OpenPlacement Community > OpenPlacement Blog
November 5th, 2012 | 0
According to researchers at Mount Sinai School of Medicine, health-care costs during the last 5 years of life exceed patient’s total assets for 25 percent of the Medicare population. This is because although Medicare provides a significant amount of health care coverage, it does not cover co-payments, deductibles, homecare services, or non-rehabilitative nursing home care.
This shows just how important it is to ensure that patients make full use of their Medicare and Medicaid covered services. The care coverage in Skilled Nursing Facilities (SNF’s) varies between Medicare, Medicaid and private insurance. The task of sorting through various websites and insurance paperwork to figure out your eligibility for these services can be a challenging task.Continue Reading
November 2nd, 2012 | 1
This post originally appeared here: http://online.wsj.com/article/SB10001424052970203937004578079184108523030.html?mod=googlenews_wsj#project=INVESTOR1027&articleTabs=article and was published by The Wall Street Journal.
Andee St. John is searching for an assisted-living facility near Columbia, S.C., for her 69-year-old mother, who was hospitalized recently after several falls. But finding the place with the right combination of price, amenities and services has been difficult.
So far, Ms. St. John has consulted with a financial adviser, a geriatric social worker and an elder-law attorney as part of her research.
“It’s been very eye-opening,” Ms. St. John says. “You don’t just pay one fee a month for assisted living. There are all these different add-ons.”
A growing number of families are wrestling with the same dilemma: rising costs for long-term care and a mind-boggling array of options.
October 26th, 2012 | 0
This post originally appeared here: http://www.healthcarefinancenews.com/news/4-discharge-tactics-reduce-senior-readmissions and was published by Healthcare Finance News.
In light of the recent Readmissions Reduction Program under the Affordable Care Act, numerous hospitals and medical industry experts are examining new approaches that will decrease the rate of hospital readmissions.
“The Centers for Medicare and Medicaid Services estimates $15 billion is spent annually on readmissions for Medicare patients, with $12 billion of that amount being preventable,” said Jeff Huber, president and COO of Home Instead Senior Care, a provider of non-medical in-home care services for seniors. “This is an issue of significant concern to everyone in the healthcare field. There are a number of simple and cost efficient best practices that healthcare organizations can easily implement as they work to decrease the number of unnecessary senior readmissions.”Continue Reading
October 21st, 2012 | 1
Social Security retirement benefits are an insurance program. When the program began in 1935, it was designed to keep older Americans out of poverty when they were no longer able to work. Like insurance, when you want to start collecting your benefits, you file a claim. Remember that you are dealing with a huge bureaucracy, the Social Security Administration, and while it is very efficient, your claim process will be much smoother if you plan ahead and follow these steps.
- Determine the right age for you to claim your benefits. The right age for you depends on your other sources of income and financial needs. You can claim reduced benefits at age 62, even if you are still working. Full benefits are available at “full retirement age”, which is 65 if you were born in 1937 or earlier, or 67 if you were born after 1959. Between 65 and 67, the full retirement age is staggered based on the year you were born. For example, for those born in 1958, full retirement age is 66 and 8 months. You can delay your claim until age 70, resulting in a larger monthly payment.
October 18th, 2012 | 0
This post originally appeared here: http://www.californiahealthline.org/capitol-desk/2012/10/long-term-care-demand-expected-to-soar.aspx#ixzz29ZXR5BCT and was published by California Healthline.
California faces soaring demand for long-term care services, with a senior population expected to surge 90% by 2032, according to a new study by AARP.
The number of seniors age 85 and over — those most likely to need long-term care — will grow by 78%, significantly faster than the U.S. average, the report said.Continue Reading
Hospital Admins Must Answer 5 Key Questions To Shape A Successful Post-Acute Care Strategy M.L. Sutton
October 13th, 2012 | 0
This post originally appeared here: http://medcitynews.com/2012/10/hospital-admins-must-answer-5-key-questions-to-shape-a-successful-post-acute-care-strategy/ and was published by MedCity News.
The Patient Protection and Affordable Care Act has fundamentally changed the healthcare marketplace and permanently altered the role of post-acute programs in the strategic response of health systems.
This is a challenge for many hospital systems as they have under invested in management talent and the infrastructure of their post-acute capabilities. As payment models evolve and providers become more accountable for patient’s costs, care will be driven to the lowest cost settings. A hospital’s post-acute capabilities could be an engine that drives profitability or the burden that causes missed opportunity.Continue Reading
REMINDER: Medicare To Penalize 2,211 Hospitals For Excess Readmissions [STARTING TODAY 10/1/12] M.L. Sutton
October 1st, 2012 | 0
This post originally appeared here: http://www.kaiserhealthnews.org/Stories/2012/August/13/medicare-hospitals-readmissions-penalties.aspx and was published by Kaiser Health News.
More than 2,000 hospitals — including some nationally recognized ones — will be penalized by the government starting in October because many of their patients are readmitted soon after discharge, new records show.
Together, these hospitals will forfeit about $280 million in Medicare funds over the next year as the government begins a wide-ranging push to start paying health care providers based on the quality of care they provide.
With nearly one in five Medicare patients returning to the hospital within a month of discharge, the government considers readmissions a prime symptom of an overly expensive and uncoordinated health system. Hospitals have had little financial incentive to ensure patients get the care they need once they leave, and in fact they benefit financially when patients don’t recover and return for more treatment.Continue Reading
September 27th, 2012 | 2
This post originally appeared here: http://www.foxbusiness.com/personal-finance/2012/09/19/assisted-living-not-your-grandma-retirement/ and was published by FoxBusiness.com.
Trends in Assisted Living
Hospital curtains and cafeteria food? Not anymore.
Assisted living facilities have come a long way from the clinical institutions of old, offering residents an ever-expanding menu of amenities that reflect the diversity of baby boomers themselves.
“The population is aging, and more consumers can demand more choices,” says Andrew Carle, founding director of the Senior Housing Administration program at George Mason University, which teaches students to manage senior living properties.Continue Reading
September 20th, 2012 | 1
- Administration on Aging
- American Geriatrics Society
- American Health Care Association
- American Occupational Therapy Association
- American Society of Consultant Pharmacists
- Assistant Secretary for Planning and Evaluation, U.S. Department of Health and Human Services
- Centers for Medicare and Medicaid Services
- Eldercare Locator, Administration on Aging
September 14th, 2012 | 0
Social Security marked its 76th anniversary on August 14, 2011. The Social Security program was established to provide the base of financial protection for working people and their families when earnings are lost due to retirement, disability, or death. In addition to the worker’s benefit, Social Security benefits may be paid to the spouses and children of workers. Benefits are an earned right, and they maintain their value with automatic annual cost-of-living increases.Continue Reading
We do not endorse or guarantee the completeness, accuracy or reliability of any answers, messages, blog posts or other material posted in the Community, and we do not endorse any opinions they express.