PORTLAND, Ore., April 23, 2014 /PRNewswire/ -- HFS Consultants (HFS), a healthcare consulting firm, announces the results of its 2013 Wage Index Improvement Strategy Services (WIISS) for Oregon hospitals in the Portland, Salem, and Corvallis Core Based Statistical Areas (CBSA).
HFS's findings resulted in an $18.0 million benefit for hospitals in these areas, exceeding the estimated benefit by $13.0 million. HFS generated a $15.6 million benefit for Portland, Eugene, and Medford hospitals in 2012, totaling nearly $34 million in benefit to hospitals across Oregon over the two-year project period.
The healthcare consulting firm was contracted by Apprise Health Insights to conduct the regional Medicare wage index project. The WIISS improves the accuracy and completeness of the filed data that the Centers for Medicare and Medicaid Services (CMS) uses to adjust the standardized payment for geographic area differences in hospital wages under the Medicare Prospective Payment System (PPS).
"We are nationally recognized Medicare wage index experts and are able to deliver significantly improved reimbursement to hospitals by increasing the accuracy and completeness of their wage reporting," says Trahan Whitten, CEO of HFS Consultants. "Since 2009, our work with many different geographies has improved reimbursement to our clients by over $400 million, generating an average return on investment of 30 to 1."
The company's website has a secure wage index client portal, http://bpi.hfsconsultants.com/WageIndexClientPortal/index.php, that provides updates on changing regulations and presents detailed instructions and tips for reporting wage index information on the Medicare cost report.
About HFS Consultants
HFS Consultants, in business since 1991, offers a broad range of services focused on the needs of hospitals and other healthcare facilities in the areas of financial, strategic, executive search and interim placement, and clinical and management operations. It specializes in assisting healthcare facilities to position themselves for organizational and competitive change and growth.
For more information, visit http://www.hfsconsultants.com, or call the firm's Oakland office at 510-768-0066, or its Portland, Oregon office at 503-765-5442.
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SOURCE HFS Consultants