Posts Tagged ‘Healthcare’
Tuesday, September 8th, 2009
Medicare gives patients more choice, and a greater range of free-market options than does private insurance. While Medicare has had its financial challenges, it is an example of a government-run program that gives patients choice. Sometimes, private insurers refuse to include physicians in their plans; Medicare does not exclude physicians.
The insurance companies insist the idea of healthcare reform to include a public option – such as Medicare – but it’s important to look at the facts that includes a government-run plan. According to a recent article in Mother Jones magazine, “Survey results demonstrate that Medicare beneficiaries are less likely than those with private coverage to 
report negative experiences with their insurance plans – including having expensive medical bills for non-covered services, being charged a lot more than insurance would pay, and physicians not taking their insurance.”
According to a study by the Commonwealth Fund, 37 percent of Medicare patients are completely satisfied with their coverage and report few problems accessing and paying for healthcare. Only 20 percent of people with employer provided plans reported the same level of satisfaction.
One argument often used against the public health plan option is the following: I want to choose my own doctor, and I don’t want a government bureaucrat making that decision. That’s wrong. Under private healthcare plans, your only choice is to pick a doctor who has negotiated costs with your insurance company. Doctors unwilling to negotiate are excluded.
In seeing the way the healthcare debate has been framed, perhaps the administration would have been better off describing the proposed reform as the extension of Medicare to the entire population.
A public health plan option will not introduce a bureaucracy into healthcare; that bureaucracy already exists.
Tags: doctor, financial risk, Healthcare, healthcare insurance, Medicare, Medicare beneficiary, patient, patients, physicians, private insurance
Posted in Healthcare | No Comments »
Thursday, July 23rd, 2009
In an environment where flat is the new up in the world of commercial real estate, medical office buildings are performing better than other properties. In May, Industry Insights published two papers written by the Houston-based investment firm, Cain Brothers, which stated that this is a good time for health systems to sell real estate assets to raise needed cash.
Make no mistake, medical office building values are showing some slippage. “We’re seeing values go down, but nowhere near what is going on with traditional office buildings,” said Tom Dalcolma, a partner in Street Sotheby’s Medical Realty Advisors.
A Real Capital Analytics study performed in May found that three percent of commercial office buildings were in bankruptcy, foreclosure or some form of distress. Only one percent of medical office buildings were in similar straits. Medical office building sales volume fell 20 percent over the past 12 months, compared with 51 percent for other office buildings. The report concludes: “Medical office properties have proven to be a safe haven, and this niche has little trouble.”
Interest in medical office buildings is growing because investors recognize that healthcare spending is not being impacted as harshly as the rest of the economy. As minor medical procedures move from hospitals to offices, the demand for new facilities is increasing. There were 600 million outpatient visits last year. And that will only increase as the population swells by 45 million during the next 10 years.
Tags: bankruptcy, Cain Brothers, commercial real estate, distress, economy, foreclosure, health systems, Healthcare, Houston, investor, medical office, office building, Real Capital Analytics, real estate assets
Posted in Healthcare, Hospital Systems | 1 Comment »
Wednesday, July 22nd, 2009
The House of Representatives has proposed a $1.5 trillion package that would make healthcare coverage a right and a responsibility for all citizens. If passed, medical providers, employers and the wealthy would pick up the tab. The United States is the only developed nation that lacks healthcare coverage for all citizens, and approximately 50 
million people do not have access to insurance.
“We cannot allow this issue to be delayed. We cannot put it off again,” says Representative Henry Waxman, a California Democrat and chairman of the House Energy and Commerce committee. “We quite frankly cannot go home for a recess unless the House and the Senate both pass bills to reform and restructure our healthcare system.”
President Obama is promoting healthcare reform every chance he gets. In a Michigan speech about spending for community colleges, he said, “There’s going to be a major debate over the next three weeks. And don’t be fooled by folks trying to scare you saying we can’t change the healthcare system. We have no choice but to change the healthcare system because right now it’s broken for many Americans.”
Organizing for America – Obama’s campaign organization – is launching a series of 30-second television ads on healthcare reform that will air in Washington D.C., on cable networks nationally and on local stations in eight states. The ads depict ordinary citizens telling their stories about problems with the current healthcare system.
Tags: American, Democrat, Healthcare, healthcare reform, healthcare system, House Energy and Commerce committe, insurance, medical providers, Michigan, Obama campaign, President Obama, Senate, United States, Washington DC
Posted in Economics, Healthcare, Hospital Systems | No Comments »
Tuesday, July 21st, 2009
A crucial Senate committee has approved legislation to reform the nation’s healthcare system. This is significant because it marks the first time the committee has acted on legislation to fulfill President Obama’s goal of reshaping how healthcare is paid for in the United States.
Specifically, the Health, Education, Labor and Pensions Committee voted 13 – 10 — along strict party lines — to endorse a $600 billion measure to expand coverage to virtually all Americans by requiring individuals to get insurance with their employers contributing to the cost. If enacted into law, the legislation would provide federal aid to families and individuals who make less than four times the poverty level – approximately $88,000 for a family of four.
The committee’s chairman, Senator Ted Kennedy of Massachusetts, missed the vote because of his ongoing treatment for brain cancer. Even though Senator Kennedy is acting behind the scenes in the push to pass this legislation, he remains one of the prime movers for enacting healthcare reform.
Tags: brain cancer, education, federal aid, health, Healthcare, healthcare reform, labor, legislation, Massachusetts, Pension Committee, President Obama, Senate, Senate committee, Senator Kennedy, Senator Ted Kennedy, United States
Posted in Economics, Healthcare, Hospital Systems | No Comments »
Tuesday, July 21st, 2009
The Republican National Committee’s (RNC) response to the Obama Administration’s and Congressional Democrats’ efforts to pass healthcare reform legislation was to sponsor a “Hillarycare revisited” fund raising effort.
The RNC warned against “Obamacare” and pointed out that the government “already run
s car companies, banks and mortgage companies. Republicans believe that the last thing the American people want is government telling them when and where – or even whether – they can get medical treatment for their families.” “Hillarycare” refers to former President Bill Clinton’s failed attempt at reforming healthcare during the 1990s, an effort led by his wife, Hillary Clinton.
Republicans like John Boehner (R-OH) have raised the specter of a “bureaucrat standing between you and your doctor.” Perhaps it’s worth considering that we currently have an insurance company bureaucrat performing the same role. Also, government administered health options are almost uniformly popular. The World Health Organization ranks France’s healthcare system as the world’s finest, contrasted to the United States, which scored 37th. The United Kingdom’s combination of publicly and privately funded healthcare ranked 18th in the World Health Organization’s survey.
Tags: American, banks, bureaucrat, car companies, Congressional Democrats, doctor, France, government, government administered health, Healthcare, healthcare reform, healthcare system, Hillary Clinton, Hillarycare, insurance company bureaucrat, John Boehner, legislation, mortgage companies, Obama administration, Obamacare, President Bill Clinton, R-OH, Republican National Committee, Republicans, RNC, United Kingdom, United States, WHO, World Health Organization
Posted in Economics, Healthcare, Hospital Systems | No Comments »
Thursday, July 9th, 2009
In an era when healthcare costs are projected to rise to $4 trillion by 2016, it’s heartening to know that one of the nation’s highest-rated hospitals has some of the lowest costs. The Cleveland Clinic is regularly consulted by lawmakers and officials from the Obama Administration in their efforts at achieving healthcare reform – yet it operates more efficiently than most of its competitors.
“Everything we do is done with the patient at the center, not the doctor at the center,” said Dr. Steven Nissen. One way the Clinic provides exceptional care at reasonable cost is by using a model in which medical professionals practice side-by-side rather than in separate and — frequently — competitive departments.
President Barack Obama gave kudos to the Cleveland Clinic for its success. “Without a serious, sustained effort to reduce the growth rate of health care costs, affordable healthcare coverage will remain out of reach. So we must attack the root causes of the inflation in healthcare. That means promoting the best practices, not simply the most expensive. We should ask why places like the Mayo Clinic, the Cleveland Clinic, and other institutions can offer the highest quality care at costs well below the national norm. We need to learn from their successes and replicate those best practices. That’s how we can achieve reform that preserves and strengthens what’s best about our healthcare system, while fixing what is broken.”
As part of its road to excellence, the Clinic also promotes employee wellness. It doesn’t hire smokers; it sponsors a farmers’ market at its main campus, stocks its cafeterias with healthy foods and conducts yoga classes for patients and employees.
Tags: Healthcare, healthcare costs, healthcare coverage, healthcare reform, lawmakers, Mayo Clinic, medical professionals, Obama administration, President Bar, The Cleveland Clinic
Posted in Economics, Healthcare, Hospital Systems | No Comments »
Wednesday, June 24th, 2009
Now is the time for healthcare providers to take a proactive approach to the well-being of their respective communities and target markets. The American Recovery and Reinvestment Act (ARRA), signed into law by President Obama on February 17, contains $1 billion for the new Prevention and Wellness Fund. This Fund will make available resources for funding immunization programs; infection prevention programs; and the prevention of 
chronic diseases such as high blood pressure, diabetes and heart disease. Based on statistics provided by the Center for Disease Control and Prevention, more than 70 million people in the United States (approximately 25 percent of our total population) live with cardiovascular disease. Wellness programs have a direct impact on the prevention of these diseases and will be an important components of any preventative program.
Healthcare providers have historically been hesitant to invest in wellness and fitness centers due to the capital resource requirement and uncertain return on investment. With careful planning and strategic development, these facilities can bring a substantial new revenue stream into the organization. Skeptics may point to the Medical Fitness Association, which reports that in 2008 there were approximately 950 medically based wellness and fitness centers in the United States, with one-third reporting operating losses.
While such risks do exist, investing in wellness facilities and programs that directly address the prevention of chronic disease have the potential for more than satisfactory financial results. If managed with a clear direction, thought and competence, these facilities can provide a financial return far more attractive than the equities market has offered in the recent past. The resources allocated to fight chronic disease will come back tenfold in cost reductions over the long term.
Now is the time to invest in the well-being of our future. We should not wait for another opportunity like the one Congress and President Obama have provided. We need to take advantage of this now.
Tags: American Recovery and Reinvestment, ARRA, capital, cardiovascular disease, Center for Disease Control and Prevention, chronic diseases, Congress, diabetes, equities market, financial return, fitness centers, Healthcare, healthcare providers, heart disease, high blood pressure, immunization programs, infection prevention programs, law, Medical Fitness Association, President Obama, prevention, prevention program, revenue, strategic development, target markets, United States, US, wellness programs
Posted in Healthcare, Healthcare Village, Wellness Centers | No Comments »
Thursday, June 18th, 2009
Congress is drafting historic legislation intended to restructure the American healthcare system. At a time when healthcare costs total $2.4 trillion annually (an average of $7,868 per person), are projected to rise to $4 trillion by 2016 and 46 million Americans lack any insurance coverage, the legislation is badly needed. According to a draft outline, the legislation might call for mandatory insurance requirements, which could conceivably be sold either through a national or state-based exchange. The bill is also likely to include a government-backed plan to control 
costs.
The Joint Committee on Taxation opined that the size of the savings might fall under several taxation arrangements, which could be essential in determining how to pay for the reform bill. The legislation includes an opportunity to drop the Sustainable Growth Rate formula, which is perceived by many as fatally flawed.
The legislation also will bring provider payments into line with recommendations from the Medicare Advisory Payment Commission, and allow payment alternatives for healthcare systems that offer coordinated care and focus on preventative health. Medicaid would be expanded, with subsidies available to pay for coverage.
A quick analysis concludes that the House draft will cost more than legislation currently under consideration in the Senate. So far, neither Democrats nor Republicans have been able to decide how to pay for the bill, which could total more than $1 trillion over the next 10 years.
Tags: American, Congress, cost control, Democrats, government-backed plan, Healthcare, healthcare costs, healthcare system, historic legislation, insurance coverage, insurance requirements, Joint Committee on Taxation, Medicaid, Medicare Advisory Payment Commission, national, reform bill, Republicans, state-based exchange, Sustainable Growth Rate formula, taxation
Posted in Economics, Healthcare | No Comments »
Friday, June 12th, 2009
Another sign of the healthcare industry’s growth trajectory is the news that Roosevelt University is opening a College of Pharmacy at its Schaumburg, IL, campus. According to Dean George MacKinnon III, the college’s initial courses will begin in the fall of 2011 and enroll approximately 65 students.
Pharmacology is a high-demand, well-paying field, thanks to the aging American population and the healthcare industry’s increasing dependence on prescription drugs. The United States spends $986 million annually on prescription
drugs – the highest in the world. Statistics from the Bureau of Labor Statistics indicate that pharmacy jobs will grow by 22 percent between 2006 and 2016 – a rate that translates to solid career prospects in a demanding field.
Michael Patton, executive director of the Illinois Pharmacists Association, notes that the shortage of qualified pharmacists means that new graduates can easily find $100,000 a year jobs with very little effort. They may be aggressively recruited by nationally branded pharmacy companies that offer lucrative incentive packages such as signing bonuses and student loan repayment programs.
Roosevelt is speeding up the training process by offering a three-year program versus the traditional four-year curriculum. With tuition expected to run between $30,000 and $40,000 per year, this will let new pharmacists enter the workforce sooner rather than later.
Tags: Bureau of Labor Statistics, college, College of Pharmacy, Dean George MacKinnon III, Healthcare, healthcare industry, Illinois, Michael Patton, pharmacology, prescription drugs, Roosevelt, Roosevelt University, Schaumburg, students, United States
Posted in Healthcare | No Comments »
