Author Archives: Thomas Finn

In Search of the Perfect Order?

Realizing an ambitious goal makes us feel good. Setting a goal and failing to live up to it doesn’t. While procurement organizations continue to make great strides in placing additional spend under management, the lofty expectations that originally drove the early rush to P2P automation have been lowered on certain fronts. Yes, it’s easy to point to less-than-stellar implementations and/or technologies that just weren’t up to task, but there are other culprits—like the danger in placing too much focus on process and/or our tendency to take a “permanent breather” after a failed attempt. In short, while process efficiency/automation is obviously [...]

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Applied Analytics: Deloitte Survey Reveals Forensic Mindset Needed to Assess Supply Chain Risks

As complexity in global supply chain networks continues to increase, less than one-third (26 percent) of business executives are using data analytics tools and processes to help manage third party relationship risks, according to a new Deloitte survey. Thirteen percent of those surveyed are still learning how to use analytics software and 22 percent use no data analytics at all. “Many market leading companies leverage advanced data analytics tools and forensic accounting to identify anomalies in their transactional data,” said Mark Pearson, principal, Deloitte Financial Advisory Services LLP. “Using a forensic mindset when analyzing big data can provide value to [...]

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UK’s Competition Commission Forcing HCA to Sell Two London Hospitals

It appears that HCA International, owned by HCA Holdings, has become a victim of its own success. By most all accounts, it has done an excellent job in Central London and become a dominant force in its private healthcare market. So the idea that it is being forced to divest itself of two profitable hospitals, while it’s chief rival, BMI, gets a pass, is not sitting well with its executives. Competition Commission chairman Roger Witcomb said requiring operators to sell hospitals was a big step. “We have focused on those areas where a sale will be effective in increasing competition-where [...]

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No April Fools: Insurance Exchange Achieves Target Enrollment Threshold

More than 7 million Americans successfully signed up for health plans as of late yesterday. The tally was driven by a late rush indicating that Monday night’s deadline meant more to consumers than most had guessed. The total is significant. It means that the six-month sign-up period achieved the results that congressional budget analysts had first anticipated — and more recently had thought would be impossible, based on all the well-publicized problems with Healthcare.gov. Even Republicans concede that a threshold has been met. “At some level you have to take your hat off and say congratulations,” said Douglas Holtz-Eakin, president [...]

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ConvergeHEALTH Announces Yet Another Collaboration: Moffitt Cancer Center/M2Gen Joins the Consortium

ConvergeHEALTH by Deloitte is announcing that M2Gen, a wholly-owned subsidiary of Moffitt Cancer Center, has joined its real-world evidence and analytics consortium to help transform cancer care around the use of personalized medicine. M2Gen joins the consortium initiated by Intermountain Healthcare and ConvergeHEALTH to contribute toward biomarker discovery, gene-based clinical trial matching and real-world evidence generation to support the shift to personalized medicine in oncology. M2Gen has one of the world’s richest sources of oncology and personalized medicine insights as a result of Moffitt Cancer Center’s Total Cancer Care® program. Total Cancer Care helps researchers and caregivers address the needs of [...]

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Patient Safety Through Nurse Workplace Transformation: New RWJF Policy Brief Examines Progress Since 2004 IOM Study

Princeton, NJ — A decade ago, a report from the Institute of Medicine (IOM) offered the startling conclusion that, “the typical work environment of nurses is characterized by many serious threats to patient safety.” The IOM offered a series of specific recommendations about how hospitals and other institutions needed to change to reduce the number of health care errors—recommendations that together constituted a fundamental transformation of nurses’ work environment. Ten years later, a new issue brief from the Robert Wood Johnson Foundation (RWJF) examines progress toward those goals. The IOM report, Keeping Patients Safe: Transforming the Work Environment of Nurses, found [...]

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ACell Enters National Purchasing Agreement with Novation, Awarded Innovative Technology Designation for MatriStem® Devices

ACell, Inc., a leading regenerative medicine company focused on the development, manufacturing and commercialization of tissue repair products, today announced that it has entered into a national purchasing agreement with Novation for the Company’s MatriStem® devices. The MatriStem devices also were awarded the elite Innovative Technology designation from Novation. The designation underscores the clinical benefits of ACell’s standalone MatriStem technology for surgical soft tissue repair and complex wound management. The new contract with Novation marks the second major group purchasing organization agreement for the Company, effectively broadening physician access of MatriStem to an additional 100,000 healthcare providers. Novation awarded ACell’s MatriStem [...]

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Single Use Devices (SUDs) –Sustainability and Cost Savings Creating Perfect Storm For Demand Growth

The size of the medical disposables market is massive and still growing. According to a recent report by Freedonia Market Research Group, “US demand for disposable medical supplies is forecast to increase 4.3 percent annually to $46.7 billion in 2016.” From general surgical tools to the most commonly used in specialized orthopedic and arthroscopic applications, single use devices (SUDs) have found their rhythm under the cover of “sustainability,” of all things. And because it’s now fashionable to make a case for change on the basis of cost savings –if nothing else– the SUD manufacturers are experiencing a perfect storm in customer [...]

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ECRI Institute Releases Free Top 10 Technology Watch List for the Hospital C-Suite

ECRI Institute, a nonprofit dedicated to researching the best approaches to patient care, recently announced its 2014 Top 10 Technology Watch List, an evidence-based, straight-talk reference guide on upcoming noteworthy health technologies or health systems issues. Intended for the C-Suite, “this is not a list of ‘must-haves,’ but rather a ‘must think carefully about’ list,” says Diane Robertson, director of the health technology assessment information service for ECRI Institute. “We don’t profess to have all the answers, but the unbiased evidence that we present about these 10 technologies and infrastructure issues will get healthcare leaders off to a steady start on [...]

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FAQ: What Are The Penalties For Not Getting Insurance?

The Affordable Care Act has started to resemble life itself  –a series of diminishments. Whether in the form of another delay, a revision, or a cancellation, several of the Act’s most defining requirements  –its mandates and minimum standards– are withering away right before our eyes. If the threats behind the penalty provisions of the Act aren’t going to be taken seriously by the Administration, then how can it expect the American people to be effectively persuaded? And if the President is willing to go to war with the Little Sisters of the Poor (over contraception coverage), but ignore enforcing the [...]

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March 31 is an Unproductive Deadline: The “Doctor Fix” Put On Hold for Another Year

Lawmakers have agreed to yet another 12th hour, 12 month “temporary patch” to the issue known as the “doc fix” problem. Briefly, because House and Senate leaders suddenly realized that they wouldn’t be able to agree on a permanent fix prior to their self-imposed March 31 deadline, they have instead worked out yet another deal to make sure physicians will still treat their Medicare beneficiaries (doctors were otherwise facing as much as 24% reduction in their reimbursements this year –based on the wildly unpopular sustainable growth-rate formula (SGR)). Enacted back in 1997, the SGR combines physician expenses, per capita growth in [...]

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Obamacare Enrollment Woes: No Fines, No Compliance

Late yesterday, Amy Goldstein of the Washington Post reported what close observers of Obamacare’s federal exchange enrollment troubles had been predicting all along, namely, that the March 31 deadline would be extended. By the way, because the text of the Affordable Care Act does not specify how long the open enrollment period should be, Health and Human Services (HHS) regulators are not out on their own legal limb this time. So, if you hear your friends saying, “how can they do that,” feel free to set the record straight. Although Sec. Sebelius recently told congress that the administration had no [...]

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Pricing Transparency: Are Taxpayers Swinging at Windmills?

Regardless of your politics, most of us can agree that the market for health care in the United States isn’t really working all that well. The libs tell us that a market failure has occurred, and that we need government to intervene to correct that failure — by expanding public insurance programs, subsidizing private insurance, etc. Although the conservatives don’t exactly concede that such a failure has happened, they do believe that things would get better if we simply got government out of the way and made consumers better informed. In other words, take care of the information asymmetry that [...]

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Multi-Billion Cap Healthcare Companies that Might Receive Tender Offers in 2014

With so much cash on the sidelines, healthcare investors (actually, investors of all stripes) are “on the lookout” for the next big multi-billion dollar acquisition. According to Morgan Stanley, 9 multi-billion dollar cap healthcare companies have a high likelihood of receiving at least one tender offer over the next 12 months. Morgan Stanley relied on several factors in its analysis: Dividend yield: Lower yields imply higher offer probabilities. Price-to-book ratio: Cheaper stocks have a higher offer likelihood. Debt-to-asset ratio: Higher leverage means an offer is more likely. Market cap rank: Smaller caps have higher offer probabilities, mega-caps, less likely. Sector: [...]

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Affordable Care Act (ACA) Hits 4th Anniversary

What follows is President Barack Obama’s statement, made yesterday, on the 4th anniversary of the Affordable Care Act (ACA): Since I signed the Affordable Care Act into law, the share of Americans with insurance is up, and the growth of health care costs is down, to its slowest rate in fifty years – two of the most promising developments for our middle class and our fiscal future in a long time. More Americans with insurance have gained new benefits and protections – the 100 million Americans who’ve gained the right to free preventive care like mammograms and contraception, the eight million [...]

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FORTUNE Magazine Names Owens & Minor “2014 World’s Most Admired Company”

Owens & Minor, Inc. (NYSE:OMI) announced that it has been named to the “2014 World’s Most Admired Companies” list by FORTUNE magazine. The annual “World’s Most Admired Companies” list measures nine attributes related to financial performance and corporate reputation and is based on company surveys and peer ratings. For 2014, Owens & Minor was ranked fourth in its category, Healthcare Wholesalers. “The selection of Owens & Minor as one of the world’s most admired companies is a direct reflection of the dedication and expertise of our teammates, who serve our healthcare provider and manufacturer customers with great skill every day,” [...]

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