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.

Obama Admin: $20B in payment errors avoided, new pilots launched

Overall, $17.6 billion in improper payments were prevented in 2011, as part of President Barack Obama Administrations Campaign to Cut Waste, fueled by decreases in payment errors in Medicare, Medicaid and food stamps. Combined with the improper payment cuts in 2010, agencies have avoided making more than $20 billion in improper payments in the two years since Obama issued an executive order initiating an aggressive campaign against wasteful payment errors, according to the Office of Management and Budget.

CDC now tracking antibiotic use in hospitals

The Centers for Disease Control and Prevention (CDC) is launching a new antibiotic tracking system allowing hospitals to monitor antibiotic use electronically, make better decisions about how to improve use and compare themselves to other hospitals. Before now, CDC was only able to track antibiotic use in physician practices.

McGraw: Public trust must be established to allow for more IT adoption

To establish greater public trust in health IT and health information exchanges (HIEs) and facilitate adoption of these technologies, a comprehensive privacy and security framework must be in place, Deven McGraw, director of the Health Privacy Project at Center for Democracy & Technology (CDT), stated before the Senate Committee on the Judiciary Subcommittee on Privacy, Technology and the Law.

IOM: HHS needs to up health IT safety plan; FDA may step in

The secretary of the U.S. Department of Health and Human Services (HHS) should publish a plan within 12 months to minimize patient safety risks associated with health IT and report annually on the progress being made, according to a new report by the Institute of Medicine (IOM).

HHS lights up HIPAA audit program

This month, the Department of Health and Human Services (HHS) Office for Civil Rights (OCR) will commence performing HIPAA audits for a new pilot that will use the audit program to assess HIPAA compliance efforts by a range of covered entities.

Grassley not pleased with HRSA, requests immediate briefing

Sen. Charles E. Grassley (R-Iowa) has thrown the hammer down in his vendetta against the Health Research and Services Administration (HRSA) in a letter to Kathleen Sebelius, Secretary of the U.S. Department of Health and Human Services concerning HRSAs decision to shut down public access to the National Practitioner Data Banks Public Use File.

Software glitch causes prescription error across R.I.

Lifespan, a five-hospital system based in Providence, R.I., reported to the R.I. Department of Health its discovery and correction of an issue with software used to generate medication instructions provided to discharged patients from Rhode Island Hospital/Hasbro Childrens Hospital, Miriam Hospital, Bradley Hospital and Newport Hospital.

Stolen hard drive affects 16,288 UCLA patients

During a home invasion, an external computer hard drive that contained some personal information on 16,288 University of California Los Angeles (UCLA) Health System patients was stolen.

Around the web

The American College of Cardiology has shared its perspective on new CMS payment policies, highlighting revenue concerns while providing key details for cardiologists and other cardiology professionals. 

As debate simmers over how best to regulate AI, experts continue to offer guidance on where to start, how to proceed and what to emphasize. A new resource models its recommendations on what its authors call the “SETO Loop.”

FDA Commissioner Robert Califf, MD, said the clinical community needs to combat health misinformation at a grassroots level. He warned that patients are immersed in a "sea of misinformation without a compass."

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