Survey: Hospitals saw 10% increase in self-pay dollars in past 5 years

http://www.beckershospitalreview.com/finance/survey-hospitals-saw-10-increase-in-self-pay-dollars-during-past-5-years.html

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With the rising popularity of high-deductible health plans, hospital and health system executives know they must find effective ways of communicating with patients about their financial responsibility and develop strategies to ensure proper payment. Many executives have made strides in these areas, but there is still room for improvement, according to a Healthcare Financial Management Association survey sponsored by Parallon.

HFMA researchers surveyed 117 senior finance executives and revenue cycle leaders to examine their organizations’ self-pay processes and patient financial engagement efforts.

Here are six survey findings:

5 hospitals with strong finances

http://www.beckershospitalreview.com/finance/5-hospitals-with-strong-finances-september22.html

Market Power

Here are five hospitals and health systems with strong operational metrics and solid financial positions based on recent reports from Moody’s Investors Service, Fitch Ratings and S&P Global Ratings.

Note: This is not an exhaustive list. Health system names were compiled from recent credit rating reports. Systems are listed in alphabetical order.

Dignity faces losses, liabilities and growing competition

http://www.bizjournals.com/sacramento/news/2016/09/23/dignity-faces-losses-liabilities-growing-competiti.html?utm_campaign=CHL%3A+Daily+Edition&utm_source=hs_email&utm_medium=email&utm_content=34808183&_hsenc=p2ANqtz-8h_HMsvU2q90cDf3SnJ-eaFudwaRvjHdmz71VBVsoXo-Lvrdj1o4cfL_kDlmCYzaF_Sme8cV_fA6ymPj7my5BB8Nj3gw&_hsmi=34808183

The area’s third-largest private-sector employer faces financial challenges that could lead to cuts in its local workforce of 7,800, observers say

Chinese billionaire ups stake in CHS for $31.9M

http://www.beckershospitalreview.com/finance/chinese-billionaire-ups-stake-in-chs-for-31-9m.html

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Chinese billionaire Tianqiao Chen has a more than 12.9 percent stake in Community Health Systems after recently buying nearly 3.5 million more shares of the Franklin, Tenn.-based for-profit hospital operator, according to a recent Securities and Exchange Commission filing.

Mr. Chen and his group of companies paid just over $9 on average per share, bringing the total price of the transaction to $31.94 million.

A pioneer in China’s online gaming industry, Mr. Chen’s net worth is estimated by Forbes to be at more than $1 billion.

Mr. Chen, who began buying CHS at the end of the second quarter, upped his stake in the company as it is exploring options with financial sponsors. Private equity firm Apollo Global Management is reportedly in discussions to acquire CHS’ assets. Some real estate investment trusts are also interested in the company’s assets, people familiar with the matter told Reuters.

ACO inside report details challenges of ‘regulatory headwinds’

http://www.healthcaredive.com/news/aco-inside-report-details-challenges-of-regulatory-headwinds/426663/

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  • A new report from Aledade, a company that helps physicians form and operate accountable care organizations (ACOs), says its groups have successfully increased primary care utilization and revenue, decreased lab and imaging costs, and decreased emergency department and hospital utilization and readmissions.
  • The findings were shared to provide a “frontlines” perspective on the challenges and lessons learned in delivering value as a Medicare Shared Savings Program (MSSP) ACO.
  • The report calls out “regulatory headwinds” that it says are currently working against ACOs in the program, including the national benchmark used to determine savings. Although the implementation of regional benchmarking will provide a more accurate measurement in years 4-9, in the meantime it still leaves some ACOs facing a longer stretch of time to achieve financial success.

 

 

34% of patients would delay care in lieu of loan program, survey finds

http://www.beckershospitalreview.com/finance/34-of-patients-would-delay-care-in-lieu-of-loan-program-survey-finds.html

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As employees shoulder a greater portion of medical costs, finance has become an important factor in patients’ healthcare decisions.

ClearBalance’s healthcare consumerism survey is designed to measure patients’ awareness and perception of healthcare finances. More than 2,700 ClearBalance customers completed the survey in August.

ClearBalance partners with hospitals and healthcare providers to offer interest free financing programs to patients who are unable to afford their medical treatment upfront.

Below are four survey findings.

Troubled hospital giant CHS looking to sell its business

http://www.modernhealthcare.com/article/20160916/NEWS/160919916/troubled-hospital-giant-chs-looking-to-sell-its-business

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Earlier this month, Modern Healthcare reported that CHS plans to sell more than the 12 hospitals it has for sale, quoting CFO Larry Cash speaking at the Wells Fargo Securities Healthcare Conference in Boston.

Cash said they are getting interest in additional hospitals. And after examining its portfolio of 159 hospitals, it likely will see “other transactions” before the end of the year, he said.

The hospitals previously up for sale will likely be sold as part of five transactions. Not-for-profit hospital systems are among the prospective buyers, he said.

CHS is not disclosing which hospitals it is negotiating to sell. But the company said that combined, they generate annual revenue of about $1.45 billion and expect to yield net proceeds of $850 million. The proceeds will be used to reduce overall indebtedness, Cash said.

In April, CHS completed the spinoff of 38 mostly small and rural hospitals into a new public company, Quorum Health Corp. That divestiture brought about $1.2 billion in net proceeds, money that also was used to reduce debt.

Plunging earnings complicated by continued low margins at Health Management Associates hospitals that CHS purchased for $3.9 billion in 2014 has caused CHS’ stock price to plummet.

The stock traded at $60 a share a year ago.

Could It Be Sepsis? C.D.C. Wants More People to Ask

Between one million and three million Americans are given diagnoses of sepsis each year, and 15 percent to 30 percent of them will die, Dr. Frieden said. Sepsis most commonly affects people over 65, but children are also susceptible. According to one estimate, more than 42,000 children develop sepsis in the United States every year, and 4,400 die.

Sepsis develops when the body mounts an overwhelming attack against an infection that can cause inflammation in the entire body. When that happens, the body undergoes a cascade of changes, including blood clots and leaky blood vessels that impede blood flow to organs. Blood pressure drops, multiple organs can fail, the heart is affected, and death can result.

“Your body has an army to fight infections,” said Dr. Jim O’Brien, the chairman of Sepsis Alliance. “With sepsis, your body starts suffering from friendly fire.”

Sepsis appears to be rising. The rate of hospitalizations that listed sepsis as the primary illness more than doubled between 2000 and 2008, according to a 2011 C.D.C. study, which attributed the increase to factors like the aging of the population, a rise in antibiotic resistance and, to some extent, better diagnosis.

Sepsis is a contributing factor in up to half of all hospital deaths, but it’s often not listed as the cause of death because it often develops as a complication of another serious underlying disease like cancer. So although death certificates list sepsis as a cause in 146,000 to 159,000 deaths a year, a recent report estimated that it could play a role in as many as 381,000.

Yet advocacy organizations say many Americans have never heard of sepsis and don’t know the signs and symptoms.

Hospital Readmissions are Not the Enemy

http://www.healthleadersmedia.com/quality/hospital-readmissions-are-not-enemy?spMailingID=9540993&spUserID=MTMyMzQyMDQxMTkyS0&spJobID=1001565259&spReportId=MTAwMTU2NTI1OQS2

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The Centers for Medicare & Medicaid Services has all but declared war on readmissions. But one researcher suggests that the relationship between readmission rates and quality is flawed.

Four Delaware health systems form new alliance

http://www.delawareonline.com/story/news/health/2016/09/15/four-delaware-health-systems-form-new-alliance/90407280/

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The new eBrightHealth is a partnership of Christiana Care Health System, Bayhealth Medical Center, Beebe Healthcare and Nanticoke Health Services

EBrightHealth dovetails with the health care reform the state is undertaking with the Delaware Center for Health Innovation, officials say. It also builds on the relationships the systems have established over the last year as they participate in the statewide Quality Partners Accountable Care Organization.

The ACO focuses on creating more comprehensive care and cost-savings for Medicare patients. As Nevin said, it’s designed to reward hospitals for disrupting their business model by encouraging them to find ways to keep people healthier so they don’t need emergency rooms or hospital admission.

Christiana Care’s Care Link program is an example of what has come out of the ACO. Carelink identifies complex patients who are high-risk, for example those who do not have access to primary care, and connects them to physicians who will reach out and find out what their needs are.

Social workers, pharmacists, behavioral health therapists and nurses are all involved.

EBrightHealth is modeled after initiatives such as AllSpire Health Partners, which is a consortium of seven New Jersey and Pennsylvania hospital systems. That organization is three years old.