In This Issue:
[President's Message]
[New Members  Spotlight - Welcome to NEOHFMA]
[Northeast Ohio HFMA Speaker Series]
[Program Recaps]
[2009 GHALI]
[Article: Evaluating Capital Equipment Financing]
[Kudos]
[Puzzle]
Newsletter Archive

 

Presidents Message

Chuck Josey, PresidentHappy New Year!!

I hope you enjoyed the holidays with your family and friends and wish everyone a great 2009!  Our Holiday Party which was held at the Key Club in downtown Cleveland was a huge success and actually had the highest attendance of any previous NE Ohio HFMA holiday party on record (at least within the last 10 years). A 50/50 raffle was held at the party which resulted in a donation of $480 to the Autism Society of Ohio. I’d like to both congratulate and thank Dan Hardwick and others on the Networking Committee for a great party!

With the celebration of the New Year, many of us take the opportunity to make resolutions and re-establish personal and professional goals. HFMA has a variety of valuable resource available for your professional resolutions, and I wanted to take the opportunity to highlight a few of them. In addition to the vast amount of information available on the national web site and monthly magazine, HFMA offers a variety of high quality, low cost education both locally and nationally.  We also offer the FHFMA certification in a variety of healthcare finance specialties and have scholarships available within our chapter that can offset the cost of the study materials and exam. Bob Matitia heads up the certification for our chapter, and you should contact him if you’re interested. Finally, HFMA offers a variety of opportunities for networking and for members to hone their leadership skills.  The chapter is a volunteer-run organization, and we’re fortunate to have a group that is very enthusiastic in many positions within the chapter. If you’re interested in being involved, the first step is to become actively involved in a committee by contacting one of the co-chairs or indicating interest on the membership survey (see below). 
 
Annual Membership Survey
If you have not done so already, please take a moment to give your feedback on the annual membership survey which can be taken on-line using the following link:

http://www.surveymonkey.com/s.aspx?sm=j8njUdU725mqQQw9CH1Yog_3d_3d

This is valuable feedback for the leaders of the chapter and will be used it to make sure our programs and services continue to meet the needs of our membership.

Upcoming Programs

We have a variety of programs being planned for the next couple months:  

  • Our annual Patient Financial Services program will be held at the Corporate College East on February 19 featuring Lyman Sornberger of the Cleveland Clinic and Kenneth Morgan of Gustafson & Associates.    

  • While the specifics have not been finalized, we will hold our annual Past President’s program in March which will involve both educational programming and dinner honoring the past presidents of the chapter. 

  • We’re experiencing a blizzard as I write this, and it helps, on days like this, to look forward to spring.  On that note, the Regional HFMA Gerry Haggerty Annual Leadership Institute will be held at the Kalihari resort in Sandusky May 20 – 22. 

  • And finally, mark your calendar for our annual membership appreciation golf outing which will be held August 27 at . . . wait for it . . . Firestone Country Club where we will be golfing on the famed south course!  More details to follow. I hope to see you at one of the upcoming programs.

Sincerely,

Chuck Josey, CPA
President


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New Members Spotlight - Welcome to NEOHFMA!

A closer look at some of the newest members to the
Northeast Ohio Chapter of HFMA.

Andrea Bodo
Aultman Health Foundation

Getting to Know You Questions:
What is the biggest challenge you face in your position?
Medicare Rules and Regulations.

Why did you decide to get involved in HFMA?
Education opportunities to enhance my abilities as a Revenue Integrity Analyst.

What was the last book you read?
Trace Evidence by Elizabeth Becka

What is your favorite restaurant in Northeast Ohio?
Bravo.

Danny Brywczynski
Charis Healthcare

Getting to Know You Questions:
What do you like most about working in healthcare?
I enjoy the ever-changing environment of healthcare.  It forces you to always be thinking, learning and adapting to the changing landscape.

Why did you decide to get involved in HFMA?
Networking and to stay current in healthcare trends.

Where did you go to college?
Wittenberg University

Browns, Indians, both, or neither?
Indians.

 



 

 

 

 

 

 

 

 


 

 

 

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Northeast Ohio HFMA Speaker Series
Save the Date for these upcoming programs!

PLEASE NOTE: The folowing program is a Case Western Reserve University sponsored program.

Click here to register for this event.


Program Date:
 February 17, 2009, 9:00-11a.m, Registration begins at 8:30a.m.
Program Location:  George S. Dively Building
                            11240 Bellflower Road
                            Cleveland, OH 44106

Who Killed Health Care?: America's $2 Trillion Medical Problem - and the Consumer-Driven Cure - Breakfast with Regina Herzlinger

Topics: 
Consumer-driven healthcare
The problems of global competitiveness
The cure-a single payer system or consumer driven healthcare
The impact on health insurance and the delivery system

Cost: $50 per person  –  Includes breakfast, materials and parking

Speaker: 

  • Regina Herzlinger, Healthcare industry expert and Harvard economist

Program Date:       February 19, 2009
Program Location:  Corporate College East

February Education Program

Topics:
Are You Ready to RAC and/or Roll Over?
Building Frontline Teams of Excellence - Patient Focused Staff Collection Competence

Speaker:

  • Lyman Sornberger, Executive Director of Patient Financial Services for the Cleveland Clinic Health System
  • Kenneth W. Morgan, Senior Consultant, Gustafson + Associates, Inc.

More information to come on this and other upcoming events:


Past President’s Program: March, 2009. Details to follow. 

NEO HFMA GHALI: May 20-22, 2009. See GHALI Article.   

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Program Recaps

Accounting & Auditing / Reimbursement: October 29, 2008

We hosted a dual track program on October 29. The tracks that were available to members were an Accounting and Auditing Track and Reimbursement Track. The program was held at Corporate College East. A networking lunch was held after the programs.

We had three very good speakers for the Accounting and Auditing Track. Carmen Natale from Summa Health System started the program by speaking to the work to be done in creating a balanced scorecard. He shared his experience in implementing this strategy at Summa. He spoke about the process and key steps in the process. Carmen was also included discussion of the role of benchmarking and the challenges around integrating benchmarking into a balanced scorecard.
 
Susan Flaherty of Ernst & Young gave a very good presentation about current the hot topics in accounting and reporting. She covered extensively the impact of the current crisis, fair value, investments, pension and postretirement benefits, debt, contributions and endowments and International Financial Reporting Standards.  Susan did a very good job giving details to the attendees about these topics as well as how to prepare for the impact to each entities audit.
 
Finally, Jeff Petrell of Carbis Walker LLP gave a complete presentation on the new 990. Jeff extensively covered not only the changes but also some of the reasoning behind the changes that not-for-profits will be facing for the 2008-year filing. He was able to point out for our members the key points of the core form including key points of the redesign. 

Julie DiFrancesco of Ernst & Young provided the presentation for the Reimbursement Track. She covered the Medicare Improvements and Providers Act (MIPPA). Julie was able to give the members in attendance MIPPA highlights. Additionally she was able to spend time speaking to changes related to the Wage Index. She also gave updates for physician payments, quality reporting, e-prescribing, primary care services, diagnostic imaging, beneficiary improvements and Medicare Advantage.

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2008 Holiday Party
By Dan Hardwick

The record attendance at the annual Holiday Awards Party indicated the popularity of moving to “The Club” downtown at the Key Center / Marriott.  HFMA President, Chuck Josey, honored award recipients for their dedication to making our chapter of HFMA an effective and fun organization. The Club provided elegant atmosphere, food and fellowship. When the music began, the fun kicked into high gear well into the night.

2008 Award Winners
Bronze
Rhonda L. Ridenour
David R. Lang
Philip N. Wells
Gold
Charles S. Josey
Karen J. Mihalik
Steve E. Rybka
Silver
Brian C. Nestor
Susan R. Flaherty
Anna Sulewski
Cynthia A. Dormo
Bradley P. Smith
Medal of Honor
Maureen A. Woods
William J. Bogdan

View Photos of the Event

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2009 Regional HFMA Gerry Haggerty Annual Leadership Institute (GHALI)
May 20-22, 2009

KalahariThe Gerry Haggerty Annual Leadership Institute (GHALI) is a regional HFMA conference co-sponsored by the Northeast Ohio, Central Ohio and Northwest Ohio chapters of HFMA with additional support from other chapters in the region. Attracting healthcare finance professionals from the Great Lakes region, the GHALI combines educational programming led by nationally-recognized speakers with opportunities to network with others in the industry.

The 2009 GHALI will be held once again at the Kalahari Resort and Nia Conference Center in Sandusky, Ohio. Kalahari brings “a world away” experience to travelers in the Midwest. With everything under one roof convenience, the Kalahari Resort includes spectacular indoor and outdoor waterparks, spas, extensive retail and shopping areas, multiple dining options, and authentic African experiences. For information regarding Kalahari, visit their website at http://www.kalahariresorts.com/oh/Default.aspx

Come and bring the whole family for days full of fun.  HFMA guests will receive a special conference room rate of $128 per night for Tuesday through Friday and a special rate of $148 for Saturday.  For reservations, call 877-525-2427 and let them know you are attending the HFMA Conference.

This year’s program is packed with great speakers covering a variety of topics you will not want to miss. The conference agenda includes:

  • Dual track seminar schedule with outstanding keynote speakers.
  • Educational seminars by nationally-recognized speakers – 17 hours of CPE available for Accountants and HFMA Fellow, and 14 hours of CEU for members of the American College of Healthcare Executives.
  • Daytime networking activities including golf at Sawmill Creek, Kalahari spa, and wine tasting.
  • Cocktail receptions and dinners.
  • Evening and after-hours entertainment with Casino Night, Dancing, Texas Hold-em and new this year: Cornhole tournament.
  • Plus all the amenities offered at the Kalahari Resort.

Sawmill Creek GolfFor more information regarding golf at Sawmill Creek please visit: http://www.golfsawmillcreek.com/



Here are a few comments from the 2008 attendees:

Spa Kalahari“Really enjoyed the location, facilities were beautiful.”

“This spa event was the best of all spa events I've attended at a GHALI.”

“Tremendously enjoyed meeting people from the Cleveland chapter. Also, it was a very nice conference - informative, etc. & allowed us to obtain CEUs.”

Mark your calendars now for May 20-22, 2009. We are looking forward to seeing you there!  For more information and to register for this event, please visit:

http://www.neohfma.org/ed_program_08/gerry_haggerty.htm

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Mike ParrisEvaluating capital equipment financing in today’s market: the value of the sale-leaseback transaction

By Mike Parris, Relational Technology Solution

As a new year begins, it is no secret we are stuck in a precarious moment in time. The healthcare industry has felt the economic “sting” as much as anyone, especially in terms of securing capital dollars.  As credit continues to get tighter and traditional financing sources dry up, hospitals must begin to evaluate different strategies to preserve capital and ensure financial stability.

Depending on size, location, patient volume, and current balance sheet, hospitals are cutting budgetary spending, delaying capital-intensive projects, or all but eliminating acquisitions of equipment and technology.

Those who have the ability to implement new technologies in the medical equipment or IT space for providing optimal patient care are asking themselves, “what are my funding options?”

Organizations which have not previously explored leasing are now beginning to do so. Many of those who have purchased medical & IT equipment in the past have begun to evaluate lease options as a means to preserve cash.

Why?

In many cases leasing provides multiple benefits. It reduces up-front capital outlay, improves cash flow, offers tax advantages, and provides greater end-of-life flexibility and avoidance of technology obsolescence. 

What many people fail to realize is that there are flexible and innovative ways to structure leases in order to fit the needs of a particular hospital, clinic, or organization. While most decision makers understand the basic principles of operating leases and capital leases, they must also become familiar with more specialized lease structures that can be applied to address the specific challenges presented by today’s credit market.

In particular, Sale-leasebacks are becoming more prevalent as a simple way to preserve working capital, though it has historically been an under-utilized tool.

What is a sale-leaseback? Quite simply, a sale-leaseback is an agreement in which an organization – in this case a hospital – sells fixed assets, currently owned, for cash to a lessor and leases the assets back.

Continued

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Kudos to You!
By Jack Bailey

Kudos to Keeth Stone, Senior Financial Analyst of Audit and Accounting Compliance with University Hospitals on passing both parts of the CHFP Exam!

Kudos to Jim Lipkovich, Senior Financial Analyst of Audit and Accounting Compliance with University Hospitals on passing all four parts of the CPA Exam!

Congratulations to the owners and staff of JP Recovery Services, Inc (John Beirne and John Murray). JPRS was recently selected by the Ohio Health System (Columbus, Ohio) to play a major role in their receivable management program in 2009. JPRS was chosen from among many of the major collection agencies in the Midwest for this important assignment. The organization has grown to become the major employer in Rocky River and is ranked in the top five collection agencies in Ohio that specialize in healthcare.

Kudos to Brian Nestor, Finance Director of Managed Care & Decision Support with University Hospitals on passing both parts of the FHFMA Certification test!

Congratulations to Brad Gingerich of Healthcare MCR Consulting Group on his promotion to Senior Consultant. Brad’s work over the course of 2008 in the successful turnaround of Bayonne Medical Center in New Jersey is remarkable.

Congratulations to Joe Beatty on his promotion to Finance Director at Huron Hospital.

Congratulations to Mary Ann Freas on her promotion to VP of Finance at Southwest General Hospital.

Congratulations to Bill Brown. Bill was recently hired as a Senior Sales Consultant with Human Arc and will be managing the IN, TN and KY market.

Congratulations to Ben Gleason.  Ben was recently hired as a Sales Coordinator for the Hospital Division with Human Arc.

Kudos to Dave Lowe. Dave has recently joined MedA/Rx, a Revenue Cycle Management company headquartered in Charlotte, NC, as their Regional Sales Manager for Ohio, Indiana and Michigan. Formerly he was the Regional Manager for Development with Medical Reimbursements of America. Dave is a long time member of our NE Ohio HFMA Chapter and a Past President

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Puzzle –Be My Valentine
By Jack Bailey

Jimmy was in love - with three girls from his school! He couldn't decide which one he wanted to give his heart to so he sent all three a Valentine's card. But poor Jimmy was out of luck - each girl thought the card came from someone else and Jimmy was left on the sideline. 

From the clues below, can you work out the name of each potential sweetheart, the color of each card Jimmy sent and the name of the boy each girl believed the card was sent by?

  1. Unluckily for Jimmy, when Miss Jetson received her card, she thought it was from Adam.
  2. When Molly received her blue colored card, she told Miss Hanson and together they worked out who the card was from. It didn't occur to either of them that it was Jimmy.
  3. The girl who received the red card was convinced it came from Ethan.
  4. Neither Millie nor Miss Motson received a pink card.

    First Names: Lilly, Mille, Molly
    Surnames: Hanson, Jetson, Motson 
    Boys: Adam, Dylan, Ethan

E-mail your answer to Jack Bailey at jlbailey@wowway.com. All correct entries will be included in a drawing and one lucky entrant will receive a $25 gift certificate.

Previous puzzle –Pre-Olympic Rehearsal

Answer:
1. Wings
2. Frasier
3. Friends
4. Seinfeld
5. Home Improvement
6. Mad About You
7. The Drew Carey Show
8. The Fresh Prince of Bel-Air

 

 

 

 

 

 

 


Winner:
:
Lori Mitchell of Eclipsys Corporation won a $25 gift card to the Cheesecake Factory.

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Corporate Sponsor Program
We gratefully acknowledge the commitment of our Corporate Sponsors who assist in the funding of the Chapter's programs and activities
Presidential Level
Ernst & Young, LLP
Human Arc Corp.
KPMG
Howard, Wershbale & Co.
Platinum Club

Alta Partners LLC         
HRSI/FirstCredit International Corp
Healthcare Resolutons Svcs
Joseph R Harrison Company LPA
JP Recovery Svcs
Revenue Group
Total Practice Management
RSM McGladrey

Gold Club

Relay Health
Squire, Sanders & Dempsey LLP

Silver Club

Cirius Group, Inc.
NatCity Investments, Inc.
Receivables Outsourcing Group

Bronze Club

ARC Group Associates
BKD
Bruner Cox, LLP
Calfee, Halter & Griswold LLP
Chase
DMI Transitions
Emrhein & Associates
Fenner Corp
HMC Group
KeyBanc Capital Markets
Masters Assoc Receivables Mgmt, Inc.
NCO Financial Systems Inc.
Quadax, Inc.
Resources Global Professionals
SAKAL/CAI
UCB, Inc.
Vorys, Sater, Seymour and Pease LLP
Wise Management Services Inc.

2007-2008
HFMA Northeast Ohio
Chapter Officers

President
Charles S. Josey

President-Elect
Anna Sulewski

Vice President
Michael Manfull

Secretary
Susan R. Flaherty

Treasurer

Suzanne M. Tschetter

Chairperson

Karen Mihalik 

Chapter Coordinator
Kathleen A. Much

Board of Directors
Jack Bailey
Diane Lilko
Stephen Rybka
Claudio Zanin
Richard Jorz

Visit HFMA National at:
www.hfma.org

Visit HFMA Northeast Ohio at:
www.neohfma.org