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.

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Employers to offer more telemedicine options in 2015; reap benefit of potential savings

According to the results of a survey published today by global analytics company Towers Watson, more U.S. companies plan to increase the use of telemedicine to lower healthcare spending costs in 2015. Telemedicine has the potential to deliver more than $6 billion in healthcare savings per year to U.S. companies, according to the report.

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Back on track

The fall season is commonly known as the time that people get "back on track". Healthcare is no exception. With the official ICD-10 transition deadline finally announced, radiology practices can get back to the business of preparing physicians and staff for the new coding implementation.

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Controversy over federal funding for medical training

In an NPR story, some professional societies and associations expressed concern over a new report from the Insitute of Medicine that calls for more accountability in the distribution of funding for medical graduate education. 

CMS finally confirms official coding deadline

The Centers for Medicare and Medicaid Services (CMS) announced late last week that October 1, 2015, is officially the new transition date for the International Classification of Diseases 10th Revision (ICD-10) coding system in healthcare claims. 

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AHIMA article clarifies need for ICD-10 changes; dispels misconceptions

Since the announcement of the ICD-10 delay earlier this year, many healthcare providers have questioned the need to continue spending on staff and physician training. Additionally, some questioned whether ICD-10 would be implemented at all, and the transition would simply be made to the ICD-11 coding. An article in the current issue of the Journal of AHIMA addresses some of the most common concerns surrounding ICD-10 and intends to dispel several misconceptions.

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Johns Hopkins and Kaiser Permanente Announce Partnership

Two of the nation’s most well-known healthcare organizations, Johns Hopkins Medicine and Kaiser Permanente, announced a strategic collaboration that joins one’s academic research and clinical capabilities with the other’s expertise in population health management.

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Lung-cancer screening: A long time coming

A recent study published in the journal Cancer concluded that patient anxiety associated with a false positive lung-cancer screening was no greater at one and six months post-screening than that of patients who received a negative result.

Cutting reimbursements will cost more in the long run

The current physician piecemeal reimbursement model ultimately drives up the costs of healthcare according to Sandeep Jauhar, MD. In a New York Times editorial he explains that while overutilization is certainly a factor, cutting payments to physicians is a self-defeating strategy, forcing them to increase the number of patients they see, which reduces the amount of time spent with each one. Busy doctors call on others to help with the patient load, often times specialists who may order more tests, driving up costs. "There is no more wasteful entity in medicine than a rushed doctor," says Jauhar.