While it definitely matters for healthcare who leads the White House and Congress, at this particular moment in history perhaps it matters less than you might think, says Sg2 Vice President Stephen Jenkins. He says that regardless of who was elected, a certain set of facts remain, including Medicare is in deep fiscal trouble and the national economy is swooning. These facts not only suck the political air away from other policy issues, but will be a persistent drag on tax revenues for years to come.
Charleston (SC) Memorial Hospital is closing, with most of its functions to be absorbed by the Medical University of South Carolina Hospital. Medical director Patrick Cawley said the emergency department will be absorbed into the main university hospital, while other clinical functions will move to the Ashley River Tower hospital.
Protests by firms that submitted bids for the Centers for Medicare and Medicaid Services Recovery Audit Contractor program but weren't among the final four permanent auditors selected have thrown RAC into a 100-day hiatus. The two unsuccessful bidders—Vaperville, IL-based Viant and Atlanta-based PRG-Schultz International—have filed protests with the Government Accountability Office.
About 80% of Americans say they fear the ongoing global financial meltdown might affect their ability to pay their medical bills, according to a poll by the Deloitte Center for Health Solutions.
The survey of more than 4,000 U.S. adults found that only 6% believe their family is completely ready to handle future medical costs, and about 70% say the financial turmoil will make it harder for the uninsured to receive medical care.
As Tenet Healthcare Corp. shares sank to another all-time low November 5, the company's chief executive purchased 100,000 shares at an average cost of $2.68 each. Chief Operating Officer Stephen Newman purchased 30,000 for $2.50 each and general counsel Gary Ruff purchased 10,000 shares for $2.55 each. The moves came a day after the hospital operator posted disappointing third-quarter results and lowered a key full-year earnings target, citing declines in admissions of patients with commercial health plans.
Experiencing fewer births and more poor patients on Medicaid, Sunrise, FL-based Pediatrix Medical Group's third-quarter profits fell 5.5% to $37.4 million, or 81 cents a share. Acquisitions of neonatal and anesthesia practices in the past year pushed revenue higher, to $267.2 million. Patient volume in neonatal intensive care units, Pediatrix's core business, declined 3.4% in the quarter. CEO Roger Medel said women are "simply having fewer babies."