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National, State Long Term Care Leaders Speak to Severe Medicare ...

Date Added: 04-05-2005

News Advisory:

The Bush Administration is expected to announce a rule this month that would carve out $1.5 Billion in fiscal year 2006 Medicare beginning midnight Sept. 30, 2005. An independent report from leading national investment bank says cuts will cause financial stress and "overwhelm" long term care provider community. California is the second hardest hit state in Medicare cuts totaling more than $2 billion over ten years -- $16,941 annual loss in Medicare funds per resident.

What: Days before the Bush Administration announces a rule that could let the axe fall on $1.5 billion in fiscal year 2006 Medicare cuts to skilled nursing care effective October 1, 2005, national and state long term care advocates and providers will address in a news teleconference the particularly harsh budget cuts proposed in the administration's fiscal year 2006 budget that total $25 billion over ten years. In addition, a financial analyst from a leading investment bank will brief reporters on a new analysis that illustrates how changes in Medicare reimbursement could hurt long term care providers given that "nursing homes are the lowest margin publicly reimbursed health care services segment."

On the national level, Hal Daub, former NE congressman and current president and CEO of the American Health Care Association -- the nation's largest organization of long term care providers -- will provide the Capitol Hill perspective and discuss current congressional action and deliberation on President Bush's budget proposal.

James Gomez, CEO of the California Association of Health Facilities, will speak to the state impact of removing funds from an already-strained healthcare system in the nation's most populated state.

Ken Cess, vice president of Operations for Sun Healthcare Group will address the quality improvements California's long- term care providers have been able to make in the delivery of skilled nursing care under adequate funding and the direct impact draconian cuts in Medicare will likely make to the care provided to elderly residents.

James J. Kumpel, CFA, Friedman, Billings & Ramsey Co., will discuss the newly released April 2005 report entitled, "Senior Moments: Medicare RUGs Refinement Outlook Varies Widely, but Current Budget Could Disproportionately Hurt Nursing Homes."

Who:

-- Hal Daub, president and CEO of the American Health Care Association (AHCA) & Chairman of the independent, bipartisan Social Security Advisory Board, created by Congress and appointed by the President

-- James Gomez, CEO of the California Association of Health Facilities

-- Ken Cess, vice president, Operations, Sun Healthcare Group

-- James J. Kumpel, CFA, senior analyst, senior vice president, Healthcare Equity Research, Friedman, Billings, Ramsey & Company

For More Information: http://press.arrivenet.com/pol/article.php/630994.html