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.

Time to tackle wasteful practices

We haven’t reached the winter solstice yet, but it looks as if healthcare already is in need of some spring cleaning. When it comes to waste, why wait?

Simplifying admin tasks could save $29K per doc annually

Healthcare administrative costs amount to $361 billion every year, and some of those expenses could be eliminated through standardization of coverage, claims processing, credentialing and EHRs, according to an article in the Nov. 15 issue of the New England Journal of Medicine.

P4P: Brits tweak U.S. model + find success

Implementing a pay-for-performance program that was modeled after an incentive initiative in the U.S. resulted in a significant reduction in mortality at 24 hospitals in northwest England, according to a study published Nov. 8 in the New England Journal of Medicine.

CBO: Keeping physician fees as is aids GDP

Keeping Medicare payments to physicians at present levels and eliminating discretionary and mandatory spending reductions that are scheduled to start in January would boost the gross domestic product (GDP) by about three-quarters of a percent by the end of 2013, the Congressional Budget Office (CBO) estimated in a November report.

AHA: Elective PCIs cost more at hospitals with no onsite cardiac surgery

The cost of treating patients who received elective PCI at hospitals with no onsite cardiac surgery exceeds the cost for similar care at hospitals with on-site cardiac surgery, according to a substudy of the CPORT-E trial, presented Nov. 4 as a late-breaking clinical trial at the American Heart Association (AHA) scientific sessions in Los Angeles.

CMS fee schedule favors PCPs, and cardiologists face cuts

The Centers for Medicare & Medicaid Services (CMS) has released final rules with changes in Medicare’s payment of physician fees, including what the American College of Cardiology described as cuts to “important cardiovascular services.”

AHA sues HHS over rescinded pay for services, like caths

The American Hospital Association (AHA) and four hospital systems are suing the U.S. Department of Health and Human Services (HHS) over rescinded Medicare reimbursement for services, such as cardiac catheterizations.

Fiscal incentives may flop if docs perceive roadblocks

Does it pay to use financial incentives to try to improve the quality of care in hospitals? Possibly not, if physicians perceive factors such as patient nonadherence as being beyond their control, according to one study in the October issue of the American Journal of Managed Care.

Around the web

Several key trends were evident at the Radiological Society of North America 2024 meeting, including new CT and MR technology and evolving adoption of artificial intelligence.

Ron Blankstein, MD, professor of radiology, Harvard Medical School, explains the use of artificial intelligence to detect heart disease in non-cardiac CT exams.