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HCM 302
Group Project02/09/2012
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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
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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
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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
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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
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HCM 302
Medicare02/09/2012
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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
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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
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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).
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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
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HCM 302
EMR ROI02/09/2012
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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
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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
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HCM 302
Physician Shortage02/09/2012
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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
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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.
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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.