Becker's Hospital Review

Becker's Hospital Review March 2014

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Hospital Review March 2014 • Vol. 2014 No. 3 INDEX Table of Contents p. 6 Clinical Integration & ACOs p. 18 Financial Management p. 40 Health Information Technology p. 48 Special CFO Roundtable Three CFOs discuss how three major changes — ICD-10, the two-midnight rule and price transparency — will affect their organizations this year. p. 16 What Hospitals Need to Know About Medicare Readmission Penalties Potential reimbursement penal- ties are getting bigger, and the list of conditions under CMS scrutiny is getting longer. p. 40 Retail Health vs. Urgent Care Though the intention of the two is the same — patient-cen- tered care in lower-cost sites — they play different roles. How do health systems decide which strategy to pursue? p. 18 Is Academic Medicine As We Know It DOA? By Lindsey Dunn Academic medical centers. Educators of America's future physicians. Providers of the most complex care, for the most complex patients. Home to ground-breaking medical re- search. And, in a lot of trouble. Every hospital in America faces a challenging future: Reim- bursement pressures are greater than ever. At the same time, providers must expend significant capital to prepare for a future that includes payment based on value, increased risk- sharing and population health management. The Cost of Price Transparency By Ellie Rizzo "If you can't beat them, join them." This nugget of 1930s political wisdom of indeter- minate origin is no less true in a wide variety of situations than it was nearly 80 years ago. While it may be the only option for hospitals faced with growing demands for price transparency, the prob- lem is this: Knowing who to beat and where to join isn't so clear. At this point, however, it's looking like hospitals may be out of options. This past July, what started as a re- gional issue and ballooned to a na- tional issue ended as a nonissue. The Santa Clara County (Calif.) Su- perior Court ruled a local ballot ini- tiative from 2012 that would have capped the pay of executives at El Camino Hospital, a nonprofit, public hospital in Mountain View, Calif., was unconstitutional. Originally, 52 per- cent of people within the hospital's county voted to approve Measure M, which would have limited executive compensation to no more than twice the salary of California's governor. Compensation has always been a sen- sitive topic for hospital executives, and although the El Camino ballot initiative fell by the wayside, the spot- light on executive pay only intensified. In October, Harvard University re- searchers published a study in JAMA Internal Medicine, which looked at the compensation data of 1,877 CEOs at 2,681 private, nonprofit U.S. hospitals. Data came from the hospi- tals' 2009 Form 990s. The researchers found nonprofit hospital CEOs had a mean compensation of $595,781 and a median compensation of $404,938. continued on page 11 continued on page 54 continued on page 10 200 Statistics on Physician Compensation p. 13 The Great Pay Debate: 5 Hospital Executive Compensation Trends for 2014 By Bob Herman Becker's Hospital Review 5th Annual Meeting May 15-17, 2014 • Swissôtel • Chicago, Illinois For more information visit, www.BeckersHospitalReview.com and click on "Conferences." The Most Business- and Quality-Focused Meeting in the Hospital and Health System Arena 100+ sessions and 190+ speakers Register by April 1 for Early Registration Discounts

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