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ATLANTA, Feb. 13, 2012 /PRNewswire/ -- Amid the current debate surrounding the Centers for Medicare & Medicaid Services (CMS) proposed regulations regarding the development of Accountable Care Organizations (ACO), many leaders in the healthcare industry are looking to successful ACO and ACO-like initiatives for guidance on best practices and critical success factors. At this year's Healthcare Information and Management Systems Society (HIMSS) Annual Conference and Exhibition, Craneware's clients, Todd Craghead, Vice President of the Revenue Cycle at Intermountain Healthcare, and Dale Sanders, CIO of the Cayman Islands Health Services Authority (HSA), will share lessons learned from their organizations on how to improve the business of healthcare through revenue integrity workflow processes.

The presentation, "Implementing Sustainable Revenue Cycle Workflows" will be held on Friday, February 24 at 10:00am – session 205, and will highlight key areas for C-suite executives to emphasize when working to improve an organization's operational efficiency and financial performance. Todd Craghead of Intermountain, the internationally-recognized non-profit health system cited as a "bellwether in healthcare" by President Obama, will speak alongside Dale Sanders of the Cayman Islands HSA, a public healthcare system comprised of two hospitals and six clinics with an insurance company in the Cayman Islands. These industry leaders will share their own unique experiences in how improvements to revenue cycle management processes through workflow technology can lay the foundation for success, regardless of whether the organization participates in an ACO.

"Our main priority at Intermountain is to provide high-quality yet cost-effective care to our community – goals that are strategically very similar to ACO objectives," said Craghead. "Based on our experience, organizations cannot achieve these revenue integrity goals without effective collaboration and automated technology to enhance compliance and improve charge capture. I am pleased to have the opportunity to share my experience with the HIMSS community alongside Dale Sanders and with the support of Craneware."

"A little over two years ago, we started the journey towards major healthcare reform in the Cayman Islands, starting first with reforms to pricing, insurance billing and the revenue cycle," said Dale Sanders, CIO of the Cayman Islands Health Services Authority (HSA).  "Prior to this, the national system had 14 straight years of eight-figure financial loss.  The first two years of the reform effort resulted in the first two years of profit in the system's history.  It's an amazing turnaround.  We are now implementing a point-of-care, real-time claims adjudication system that will cut the overhead of coding and claims processing by 60%.  It's an honor for me to share this story of the Cayman Islands as a national role model for healthcare reform, particularly together with Todd Craghead and Intermountain, where I spent the first 10 years of my healthcare career. "

"The ACO movement has sharpened the healthcare industry's attention to the importance of revenue integrity," said Keith Neilson, Craneware CEO. "Craneware is committed to helping healthcare organizations achieve optimal, appropriate reimbursement, increased operational efficiency, and compliance. It is gratifying to support our clients as they share best practices for achieving revenue integrity with the HIMSS community. We are glad Craneware software is a core component of these customers' revenue integrity accomplishments, normalizing data at the points where clinical information transforms into revenue transactions, while creating visibility and accountability for sustaining financial health."

Craneware, the market leader in automated revenue integrity solutions, is deeply committed to promoting revenue integrity within healthcare organizations. As part of these efforts Craneware maintains its Revenue Integrity Round Table blog at StoptheLeakage.com. Craneware invites all those in healthcare and related fields join the more than 200 members already committed to the movement to prevent revenue leakage by building a structure to support optimal revenue integrity. 

About Intermountain Healthcare
Intermountain Healthcare is a nonprofit system based in Salt Lake City, Utah, with 23 hospitals, more than 185 clinics, a Medical Group with over 900 employed physicians; a health plans division called SelectHealth, and other related health services.  Intermountain is the largest healthcare provider in the Intermountain West, with over 32,000 employees.  They are widely recognized as a leader in clinical quality and efficient healthcare delivery, having been ranked 12 consecutive years in a row among America's top 100 integrated healthcare systems. 

About Cayman Islands Health Services Authority
The Cayman Islands Health Services Authority provides primary healthcare and public health services through the 124-bed Cayman Islands Hospital (104 inpatient and 12 observation beds) and the 18-bed Faith Hospital on Cayman Brac. Ancillary services are offered at six district health centers, and clinics for dental and eye care.

About Craneware
Craneware (AIM: CRW.L) is the leader in automated revenue integrity solutions that improve financial performance for healthcare organizations. Craneware's market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge, code and retain earned revenue for patient care services and supplies. This optimizes reimbursement, increases operational efficiency and minimizes compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com and stoptheleakage.com.

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Intermountain Healthcare and Cayman Islands Health Services Authority Executives to Present on Revenue Integrity at ...

The China Post/Asia News Network
Monday, Feb 13, 2012

TAIPEI - A Japanese national who has lived in Taiwan for over 15 years has started a fundraising campaign for a taxi driver allegedly attacked and beaten unconscious by half-Japanese actress Makiyo and a Japanese friend.

Naotsugu Yoshida, 34, who is a supervisor of the Hatta Yoichi Memorial Foundation for Culture and the Arts in Taiwan, said he felt sorry about the alleged assault by his fellow countryman and that he hopes he can help the injured taxi driver and his family with the money raised.

Yoshida said that nearly 200 Japanese expatriates in Taiwan have expressed their intention to donate to the fund and that he has raised close to NT$100,000 (US$3,381) so far. He said he hopes to deliver the money to the driver in person.

Yoshida said many Japanese feel angry about the criminal act and the attitude after the attack of the alleged offender Takateru Tomoyori, because he only tried to defend his brutal assault rather than apologizing in the first place.

Tomoyori's attempt to take all the responsibility for Makiyo and two other women allegedly involved in the case in recent days was also not a responsible way to handle the matter, Yoshida said.

Although the injured driver's condition has improved, Yoshida went on, Tomoyori and Makiyo should think about how to show their sincere remorse and help with the driver's medical care.

When asked about the controversial media coverage since the assault took place Feb. 2, Yoshida said the intense pursuit by the press helped reveal the truth about the incident, since Makiyo and Tomoyori did not give honest accounts until the true nature of the attack was exposed.

Makiyo and Tomoyori were indicted for "inflicting serious bodily harm" by the Taipei District Prosecutors Office on Feb. 10.

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Japanese expats raise fund for victim of high-profile assault in Taiwan

British expatriates planning a return to the UK need to do their homework before they head back or face a big financial headache, experts have warned

It is best to start planning in the UK tax year before you move home, as there can be significant tax savings which rely on steps being taken before the end of the preceding tax year.

Martin Rimmer, Singapore-based tax adviser with the Fry Group , said: “If possible, consider how long you will be living in the UK and how you expect to fund your lifestyle. The cost of living may be vastly different from where you are now. Don’t forget that any income you need to generate must be after tax careful planning is needed, and with that care and attention surprisingly low rates of tax on income and gains can often be achieved.”

Some UK taxes can be avoided if you or your partner are not of British descent or either of you has become "non-domiciled" for UK tax purposes. This route potentially allows you to shelter non-UK income and gains from tax, as well as keeping those assets outside of inheritance tax.

It may be wise to close non-UK deposit and savings accounts so that the interest is paid before you return, upon which it would become taxable in the UK.

Also it would make sense to sell assets which have risen in value significantly with a view to crystallising gains while you are still outside of the UK tax net. If you have UK property then you may face a sizeable capital gains tax (CGT) bill if you decide to sell your house after your return. If you are not planning on living in your house when you return, then it may be prudent to sell it while you are still non-resident, thereby avoiding CGT.

British expat Ken Gilbert is returning to England after five years in Singapore. He said: “One of the first things I will do is let HM Revenue & Customs know I’m back but have sold certain assets, as I don’t want to get hit with an unexpected tax bill.”

Once back in the UK you can make use of ISAs, income tax and CGT allowances whose limits would have all risen since you departed, and can be used to reduce your annual tax bill.

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Returning expats told to get finances in order

Home > News > india-news

New Delhi, Feb 13 : In the first official Indian figure ever mentioned on black money parked abroad, the Central Bureau of Investigation (CBI) on Monday said an estimated 500 billion USD, which is equivalent to about Rs 24.5 lakh crore, of illegal money is stashed away in foreign tax havens by the Indian depositors.

CBI director Ambar Pratap Singh made the disclosure at the inaugural function of the First Interpol Global Programme on Anti-Corruption and Asset Recovery.

"India in particular has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin Islands, etc. It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad," Singh said.

"Largest depositors in Swiss banks are also reported to be Indians," he said.

"Development of new methods of financial flows and communication technology have made it easier for the corrupt to conceal and stash away stolen wealth. On the other hand, differences in legal systems, high costs in coordinating investigations, inadequate international cooperation and bank secrecy laws have made the task difficult for the anti-corruption authorities," he said.

"The World Bank estimates the cross border flow of money from criminal activities including corruption and tax evasion to be around 1.5 trillion US Dollars annually. Around 40 billion US dollars of this flow is on account of bribes paid to public officials in the developing countries.

"Out of this, the World Bank estimates that only 5 billion USD in stolen assets have been repatriated over the past 15 years. That leaves a wide gap between the outflow from the developing countries and its subsequent repatriation," he said.

"Tracing, freezing, confiscation and then repatriation of stolen assets is a legal challenge. Managing the asset recovery investigation is complex, time consuming, costly and most importantly requires expertise and political will. There are many obstacles to asset recovery," he said.

He said the global financial market allows money to travel further and faster than ever before. In cases in which that money is the illicit proceeds of crime, particularly in the case of organized crime, this makes the tracing, freezing and recovery of assets even
more difficult, he said.

"One of the most complicated aspects of international asset tracing is the issue of jurisdiction. Generally, the jurisdiction in criminal law is territorial and it is a well established principle that one State will not enforce their legal formalities on another State without following proper procedures. Criminals use these principles to their advantage, often spreading the crime over at least two jurisdictions and investing in a third," he said.

"In some of the recent important cases being investigated by CBI such as 2G/CWG/ and Madhu Koda, we find that money is taken to Dubai/Singapore/Mauritius from where it goes to Switzerland and then British Virgin Island/Caymen Islands and other such tax havens.

"For the criminals all it involves is setting up of a few shell companies and then making layered transfers from one account to another in a matter of hours as there are no boundaries in banking transactions," he said.

He said for the investigators, however, each layer has to be peeled by sending an L.R. (Letter Rogatory) through judicial channels, and obtaining information from each leg of the transaction can take in many cases several years.

"53% of countries said to be least corrupt by the Transparency International Index are offshore tax havens, where most of the corrupt money goes. The tax havens include New Zealand ranked the least corrupt country, Singapore ranked No.5 and
Switzerland ranked No.7," he said.

"There is a lack of political will in the leading tax haven States to part with information required to trace such assets as they are all too aware of the extent to which their own economies have become geared to this flow of illegal capital from the poorer countries," the CBI director added.

Inaugurating the Programme, Union Minister of State for Personnel V. Narayanasamy said the government is committed to fighting the menace of corruption and has taken several initiatives in this direction.

He said that India ratified the United Nations Convention Against Corruption in June, 2011.

Narayanasamy said that recovering and attaching assets created through corrupt means is an important aspect which needs full attention.

Delay or inability to recover ill-gotten assets vitiates the entire process of law enforcement, he said.

Narayanasamy expressed happiness that these aspects will be given importance in the Global Programme on Anti-Corruption and Asset Recovery. He said such global training programmes should be a continuous process, and contents should be suited to user requirements. (IBNS)

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$500 bn stashed abroad by Indians: CBI

Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI Director said today.

India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc.

"It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad. Largest depositors in Swiss Banks are also reported to be Indians," CBI Director A P Singh said speaking at the inauguration of first Interpol global programme on anti-corruption and asset recovery.

He said getting information about such illegal transactions is a time taking process as investigators have to peel each layer by sending judicial requests to the country where such deposits have been made.

"53 per cent of the countries said to be least corrupt by the Transparency International Index are offshore tax havens, where most of the corrupt money goes. The tax havens include New Zealand, which is ranked as the least corrupt country, Singapore ranked number five and Switzerland number seven," Singh said.

He said there is a lack of political will in the leading tax haven states to part with the information because they are aware of the extent to which their economies have become "geared to this flow of illegal capitals from the poorer countries."

The CBI director said tracing, freezing, confiscation and repatriation of stolen assets is a legal challenge, a complex process which requires expertise and political will.

... contd.

Tags: Blackmoney, illegal money trail, Indian depositors, Interpol meet, nation news

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Continued here:
Blackmoney: Indians have stashed over $500 bn in banks abroad, says CBI