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.

Feature: Looking to transform costs? Start with DES use

As innovation within the healthcare industry booms, costs continue to soar. Physicians must now be asking themselves: how can we break that cycle? A study published online July 9 in the Archives of Internal Medicine offered a solution when it looked at how reducing drug-eluting stent (DES) use could lead to lower U.S. healthcare costs. In fact, researchers estimated that reducing DES use by 50 percent in low-risk patients could lower U.S. healthcare costs by $205 million per year.

Compensation Outlook: Its No Small Change

The fee-for-service payment model has drawn fire in recent years for rewarding volume rather than value. The Relative Value Unit (RVU) that serves as a foundation for many physicians compensation also has landed in the cross hairs of critics who argue its use encourages doctors to perform more procedures, regardless of need. Cardiologists have fared relatively well under this system, but with the growing emphasis on patient-centered and quality care, this payment model likely will change. And so may compensation.

Predictions & Public Policy

Sometimes the best-intentioned public policy decisions have unintended consequences. Fee-for-service may be a case in point.

Chasing the ACO Unicorn

There are many models and scopes of accountable care organizations (ACO). Addressing standardization obstacles and working toward clinical integration are just two of the challenges standing in the way of success.

ACC to CMS: Rework inpatient payment system

The American College of Cardiology (ACC) has put in its two cents to the Centers for Medicare & Medicaid Services (CMS) about the Hospital Inpatient Prospective Payment Systems for Acute Care Hospitals for 2013, urging CMS to rework some of its proposed rules, such as dismembering the implementation of a hospitalwide 30-day readmission measure.

Bill to kill med device tax sails to House victory. Now what?

To nobodys surprise, the U.S. House of Representatives has passed Minnesota Republican Erik Paulsens bill to repeal the 2.3 percent excise tax on medical devices set to kick in next January as part of the Patient Protection and Affordable Care Act.

MedAxiom: Physicians, admin must partner to reform care

CHICAGOAs the world of cardiovascular care continues to transform, hospital administrations constantly look for ways to remain financially viable; however,  the most difficult task may be getting physicians to help share in cost-saving responsibilities. Reginald Blaber, MD, of Lourdes Health System in Camden, N.J., said physicians won't come on board until they know exactly how change will impact quality.

Stroke: Optimal care could lop millions from costs annually

The Canadian healthcare system could avoid annual costs of up to $682 million CAD ($662.4 million USD) if it followed a comprehensive and optimal stroke management regime, according to a study published online May 24 in Stroke. The authors encouraged healthcare decision makers to use the results to guide investments in stroke care systems in Canada and elsewhere.

Around the web

GE HealthCare said the price of iodine contrast increased by more than 200% between 2017 to 2023. Will new Chinese tariffs drive costs even higher?

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.