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At least 19 recordsLinked to original sources
PubMed1993

Financial audit of antitachycardia pacing for the control of recurrent supraventricular tachycardia.

OBJECTIVE: To assess the financial implications of antitachycardia pacing in patients with frequent supraventricular tachycardia. PATIENTS: Intertach pacemakers were implanted in 25 patients (mean age 47 years, five men): 22 had atrioventricular nodal reentry tachycardia. The patients had failed a mean of 4.9 (range zero to eight) drugs and had been admitted to hospital 3.7 (zero to 31) times over a symptomatic period of 13.9 years (two months to 54 years). RESULTS: The mean admission time for implantation was 2.8 (two to seven) days. One patient with Wolff-Parkinson-White syndrome subsequently underwent surgery. Infection occurred in two patients, and pain over the pacemaker required its resiting in two. Two patients have had one admission each for tachycardia. Six patients remain on anti-arrhythmic drugs. Costs were calculated including value added tax, capital charges, and allocated overheads. The cost a year before pacing was 1174 pounds including drug costs, clinic visits, and hospital admissions. The mean cost of pacemaker implantation was 3364.22 pounds, including the pacemaker and lead, admission and procedure, readmissions and first pacing check. Subsequent annual follow up cost was 73.72 pounds including annual clinic visits and drug costs. The cost of pacing is 4241 pounds whereas medical management costs 7044 pounds assuming pacemaker life of six years: with a 10 year life the cost is 4537 pounds compared with 11,740 pounds: with a 12 year life the cost is 4685 pounds compared with 14,088 pounds. CONCLUSION: The excess cost of implantation of an antitachycardia pacemaker is minimal in patients with frequent supraventricular tachycardia despite drug treatment and is justified by excellent control of symptoms and reduction of drug use and hospital admissions.

Adult↗
PubMed1991

Cutting the cost of cataract surgery--a financial audit.

We have analysed the cost of disposable equipment used during cataract surgery by eight different surgeons over a six-month period in the same hospital. By comparing the costs of single-use items used by each surgeon we highlight how significant savings can be made by change of technique (without an adverse effect on surgical outcome).

Cataract Extraction↗
PubMed1991

Clinical and financial audit of diagnostic protocols for lesions of the cerebellopontine angle.

OBJECTIVE: To assess the diagnostic efficiency and costs of protocols used for investigating patients with suspected lesions of the cerebellopontine angle. DESIGN: Prospective evaluation of tests of auditory brain stem responses and acoustic reflex thresholds, electronystagmography, and calorics. Positive test results were confirmed or refuted by high resolution computed tomography with intravenous enhancement. SETTING: Single general otolaryngology clinic in a teaching hospital. PATIENTS: 270 consecutive patients with sensorineural hearing loss requiring investigation to exclude a lesion of the cerebellopontine angle. MAIN OUTCOME MEASURES: Estimated costs of various diagnostic protocols and performance in detecting tumours of the cerebellopontine angle. RESULTS: Protocols including tests of auditory brain stem responses and acoustic reflex thresholds as sifting tests before computed tomography were clinically acceptable and presented considerable savings over the use of computed tomography in all patients (74,000 pounds or 84,000 pounds v 122,000 pounds). The use of electronystagmography and calorics could not be justified on clinical or financial grounds. CONCLUSIONS: Audiological tests of auditory brain stem responses and acoustic reflex thresholds followed by computed tomography constitute the most cost effective protocol for determining suspected lesions of the cerebellopontine angle. IMPLICATIONS: The cost effectiveness of diagnostic protocols should be evaluated throughout the health service.

Caloric Tests↗
PubMedDate not supplied

Hospital financial audit of medical equipment maintenance: a case study.

Maintenance expense is becoming an area of importance in the business of health care. Methods for identification and determination of both types and amounts of expenses have also become important. This paper is a case study of one institution's total medical equipment maintenance expense, during the 1985/86 fiscal year. During this time, the total hospital medical maintenance expense was $683,614: of which $238,008 (34.8%) was salary; $85,858 (12.6%) was parts; $77,083 (11.3%) was contracts; $48,230 (7.1%) was service; $123,572 (18.1%) was X-ray tubes; $91,260 (13.3%) was maintenance insurance; $14,479 (2.1%) was for training; $1,212 (0.2%) was for operating expenses; and $3,912 (0.6%) was the 10-year amortized test-equipment expense. The maintenance-expense/acquisition-cost ratio was 4.36%. Arguments are presented on the need to obtain expense data that have some comparative value to other institutions and on developing benchmarks to be utilized in evaluating acceptable levels of expense.

Accounting↗
PubMed1992

Cost of urology: financial audit in a clinical department.

OBJECTIVES: To cost a clinical unit over one month in 1991, to cost treatment of individual patients from audit data, and to compare this costing method with the hospital charging system. DESIGN: A financial breakdown was obtained for one month's work. Ward stay, operating time, investigations, and outpatient visits were costed and a formula (episode = days on ward+hours of operating+investigations+outpatient visits) was used to cost patient episodes from audit data. SETTING: The adult urology unit in a teaching hospital. MAIN OUTCOME MEASURES: Costs for each part of patients' treatment. RESULTS: Total cost was 147,796 pounds for 159 admissions, 738 inpatient days, 131 operations in 29 operating lists, and 615 outpatient visits. An uncomplicated transurethral prostatectomy cost 1140 pounds but complications increased this to 1500 pounds in another patient. The costs of diagnostic cystoscopy were 130 pounds in outpatients, 240 pounds in day surgery, and 430 pounds in inpatients. Hospital charges do not reflect the individual costs of treatment, charges being greater than costs for some patients and lower than costs for others. CONCLUSIONS: Clinicians can produce a financial analysis of their work and cost their patients' treatment. Audit is strongly advocated as a resource planning tool.

Adult↗
PubMed2004

An analysis of the agreement between financial data between the Medicare Cost Report and the audited hospital financial statement.

Very few studies have thoroughly examined the discrepancies between the financial information in the Medicare Cost Report (MCR) and that in the audited hospital financial statement (FS). Furthermore, this type of study has never been conducted for rural hospitals. In this policy brief, we present the findings from our study, which used statistical methods to examine the agreement between the MCR and the FS of a series of financial measures in rural hospitals. The results are expected to inform policy makers of the limitation inherent in using MCR data as the single source of data to examine the financial performance of rural hospitals.

Accounting↗
PubMed2001

The Medicare Cost Report and the limits of hospital accountability: improving financial accounting data.

Health policy makers, legislators, providers, payers, and a broad range of other players in the health care market routinely seek information on hospital financial performance. Yet the data at their disposal are limited, especially since hospitals' audited financial statements--the "gold standard" in hospital financial reporting--are not publicly available in many states. As a result, the Medicare Cost Report (MCR), filed annually by most U.S. hospitals in order to receive payment for treating Medicare patients, has become the primary public source of hospital financial information. However, financial accounting elements in the MCR are unreliable, poorly defined, and lacking in critical detail. Comparative analyses of MCRs and matched, audited financial statements reveal long-standing problems with the MCR's data, including major differences in reported profits; variations in the reporting of both revenues and expenses; an absence of relevant details, such as charity care, bad debt, operating versus nonoperating income, and affiliate transactions; an inconsistent classification of changes in net assets; and a failure to provide cash flow statements. Because of these problems, MCR financial data give only a limited and often inaccurate picture of the financial position of hospitals. Audited financial statements provide a more complete perspective, enabling analysts to address important questions left unanswered by the MCR data. Regulatory action is needed to create a national database of financial information based upon audited statements.

Accounting↗
PubMed1997

A new perspective on hospital financial ratio analysis.

Using audit financial data in a study of 2,189 not-for-profit hospitals for the period 1989-1992, six financial characteristics of performance were defined. These characteristics are profitability factor, fixed-asset efficiency, capital structure, fixed-asset age, working capital efficiency, and liquidity. The statistical output also shows the specific sets of financial ratios that can be used to measure the six characteristics of hospital performance. The results of this study can be beneficial to healthcare financial managers, hospital boards, policy groups, and other relevant entities because it affords them a clear understanding of an institution's financial performance.

Capital Financing↗
PubMedDate not supplied

Local health departments in Washington State use APEX to assess capacity.

THE ASSESSMENT PROTOCOL for EXCELLENCE in PUBLIC HEALTH process was carried out in the state of Washington to assess local health department capacity and to identify their self-perceived strengths and weaknesses. Staff from 24 of the 32 local health departments in Washington completed organizational capacity assessments. Fifty percent or more of the health departments identified the following eight indicators as strengths: legal authority, public policy and implementation, budget development, financial reporting and administration, audit, financial documentation, organization and structure of program management, and policy board procedures. Seven indicators were identified as weaknesses by 50% or more of the respondents: legal counsel, mission and role, data collection and analysis, planning and development, evaluation and assurance of community health assessment, community health assessment and planning, and community health policy. The results of the assessment highlight the traditional organizational and service delivery strengths of the local health departments and point out weaknesses in their ability to assess community health and to develop communitywide health policy.

Community Health Services↗
PubMed1998

Physician network audits can improve financial performance.

A physician network audit is one way to evaluate the strengths and weaknesses of a network's performance in five key areas: practice operations, financial management, strategy and vision, managed care readiness, and organizational governance. An objective, comprehensive audit can help identify real versus perceived problems that are troubling a network. Then steps can be taken to align incentives and improve operating results.

Community Networks↗
PubMed1995

Improvement in cost recovery at an urban level I trauma center.

With escalating health care costs and health reimbursement reorganization, the greatest danger to trauma centers will remain expensive uncompensated care. This is caused primarily by costs incurred in treating complex, life-threatening injuries and to the large population of trauma patients with no, or inadequate, means of compensation. In 1986 and 1987, this urban level I trauma center experienced an operating loss totaling $2,335,200. To attempt to reverse this expense, annual tracking of the trauma service's financial performance was begun in 1989. In addition, changes were made. Early multidisciplinary baseline assessment of each admission was instituted for financial profiling and discharge planning. Attempts were made on admission to identify health and vehicular insurance information. Processing for Medicaid and Medicare reimbursement was begun as soon as possible, and coding for diagnoses was checked by medical records personnel and the trauma nurse coordinator. If appropriate, Missouri Crime Victims Compensation was sought. Base on costs incurred in providing trauma services, as required by the state of Missouri and the American College of Surgeons, a trauma response charge was developed and instituted. Over a 5-year period, 1989 to 1993, financial audits were conducted. The cost recovery ratio (CRR) (collections/cost) was utilized as the measure of financial success. The CRR improved from 0.74 in 1989 to 0.93 in 1993, and in 2 years, 1991 and 1992, was 1.03 and 0.99. Over this period, the acuity of injury, as measured by the Injury Severity Score, remained essentially the same, but length of hospital stay decreased from 10.0 to 8.7 days. The CRR was greatest for private insurance.(ABSTRACT TRUNCATED AT 250 WORDS)

Financial Audit↗
PubMed2004

Reading and understanding employee benefit plan financial statements.

If your employee benefit plan has more than 100 participants, chances are you've had to work your way through the audited financial statements you're required to include with your Form 5500 filing. These statements contain a wealth of information about the financial health of your plan, and understanding them is an important fiduciary responsibility. To strengthen your grasp of financial statements, this article gives an overview that will make a plan's financial statements more informative, explains their basic structure and provides information on some of the more arcane aspects (such as actuarial tables). While this article focuses on Taft-Hartley (multiemployer) plans, much of it applies to other types of employee benefit plans.

Accounting↗
PubMed1994

Auditing the health care enterprise. Evaluation research can improve strategic planning and implementation in hospitals.

Financial audits that focus on the recent past have been criticized for not answering questions concerning whether or not the enterprise will survive and thrive during the next few years. Strategic management/marketing audits (SMMAs) are designed to respond to these concerns. In conducting an SMMA for a long-term care hospital, the authors found critical differences in the beliefs held by key executives and staff members regarding the strategic goals, planning, and actions of the hospital.

Economic Competition↗