Printer Friendly

INTEGRATED HEALTH SERVICES RECEIVES MEDICARE REIMBURSEMENT APPROVALS

INTEGRATED HEALTH SERVICES RECEIVES MEDICARE REIMBURSEMENT APPROVALS
 HUNT VALLEY, Md., Oct. 13 /PRNewswire/ -- Integrated Health Services, Inc. (NASDAQ: IHSI) today announced it has received 10 special approvals from Medicare for cost-based reimbursement of subacute care services provided in its Medical Specialty Units (MSUs).
 The company is required to submit exception requests to the Health Care Financing Administration (HCFA) documenting the special needs of subacute patients and the related costs. Thus far, the company has received approvals on 14 exception requests for 89 percent of the requested amount.
 Going forward, HCFA has also implemented a new streamlined approval and payment system for newly opened MSUs, which will substantially shorten the review process for IHS and should greatly enhance the company's cash flow.
 "We are excited to receive these extensive approvals from HCFA. The 14 approvals we have received and the high approval percentage are major achievements for IHS which we feel validate our MSU model," said Robert N. Elkins, chairman, president and CEO. "The approval of these exception requests is a major demonstration of HCFA's acceptance of a need for quality, cost-effective subacute care providers."
 IHS uses geriatric care facilities as a platform for the company's MSU program which provides a wide range of subacute stage medical and rehabilitative services traditionally given in an acute care hospital. Patients who are medically stable but require sophisticated monitoring and therapy receive specialized care such as ventilator therapy, wound management and post-operative care. The MSU setting is both cost- effective and less institutional. IHS currently operates 55 geriatric care facilities nationwide with more than 7,200 beds including a 501-bed network of MSU beds in 26 specialized units.
 -0- 10/13/92
 /CONTACT: Robert N. Elkins, M.D., chairman, CEO and president of Integrated Health Services, Inc., 410-584-7050; or Susan A. Noonan of Noonan/Russo Communications, Inc., 212-979-9180, for Integrated Health Services, Inc./
 (IHSI) CO: Integrated Health Services, Inc. ST: Maryland IN: HEA SU:


CK-LR -- NY045 -- 9340 10/13/92 12:45 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 13, 1992
Words:329
Previous Article:RAGS TO RICHES ATTORNEY TO APPEAR ON ROBIN LEACH'S 'LIFESTYLES OF THE RICH & FAMOUS'
Next Article:SPRINT DECLARES FOURTH QUARTER DIVIDEND
Topics:


Related Articles
Medicare physician and hospital utilization and expenditure trends.
POTENTIAL MEDICARE REIMBURSEMENT FOR DAVSTAR'S INCONTINENT SYSTEM
A profile of home health users in 1992.
National trends in reimbursement.
LAWSUIT RESULTS IN SIGNIFICANT VICTORY AGAINST MEDICARE RATIONING.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters