Healthcare Roundup: Medicare Commission Crackdown, High-Profit Hospitals, Intel's Home Health Gadgets, and More
Feds crack down on Medicare Advantage sales commissions -- With open enrollment season for Medicare plans about to open on Nov. 15, the Centers for Medicare and Medicaid Services have issued new rules governing sales commissions for Medicare Advantage plans. The rules are designed to curb excessive compensation that has allegedly tempted some brokers to "churn" seniors in and out of various Advantage plans. [Source: Modern Healthcare]For hospitals, 2007 was the worst... and best... of times -- Yesterday we noted that the American Hospital Association's latest data -- for 2007! -- showed that bad debt and delayed reimbursements rose sharply that year. But it turns out that U.S. hospitals also recorded record profits for 2007, a gross profit of $43 billion -- the largest single-year jump in profit margins in 15 years. Interesting. [Source: Modern Healthcare]
Intel launches home-monitoring health products -- The chip company unveiled hardware and software gadgets -- collectively called the Intel Health Guide - designed to help elderly patients monitor their vital statistics at home and transmit the information to doctors. The idea has been a pet notion of former Intel chairman Andy Grove, although Intel's woeful experience in any sort of consumer market should raise doubts as to how this particular venture will fare. [Source: WSJ]
Plastic surgeons offer deals in a tough economy --Dermatologists, facial surgeons and plastic surgeons are offering discounts, two-for-one deals and other incentives to attract customers as the economy turns south. Some offer "Botox Fridays," where they offer 30 percent discounts for injections made that day. [Source: NYT]
Value of new medical technology unproven -- So says Stanford professor Laurence Baker, co-author of a recent Health Affairs article that notes how little data supports the use of high-tech medical tools such as MRI and CT scans. Baker appears sympathetic to the use of advanced technology, but argues that we need more data to support claims of both its direct and indirect benefits. [Source: Modern Healthcare]
WSJ discovers ICD-10 switchover controversy -- WSJ reporter Jane Zhang notes the by-now familiar contours of the controversy over adopting complex new billing codes known collectively as ICD-10. (See also our coverage of the ICD-10 battle that has hospitals squaring off against doctors and managed-care companies.) The article highlights the concerns, primarily of doctors, but gives short shrift to possible benefits of the new coding system. [Source: WSJ]
