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March 2014

Philanthropist and Orlando Health Foundation Board Member Pledges $300,000 Gift


Bryce West, a member of the Orlando Health Foundation’s Southwest Community Board, has recently announced a $300,000 pledge to support Healing Arts at Orlando Health. His philanthropic gift will provide the resources needed to develop the Music Therapy program beyond what is currently offered for children at Arnold Palmer Medical Center, bringing it to patients at Orlando Health’s adult hospital facilities as well.


West’s passion for the arts is well known in the Central Florida community. In addition to serving on the boards for the Orlando Philharmonic, the Dr. Phillips Performing Arts Center and the Orlando Shakespeare Theater, he has also made significant philanthropic gifts in support of these two organizations through his Bryce L. West Foundation, Inc.



MedMal Direct Announces Endorsement by Physicians' Alliance of America


Jacksonville-based MedMal Direct Insurance Company (MedMal Direct) announces its recent


endorsement by Physicians' Alliance of America.


Physicians' Alliance of America ("PAA") is a national healthcare group purchasing organization dedicated to helping medical practices save money and improve their bottom line. PAA was founded in 1992 by a handful of physicians worried about the rising costs of operating a medical practice


and has grown to approximately 35,000 physician members.


As one of the fastest growing medical professional liability insurance companies in the nation, MedMal Direct is the only medical malpractice insurance carrier to exclusively offer its policies direct to physicians.



Fifth Third Launches Campaign to Improve Lives


For World Cancer day Fifth Third Bank announced it is raising money and awareness for cancer as part of the “Pay to the Order of” campaign. The Bank is committed to improving the lives and well-being of local communities, and they’ve found a unique way to do that with a checking account.


The campaign launched on Monday, Jan. 27th (through March 31st) and is leveraging account openings to drive donations for cancer research. For each new customer who opens a checking account with direct deposit and makes three online bill payments, Fifth Third will give $150 to the customer and donate $150 to Stand Up To Cancer (SU2C), a groundbreaking initiative that supports scientific collaboration to accelerate innovative cancer research and bring new therapies to patients quickly. (A backgrounder is attached for your reference.)


Fifth Third began working with Stand Up to Cancer (SU2C) in 2013, contributing more than $534,000 to the initiative for the year. We’re really hoping you’ll help spread the word ... and your readers can help us raise even more funds in 2014.



Fifth Third Bank Unveils ‘Pay to the Order of’ Campaign Driving Donations for Cancer Research


Can a checking account help fight cancer? The “Pay to the Order of” campaign launched by Fifth Third Bank and agency of record Leo Burnett answers that question by using account openings to drive donations for cancer research. For each new customer who opens a checking account with direct deposit and makes three online bill payments, Fifth Third will give $150 to the customer and donate $150 to Stand Up To Cancer (SU2C).


SU2C, a program of the Entertainment Industry Foundation and a 501(c )(3) charitable organization, is a groundbreaking initiative that supports scientific collaboration to accelerate innovative cancer research and bring new therapies to patients quickly. Fifth Third began working with SU2C in 2013 when the Bank launched the Fifth Third SU2C credit and debit cards, which direct donations to SU2C for every qualifying purchase made using those cards. Fifth Third Bank is the only card issuer to offer SU2C payment cards and contributed more than $534,000 to SU2C in 2013.


The campaign spans radio, in-branch, online, out-of-home and social media as well as TV.


Fifth Third is asking everyone who has been impacted by cancer to share their photos and stories by using the hashtag #PayToTheOrderOf via Twitter, Vine, Instagram and Facebook. Some stories will be featured on an interactive gallery at 53.com/SU2C.


For additional information visit www.53.com/SU2C.



St. Cloud Regional Medical Center Offers Help Trying to Navigate the Online Health Insurance Marketplace


For individuals who have had issues trying to sign up for health insurance on the online Marketplace, help is here, thanks to St. Cloud Regional Medical Center.


The hospital invites anyone needing assistance to call the free help line at 407-498-3737, where a Certified Application Counselor can help individuals navigate the insurance exchanges and selection process, enroll in the program and find a physician.


Depending on household income, some individuals may qualify for subsidies toward the cost of the premium. Also, under this law, individuals who don’t have insurance by the deadline may be subject to penalties.


The deadline for enrollment is March 31, 2014. Individuals who signed up before December 23, 2013, may have received coverage as early as January 1, 2014. Once coverage begins, individuals can schedule well visits with their new primary care physician, pediatrician, internal medicine specialist or family doctor.


For more information, contact one of our Certified Application Counselors at 407-498-3737



Central Florida Regional Hospital Officially Pursuing Hospital In Oviedo


Central Florida Regional Hospital is actively pursuing building an acute care hospital in Oviedo. Operating under the legal name Oviedo Medical Center LLC, the organization submitted a letter of intent to the State of Florida on Friday, January 31, informing them of plans to apply for a Certificate of Need.


Central Florida Regional Hospital, based in Sanford, opened Oviedo ER, a free-standing emergency department, in November on 48 acres of land at the intersection of Red Bug Lake Road and Broadway Street (S.R. 426) adjacent to S.R. 417. Since opening, Oviedo ER has stayed busy caring for patients from east Seminole County and surrounding areas, which hospital officials believe is a strong indication of the need for more healthcare services in Oviedo.


Oviedo Mayor Dominic Persampiere stated that bringing a hospital to the residents of Oviedo and eastern Seminole County has long been a priority for city leaders.


The support for a hospital in Oviedo extends beyond the city limits. Seminole County Commission Chairman Bob Dallari said a hospital in east Seminole County would benefit the entire region.



ICD-10 Cost Estimates Increased for Most Physicians


The mandated implementation of the ICD-10 code set will be dramatically more expensive for most physician practices than previously estimated, according to an updated cost studyinitiated by the American Medical Association (AMA) and conducted by Nachimson Advisors.


The 2014 study found that in some cases, the estimated ICD-10 implementation costs are nearly three times what had been predicted by a landmark 2008 study also produced by Nachimson Advisors.


In the AMA’s continuing effort to urge the U.S. Department of Health and Human Services to make good on its commitment to improve the regulatory climate for physicians, the AMA sent a letter to Secretary Kathleen Sebelius asking her to again reconsider the ICD-10 mandate.


In 2008 the predicted cost to implement ICD-10 ranged from $83,290 for a small practice, $285,195 for a medium practice and $2,728,780 for a large practice. Based on new information, the 2014 study found the following cost ranges for each practice size based on variable factors such as specialty, vendor and software.


Small practice: $56,639 - $226,105


Medium practice: $213,364 - $824,735


Large practice: $2,017,151 - $8,018,364


Two-thirds of physician practices are projected to fall into the upper range of current cost estimates that are considerably higher than the 2008 estimates. These practices are expected to incur major costs associated with software upgrades to accommodate the transition to ICD-10.


In addition to software upgrades, the total costs include the expense of training, practice assessments, testing, payment disruptions and productivity loss for physicians.


The 2014 estimates include much higher figures due in part to significant post-implementation costs, including the need for testing and the potential risk of payment disruption. The Centers for Medicare & Medicaid Services has estimated that claims denial rates could increase 100 to 200 percent in the early stages of coding with ICD-10.


Costs are not the only challenge facing physicians in implementing ICD-10. Data shows that software vendor readiness for the new code set is significantly lagging. Few practices have therefore been able to conduct appropriate testing or implement workflow changes to ensure the new codes are working as intended.


The AMA will continue to convey the significant financial and administrative burden that the ICD-10 mandate places on physicians to policymakers in Washington. In the meantime, the AMA is devoting considerable effort to educational programs, resources and guidance that will help physicians prepare for what is sure to be a very disruptive change.



 
 
 
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