profits

U.K.-based iSoft is facing tough times after the maker of software for hospitals said delays in the U.K.'s Connecting for Health project will put the squeeze on profits. The company's shares are down 50 percent since yesterday and analysts have issued downgrades. One analyst quoted in the U.K. press notes that the problems could renew interest in the company's accounting practices, a problem management thought was on the verge of going away. Article

After a year which saw Utah Medical Products challenge the FDA and win, the company said its profits in the final quarter were up about 36 percent and sales up about 10 percent. Last year, the FDA filed suit against the company saying that it was not obeying rules for monitoring product quality during the manufacturing process. The case was dismissed in October.

- see this release from Utah Medical Products

> The unusual situation at Maryland's CareFirst says a lot about the problem facing non-profits in the U.S. these days. The goal: reduce profits as quickly as possible to avoid criticism. Article

> Chutes & Ladders: UMDNJ …

Cerner's shares continued to slip as Wall Street interpreted a report published on Tuesday questioning the company's accounting practices. By the end of trading Thursday, Cerner shares were down to $83.95, falling $9.13 in very heavy trading. They are in the same range midday Friday.

How real are the questions surrounding the company? The firms behind the allegations say there are warning flags that aggressive revenue recognition tactics are in use. Questionable (well actually, …

In a web exclusive for Health Affairs, Tennessee Blue Cross Blue Shield President Vicky Gregg discusses the lessons of her non-profit's continued financial success and the meltdown of the TennCare experiment. The CEO's interview with economist James Robinson touches on two key healthcare stories: the controversy over the profitability of non-profits and the issue of Medicaid reform.

On pricing: "There was a considerable pushback to the …

WellPoint said its profits have nearly doubled as a result of its merger last year with Anthem. The giant health plan announced stellar numbers today, with net income up 164 percent to $640 million. The insurer said its sales more than doubled, rising to $11.3 billion from $4.8 billion. It wasn't enough for Wall Street, however, which was looking for more. WellPoint shares were down 3% in morning trading.

- see this …

Health IT vendor Cerner reported excellent third-quarter results yesterday, posting profits up nearly 80 percent to $26.4 million, thanks largely to new bookings. The company reported 233 implementations of its Millennium Information System in the quarter. Cerner now has 4,500 systems installed at healthcare facilities around the world. Highlights of the quarter for the company included a $149.3 million deal with Fujitsu to work on the massive NHS project in the UK.

The …

Swiss pharmaceutical giant Roche is reporting that its third-quarter sales are up 20 percent, led by demand for its popular cancer drugs and a doubling of sales for the flu drug Tamiflu. The company reported increased sales of Avastin and Herceptin, both developed by majority-owned Genentech. There may be a speed bump in the road ahead, however. Roche faces controversy over its handling of the unprecedented demand for Tamiflu. Some critics say the company is putting profits ahead of the …

A Pennsylvania group says profits are up at some specialty hospitals in the state while others are facing tougher times. The Pennsylvania Cost Containment Council said long-term acute care facilities reported an average operating margin of nearly 6 percent in fiscal 2004, up from an average loss of 0.25 percent a year earlier. Rehabilitation hospitals and psychiatric facilities in the state, on the other hand, are struggling. Ambulatory surgery centers continued to perform well, reporting …

> The Boston Globe editorial board seconds Rep. Charles Grassley's (R-Iowa) call for an investigation into Wall Street payoffs for medical researchers. Op-Ed

> HIT: The Los Angeles Times looks at automated drug dispensers, which are starting to appear in some retail pharmacies to replace the "will call" draw. …