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March 17, 2010

Brand-name drug prices are rising in 2010

A Kaiser Family Foundation analysis finds that prices for commonly used brand name drugs are rising in 2010.

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Current Issue

March 2010

March 2010

  • Convergence or perfect storm?
  • Providers question MedPAC recommendations
  • Medical banking gets HIMSS treatment
  • MORE
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Featured Video

Industry News January 09
Comparative effectiveness research explained
Ellen-Marie Whelan discusses evidence-based healthcare and how it can improve care in this video from the Center for American Progress.
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Featured Podcast

Industry News January 13
Hospitals using Lean and Six Sigma
James Levett, MD, is chairman of the American Society for Quality's healthcare division and chief medical officer for The Physicians' Clinic of Iowa. In this interview with Healthcare Finance News Editor Richard Pizzi, Levett discusses how U.S. hospitals are beginning to embrace Lean and Six Sigma business management strategies to reduce costs and improve productivity.
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Upcoming Events

  • March 10, 2010
    The World Health Care Congress Health Plan Innovation Congress
  • March 25, 2010
    Health Technology Investment Forum
  • March 30, 2010
    3rd Annual Middle East Healthcare Expansion
more events
CMS won't enforce 'direct supervision' policy for critical access hospitals
The Centers for Medicare & Medicaid Services has instructed Medicare contractors not to evaluate or enforce the "direct supervision" requirement for therapeutic services furnished in calendar year 2010 to outpatients in critical access hospitals. MORE
New AMA tool to help doctors correct managed care contracts
A new online resource from the American Medical Association is designed to help physicians who are seeking alternatives to one-sided contracts offered by some managed care organizations. MORE
California hospitals end affiliation talks
Affiliation discussions have ended between Los Angeles-area-based Downey Regional Medical Center and the five-hospital Daughters of Charity Health System. MORE
GE gives $1M to 4 Milwaukee health centers
The GE Foundation and the GE Corporate Diversity Council have awarded $1 million to four Milwaukee community healthcare centers to increase access to primary care for uninsured and underserved populations. MORE
P4P models could improve medical professionalism
Hospital CEO turnover rate increases
HHS announces $162 million in 16 state HIE grants
New MedAssets program helps providers with construction projects
Vendor Notebook: Craneware, Inc., signs contract to deploy new toolkit
Mayo Clinic’s debt rating improves
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Blog

March 17, 2010 Effect Measure

The CDC today

When Thomas Frieden took over as CDC Director less than a year ago, I didn't know what to think. The CDC is an agency under a lot of budget stress and choices have to be made. MORE
March 12, 2010 Ed Howe

An uncertain future for Medicare patients

In recent months the Mayo Clinic announced their primary care facility near my home in Phoenix would no longer be accepting Medicare. Then the fun began. MORE
March 11, 2010 Stephanie Cohen

Life in the trenches of the health insurance business

This month’s health insurance nightmare: You believe the cost of your policy is too high and the benefits too low. MORE
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Press Releases

March 17, 2010
LifePoint Hospitals announces 10b5-1 plan to facilitate share repurchase
March 17, 2010
Massachusetts physicians deploy MedAptus for charge capture automation
March 17, 2010
Ontario Systems announces strategic alliance with State Collection Service, Inc.
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Most Popular

  • HealthGrades names America's 50 best hospitals for 2010
  • Chronic conditions drive Medicare spending growth
  • Survey: Over 26 percent of solo docs may close their practices
  • Creative payment reform initiatives abound nationwide
  • Analysis: Medical malpractice payments continue to fall
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Resource Central

  • White Papers
    Validation process and compliance support with IBM Maximo Asset Management in regulated industries
  • White Papers
    How Health Plans Can Gain Clarity, Efficiency and Opportunity with Integrated Clinical, Contract and Fraud Management
  • White Papers
    Determining Hedge Effectiveness for State and Local Governments Under GASB 53
  • Web Seminars
    Web Seminar on March 16 @ 1 pm ET--Connecting the Disconnected: How Health Plans Can Align Payments with Care Provided
  • Videos
    Karen Davis testifies on competition in health insurance
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HEALTHCARE FINANCE JOB SPOT

  • Director of Patient Financial Services - Vista Health System - Waukegan, Illinois
  • Epic Business Systems Analyst Ambulatory Practice Management Revenue Cycle - Lee Memorial Health System - Fort Myers, FL
  • Healthcare Consulting Partner/Leader Performance Improvement, Healthcare Finance and Operations - Tatum - Chicago and Dallas
  • Chargemaster - Cheshire Medical Center - NH
  • System Coding Auditor - Saint Joseph Health System - Lexington, KY
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Recent Comments

  • American families have
    Katleeyn

    American families have struggled to find affordable health coverage over the past five years. Rising health care costs are straining family budgets, forcing employers to drop or scale back health insurance for their workers, increasing the number of uninsured Americans, and impeding access to health care services necessary to maintain health and preserve life. The recent economic downturn and persistent increases in the cost of health insurance premiums has contributed to the recent growth in the uninsured. Now, it seem that on Roxanne Spillett is the only one insured in this unstable economy.

  • Impact on Texas with TORT REFORM
    Dr Dave

    Good for Business

    The passage of medical liability reforms in Texas had physicians poised to reap long-awaited financial relief. In January 2004, TMLT cut premiums 12 percent. Other carriers subsequently followed suit, and more medical liability insurance companies entered Texas, eager to sell policies to physicians.

    "The results of tort reform have been absolutely amazing," said David Teuscher, MD, chair of TMA's Committee on Professional Liability. "I don't think anyone in their right mind would have testified four-and-a-half years ago that if we pass this, you'd see physicians' insurance rates drop in half and the number of carriers multiply eightfold."

    In 2003, four medical liability insurance carriers were doing business in a state that now boasts more than 30. TMLT was one of the four insurance carriers that not only endured the tort reform battle, but was instrumental in supporting Proposition 12. In 2002, TMLT helped create TAPA; its 200 members fought to pass the crucial legislation. TMLT has worked ever since to achieve meaningful tort reform and to preserve it through ensuing legislative sessions.

    "Some of our competitors today who are enjoying the new, more reasonable legal environment weren't even around in 2003 when the battle for tort reform was won by TMA and the members of TAPA," said Bob Fields, TMLT's chief executive officer.

    With a current policyholder count of 14,224, TMLT insures more physicians in Texas than any other carrier and has reduced rates four times: 12 percent in 2004, 5 percent in 2005 and 2006, and 7.5 percent this year. Policyholders will also receive a 20-percent dividend this year.

    Since 2003, TMLT has reported a premium savings of nearly $139 million and has returned dividends of 25 percent, amounting to nearly $45 million. These dividends were declared in 2005 and 2006 for return to policyholders in 2006 and 2007. And claims intake has dropped. (See "TMLT Claims Intake, 2000-06.")

    TMLT isn't the only company decreasing premiums. Last year, Advocate MD reduced premiums 19.9 percent, The Doctors Company cut premiums 18 percent, and Medical Protective lowered them 13 percent. American Physicians Insurance Company lowered premiums twice – by 5 percent and 13 percent – in 2005. The same year, the Joint Underwriting Association cut premiums 10 percent.

    Getting in on the action in Texas' medical liability insurance sector was Austin-based Medicus Insurance Company, which began writing policies in September 2006. Charles Bailey, MD, was TMA president in 2003 and is now vice president of medical relations for Medicus.

    "Increased competition is without a doubt exactly what we were all hoping for when we got tort reform passed," Dr. Bailey said. "The result of Medicus coming into the state has been that, as we've quoted rates to different physicians with existing carriers, the carriers almost uniformly have lowered their rates to become competitive with us."

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