Posts Tagged ‘Hospitals

15
May
15

$7 Billion In Savings?! Thanks, ObamaCare

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Tara Culp-Ressler: Thanks To Obamacare, Hospitals Saved More Than $7 Billion Last Year

According to a new report from the Department of Health and Human Services (HHS), hospitals saved at least $7.4 billion last year, thanks in large part to reforms under Obamacare. The savings reflect a reduction in the so-called “uncompensated care” that hospitals provide to uninsured Americans, and are even greater than HHS officials predicted they would be at the beginning of this year. Since people without insurance typically don’t have any means to cover their medical bills, the cost of their treatment ends up falling on the hospital itself. Therefore, as more people gain coverage, it become less expensive for hospitals to care for their patients.

More than 16 million previously uninsured Americans have gotten covered under Obamacare, contributing to the biggest drop in the national uninsurance rate over the past four decades. The savings have been most pronounced in the states that agreed to accept Obamacare’s optional Medicaid expansion, which seeks to extend public insurance to additional low-income people. Nearly 70 percent of the savings documented in the HHS report — a total of $5 billion — occurred in the 29 states that have expanded Medicaid. And, if every state had agreed to add more people to their Medicaid rolls, their hospitals could have saved an extra $1.4 billion.

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11
Mar
15

Fewer Uninsured. Hospital Profits Soaring. Thanks, ObamaCare

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Bruce Japsen: Hospital Profits Soar As Obamacare Prescribes More Paying Patients

Hospital operators continue to see profits and revenue not seen in a decade thanks to the Affordable Care Act and related efforts to sign up uninsured patients to coverage so facilities can reduce unpaid medical bills. Large hospital operators HCA Holdings HCA +2.78% (HCA), Tenet Healthcare THC +2.5% (THC) and Community Health Systems (CYH) in the last month issued robust 2014 earnings, revenues and large declines in uncompensated care costs, a key measure of expenses.

“We reported Tenet’s strongest quarterly EBITDA in more than 10 years,” Tenet chief executive officer Trevor Fetter boasted last week of a key earnings acronym in the hospital chain’s 2014 fourth quarter. Hospital operators are reporting more paying patients and fewer uninsured, which means far fewer unpaid medical bills. “For the last four quarters, the decline in self-pay admits and adjusted admits and the increase in Medicaid in expansion states have grown quarter over quarter,” Community Health CFO Larry Cash said.

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09
Oct
14

Hospitals Will Save $5.7B?!?! Thanks, ObamaCare

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HHS.Gov: New Report Projects A $5.7 Billion Drop In Hospitals’ Uncompensated Care Costs Because Of The Affordable Care Act

A report released today by the Department of Health and Human Services projects that hospitals will save $5.7 billion this year in uncompensated care costs because of the Affordable Care Act, with states that have expanded Medicaid seeing about 74 percent of the total savings nationally compared to states that have not expanded Medicaid. For over a decade prior to the Affordable Care Act, the percentage of the American population that was uninsured had been growing steadily. But with the significant expansion of coverage under the health care law through the Health Insurance Marketplace and Medicaid, the uninsurance rate is at historic lows.

As a result, the volume of uncompensated care provided in hospitals and emergency departments has fallen substantially in the last year, particularly in Medicaid expansion states. Projections from today’s report suggest that hospitals in states that have expanded Medicaid under the Affordable Care Act will see greater savings than hospitals in states that have not expanded Medicaid. Hospitals in states that have expanded Medicaid are projected to save up to $4.2 billion, which makes up about 74 percent of the total savings nationally this year. Hospitals in states that have opted not to expand Medicaid are projected to save up to $1.5 billion this year, and which is only 26 percent of the total savings nationally.

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21
May
14

The Commander-In-Chief Speaks

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President Barack Obama speaks in the Brady Press Briefing Room of the White House following his meeting with Veterans Affairs Secretary Eric Shinseki. The White House moved Wednesday to address the growing furor over allegations of misconduct at the Department of Veterans Affairs, summoning VA Secretary Eric Shinseki to an Oval Office meeting, hours before the House was scheduled to vote on a bill that would grant the secretary more authority to fire or demote senior executives.

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NPR: Obama: People ‘Will Be Held Accountable’ For Veterans Affairs Problems

Anybody found to have manipulated or falsified Veterans Affairs records “will be held accountable,” President Obama said Wednesday. The president condemned the reported widespread problems at the VA, defending Secretary of Veterans Affairs Eric Shinseki. Obama spoke after he and Shinseki met in the Oval Office Wednesday morning with White House deputy chief of staff Rob Nabors, who since last week has been detailed to work with the VA. Neither of those men attended the president’s news conference. Speaking about reports of long wait times — and efforts to cover up the delays — Obama said that if they’re proven true, the behavior is “dishonorable” and “disgraceful.” “I will not stand for it,” Obama said. “None of us should.”

The president said that Nabors is heading to Phoenix today to look into reports that a facility there had produced misleading statistics about veteran care. Obama mentioned accountability several times in his prepared remarks; he also noted that some employees had already been put on administrative leave. He said that his administration will continue “bringing the VA into the 21st century – which is not an easy task.” Obama also defended Shinseki, saying, “No one cares more about our veterans.” But Obama added that he told Shinseki today that he expects accountability and improvement in the full report on the VA’s problems.

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