HFMA Conference News

Healthcare Financial Management Association ANI Recap
By Lori Brocato

A collective sigh of relief was palpable at the recent Healthcare Financial Management Association ANI convention when the Supreme Court delayed its ruling on the Affordable Care Act. I believe the entire mood of the conference would have been swayed had an announcement been made on opening day as expected. With no announcement to cloud conversations or thwart speakers, conference attendees focused squarely on the most important tasks at hand: maintaining financial viability in a rapidly changing healthcare industry. And at the top of their list was ICD-10.

Providers and vendors teamed to explain the financial impact of ICD-10 and progress made thus far. When asked how many finance executives had already established an ICD-10 budget, few hands went up. Even fewer had conducted a reimbursement financial impact or trained an ICD-10 specialist within their ranks. Despite the slow progress, most attendees were extremely eager to learn more about the shift to ICD-10. Vendor booths that presented ICD-10 services or technology solutions were buzzing.

The urgent need for more comprehensive physician documentation was also widely discussed as the foundation for optimal reimbursement in ICD-10, reduced denials, and fewer recovery audits. The expansion of recovery audits to other payers, Medicaid, and prepayment was a key area of concern for HFMA attendees—and better documentation was noted as a way to prevent them. HIM professionals should find their finance executives more receptive to clinical documentation improvement program requests in coming months.

Additionally, the move to a value-based business model, regardless of the Supreme Court ruling, was top of mind. The exhibit hall was packed with curious attendees wanting to learn how new software applications and technological advances could help them make the switch while also reducing costs and making the most of their resources. “Consolidation,” “centralization,” and “coopetition” (cooperating with competitors) were common buzzwords.

Finally, keynote speakers stressed the need for effective leadership and delivering value. With so much ahead of them, conference attendees seemed ready and eager to address the challenge. The conference slogan, “Today, Do the Impossible. Tomorrow, Do it Again,” aptly describes the 2012 HFMA ANI meeting.

Everyone in the healthcare industry is facing an enormous amount of change. Everyone is being hit with the same issues. This year’s HFMA ANI was about taking action and meeting challenges head-on. As Captain Picard often said to Number One, “Make it so.”

— Lori Brocato is audit product manager at HealthPort.