Hospitals will lose up to 1 percent of the next year's Medicare payments if they readmitted too high a proportion of their patients from 2008 to 2011. While 26 Colorado hospitals escaped the sanction, a Cheyenne Wells hospital will lose 1 percent, and five Centura hospitals are being fined up to a quarter of 1 percent of Medicare bills.
Exempla Lutheran Medical Center took a 0.42-percent penalty, according to a list compiled by Kaiser Health News. The penalties were launched by federal Medicare officials as part of national health-care reform Oct. 1.
Though a small portion of future bills, the penalties add up as Medicare payments often constitute half of a hospital's overall revenue. On a $10,000 inpatient bill, a 1 percent penalty would cost the hospital $100 of the Medicare reimbursement.
Centura said the penalties at its hospitals would cost the system about $250,000 in the next year, out of $2.7 billion in revenue. Chief financial officer Dan Enderson said the hospitals take the penalties seriously.
Read more of Michael Booth's article in the Denver Post.
Read more: Colorado hospitals face Medicare readmission penalties - The Denver Post http://www.denverpost.com/news/ci_21819993/colorado-hospitals-face-medicare-readmission-penalties#ixzz29yP3tGLD
(Copyright 2012 The Denver Post)