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."
A federal grand jury indicted a Massachusetts man for allegedly scamming about $1.4 million from Medicare. Kingsley Tochukwu Eze, the owner and director of Kings Enterprize in Quincy, MA, was indicted on 14 counts of healthcare fraud, two counts of aggravated identity theft, and a single charge of making a false statement. Eze allegedly submitted false Medicare reimbursement claims for durable medical equipment in 2006 and 2007, according to the indictment.
A laptop computer containing limited health information on 100,000 patients was stolen from a Baylor Health Care System Inc. employee's car in September, a representative from the Texas-based system announced. A letter is being sent to the patients, including 7,400 whose Social Security numbers were stored on the computer.
As of late Wednesday, Nov. 5, Arizona's Proposition 101, which would block the state from requiring everyone to get health insurance, is still up for grabs. The vote is virtually tied: 865,286 vote for and 867,425 vote against, with 99.1% of polls reporting, according to the Secretary of State.
The Western Massachusetts healthcare network that runs Baystate Medical Center in Springfield says a $37 million projected shortfall is forcing it to cut 55 jobs and eliminate 120 vacant positions. Baystate Health will also enact a hiring freeze for non-clinical positions and wait until the economy improves before moving ahead with financing for a major expansion. Baystate representatives said the network has been hit hard by the economic downturn, reductions in Medicaid reimbursements, and falling numbers of patients.
With Barack Obama heading to the White House, Massachusetts' experiment with near-universal healthcare suddenly takes on new meaning as a potential model. Obama has touted an affordable, universal coverage plan that draws heavily from Massachusetts' 2006 law, which requires most employers to offer insurance or pay a penalty, expands subsidies, and provides more coverage choices.
Some healthcare analysts and leaders in the business and insurance industries say Massachusetts' experience offers tangible proof that overhauling a massive system is possible. But, they warn, the political and financial challenges state leaders have faced may pale in comparison to what lies ahead for the federal government.
