Becker's Hospital Review

Finance, Revenue Cycle & ICD-10 community, especially if [hospitals] are 501(3)(c) organizations." 5. Electronic health records. EHRs are a major investment for hospitals, usually costing millions of dollars. For large health systems with multiple facilities and physician practices, EHR investments could top eight figures. Mr. Summers of UHS Delaware Valley Hospital says everyone in the healthcare sector has "jumped on the EHR bandwagon" to meet the government's meaningful use standards, but EHRs are more than just federal incentive dollars. Hospitals must invest in the right EHR because that system will impact the day-to-day activities of physicians, staff and, most importantly, patients. Currently, UHS Delaware Valley Hospital is on its third EHR vendor in the past eight years, and Mr. Summers says he finally believes the hospital has found the right system. For other organizations, he recommends executives do their homework and go with a health IT vendor that has a credible background and is in the health IT game for the long run. "Even though it might be an inexpensive EHR, you don't just want to jump for it due to the 39 price," Mr. Summers says. "You want an EHR vendor that's in it for the long haul and can conduct research and development to expand that product." For CFOs who are unsure of certain projects and whether they will create a batch of red ink for their hospital, there is always a foundational resource — peer networks. "Utilize your peer networks," Mr. Moncher says. "HFMA, ACHE, the American Hospital Association, your state hospital association — it's the global assumption that they all exist for the greater good in general." n Which Insurer is Most Willing to Offer Performance-Based Contracts? By Molly Gamble O ut of seven major payors, providers ranked UnitedHealthcare last when it came to overall satisfaction but second for willingness to engage in innovative payment models, according to a Medical Group Management Association survey. Aetna — 3.16 Humana — 1.74 Coventry — 3.00 Anthem — 1.75 Anthem — 2.99 Coventry — 1.66 Humana — 2.83 In its fifth annual survey, MGMA polled nearly 800 physician practice professionals on payor communications, provider credentialing, contracting, payment policies, system transparency and the payors' willingness to engage in innovative payment models. United Healthcare — 2.77 How transparent to you are the cost and quality measures used by the payor for its physician rating and/or payfor-performance programs? Here are some key rankings from MGMA's 2012 report. Medicare Part B — 2.73 A score of 1 reflects "completely unwilling" while a score of 5 reflects "completely willing." A score of 2 reflects "moderately unwilling." Anthem — 2.14 Medicare Part B — 1.95 Humana — 2.07 United Healthcare — 1.82 Cigna — 2.06 Aetna — 2.04 Cigna — 1.76 A score of 1 reflects "completely dissatisfied" while a score of 5 reflects "completely satisfied." Cigna — 3.20 A score of 1 reflects "no transparency" while a score of 5 reflects "complete transparency." A score of 2 reflects "slight transparency." Aetna — 1.80 What is your overall current satisfaction with the payor? Medicare Part B — 3.53 How willing is the payor to engage in innovative payment models or offer new/innovative contracts based on concepts such as accountable care, shared savings, medical homes or payment bundling? Coventry — 2.02 n United Healthcare — 2.07 Subscribe Today! Becker's Hospital Review CFO E-Weekly Report Current news, analysis and best practices on hospital finance, debt financing and investments as well as revenue cycle issues, including coding, billing and collections, the transition to ICD-10 and Recovery Audit Contractors To sign up for the FREE E-Weekly, visit www.BeckersHospitalReview.com and click on the CFO Report drop down under the "E-Weekly" tab or call (800) 417-2035

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