Economics

This channel highlights factors that impact hospital and healthcare economics and revenue. This includes news on healthcare policies, reimbursement, marketing, business plans, mergers and acquisitions, supply chain, salaries, staffing, and the implementation of a cost-effective environment for patients and providers.

Utilizing hospitals’ internal cost data could improve accuracy of new payment models

In an attempt to obtain greater accuracy on cost estimates, hospitals have developed their own internal systems to identify services with high and low profit margins and control spending. If what they’ve come up with is more detailed than what CMS uses, shouldn’t CMS be using that data?

Say what? Translator aims at medical terminology

Thanks to the expansion of electronic medical records and patient portals, individuals have more access to health-related data than ever. But complex medical language can often keep people from understanding much of it. To improve patients' comprehension, researchers have developed a translator of medical terminology.

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Massachusetts hospital blamed for Medicare underpayments in other states

Miscalculations by Nantucket Cottage Hospital in Massachusetts in wages and costs in 2015 resulted in Medicare paying all hospitals in the state $133 million more than it should—creating a chain reaction that resulted in hospitals around the country being underpaid by CMS.

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Pinnacle to affiliate with UPMC, buy 4 hospitals

Harrisburg, Pennsylvania-based Pinnacle Health announced it will more than double the number of hospitals within its system while also beginning an affiliation with the state’s largest health system, University of Pittsburgh Medical Center (UPMC). 

Mayo Clinic CEO: Prioritize the privately insured over Medicare, Medicaid patients

John Noseworthy, MD, the CEO of the Mayo Clinic, has told employees to give preference to patients with commercial insurance over those covered by Medicare or Medicaid, if the patients have equivalent conditions.

Skin tests, decision-making aids improve antibiotic use

Antibiotics such as penicillin and cephalosporin are vitally important to effective healthcare, but allergic patients miss out on the benefits. Researchers from Massachusetts General Hospital (MGH) and Brigham and Women's Hospital (BWH) conducted a study using penicillin allergy skin tests and computerized decision support tools to examine individuals who were previously labeled as allergic to penicillin.

Machine learning, AI are coming for healthcare

Machine learning and artificial intelligence (AI) are playing increasing large roles in technological developments in healthcare. Megan Williams, of Samsung Business Insights, examines how machine learning will impact the industry. 

Simplifeye delivers patient information to a physician's wrist with the Apple Watch

Catching up on patient information costs physician an extra 15 minutes, delaying direct care time and increasing wait times. As a way for clinicians to keep patient information close Zach and Ryan Hungate developed Simplifeye, bringing patient data to clinician’s wrists through an Apple Watch.

Around the web

Updated compensation data includes good news for multiple subspecialties. The new report also examines private equity's impact on employment models and how much male cardiologists earn compared to females.

When drugs are on the FDA’s shortage list, outsourcing facilities can produce their own compounded versions. When the FDA removed tirzepatide from that list with no warning, it created a considerable amount of chaos both behind the scenes and in pharmacies all over the country. 

If passed, this bill would help clinician-led clinical registries explore Medicare data for research purposes. The Society of Thoracic Surgeons and American College of Cardiology both shared public support for the bipartisan legislation. 

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