sharply news from FierceHealthcare
News
Study: Cardiology costs rising faster
New data from the Medical Group Management Association suggests that some key specialties--particularly cardiology--are continuing to face financial pressures. One new study of... Read more...
Hawaii insurance requirement raises eyebrows
Despite criticism from providers, who fear that many patients won't take action, the state of Hawaii has instituted a policy under which enrollees in its Quest health insurance program must re-enroll to be included in managed care plans. Right now, Quest's 165,000 low-income enrollees can participate in Hawaii Medical Association, AlohaCare, Kaiser Permanente and Summerlin managed care plans. However, the new policy taking effect as of April 1 would require them to select a specific …
... Read more...AHIP: Electronic claims processing on the rise
The trade group America's Health Insurance Plans released a study reporting that most hospitals, doctors and pharmacies are now sending claims to insurers electronically. According to the group, 74 percent of claims are now electronic, up sharply from 43 percent a decade ago. According to the New York Times, the trend "reflects the growing role of companies specializing in claims processing." The release of the AHIP study comes just after yesterday's mammoth Athenahealth …
... Read more...Medicare Part D successes examined
Despite the negative publicity surrounding the program, some Medicare Part D participants have saved substantial sums by enrolling, The New York Times reports. The newspaper looks at a group of seniors who have seen their drug expenses fall sharply since the benefit went into effect. One community pharmacist is quoted as saying Part D was "significantly beneficial to one-third of Medicare patients, marginally beneficial to half the patients and no benefit at all to the …
... Read more...Panel chastises Guidant over recall
An independent review panel sharply criticized Guidant for its past handling of patient-safety issues. The panel said the company's response to evidence of serious defects involving its pacemakers and defibrillators was inappropriate. Guidant executives learned of the problems three years ago, but chose not to release the information. The group's report finds the company relied on engineers to make decisions about the release of safety information rather than turning to medical experts. …
... Read more...Alvarado Medical Center trial headed for mistrial?
The jury in the federal racketeering trial of Tenet's Alvarado Medical Center in San Diego appears to be sharply divided and may be on the way to a deadlock. Last week, a juror wrote to Judge M. James Lorenz to complain about "personal biases" on the part of several other jury members. The jury has been in deliberations for 35 days. The first trial in the case last year ended in a mistrial. Federal prosecutors allege that the hospital violated anti-kickback laws when it offered referral …
... Read more...Tenet announces Q4 loss of $251 million
Tenet turned in a Q4 loss of $251 million, down from $2.19 billion a year ago. The company blames uncollected patient debt. Last year, Tenet moved its headquarters from Santa Barbara to Dallas and began a major belt-tightening campaign. Analyst opinion on the company remains sharply divided, with only a few experts predicting a good year. Credit Suisse First Boston is one of few bulls, rating the stock "outperform." Tenet has several outstanding problems, such as the official …
... Read more...Health costs will keep rising
The government released new projections for healthcare spending today. As expected, analysts are forecasting that spending will continue to rise sharply over the next ten years as an aging American population grows increasingly reliant on expensive medical technologies and therapies. By 2015, one in five dollars will be spent on healthcare as spending rises from 16 percent of GNP to 20 percent. Overall Medicare spending is expected to more than double, from $309 billion this year to $792 …
... Read more...Fewer drugs coming in from Canada
The Canadian International Pharmacy Association says that the number of Americans turning to Canada as a source of prescription drugs has fallen sharply since Medicare Part D went into effect January 1st. The group says cross-border sales have dropped about 30 percent over the past month and a half. Sales may also be falling, CIPA President Andy Troszok said, because US officials have been seizing more shipments at the border. Customs officials have refused to disclose how many packages …
... Read more...Prescription imports seized at border
Customs agents appear to have stepped up seizures of shipments from Canadian Internet pharmacies since the launch of Medicare Part D, according to the Los Angeles Times. Most of the Canadian suppliers the newspaper contacted say the number of confiscations has risen sharply over the past month. "It's huge--we've had over 800 seizures in January, up from 15 in a typical month," one importer told the paper. Shipping prescription drugs into the country without FDA approval has always …
... Read more...