Retail clinic revenue to hit $4.5 billion by 2011
Retail medical clinics could realize revenues of nearly $4.5 billion by 2011, according to a new report by market research firm Kalorama Information. Retail Clinics: The Emerging Market for Convenience Clinics and In-Store Healthcare reveals that revenues for retail clinics were slightly more than $121 million in 2006. Kalorama predicts that intense market growth over the next four years will drive revenues into the billions of dollars, making retail clinics a viable investment. Store-based medical clinics have grown in popularity in recent years, as they generally offer significant discounts over similar services performed by doctors and hospitals.
HHS proposes standards for voluntary e-prescribing
Proposed new standards for electronic prescribing by the Department of Health and Human Services will be optional for physicians and pharmacies, but Medicare will require drug plans participating in the Medicare Part D program to abide by the standards if they choose to send or receive prescriptions electronically. The standards follow the Nov. 13 meeting of the American Health Information Community, where members discussed the likelihood of widespread e-prescribing adoption by physicians and others called for the government to force e-prescribing. Centers for Medicare & Medicaid Services Acting Administrator Kerry Weems said the agency cannot force doctors to use e-prescribing without a change in the laws.
AMA seeks new insurance plan for high-risk patients
A new code for health system reform that challenges current methods to collectively finance the care of high-risk patients was endorsed during the semi-annual policy-making meeting of the American Medical Association. Physicians called for an entirely different approach to safeguarding affordable insurance coverage for high-risk patients, which concentrates on direct financial assistance, rather than the customary indirect methods that rely heavily on market regulation. Changing the approach would re-direct insurers’ financial incentives that encourage “cherry picking” healthy low-cost individuals over sicker high-cost individuals. Because risk-based subsidies can be financed with general tax revenue, rather than insurance premium revenue, health insurers will be able to offer lower premiums and affordable coverage to low-income patients – a group that makes up a large share of uninsured Americans.