Medicare part D drug premiums to rise in ’08
Medicare Part D plan premiums will rise slightly in 2008 to an average of $25, up from about $22 in 2007, the Centers for Medicare & Medicaid Services has announced. CMS emphasized that the rise in premiums is a result of “technical adjustments required by law” and does not reflect the bidding process undergone by health and prescription drug plans. The $25 average is nearly 40 percent lower than the original 2003 premium estimates for 2008.
Date: 08/16/07
Federal report shows how to make EHRs cost-effective
The Office of the National Coordinator for Health Information Technology (ONC) suggests methods for clinicians to make electronic health records more efficient and improve billing accuracy in a report released Aug. 9. The recommendations include methods for strengthening audit functions, improving patient verification and reducing the likelihood of inaccurate payments.
Date: 08/15/07
Insurance rating company to expand to healthcare
The A.M. Best Company will rate U.S. hospitals and healthcare systems, beginning with provider-owned health plans, the company announced Aug. 9. Market demand has led A.M. Best into health plan ratings, said Senior Financial Analyst Christian Miles. The company has been rating insurance companies for 108 years, and currently rates some 650 insurance companies and 18 groups of health plans. According to Miles, A.M. Best ratings can be used by health systems and hospitals to boost their branding image, establish a positive reputation in the community and garner support for expansion efforts.
Date: 08/13/07
Onex earnings bolstered by healthcare business
The Onex Corp.’s recent healthcare industry transactions have helped steer the Canadian conglomerate into strong financial standing. The company announced that its revenues for the second quarter are up 27 percent, or $1.2 billion, over the same period last year. In April, Onex acquired the Eastman Kodak Company’s Health Group for $2.55 billion. The resulting firm, Carestream Health, contributed to Onex’s growth in annual revenues. Onex also recently sold portions of its shares of interest in Skilled Healthcare Inc., generating more than $40 million in proceeds.
Date: 08/10/07