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Insurance
Indiana's universities give industry a boost: State touts wealth of higher-ed insurance programs
March 6, 2006
Scott OlsonPoliticians seem so much more 21st century when they talk about attracting life sciences and information technology jobs to
Indiana. But they're not about to ignore the state's second-largest employer-the often-overlooked insurance industry. Indiana
insurers employ more than 60,000 Hoosiers, second only to farming, and pay an average annual salary of $47,500, nearly $10,000
more than the state average, according to a 2004 study by Purdue University. Moreover, the industry boasts some of the state's
largest public and private companies-WellPoint...
MoreWishard bounces back, projects $23M surplus: Improved billing, debt collection dry up red ink
March 6, 2006
Tom MurphyWishard Health Services made it back into the black in 2005, three years after posting a staggering loss of $77 million. The
not-for-profit, public hospital system expects to record a $23 million surplus on $362 million in revenue when budget totals
are final in a few months. Its leaders expect to wind up with another surplus in 2006. Such performance is a noteworthy achievement
in the public health universe, said Lynne Fagnani, senior vice president for the Washington, D.C.-based National...
MoreMaking the grade: Pay-for-performance system nearing reality for local physicians
March 6, 2006
Tom MurphyCentral Indiana stands on the leading edge of a national push by health care insurance systems to link doctors' pay with their
performance. The Indiana Health Information Exchange-a not-for-profit collaboration among some of the state's largest health
care providers-is developing a program that uses data collected from insurers and care providers to produce quality reports.
Those reports then will be sent to doctors and used by the insurers to develop incentive programs for reimbursement. The goal:
Start a system by...
MoreInsurers: Session a 'dog': Industry's favored bills bark up the wrong tree
March 6, 2006
Scott OlsonThe state's insurance industry could use coverage for the lumps it has taken this legislative session. The three main issues
of interest for the Insurance Institute of Indiana, the sector's lobbying arm, all flamed out early. The disappointing performance
prompted Marty Wood, the organization's director of public affairs, to proclaim it a near failure. "I would give this session
for insurers a 'D' as in dog. Dog is probably pretty accurate, too," Wood said. "Had we had this kind of...
MoreHome investors fill portfolios with bricks and mortar: Membership in local investor group grows; national trend, foreclosures
are playing a part
February 27, 2006
Tammy LieberMike Wilson recalls going to meetings of the Indianapolis Landlords Association in the late 1990s and listening to a "good
old boys club" talk about property management problems such as how to fix toilets and get rid of cockroaches. "They were managing
properties, not buying," said Wilson, who at the time had just started purchasing single-family homes as investments. With
a hunger for knowledge and a hunch that there were others like him, Wilson took a spot on the board...
MoreBanning 'McLawsuits': State bill outlawing fast-food litigation nears passage
February 27, 2006
Matthew KishA bill nearing the governor's desk would make it illegal to sue Indiana restaurants-including the state's ubiquitous fast-food
joints-for those extra notches in the belt. Commonly referred to as the "cheeseburger bill," the measure is part of a national
effort by restaurants and small-business owners to protect themselves from enormous class-action lawsuits that have been filed
against some national chains. House Bill 1113 passed out of the Senate Committee on Corrections, Criminal, and Civil Matters
on Feb. 14 by a...
MoreOpen source gaining traction: Government departments, more businesses seek alternatives to Microsoft, others
February 27, 2006
Scott OlsonThe Indiana Department of Education's effort to outfit high schools with computers is a costly endeavor for a state strapped
for cash. But installing what is known as open-source software is softening the blow. As the name implies, open-source programming
is available for users to study, modify and share freely-a sharp contrast to the proprietary software sold by behemoths such
as Microsoft Corp. and Oracle. Expensive licensing fees associated with the proprietary software sent the Education Department
looking for alternatives....
MoreClarian sizing up south side: Agreement with Morgan Hospital could lead to development projects in St. Francis' back yard
February 27, 2006
Tom MurphyThe largest hospital network in Indianapolis will start stretching its reach once again next month, this time south of town,
where it could challenge the dominance of St. Francis Hospital & Health Centers. Clarian Health Partners is embarking on a
five-year development agreement with Martinsville's Morgan Hospital & Medical Center that could place more building projects
on Clarian's already crowded construction agenda. The two systems plan to focus their relationship on improving patient care
and research, but representatives of both...
MoreKnow where to look for funding:
February 27, 2006
Charles SimConventional bank loans Banks provide conventional financing, evaluating loan requests against the socalled "five Cs" of credit.
They must feel comfortable that borrowers have: capacity to repay the loan; capital of their own invested in the business;
collateral to offer as a secondary source of loan repayment; creditworthiness, based on personal and business borrowing history;
and character worthy of the bank's trust. It's in banks' best interest to minimize risk. Loans are made only where the likelihood
of being repaid...
MoreStandard stock sinks close to crucial mark: As shares hover around $1, company launches effort to raise $25 million
February 20, 2006
Tom MurphyStandard Management Corp. shares are sliding into a dangerous price range as the Indianapolis-based company tries to raise
$25 million to continue growing its health-services business. The stock price dipped briefly below $1 earlier this month in
NASDAQ trading. It rebounded to close at $1.17 Feb. 10 before slipping back to $1 Feb. 15. NASDAQ imposes a $1 minimum bid
price for shares to continue trading on its exchange. Market watchers say Standard is in no danger of suddenly being...
MoreEYE ON THE PIE: Coffee, doughnuts and liberty
February 20, 2006
Morton MarcusThere is nothing like the aroma of strong, fresh coffee. So it was as I woke one recent day. My executive officer had left
for work, but graciously left the coffee and its aroma for me to enjoy. Down the stairs I tottered with my dog (who pretends
to be too feeble to manage the stairs by himself). I let him out, let him back in, gathered a cup of the brew, and entered
my office. "Hi," she said in...
MoreRETURN ON TECHNOLOGY: The Fortune 500 begins to dance with blogs
February 20, 2006
Tim AltomFord and GM do it. So do Sprint, Sun, Boeing and Xerox. But Raytheon, 3M, Kmart, McDonald's, and most of the rest of the Fortune
500 don't. At last count, only 22 of the Fortune 500 did it, according to Socialtext.net. Why do so few companies blog? Before
going on, let's define "blog." A "blog" is shorthand for "weblog," which is essentially an online diary anybody can read and
anybody can annotate with comments. Blogs are not strictly Web sites,...
MoreBank profit see-sawed before sale: Union Fed investors may have tired of volatile performance
February 13, 2006
Matthew KishUnion Federal Bank's profits have gone up and down like an electrocardiogram since a group of elite investors bought a major
stake in the privately held institution in 1999. That wildly inconsistent performance likely played a role in the decision
by investors to sell the bank, experts say. On Feb. 3, both the bank and its parent company were sold to Bowling Green, Ohio-based
Sky Financial Group Inc. for $330 million. The bank had been the thirdlargest in town. After...
MoreEx-Winona owner under fire: Leland Medical Centers CEO faces fraud accusations, questions about his own bankruptcy
February 13, 2006
Tom MurphyAccusations of fraud and other misconduct are piling up against the former owner of Winona Memorial Hospital. Two companies
recently joined Winona's creditors in questioning money transfers made by Texasbased Leland Medical Centers Inc., which owned
the nowdefunct Indianapolis hospital from 2002 until a short time before it closed in 2004. Meanwhile, lawyers sorting through
the liquidation of Winona still have no explanation for why Leland took $3.6 million from the struggling Indianapolis hospital
before it slid into bankruptcy and...
MoreHospitals still find room to grow in Hamilton County: More competition doesn't crowd the market, experts say
February 13, 2006
Tom MurphyClarian Health Partners made a big splash last December in Hamilton County when it opened a 154-bed medical center, but competitors
in that market are showing they know how to flex development muscles, too. The county's three other hospitals all have planned,
started or completed expansion projects in the last few years, and those who know the market see plenty of room for more health
care. "If you're in the hospital business, it's hard to fail in a market like...
MoreBRIAN WILLIAMS Commentary: Health care is hurting Indiana's economy
February 13, 2006
Nearly 875,000 Hoosiers lack health insurance, including 165,350 children. Lack of health insurance takes a devastating toll
on Hoosiers and the state's economic health, and the effect of the uninsured will only get worse as their numbers grow. As
companies confront rising health care costs, the obvious solution is dropping or scaling back health-insurance benefits. As
a result, the number of uninsured increases, resulting in a premium cost shift to the insured and increased cost for government-provided
health care. Over...
MoreFirms face choice: Spend or be swallowed: Independent third-party benefits administrators watch consolidation wave sweep through
state
January 30, 2006
Tom MurphyFor small companies, "their systems costs are just eating them alive," said Donley, president of Donley & Co. Inc. "If they
lose a couple large clients, all of a sudden they go from being in the black to being in the red." Donley and others say the
skyrocketing cost of doing business has triggered a wave of consolidation in the Indiana market for benefits administration.
Since 2003, larger companies have gobbled or plan to gobble at least seven independently owned...
MoreNOTIONS: Will House protect Hoosier families?
January 30, 2006
Bruce HetrickLast fall, the Greater Indianapolis Chamber of Commerce invited members to an event called "Pancakes and Politics." The invitation
said that Indiana House Speaker Brian Bosma would preview the upcoming legislative session. Ever curious, I e- mailed the
Chamber and said I'd attend. When I arrived, I was puzzled. There were, indeed, pancakes. Bosma was working the crowd. But
instead of signaling a legislative overview, the PowerPoint slide on the screen said we'd be hearing about the accomplishments
and goals...
MoreBills push for health incentives: Measures dangle carrots to quit smoking, shape up
January 30, 2006
Tom MurphyA couple of state senators want to tame rising health care costs by delivering extra motivation to help government workers
get in shape and other employees quit smoking. Sen. Vi Simpson, DEllettsville, has introduced a bill that would knock $100
off the annual health insurance premiums of state employees who complete a yet-to-be-designed wellness program. Sen. Beverly
Gard, RGreenfield, is pitching legislation making it easier for employers to dangle incentives to curb smoking. That could
lead to cash rewards for...
MoreClarian finds room for luxury: Hospital one of a handful to feature spa treatment
January 30, 2006
Tom MurphyWomen giving birth at Clarian North Medical Center now can enjoy a massage, manicure or pedicure before they return home to
the sleep-deprived life of caring for a newborn. These are a few of the services Indianapolis-based Ology will offer when
it launches its second hospital spa Jan. 23 at the new Carmel medical center. Ology opened its first more than a year ago
inside Avon's Clarian West Medical Center. Spa Director Andréa Bradley-Stutz expects the latest location to top...
MoreClarian finds room for luxury: Hospital one of a handful to feature spa treatment
January 23, 2006
Tom MurphyWomen giving birth at Clarian North Medical Center now can enjoy a massage, manicure or pedicure before they return home to
the sleep-deprived life of caring for a newborn. These are a few of the services Indianapolis-based Ology will offer when
it launches its second hospital spa Jan. 23 at the new Carmel medical center. Ology opened its first more than a year ago
inside Avon's Clarian West Medical Center. Spa Director Andréa Bradley-Stutz expects the latest location to top...
MoreFirms face choice: Spend or be swallowed: Independent third-party benefits administrators watch consolidation wave sweep through
state
January 23, 2006
Tom MurphyFor small companies, "their systems costs are just eating them alive," said Donley, president of Donley & Co. Inc. "If they
lose a couple large clients, all of a sudden they go from being in the black to being in the red." Donley and others say the
skyrocketing cost of doing business has triggered a wave of consolidation in the Indiana market for benefits administration.
Since 2003, larger companies have gobbled or plan to gobble at least seven independently owned...
MoreNOTIONS: Will House protect Hoosier families?
January 23, 2006
Bruce HetrickLast fall, the Greater Indianapolis Chamber of Commerce invited members to an event called "Pancakes and Politics." The invitation
said that Indiana House Speaker Brian Bosma would preview the upcoming legislative session. Ever curious, I e- mailed the
Chamber and said I'd attend. When I arrived, I was puzzled. There were, indeed, pancakes. Bosma was working the crowd. But
instead of signaling a legislative overview, the PowerPoint slide on the screen said we'd be hearing about the accomplishments
and goals...
MoreBills push for health incentives: Measures dangle carrots to quit smoking, shape up
January 23, 2006
Tom MurphyA couple of state senators want to tame rising health care costs by delivering extra motivation to help government workers
get in shape and other employees quit smoking. Sen. Vi Simpson, DEllettsville, has introduced a bill that would knock $100
off the annual health insurance premiums of state employees who complete a yet-to-be-designed wellness program. Sen. Beverly
Gard, RGreenfield, is pitching legislation making it easier for employers to dangle incentives to curb smoking. That could
lead to cash rewards for...
MoreBanking players on rise: Despite flood of mergers, area competition heats up
January 16, 2006
Matthew KishBig-ticket bank mergers grabbed plenty of headlines in the past two years. Just don't let the splashy news stories fool you.
The number of players in the Indianapolis banking market is expanding, even amid consolidation in the industry nationwide.
Over the past 10 years, the number of banks taking deposits in the metropolitan area has grown from 41 to 56, according to
annual data from the Federal Deposit Insurance Corp. Analysts attribute much of the growth to smaller banks and...
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Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.
Does the buyer get to keep the recent Accu-Chek J.D. Power award? Be careful, those Swiss cannot be trusted. Last June they pimped Mayor Ballard and former Governor Daniels at a media op, announcing plans to invest "$300 million at its Indianapolis headquarters, creating up to 100 new jobs by 2017," only to turn around and close the Roche Nutley, NJ facility and eliminate 1000 jobs there later the same week. It seems that healthcare can be innovated only as long as money is to be made. Right now Roche seems to have big eyes for China: there are many Chinese in China and potential billions in Swiss francs! Since Roche is having difficulty with US insurance companies swallowing the bill for overpriced cancer drugs (with debatable efficacy) why not sell insurance to the Chinese and market the drugs to them there? There is a name for these sort of business practices however proper decorum precludes it use in this forum.
Same kind of Luddites who oppose I-69. Guessing their 501(c)(4) application probably sailed right through the IRS.