HealthLeaders Media Corner Office - January 14, 2011 | Big Business: Healthcare's a Gold Mine View as a Webpage | Subscribe for Free
Big Business: Healthcare's a Gold Mine
Philip Betbeze, Senior Editor-Leadership

Wall Street sees huge profit potential in healthcare, which lags behind other industries in rooting out inefficiency and waste. Technology could make a greater impact on efficiency in healthcare than any other industry it's tackled in a generation, and that's the big draw.
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  January 14, 2011

 
Editor's Picks
Healthcare Data Worth its Weight in Gold
For all the badmouthing of health insurers, one thing they deserve credit for is their ongoing attempts to lower medical expenditures. Over the years, health plans have tried a number of medical expense-lowering tactics, such as heavy-handed preauthorization and utilization guidelines, which theoretically are an effective way to ensure physicians aren't driving up the bill by administering unnecessary procedures. Amid severe pressure from physicians, and a realization that these efforts weren't doing the trick, insurers have moved on to more progressive strategies, including incentives for caregivers that improve quality and lower costs. [Read More]
Healthcare Payers, Providers Partner on Claims Processing
The pressure for payers and providers to operate more efficiently and cooperatively is increasing—which is why many in healthcare are seeking to decrease claims adjudication woes. It's estimated that nearly $210 billion annually is spent to process healthcare claims. Moreover, approximately one in five medical claims is processed inaccurately, according to the American Medical Association's 2010 National Health Insurer Report Card. These processing errors cost the healthcare industry an estimated $15.5 billion. The AMA notes that if insurers could improve that number by just 1%, they would save nearly $778 million. [Read More]
Chicago's Provident Hospital to halt ambulance runs
Ambulance runs to cash-strapped Provident Hospital's emergency room are about to be halted as part of an effort by Cook County officials to cut the facility's budget. Beginning Saturday, the hospital will no longer accept ambulance runs to the emergency room. Patients will now be taken to any of the six hospitals within a five-mile radius of Provident. The change would affect about 3,800 patients who are brought by ambulance each year and would save the county between $20 million and $25 million. [Read More]
Rounds: Cardiac Care Leadership for Improved Alignment and Outcomes
Medical specialties are tied back to hospitals and health systems like never before; nowhere are the resulting alignment challenges more acute than in the cardiac service line, where independent practices find themselves seeking the financial shelter of integration. Join us on February 15 live from Baylor Heart and Vascular Hospital and share in the lessons from executives at leading national cardiac service lines and medical groups on shared governance, clinical integration, and physician alignment. [Learn More]
 
This Week's Headlines
BCBSA's Holland Rejects Conflict of Interest Criticism
HealthLeaders Media, January 13, 2011
Signature Hospital Corp. Prepares to Close
HealthLeaders Media, January 13, 2011
NFL Team Owner Gives $20M for Community Health
HealthLeaders Media, January 12, 2011
AZ hospital workers fired for privacy violations after mass shooting
Arizona Daily Star, January 13, 2011
AZ trauma surgeon unfazed by shooting
Los Angeles Times/Reuters, January 13, 2011
Tenet girds against Community Health Systems
The Wall Street Journal, January 12, 2011
PA subsidized health insurance for poor to end
Philadelphia Inquirer, January 13, 2011
 
Sponsored Headlines from IBM
Forrester Whitepaper: CMO's Must Connect the Dots of the Online Brand: Digital has been widely embraced by consumers and by many parts of the enterprise. But the adoption of digital channels—Web sites, mobile apps, online sales and customer service, and other smart touches—has often occurred in a piecemeal way. This has resulted in three potential mishaps.

Openness: The Basis for a Sound Unified Communications Strategy: The vast majority of customer environments are mixed environments. In this IBM® podcast you'll hear how an open approach provides you with choice. So instead of ripping out a perfectly good infrastructure, you can integrate what you've already invested in and create additional business value.

AMA Webcast: The Online Customer Experience—Make it Exceptional: IBM has defined a forward-looking vision for how organizations will turn today's customer experiences into exceptional experiences that drive business results. Join us on September 21 to hear Kristen Lauria, Vice President of Marketing & Channels at IBM, talk about this vision and introduce two innovative clients who are achieving results today by bringing together the right combination of capabilities online.

Your world, your way: the IBM WebSphere: For a business to stay competitive, it needs to be more productive and respond quicker to business opportunities. Watch this demo to see how IBM® WebSphere® Portal software enables you to connect your users with the right people, applications, and information—to drive business efficiency and success.

IBM WebSphere Portal for insurance demo: With so many insurance companies to choose from, how can you stand out from the rest? Watch this demo to see how one insurance company did just that. By using IBM® WebSphere® Portal and related Lotus® software, their customers can now learn about products, file claims and much more; while their agents have access to the tools and resources they need.

 
 
Webcasts/Audio Conferences
Primary Care Physicians to Take Central Role in ACOs (October 21)
Physicians: Reimbursement and Retention (August 3)
A Better Way Than Pay For Call Coverage (July 15)
Marketing to Physicians: Increase Sales Success Through Measurement and Tracking (July 22)

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ACO-Bound? Consider the Financials First
In addition to the obvious costs of information technology, accountable care organizations require continuing expenses relating to reporting. What you may not realize is that ACOs also involve financial and legal risk related to forthcoming regulations. [Read More]