The Centers for Medicare & Medicaid Services (CMS) today announced that $371.5 million in improper Medicare payments has been collected from or repaid to health care providers and suppliers as part of a demonstration program using recovery audit contractors (RACs) in California, Florida and New York in 2007. Nearly $440 million has been collected since the program began in 2005.
“We need to ensure accurate payments for services to Medicare beneficiaries and by taking this important step, people with Medicare can be assured they are being charged correctly for their share of their health care services,” Acting CMS Administrator Kerry Weems said. “The RAC demonstration program has proven to be successful in returning overpayments to the Trust Fund and identifying ways to prevent future improper payments. We will use the lessons we learned from the demonstration program to help us implement the national RAC program next year.”
For full press release click on Link:
http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2943&intNumPerPage=10&checkDate=&checkKey=&srchType=1&numDays=3500&srchOpt=0&srchData=&srchOpt=0&srchData=&keywordType=All&chkNewsType=1%2C+2%2C+3%2C+4%2C+5&intPage=&showAll=&pYear=&year=&desc=&cboOrder=date
Tuesday, March 11, 2008
CMS: GROWTH IN NATIONAL HEALTH EXPENDITURES PROJECTED TO REMAIN STEADY THROUGH 2017
HEALTH SPENDING GROWTH EXPECTED TO CONTINUE TO OUTPACE ECONOMIC GROWTH AND GROWTH IN GENERAL INFLATION
Growth in health care spending in the United States is projected to be 6.7 percent in 2007, according to a report issued today by the Centers for Medicare and Medicaid Services (CMS). Average annual growth is expected to remain near that rate through 2017, the report said.
The analysis was prepared by CMS’s Office of the Actuary and published online by the journal Health Affairs. Over the full projection period (2007-2017), annual growth in health spending is anticipated to be higher than annual growth in both the overall economy (4.9 percent) and in general inflation (2.4 percent).
As a percentage of gross domestic product, known as GDP, health care spending is projected to increase to 16.3 percent in 2007 from 16.0 percent in 2006. By the end of the projection period, health care spending in the United States is expected to reach just over $4.3 trillion and comprise 19.5 percent of GDP.
For full press release from CMS Office of Public Affairs, go to:
http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2935&intNumPerPage=10&checkDate=&checkKey=&srchType=1&numDays=3500&srchOpt=0&srchData=&srchOpt=0&srchData=&keywordType=All&chkNewsType=1%2C+2%2C+3%2C+4%2C+5&intPage=&showAll=&pYear=&year=&desc=&cboOrder=date
Link provided by Healthcare Collateral Consulting, LLC
Growth in health care spending in the United States is projected to be 6.7 percent in 2007, according to a report issued today by the Centers for Medicare and Medicaid Services (CMS). Average annual growth is expected to remain near that rate through 2017, the report said.
The analysis was prepared by CMS’s Office of the Actuary and published online by the journal Health Affairs. Over the full projection period (2007-2017), annual growth in health spending is anticipated to be higher than annual growth in both the overall economy (4.9 percent) and in general inflation (2.4 percent).
As a percentage of gross domestic product, known as GDP, health care spending is projected to increase to 16.3 percent in 2007 from 16.0 percent in 2006. By the end of the projection period, health care spending in the United States is expected to reach just over $4.3 trillion and comprise 19.5 percent of GDP.
For full press release from CMS Office of Public Affairs, go to:
http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2935&intNumPerPage=10&checkDate=&checkKey=&srchType=1&numDays=3500&srchOpt=0&srchData=&srchOpt=0&srchData=&keywordType=All&chkNewsType=1%2C+2%2C+3%2C+4%2C+5&intPage=&showAll=&pYear=&year=&desc=&cboOrder=date
Link provided by Healthcare Collateral Consulting, LLC
HOME HEALTH AND INFUSION THERAPY SECTORS SET TRANSACTION VOL UME RECORDS IN 2007
TOTAL TRANSACTION VOLUME KEEPS PACE WITH 2006
PITTSBURGH, PA, February 28, 2008 --The Braff Group (TBG), a leading middle market merger and acquisition firm that specializes in the home health care, hospice, infusion therapy, specialty pharmacy, health care staffing, and home medical equipment sectors, released its year-end 2007 merger and acquisition transaction trend report today. Based upon preliminary figures, there were 225 transactions announced and/or completed in 2007, slightly down from the 227 deals recorded last year.
The two break-out sectors of the year were home health and home infusion therapy.
For the first time since 2001, when The Braff Group began tracking health care service merger and acquisition activity, a sector exceeded 100 transactions for the year as the home health industry alone accounted for a record 107 deals, up nearly 14% from the previous record of 94 posted in 2006. Moreover, buyers’ enthusiasm for the sector has not dampened, even in the face of prospective payment system reform and payment reductions attributable to reimbursement “creep.” Accordingly, “valuations for the sector not only held up in 2007, but also ticked upwards, particularly for the most attractive, sizeable, Medicare focused platform-type acquisition targets,” commented Steven Braff, TBG Managing Director for home health and hospice. “That said, after a seven year run of relative reimbursement stability since the prospective payment system was introduced, we expect that this first wave of change and cuts will encourage more sellers to test the market, setting the stage for what we anticipate to be another robust year in home health mergers and
acquisitions.”
In terms of year-over-year deal volume growth, infusion therapy led all sectors with a surge of nearly 32%, posting a record 25 transactions in 2007 versus 19 in 2006. Also noteworthy is that in terms of the largest deals of the year, while no infusion transactions cracked the top 10 in 2006, there were 4 such deals in 2007, led by Walgreens $850 million acquisition of Option Care. “The breadth, depth, and appetite of infusion therapy buyers – from strategic players, to private equity groups, to other ancillary home care providers – for acquisition candidates both large and small, has arguably never been greater,” commented Chuck Gaetano, TBG Managing Director for home infusion therapy and specialty pharmacy. “And with 2008 getting off to a roaring start with the blockbuster acquisition of Critical Homecare Solutions (CHS) by MBF Acquisition Corp, a special purpose acquisition company (SPAC) that effectively transforms CHS into a publicly traded company, we expect no let up in acquisition momentum or enthusiasm in the coming year.”
Link:
http://www.thebraffgroup.com/news/pdfs/Transaction_Volume_Q407.pdf
PITTSBURGH, PA, February 28, 2008 --The Braff Group (TBG), a leading middle market merger and acquisition firm that specializes in the home health care, hospice, infusion therapy, specialty pharmacy, health care staffing, and home medical equipment sectors, released its year-end 2007 merger and acquisition transaction trend report today. Based upon preliminary figures, there were 225 transactions announced and/or completed in 2007, slightly down from the 227 deals recorded last year.
The two break-out sectors of the year were home health and home infusion therapy.
For the first time since 2001, when The Braff Group began tracking health care service merger and acquisition activity, a sector exceeded 100 transactions for the year as the home health industry alone accounted for a record 107 deals, up nearly 14% from the previous record of 94 posted in 2006. Moreover, buyers’ enthusiasm for the sector has not dampened, even in the face of prospective payment system reform and payment reductions attributable to reimbursement “creep.” Accordingly, “valuations for the sector not only held up in 2007, but also ticked upwards, particularly for the most attractive, sizeable, Medicare focused platform-type acquisition targets,” commented Steven Braff, TBG Managing Director for home health and hospice. “That said, after a seven year run of relative reimbursement stability since the prospective payment system was introduced, we expect that this first wave of change and cuts will encourage more sellers to test the market, setting the stage for what we anticipate to be another robust year in home health mergers and
acquisitions.”
In terms of year-over-year deal volume growth, infusion therapy led all sectors with a surge of nearly 32%, posting a record 25 transactions in 2007 versus 19 in 2006. Also noteworthy is that in terms of the largest deals of the year, while no infusion transactions cracked the top 10 in 2006, there were 4 such deals in 2007, led by Walgreens $850 million acquisition of Option Care. “The breadth, depth, and appetite of infusion therapy buyers – from strategic players, to private equity groups, to other ancillary home care providers – for acquisition candidates both large and small, has arguably never been greater,” commented Chuck Gaetano, TBG Managing Director for home infusion therapy and specialty pharmacy. “And with 2008 getting off to a roaring start with the blockbuster acquisition of Critical Homecare Solutions (CHS) by MBF Acquisition Corp, a special purpose acquisition company (SPAC) that effectively transforms CHS into a publicly traded company, we expect no let up in acquisition momentum or enthusiasm in the coming year.”
Link:
http://www.thebraffgroup.com/news/pdfs/Transaction_Volume_Q407.pdf
Sunday, March 2, 2008
Healthcare Collateral Consulting, LLC - "An Innovative Outsourcing Strategy for Healthcare Lenders and Investors"
Healthcare Collateral Consulting, LLC (HCC) provides lenders in Healthcare and Life Sciences with additional insight into healthcare trade risks that cannot be provided by most other consulting or audit firms.
Healthcare Collateral Consulting, LLC offers innovative cost-saving services including field examinations, credit, underwriting, risk analysis, account management, and executive recruiting for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management.
Healthcare Collateral Consulting, LLC has mission to provide superior, cost effective, value added services to our clients. HCC is committed to establishing strong relationships with its clients and providing inventive outsourcing solutions with the highest quality of service.
"Many of the players in healthcare lending are focusing on booking transactions without adequate back-office and due diligence support, which has created a void in the marketplace for the type of account management and due diligence services we offer," said David J. Lacasse, Managing Director at HCC. "HCC's services are designed to provide a customized solution from healthcare finance professionals ".
HCC's services are designed to provide a customized solution and include:
About HCC's Management:
Managing Director and President - David J. Lacasse has more than 11 years of experience in asset based lending, healthcare finance, and medical device manufacturing, most recently managing the loan portfolio for a prior healthcare finance business since 2004.
Look forward to speaking with you,
David J. Lacasse, Managing Director
Healthcare Collateral Consulting, LLC
djlacasse@gmail.com
Healthcare Collateral Consulting, LLC offers innovative cost-saving services including field examinations, credit, underwriting, risk analysis, account management, and executive recruiting for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management.
Healthcare Collateral Consulting, LLC has mission to provide superior, cost effective, value added services to our clients. HCC is committed to establishing strong relationships with its clients and providing inventive outsourcing solutions with the highest quality of service.
"Many of the players in healthcare lending are focusing on booking transactions without adequate back-office and due diligence support, which has created a void in the marketplace for the type of account management and due diligence services we offer," said David J. Lacasse, Managing Director at HCC. "HCC's services are designed to provide a customized solution from healthcare finance professionals ".
HCC's services are designed to provide a customized solution and include:
- Remote Performance & Loan Compliance Reviews
- Underwriting/Due Diligence
- Collateral Exams
- Remote Financial Assessments
- Scheduling Engagements & Staffing
- UCC Research
- Monitoring Healthcare Facility Survey Results
- Best Practices Analysis
- Revolving Line of Credit Simulation
- Inventory Analysis
- Hard-asset Verifications
- Special Assets Divestitures
About HCC's Management:
Managing Director and President - David J. Lacasse has more than 11 years of experience in asset based lending, healthcare finance, and medical device manufacturing, most recently managing the loan portfolio for a prior healthcare finance business since 2004.
Look forward to speaking with you,
David J. Lacasse, Managing Director
Healthcare Collateral Consulting, LLC
djlacasse@gmail.com
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