Leaders of the IU Health hospital system have discussed recently, according to multiple sources, whether a closer partnership with Eskenazi Hospital might be just what the doctor ordered.
After suffering a financial swoon a year ago, Indiana’s hospitals look like they’re back on firmer—though not rock-solid—footing.
PTS Diagnostics engineered an about-face on its business plan five years ago, ditching its retail strategy to focus on serving physicians and nurse practitioners. This year, PTS is on pace to record revenue of nearly $50 million, up from $17 million two years ago.
Retail clinics and urgent care centers are proliferating. That could expand the market for health care. But if consumers decide instead to make strip malls the front door to their health care—rather than traditional physician offices—the hospital systems could see their market shares waning.
The federal government has spent $27 billion—and hospital systems have spent even more—to roll out electronic medical records across the industry. But even advocates say the results have been “disappointing.”
In the past two years, IU Health has laid off 935 people, halted construction of a major bed tower, sold off health clinics and decided to close its proton-therapy center. But there are three more years of changes to come, said CFO Ryan Kitchell.
Dr. Nicole King, an OBGYN, has joined Hendricks Regional Health at its New Life Associates practices in Brownsburg and Danville. She received her medical degree from the University of South Florida College of Medicine.
St. Vincent Medical Group officials have added four physicians in Indianapolis specializing in critical care, pulmonary and sleep medicine. Dr. Edward Mintz, a pulmonologist, received his medical degree from Technion Institute of Technology, Haifa, Israel. Dr. Moayyed Moallem, a pulmonologist and sleep medicine specialist, received his medical degree from the University Of Damascus School Of Medicine in Syria. Dr. Michael Shapiro, a pulmonologist, received his medical degree from the University of South Florida. Dr. Brent Toney, a pulmonologist, completed his degree in osteopathic medicine from Nova Southeastern University in Fort Lauderdale, Florida.
Anthem patients in five U.S. cities, including Indianapolis, spent $220 less per MRI scan after Anthem told them of lower-cost facilities. In response, hospital-owned MRI facilities cut their prices.
All of sudden, Hoosiers are buying less health care. Is that because we’ve kicked the habit, sobered up and found religion? Or is it the Great Recession hangover that will pass, eventually, so we can all get back to the party?
Indianapolis ranked fifth highest among the nation’s largest cities for the most positive reviews of physicians. On a five-point Patient Happiness Index, the average review by patients scored Indianapolis physicians at a 4.05. San Francisco physicians topped the list.
Indiana physicians and research organizations reaped more than $25 million in payments from 15 pharmaceutical firms in 2012, according to the most recent data made available by the not-for-profit group ProPublica. Lilly was the biggest spender and the IU medical school was the biggest recipient.
A new study found that common blood tests performed by hospital-owned facilities in the Indianapolis area were six to nine times more expensive than the same tests at independent lab facilities. Ouch!
Indiana University Health wants to merge two of its big downtown hospitals—University and Methodist—into one location, meaning either one or both would close or be converted to another use.
Thomas Mooney has been appointed CEO of Methodist Sports Medicine, overseeing three locations in Avon, Carmel and Greenwood. According to his LinkedIn profile, Mooney was most recently CEO of an orthopedic physician practice in central Pennsylvania. Mooney holds a bachelor’s degree in business from Towson State University and an MBA from the University of Phoenix.
Bob Wade, a health care attorney at Indianapolis law firm Krieg DeVault LLP, was named the compliance expert to the board of Halifax Health in Daytona Beach, Fla. The hospital system agreed to an $85 million settlement with the U.S. Department of Justice over alleged illegal contracts with doctors that violated the federal Stark statutes. Wade, an expert in the Stark laws, will help the hospital rewrite its contracts with physicians and establish a compliance program.
While the biggest hospital profit margins are made in the suburbs, the biggest pile of cash—$353 million in 2012—is made at the three downtown campuses run by Indiana University Health. In fact, those hospitals generated 32 percent of all operating gains posted by central Indiana hospitals in 2012.
Eli Lilly and Co. thinks it has a secret weapon to return to growth. No, it’s not a new blockbuster drug—although Lilly will most likely have several new products hit the market this year and next. Rather, it’s an unorthodox, softer approach put into play by its U.S. sales force.
Now that Indianapolis-area hospitals employ large numbers of physicians, a new study suggests the integrated health systems will be able to charge higher prices to private health insurers.
Indiana is the most profitable state for Indianapolis-based WellPoint Inc., which operates Blue Cross and Blue Shield health plans in 14 states. WellPoint’s margin for Indiana in 2012 was 5.8 percent, 38 percent higher than WellPoint’s national average.
Roche Diagnostics Corp. saw a stunning 13-percent boost in sales in its North American diabetes care business during the first quarter, although neither company management nor stock analysts expect that trend to last.
WellPoint’s commanding market share gave it a whopping $129 million in profit from its risk-based insurance products in 2012. But in percentage terms, WellPoint was not at the top of the heap.
