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Permanent Recovery Audit Contractors to be Announced in May

Written by Rob Kurtz
Thursday, 24 April 2008
With the recovery audit contractor (RAC) demonstration program ending this past March, CMS expects to name the new, permanent RACs by May, announced Kimberly L. Brandt, CMS program integrity director, at the Health Care Compliance Association’s Compliance Institute held in New Orleans.
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Medtronic to Buy Maker of Surgical Implant for Treatment of Sleep Apnea

Written by Stephanie Wasek
Thursday, 24 April 2008
Medtronic will purchase Restore Medical under an agreement in which Medtronic will pay $1.60 per share in cash for each share of Restore Medical stock. Restore Medical makes the Pillar Palatal Implant System, an innovative, minimally invasive, implantable device used to treat the soft palate component of sleep breathing disorders, including mild to moderate obstructive sleep apnea and snoring.
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Summit Partners Provides Equity Investment to Anesthetix

Written by Staff
Saturday, 19 April 2008
Anesthetix Management, a provider of hospital-based anesthesiology and pain management services to hospitals and ambulatory surgery centers, has accepted a minority equity investment from Summit Partners, a private equity and venture capital firm experienced in growing healthcare companies.
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CMS Issues 2008 Inpatient Prospective Payment System Proposed Rule

Written by Rob Kurtz
Tuesday, 15 April 2008
CMS has issued a proposed rule to update the inpatient prospective payment system (IPPS). Under this proposal, payment to hospitals is expected to increase by 3.3 percent on average.
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Major Chicago-Area Hospital to Close

Written by Stephanie Wasek
Monday, 14 April 2008
Citing mounting financial losses and having exhausted all other options -- including giving the hospital away for free -- SSM Health Care recently announced that it will close St. Francis Hospital and Health Center, located in the Chicago suburb of Blue Island, Ill. The hospital will remain open until SSM receives necessary approvals for its plans from the Illinois Health Facilities Planning Board and the state Department of Health.
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Novartis Takes First Step Toward Majority Ownership in Alcon

Written by Stephanie Wasek
Monday, 07 April 2008
Further strengthening its healthcare portfolio, Novartis will acquire a 25 percent stake in Alcon from Nestle with the right to take over majority ownership of the world leader in ophthalmic surgical supplies and equipment, the companies announced April 7.
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Non-Profit Hospitals Out-Earning For-Profits

Written by Stephanie Wasek
Monday, 07 April 2008
Thanks to large tax breaks, "riding the gains from investment portfolios and enjoying the pricing power that came from a decade of mergers," non-profit hospitals, which make up the majority of U.S. hospitals, are largely and significantly outperforming for-profit hospitals, reports the Wall Street Journal in its April 4 edition.
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Medicare Releases Payment, Volume, Patient Opinion Data on Hospital Compare Web Site

Written by Stephanie Wasek
Tuesday, 01 April 2008
CMS has publicly released hospital volume and payment data along with the results of the first national, standardized, publicly reported survey of patients' perspectives of hospital care. The details of the Hospital Consumer Assessment of Healthcare Providers and Systems, a standardized survey instrument and data collection methodology for measuring patients' perceptions of their hospital experience, is posted at Medicare's Hospital Compare Web site. The data, which covers more than 2,500 hospitals nationwide, are searchable by hospital name, city, zip code, state and county.
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South Carolina BlueCross Expands Colonoscopy Coverage; New National Screening Guidelines Issued

Written by Rob Kurtz and Stephanie Wasek
Monday, 17 March 2008
BlueCross BlueShield of South Carolina will now cover preventive colonoscopy screenings once every 10 years for all its fully insured members 50 and older, the insurer announced.
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