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Message from the President,
Greetings Maine Chapter of HFMA Members:
As my term as Chapter President comes to a close, I feel fortunate to have been able to work with such a great group of individuals at the board, committee and membership levels. A lot of hard work has gone into providing the Chapter's educational programs, newsletters, and member experiences making it another successful Chapter year.
Next year the Chapter will be led by Anne Cloutier, President, Denis Houle, President-Elect, and Jim Pacheco, Vice President. I am excited that the Chapter will be in such great hands. Anne and Denis recently attended the National Leadership Training Conference in Anaheim, CA to connect with other Chapter Leaders from around the country and to prepare for the coming 2013-2014 HFMA year. This conference is an excellent opportunity to network with colleagues and gather ideas to help improve our already exceptional Chapter.
Planning for the upcoming year is already in place. Keep your eyes open for the Chapter's upcoming educational opportunities. This year the Maine Chapter's Annual Meeting will be held at Hollywood Slots in Bangor on September 19th-20th.
I'd like to thank all of our Chapter members for making this past year as president such a rewarding experience. I look forward to continued involvement with the Chapter and to seeing you all at a future educational session.
For more information on opportunities to join our leadership team and benefit from the wonderful experiences that HFMA has to offer, please contact myself or any of the individuals noted above. Again, it has been a pleasure serving all of you!
Sincerely,
Melanie Meader
President Maine Chapter HFMA
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| Featured Article | |
The Transition to Emerging Revenue Models
By John M Harris and Rashi Hemnani, DGA Partners
Hospital and health system finance leaders are presented with the challenge of deciding whether to embrace the healthcare industry's apparently inexorable trend away from fee-for-service payment and adopt a variety of emerging new value-based revenue models. These models include accountable care organizations, bundled payment arrangements, quality performance incentives, gainsharing with physicians, narrow network arrangements and shared-risk or full-risk contracts.
Making the transition to these new revenue models has been described as crossing a chasm. Yet finance leaders are charged with creating smooth financial paths forward, not making daring leaps across chasms.
To ensure a smooth transition, finance leaders need analytic models that allow them to plan thoughtfully and recognize all of the effects of these new revenue models. They also must decide how quickly to pursue these initiatives, how much revenue to shift, and how their organizations will succeed in this new environment. Choosing among potential contracts and setting the right pace may determine future success more than any other organizational strategy.
studies, success stories, testimonials
Click Here for Full Article for used yout or service successfully. Solicit material from clients and vendors, or ask your readers to write. It's a win-win! You get relevant content, and they get exposure. |
Keep it Clean: Security and Regulations for Medical
Mobile Devices
By Eigen Heald, Consulting Manager, BerryDunn
Unlike the usual corporate pattern, users have driven the adoption of tablets in the workplace, rather than employers being the ones to roll out new technology. This employee-driven adoption of tablets in the office has certainly taken IT departments aback, and it has horrified security professionals. This article discusses how to use these deviced in a healthcare setting in a safe manner and in compliance with HIPAA Privacy and Security Rules.
Click Here for Full Article |
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HFMA Project Points Out to Power of Business Intelligence
by Kelsey Brimmer, Healthcare Finance News
Driven by skyrocketing healthcare spending, the Healthcare Financial Management Association has launched Value Journey, a new initiative with 35 hospital systems across the country to identify common challenges, as well as common capabilities, strategies and tactics. For at least one hospital - so far - business intelligence has become a focal point.
During the recent Maine Chapter HFMA Accounting Update conference in Freeport, Maine, Wayne Bennett, CFO at Franklin Community Health Network, FCHN, in Farmington, Maine, explained how his organization -- one of the hospitals participating in the project -- has been focusing on one facet of the project, the use of business intelligence, to improve clinical and financial performance.
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HFMA Region 1 Twelfth Annual Healthcare Conference taking place on May 16th through May 17th, 2013 at Mohegan Sun Resort in Connecticut
Navigating the uncharted waters as we sail toward a new world of healthcare is the key theme for the healthcare industry in 2013. Now more than ever, the HFMA Region 1 Twelfth Annual Healthcare Conference provides the perfect setting to provide you with the information and tools you need to help your healthcare organization plan for the challenging period ahead. Three education tracks are offered focusing on Revenue Management, Payment and Reimbursement, and Improving Value in Healthcare.
Steve Rose, FHFMA, CPA, National Chair-Elect, HFMA, provides opening remarks on The Value Journey. The keynote address will be presented by Joe Flower on The Change Project. Mr. Flower has over 30 years of experience as a premier observer and thought leader on the forces changing healthcare in the United States.
The conference is being held at the exciting Mohegan Sun Resort in Uncasville, Connecticut from Thursday, May 16, 2013 through Friday, May 17, 2013.
The conference kicks off with a Golf Tournament, hosted by the Connecticut Chapter, at the Fox Hopyard Golf Club in East Haddam, CT, on Wednesday May 15, 2013. For more information on the Golf Tournament contact Eric Wetherell (eric.wetherell@us.pwc.com).
Attendance at the Region 1 Healthcare Conference has more than doubled since its inception and Region 1 has won four HFMA Yerger Awards for collaboration in planning the conference.
Planning for the Region 1 Annual Conference is done by prior participants, making the conference activities and agenda truly a member-driven experience. Educational sessions on ICD-10, Accountable Care Organizations, risk based contracting, OIG audits, managing the transition to value, and medical necessity and short stays will be offered during the two day conference.
The conference's proximity to Mystic Country provides family entertainment, whether it's bonding with Mystic Aquarium's Beluga whales, touring a New England winery, or simply spending a day at Olde Mystic Village and the Seaport. Additionally, major shopping outlets are close by. All of these venues are only 20 minutes away from the Mohegan Sun Hotel. Available at the Hotel are a spa, indoor pool and exercise rooms as well as the KidsQuest entertainment area.
The conference brochure with complete details has been mailed to all Region 1 members. If by chance you did not receive yours, visit the Massachusetts-Rhode Island Chapter website to download a brochure and register. When you review the brochure you will see the conference volunteers have provided educational and vendor opportunities in response to your requests.
Please contact the HFMA Region 1 office at (781) 647-7004 or e-mail at HFMAReg1@camihq.com if you have any questions about the conference or your registration.
We look forward to seeing you there! |
IRS releases its Annual Exempt Organization's Work Plan for 2013
By Karen L. Henderson, CPA, Tax Manager at WithumSmith+Brown, Certified Public Accountants and Consultants
On January 25, 2013, the Internal Revenue Service released its annual Exempt Organizations FY2012 Annual Report and FY2013 Workplan. The Annual Report and Workplan provide a summary of Exempt Organization activities undertaken in FY2012 and discuss areas in which it intends to focus its efforts in FY2013. Please note that the IRS fiscal year end is September 30. In the Annual Report and Workplan, Lois G. Lerner, Director, Exempt Organizations, stated that "Beginning with the FY2012 Annual Report and FY2013 Workplan, we will work to provide you with a clearer picture of the many elements that make up a project and give you a better sense of which elements we will be taking on within a particular fiscal year. We believe this approach will enable us to provide you with better, more timely, information about ongoing projects". Click Here for Full Article |
Swing Bed Services in Critical Access Hospitals
by Denis Houle, Manager, Baker Newman Noyes
Rural America is older and is growing older faster than the rest of the country. These trends raise concerns about access in rural areas to post-acute and long-term care (LTC) services. Although rural hospitals and Critical Access Hospitals (CAHs) in particular, have historically played an important role in providing these services, there is some evidence that this is changing.
Click Here for Full Article |
CMS Stepping Up Transitional Care Management Billing Efforts
We all recognize how hard medical teams work to treat patients during inpatient and outpatient hospital, SNF, CMHC, observation and partial hospital stays. But the team's work does not end when the patient is discharged. Reducing hospital readmissions is critical and vital in today's healthcare environment and, thus, requires an increased focus on discharge care management. Effective January 1, 2013, CMS has provided clarification on how to bill for these services.
Click here for full article |
2012 Form 990: Significant Changes
On January 31, 2013 the Internal Revenue Service ("IRS") posted on its website, the final version of the 2012 Federal Form 990, Return of Organization Exempt From Income Tax ("Form 990") and instructions. Although not intended to be a complete summary we have outlined below some of the more significant changes relating to the 2012 Form 990.
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Member Spotlight - Laurel Morrison, CMA, CIA 
Position: Senior Internal Auditor at Eastern Maine Healthcare Systems
HFMA Involvement: New HFMA member
How long have you been at Eastern Maine Healthcare Systems? Since 2006, before my Internal Auditor role I was the EMHS Home Office Accounting Manager.
Where were you before EMHS and what were your roles?
I was the Controller for the Champion International Costigan & Passadumkeag Studmills and the Assistant Controller for R.H. Foster. I also had roles as Cost Accounting Manager at ZF Lemforder and Interface Fabrics Group.
Why did you want to join HFMA as a member?
I have enrolled in the HFMA Certification Program. I hope to gain knowledge in the area of Revenue Cycle as I enter my new role as an Internal Auditor with limited experience in this area and thought that the certification would be a great tool to fill that gap.
What is new and exciting happening at EMHS?
We are very excited about the merger with Mercy Hospital. The Mercy merger would expand the EMHS footprint from Presque Isle to South Portland and add approximately 1,500 full time employees to our organization. Mercy does not currently staff an internal audit department. The EMHS Internal Audit staff will have the opportunity to provide a new level of service to Mercy.
What has been one of your toughest business decisions in your career? One of my toughest decisions was to move to my internal audit role after 30 years in general accounting closing the books. It was an adjustment and challenge transitioning from a role managing an accounting staff to becoming an individual contributor.
Where did you obtain your education?
I am an alumni of the University of Maine at Orono for both my BS and MBA.
What is your passion in life?
I'm passionate about Animal Welfare Advocacy and have served on the Bangor Humane Society Board.
Interviewed by Aimee Plowman, BNN |
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Attention CHFP and FHFMA Members! FHMA Released Revised Certification Maintenance Requirements
To retain your certified status with HFMA, you are required to remain an active member annually as well as maintain your designation every three years through participation in relevant professional development activities. Effective December 2012, the HFMA Board of Examiners (BoE) revised the certification maintenance requirements as it relates to these activities.
The following revisions have been implemented:
- 90 contact hours of eligible education activity reduced to 60 hours across the three year maintenance cycle
- Clearly defined list of eligible education activities covering specific content domains
The reason for the revisions is that maintenance activity will be more clearly tied to current defined practice standards.
HFMA recommends that all certified members review the revised education activities, the online reporting tool and certification maintenance web page. Doing so will help familiarize you with the maintenance process.
Remember, maintaining your HFMA certification:
- Demonstrates your commitment to the highest standards of professional practice and a dedication to quality healthcare;
- Provides value to your employer and the public through continued refinement of professional skills and expertise;
- Positions you to assume increased leadership within your organization and the profession
For more informaiton visit HFMA's Maintaining My Certification Page |
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Newsletter Contest | |
he Maine Chapter of HFMA is continuing its newsleter contest!
The National HFMA has announced a new theme for the upcoming year - "Leadership Matters".
As you read the newsletter, look for this logo:
It could be ANYWHERE so make sure to click on the full article links as you search for the logo. Once you find the it, send an e-mail with your name and the location of the logo to Natasha Erb at nerb@fchn.org.
You could win a $50 gift certificate to L.L. Bean!!
All entries must be submitted by May 16. A winner will be drawn on May 17, 2013.
Happy reading!
Congratulations to Anne Berg from Maine Health on winning the Winter Leadership Matters Newsletter Contest!
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Thanks
To Our
Sponsors | |
GOLD SPONSORS
SILVER SPONSORS
BRONZE SPONSORS
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| Welcome New Members! |
Ann Gregory
Christopher S Giles
Vice President, Treasury Management Services
TD Bank
Patrcia Freedman
Marketing Admin Support
PowerPay
Karen Prescott
Revenue Cycle Consultant
EMHS
Matt Stringer
Commercial Relationship Manager
Key Bank
Jennifer Rossi
Finance Specialist
Mount Desert Island Hospital
Les Keay
MaineGeneral Health
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| Upcoming Education Events | |
Save the Date:
June 14th
PFS Summit
Hilton Garden, Auburn
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Mark Your Calendars!
Maine HFMA Annual Meeting
September 19-20, 2013
Hollywood Slots Casino, Bangor
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TAKE ADVANTAGE OF
FREE HFMA WEBINARS | |
May 8
Is Your Hospital System Prepared to Handle Today's Regulatory Billing Auditor?
2:00 to 3:30 pm, CST
May 15
The New Regulatory Environment: What Hospitals May Not Know About Consumer Credit Law
2:00 to 3:30 pm CST
May 22
Reimbursement Model Transition Planning: From Fee-for-Volume to Fee-for-Value
2:00 to 3:30 pm CST
May 29
Challenges with Transitioning to Accountable Care
2:00 to 3:30 pm CST
May 30
Medicare's Proposed Inpatient Prospective Payment System Rule for FY 2014
2:00 to 3:30 pm CST
June 11
Make Better Decisions for Your Hospital Using Service Line-Based Cost Accounting
June 13
How to Control Costly Physician Prefernece Items
To access full list of educational webinars click here: http://www.hfma.org/webinars/
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DID YOU KNOW? | |
Maine Chapter of HMFA celebrated the 55th anniversary of its organization on February 21, 2013!
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| ME HFMA Newsletter Committee | |
Natasha Erb, chair, 207-779-2284, nerb@fchn.org
Laurie Melanson, committee member,
L.Melanson@fmhospital.com
Stephanie Richio, committee member,
SRichio@bnncpa.com
David Kennedy, committee member,
dkennedy@berrydunn.com |
| Next e-Beacon | |
July 2013
Did you miss a Beacon publication? Visit Maine Chapter of HFMA website to view past issues:
Past Newsletters
We are always looking for new ideas and content to imrpove our newsletter. If you would like to join the Newsletter Commitee or would like to submit comments or ideas, please contact Natasha Erb at nerb@fchn.org
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