The Commonwealth Healthcare Corp. projects nearly $27 million in reimbursements from both Medicare and Medicaid programs this fiscal year and the next, based on budget documents the corporation turned in to the Office of Management and Budget.<\/p>\n
The corporation specifically identified $15.906 million and $10.688 million in projected revenue from Medicare and Medicaid reimbursements in fiscal years 2014 and 2015, respectively.<\/p>\n
Compared to the actual reimbursements realized in previous fiscal years, current projections for fiscal years 2014 and 2015 for both programs reflect a huge jump.<\/p>\n
Records show that the corporation got a total of $2.953 million from Medicare in fiscal year 2012, and $9.067 million from Medicaid during the same period. <\/p>\n
In fiscal year 2013, Medicare reimbursements amounted to $$8.391 million, while Medicaid funds totaled $10.116 million.<\/p>\n
Medicare is a federal program that provides health coverage if you are 65 or older or have a severe disability, no matter your income. Medicaid is a state and federal program that provides health coverage if you have a very low income. <\/p>\n
CHCC receives reimbursement from these two programs for providing treatment and healthcare services for both programs\u2019 clients in the CNMI.<\/p>\n
CHCC is asking for a $41.5 million operational budget for fiscal year 2015, which starts on Oct. 1 this year. This submission is based on collections and revenue it expects to raise in the next 12 months. <\/p>\n
OMB documents show that CHCC expects to earn a total of $36.803 million for the hospital side: Medicare ($15.906 million); Medicaid ($10.688 million); private insurance ($6.356 million); Guam Marianas Collection Agency ($309,331); rental lease ($79,500); grantor\u2019s upfront payment ($2.356 million); indirect cost ($756,470); cafeteria lease ($60,000); and health electronic record incentive ($280,610).<\/p>\n
In the Public Health Division, the projected revenue for fiscal year 2015 is at $403,833. It also expects the Rota and Tinian health centers to generate $367,680 and $516,674 respectively.<\/p>\n
Next fiscal year\u2019s proposed seed money of $3.469 million was also factored in the overall budget submission of $41.5 million.<\/p>\n
CHCC\u2019s revenue projection in fiscal year 2015 ($41.5 million) is slightly higher than what it projected for fiscal year 2014 ($40.933 million). The difference is due to an anticipated lower incentive for the hospital\u2019s electronic health record system, which received $1.12 million in fiscal year 2014 and only $280,610 expected in fiscal year 2015.<\/p>\n
CHCC has indicated it will continue to incur unforeseen expenditures as it continues to address Medicare compliance.<\/p>\n
The U.S. Centers for Medicare and Medicaid Services is expected to decide on CHC\u2019s Condition of Participation in June this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Commonwealth Healthcare Corp. projects nearly $27 million in reimbursements from both Medicare and Medicaid…<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[666,26,55],"class_list":["post-32136","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-chcc","tag-cnmi","tag-health-2"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/32136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=32136"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/32136\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=32136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=32136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=32136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}