boston

Biotechs turning to health foundations for cash

Tue, 08 Apr 2008 06:59:56 -0400

In most cases, biotech firms turn to venture capital, public stock offerings and traditional financing to fund their medical research efforts. However, in Massachusetts at least, biotechs are turning to nonprofit foundations to fund some of their research. For example, this week Epix Pharmaceuticals received about $38 million from the Cystic Fibrosis Foundation to help it find new drugs to treat the condition, contingent on meeting some of the foundation's goals. In other examples, the Juvenile Diabetes Research Foundation gave some of a recent $25 million grant round to three Boston-area biotech firms. And the Muscular Dystrophy Association has given $8.5 million to for-profits, with plans to give $1 million more to another Boston-area research house. Overall, disease-related foundations invested about $75 million in the biotech industry last year, according to industry publication CenterWatch Monthly.

To learn more about this funding approach:
- read this article from The Boston Globe
- read this FierceBiotech piece

Related Articles:
Epix Pharmaceuticals expands collaboration with Cystic Fibrosis Foundation Therapeutics. Release
Foundation invests millions to find MS drug leads. Report

Publisher's Note: FierceMarkets joins Questex Media

Wed, 23 Jan 2008 06:59:59 -0500

Publisher's Note:

I wanted to share some exciting news with you. Yesterday we announced the sale of FierceMarkets, the publisher of FierceHealthcare, to Questex Media, a Boston-based B2B media company. (See the press release for more info).

FierceMarkets will remain an independent entity led by our existing team here in Washington, DC, and this will not impact any of our services to you. Over time, we expect this to open up new opportunities, to add value for readers and advertisers, and to help us expand more rapidly into new markets.

Personally, I am excited to continue our strong growth as part of Questex. Most of all, I am grateful to readers like you, and to all those who have contributed to our growth. The FierceMarkets team and I will continue to serve you to our best abilities.

Maurice Bakley
VP and Publisher, FierceHealthcare

ALSO NOTED: NY gov, MDs push EMRs; Caritas loses hoped-for CEO; and much more...

Wed, 16 Jan 2008 06:59:50 -0500

> New York's governor and state medical association are working together to push acceptance of electronic medical records in the state. FierceHealthIT

> Execs with Boston health system Caritas Christi are reeling after learning that their intended new CEO will not be taking over leadership of the troubled system. Article

> The University of Pittsburgh Medical Center is testing 'smart rooms' equipped with computer screens that display all key patient information. Article

> California's San Mateo Medical Center, the county's public hospital and clinic system, will be spending $1.9 million to improve services. Article

And Finally... This guy sounds like Jabba the Rat. Article

ALSO NOTED: Tufts gives $500K to quality group; Cleveland clinic gets $5M for innovation; and much more...

Thu, 20 Dec 2007 06:59:50 -0500

> Boston's Tufts Health Plan has donated $500,000 to a local non-profit which measures physician performance. Article

> The Cleveland Clinic has gotten a $5 million gift which focuses on innovation, in the process creating the Clinic's first chief executive chair. Article

> Over the next two years, expect to see hospitals focus on IT investment. FierceHealthIT

> One trade group is suggesting that all patients get a unique ID for use when providers share data electronically. FierceHealthIT

And Finally... White bread or wheat? Which will kill you faster? Article

ALSO NOTED: Ding! S-CHIP fight goes into round two; Boston officials ask Caritas to set facility free; and much more...

Fri, 02 Nov 2007 07:59:50 -0400

> Here we go again. Congress has passed another version of S-CHIP, and President Bush has promised another veto. Article

> Boston officials are asking Caritas Christi Health System to let one of its hospitals begin looking for a buyer independently. Article

> Jackson Health System, parent of giant Florida public hospital Jackson Memorial, has struck a deal under which Florida International University's medical students will do their teaching programs there. Article

> Pharmaceutical sales in the U.S. will drop to one-third of global sales next year, from a 50 percent share only two years ago, according to IMS Health. Article

And Finally... Now this is a big rate hike, no matter how you slice it. Article

ALSO NOTED: States push for hospital pricing disclosures; Actor supports hospital union; and much more...

Tue, 16 Oct 2007 06:59:50 -0400

> States continue to push for disclosure of hospital pricing data. Article

> Actor Ben Affleck has come out in support of a union working to organize staff at Boston's teaching hospitals. Article

> CMS has moved up the deadline for implementing the National Provider Identifier to late May of next year. FierceHealthIT

> Congress is considering a new bill intended to speed up the adoption of health IT. FierceHealthIT

And Finally... Sure, TV can be aggravating, but I wouldn't go this far. Article

Groups push for federal community benefit standards

Fri, 28 Sep 2007 06:59:58 -0400

A coalition of community groups is recommending that the federal government set some strict, easily measurable community benefit standards for non-profit hospitals. The groups, led by Boston-based Community Catalyst, are recommending that to keep their tax exemption, non-profit hospitals be required to provide free care valued at five percent of revenue or operating expenses (whichever is greater).

The groups would also like to see universal guidelines put into place for which patients qualify for free care. They're suggesting that all patients earning up to 200 percent of the federal poverty level get free care and those with incomes at 200 percent to 400 percent of the federal poverty level get partial free care.

To hear more of the discussion:
- read this Modern Healthcare article

Related Articles:
IRS says 'uncompensated care' definition is dicey. Report
IRS to investigate nonprofit hospitals. Report
Proving community benefit by reducing sickness. Report
A critical time to prove community benefit. Report
A new standard for voluntary hospitals? Report
VHA: Charity policy must come from the top. Report

Health plan spends $4M to emphasize split with MDs

Wed, 19 Sep 2007 06:59:55 -0400

Sometimes, the perception lingers much longer than the reality. Despite having split up four years ago, it appears that Boston-area consumers still don't know that Harvard Pilgrim Health Care isn't affiliated with one private medical group. So now the health plan is mounting a $4 million ad campaign to get that point across. The new ads stress that Harvard Pilgrim beneficiaries can visit physicians across the area rather than visiting health plan-backed centers.

Years ago, patients who were part of the one million member Harvard Pilgrim had to see physicians in an affiliated medical group known as Harvard Vanguard. In 2004, however, Harvard Vanguard and Harvard Pilgrim broke off their relationship. Harvard Vanguard is now part of a larger group of medical practices known as Atrius Health, which is mounting its own separate ad campaign to stress Harvard Vanguard's arrival.

To learn more about the campaign:
- read this piece from The Boston Globe

MA physicians challenge retail clinic plan

Thu, 06 Sep 2007 06:59:58 -0400

If it gets its way, CVS will open up 30 or more MinuteClinics throughout the Boston, MA area in the near future. But it might not be so easy to do that. Under fire from physicians, state regulators are considering adding additional restrictions to existing rules governing the clinics, in some cases increasing overhead for locations which compete largely on price.

Currently, state rules would allow CVS--and its competitors--to open up retail clinics using a limited-service clinic license. (That's how CVS has rolled out locations in other states.) However, like their peers elsewhere, area physicians argue that the clinics aren't kosher. For example, they charge that such clinics may not be sanitary enough, given that they don't require clinics to have their own sinks. They also suggest that the MinuteClinics could face conflicts of interest when prescribing, given that their employer sells drugs.

State regulators don't seem inclined to refuse CVS's application. However, they say they might consider establishing a minimum patient age and requiring clinics to answer phone calls after hours, among other possible changes to the rules. Existing regs would also require the clinics to limit return visits, refer patients to primary care for more-complex illnesses and give patients and their doctors a copy of their medical records.

To learn more about the debate:
- read this piece from The Boston Globe

Related Articles:
MA doctors protest CVS retail clinic expansion. Report
Doctors push law regulating retail clinics. Report
Retail clinics: thousands on the way? Analysis
Retail clinics shift care delivery assumptions. Report

Mass. hospital struggles with patient violence

Tue, 21 Aug 2007 06:59:57 -0400

Massachusetts nurses have mounted a campaign against workplace violence, triggered in part by incidents taking place over the past year at one suburban hospital. At Boston-area Brockton Hospital, one nurse was kicked to the floor and beaten, another punched in the face, and yet a third threatened with a knife. Still others have had their hair pulled.

In response to these incidents, and others across the state, the Massachusetts Nurses Association has called for a close look at this problem across the state. By their measurements, 50 percent of nurses surveyed by the Massachusetts Nurses Association and the University of Massachusetts reported they'd been punched at least once during a two-year period.

The incidents at Brockton Hospital led to an investigation by OSHA, which sent the facility a letter expressing concerns over violent conditions found by its investigator, particularly in the psych ward and emergency department. However, OSHA couldn't take official steps since there are no specific workplace violence standards detailed in its charter. However, it has recommended the hospital create a workplace safety committee, perform a worksite analysis and provide more violence prevention training. OSHA has also asked the hospital for ongoing progress reports.

To learn more about the violence problem:
- read this article from The Boston Globe

Related Articles:
Nurses confront violence on the job. Report
Mortality rises, falls with nurse staffing levels. Report
Mentors dramatically improve nurse retention. Report
Study: Nursing shortage gap closing. Report