Taking the Reins in Clinical Documentation

Interview with: Joanne Webb, Chief Executive Officer and Partner, JA Thomas & Associates

Las Vegas, NV, September 2, 2010 - FOR IMMEDIATE RELEASE

Although healthcare organization Chief Financial Officers (CFOs) do not need to be involved in every step of an electronic health record improvement program, they still need to monitor the transition from paper to ensure that the process does not negatively impact the Case Mix Index (CMI), says Joanne Webb, Chief Executive Officer and Partner at JA Thomas & Associates. A drop in the CMI could result in a drop in revenue. From a solution provider company at the marcus evans National Healthcare CFO Summit Fall 2010, taking place in Las Vegas, October 24-26, Webb shares her thoughts on how CFOs can ensure maximum reimbursement for services provided and how they can prepare the organization for the future.

How can healthcare CFOs ensure maximum reimbursement for services provided?

Joanne Webb: This is a major challenge for hospitals right now. The primary goal should be to maximize their reimbursement as much as possible by making sure they have good quality information in their medical record.

The technologies are only as good as the information. There is an assumption that if you have an electronic health record, everything is going to be as good as it can be. That is not the case. The information that goes on record still needs to be captured appropriately to take advantage of the system.

Healthcare CFOshave traditionally not had much involvement with the clinical side of the house. Over the last five years, the financial picture of the hospital has been driven by the clinical side; by how the patient is taken care of all the way through to having the correct codes on records. Now, hospitals are being paid based on the quality and outcomes they provide, and CFOs have to recognize this. They need to be more integrated with the clinical side, and bring in ideas with their team.

How can hospitals improve the quality of data entered?

Joanne Webb: The information on the charts needs to be accurate and for the purposes of coding, only the physician can provide that data. Physicians are good at taking care of patients, but not necessarily at documenting. They need to be educated to understand how and what data to include, and the risks of not doing so. Nurses need to be trained to view the clinical documentation on a daily basis and approach the physician for anything that needs to be documented more specifically. The right information needs to be documented for best results; therefore physicians directly drive reimbursement for the hospital.

In the past, physicians and hospitals were not incentivized to work together, but this will change in the near future.

What else should healthcare organization CFOs prepare for?

Joanne Webb: Hospitals are being challenged to look at how they can provide care and services more efficiently and at a lower cost. To make this happen, physicians must be on board; physician alignment is the key.

In the future, it is likely that payments will be bundled together with the hospital and physicians getting a sum that will be divided. Therefore, physicians will be more motivated to ensure hospital records are accurate. In the best case scenario, payments to hospitals will continue to decrease as patient numbers grow, making it even tougher to provide healthcare.

In the past, hospitals which were part of a health system were not mandated to collaborate on all programs. However, there is a growing trend for the corporate structure to take the reins, deciding what needs to happen and creating consistencies to benefit from efficiencies, so that all hospitals are performing at an optimal level.

What long-term strategies would you recommend?

Joanne Webb: CFOs do not need to be involved in the implementation of an electronic health record; however they must be aware of all the steps. There is a great deal of internal work that needs to be done during the set up process to ensure accurate capture of clinical information that drives severity of illness, capture of quality data, capture of present on admission diagnoses and identification of patient safety issues.

By accurately capturing clinical information in the electronic health record, a hospital CFO can be sure that the hospital is capturing the appropriate revenue.

Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

Tel: + 357 22 849 313

Email:press@marcusevanscy.com

Aboutthe National Healthcare CFO Summit Fall 2010

This unique forum will take place at the Red Rock Casino Resort & Spa, Las Vegas, Nevada, October 24-26, 2010. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The summit includes presentations on physician-hospital integration, ensuring financial survival and strategies for maximizing Revenue Cycle Performance.

For more information please send an email to info@marcusevanscy.com or visit the event website at http://www.healthcare-summit.com/JoanneWebbInterview

Please note that the summit is a closed business event and the number of participants strictly limited.

About marcus evans Summits

marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit http://www.marcusevans.com

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