Medical Building Facility Fees

Posted on March 21, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

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Surcharging Startled Patients

[By Staff Writers]skyscraper 

As all print subscribers to Healthcare Organizations [Financial Management Strategies], and regular readers of the “Medical Executive-Post” are aware, medical billing is complex enough without throwing another factor into the mix. 

Medical Facility Fees?

Increasingly, however, it seems that patients are being caught off guard by a new “facility fee” for visiting doctors who are based in a hospital-owned building. The issue is not exactly new, but it is expected to become more contentious as patients use high deductibles imposed by consumer directed health care plans [HD-HCPs]; according to a report by FireceHealthcare. 

Those facilities, like Milwaukee’s Froedtert & Community Health who charge the fees, usually post warning signs although their patients often end up arguing with insurance companies over payment.

Making the financial sting even worse, some insurance companies treat the facilities fee at the doctor’s office as the first dollar of what can be a high hospital deductible, rather than applying it to a physician deductible. 

And, the fees vary widely, from a relatively small $20 or $30 to a few hundred dollars.

Assessment

What’s even more insidious is that some hospitals are already charging patients not only for professional medical services, but also a facilities fee for physical use of the building.

Conclusion

This historical review paper provides a retrospective review of IRs and implications for modernity.

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Of Financial Footnotes and Fine-Print

Posted on March 21, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

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Financial Statements Review for Physicians

By Dr. David Edward Marcinko; MBA, CMP™

[Publisher-in-Chief]

Of course, it is important to read the fine-print and understand the footnotes when reviewing all four consolidated financial statements or studying an annual business report.  

And, these four consolidated statements are:  

 

  1. Balance sheet
  2. Net-income statement
  3. Cash Flow Statement
  4. Statement of Retained Earnings 

However, it is seldom done by the physician, financial manager or healthcare executive. Yet, the footnotes to financial statements and fine print of annual reports are often packed with meaningful information. 

Footnote Highlights 

The following are some usual footnote highlights for healthcare entities: 

  • Significant accounting policies and practices – Public healthcare companies are required to disclose the accounting policies that are most important to the portrayal of the company’s financial condition and results. These often require management’s most difficult, subjective or complex judgments.
  • Income taxes – The footnotes provide detailed information about the healthcare company’s current and deferred income taxes. The information is broken down by level – federal, state, local and/or foreign, and the main items that affect the company’s effective tax rate are described.
  • Pension plans and other retirement programs – The footnotes discuss the healthcare company’s pension plans and other retirement or post-employment benefit programs. The notes contain specific information about the assets and costs of these programs, and indicate whether, and by how much, the plans are over-or-under funded.
  • Stock options – The notes also contain information about stock options granted to officers and employees, including the method of accounting.

Conclusion

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