Cleveland, Ohio (PRWEB) December 16, 2013
In an effort to maximize reimbursement for its member hospitals, The Center for Health Affairs has once again contracted with the Reimbursement Alliance (RA) Group to conduct a wage index analysis of Northeast Ohio hospitals for federal fiscal year 2015. Like the projects from the previous three years, this year’s wage index project began with site visits to member hospitals in the fall, during which the RA Group worked with reimbursement specialists from each hospital to prepare cost report data ― ensuring it is presented as advantageously as possible ― to submit to the region’s fiscal intermediary. From there, The Center’s consultants will monitor the progress of the fiscal intermediary’s review and respond to any questions that may arise.
Used by the Centers for Medicare and Medicaid Services (CMS) to account for regional differences in the cost of wages in the Medicare reimbursement formula, wage index can have a significant impact on the level of reimbursement that region receives for Medicare patients. The careful review that occurs during the wage index project can uncover adjustments that ultimately make a significant impact on reimbursement in the region. In fiscal year 2014, for instance, The Center for Health Affairs member hospitals will receive a projected $10.4 million in additional reimbursement as a result of the wage index project.
For additional information on The Center’s wage index project contact Lisa Anderson via email or at 216.255.3660 or George Jeney via email or at 216.255.3666.
The Center for Health Affairs is the leading advocate for Northeast Ohio hospitals, serving those organizations and others through a variety of advocacy and business management services. The Center also works to inform the public about issues that affect the delivery of health care. Formed by a visionary group of hospital leaders 96 years ago, The Center continues to operate on the principle that by working together hospitals can ensure the availability and accessibility of health care services. For more on The Center, go to http://www.chanet.org.