CEO confidence in the U.S. economy is at an all-time low, according to The Conference Board's latest quarterly report. The survey of about 100 business leaders in a wide range of industries declined to its lowest level since The Conference Board began the survey in the second quarter of 1976. Twenty-four of the 100 executives surveyed said they felt confident about the current economic situation in the fourth quarter of 2008, down from 40 in the third quarter.
Two years after opening, Progress West HealthCare Center in O'Fallon, MO, will expand with a new medical office building that will bring more general physicians and specialists to the facility. Construction of the 60,000-square-foot office building is expected to be completed by the second quarter of 2010. The new medical facility at the 72-bed hospital will provide additional outpatient services such as therapy, cardiac care, and imaging, officials said.
Wake Forest University Baptist Medical Center has appealed a state decision to grant conditional approval to Novant Health for a new hospital in Clemmons, NC. In December, North Carolina regulators conditionally approved Novant's plans for a 50-bed, $96 million hospital in Clemmons. State officials in August had previously granted conditional approval to Wake Forest Baptist to build a new 50-bed, $100 million replacement for Davie County Hospital less than five miles away in Advance.
Omnicare Inc. came out on the short end of a dispute with UnitedHealth Group, which it claims has cost it millions of dollars in lost reimbursement. The U.S. District Court for Northern Illinois granted a summary judgment in favor of UnitedHealth. Omnicare sued UnitedHealth, PacifiCare Health Systems Inc. and RxSolutions Inc. in 2006 , claiming the health insurer and its subsidiaries conspired to cheat the company out of Medicare Part D reimbursement.
Facing what it says could be losses of more than $1 billion through 2011, Blue Cross Blue Shield of Michigan said it will cut as many as 1,000 jobs and seek state approval to raise rates on its individual health insurance products. The average rate hikes to be sought by Blue Cross are 55% for nongroup plans; 32% for Medicare Supplemental, or Medigap, products, and 42% for those with group conversion plans that carry over prior workplace coverage.
More employers are offering workers financial incentives—worth hundreds of dollars in some cases—to take steps to improve their health and stem the rising cost of their care. Seth Serxner, a senior consultant at benefits firm Mercer, says companies began such efforts a few years ago with modest incentives simply for completing health risk questionnaires. Now some have boosted rewards but require workers to do more to get them. Hospital giant HCA, for example, in April began offering diabetic workers in the corporate offices $400 a year toward medical costs if they go to 10 counseling sessions with diabetes educators.