Franciscan among Medicare’s first accountable care groups
Franciscan Alliance’s Indianapolis-area hospitals, along with more than 700 physicians, have been named one of the nation’s first 32 accountable care organizations.
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The Warsaw-based makers of orthopedic implants could be hurt by a new plan floated by the Centers for Medicare & Medicaid Services to target "unnecessary" medical device claims, according to the trade publication MassDevice. Medicare officials will ask doctors to provide up-front justification for certain medical equipment, especially for orthopedic and cardiac devices. The program, set to launch in 11 states next month, will flip the reimbursement system from the agency's existing "pay-and-chase" method of looking for improper payments after they've already been made. It’s more bad news for orthopedics companies—including Warsaw’s Zimmer Holdings Inc., Biomet Inc. and DePuy Orthopaedics Inc. They have already been hurt by the recession and high unemployment, as jobless patients have put off elective surgeries. The companies are also bracing for a new industry tax instituted by the 2010 health care overhaul.
Batesville-based Hill-Rom Holdings Inc. has agreed to acquire Germany-based Volker Group for $85 million in cash, pending regulatory approvals. Volker makes bed frames and other furniture for long-term care and hospital facilities. The company, which sells mainly in Europe and other foreign markets, had 2010 revenue of roughly $100 million. Hill-Rom also makes hospital beds and other equipment, as well as provides information technology components to enhance the performance of its products. Hill-Rom said Volker’s business would strengthen its product offerings in Europe, and would boost its 2012 earnings by 2 cents or 3 cents per share. The transaction is expected to close within the first quarter of 2012.
Shares of Endocyte Inc. plummeted nearly 70 percent after clinical trial results announced Dec. 13 showed the company’s experimental ovarian cancer drug led to shorter overall survival times than treatment with a standard cancer drug. Some analysts called the sell-off an overreaction, but shares of the West Lafayette-based company remained depressed nearly a week after the news. Endocyte officials stressed that the study of the drug EC145 did not include enough patients to be statistically meaningful in terms of overall survival. Also, they noted that survival rates for patients taking standard therapy were several months longer than seen in any other study. Previous clinical trial results released by Endocyte have shown that EC145 significantly increases the length of progression-free survival for ovarian cancer patients who have cancers that are resistant to treatment with common platinum-based drugs. Investors, however, assumed the worst. In the Phase 2 trial results reported Dec. 13, patients taking EC145 with the cancer drug Doxil survived a median length of 14.1 months, which was longer than in any previous study of the drug. But patients taking Doxil alone experienced median survival rates of 16.9 months.
Indianapolis-based WellPoint Inc. is feuding with St. Louis-based pharmacy benefits manager Express Scripts Inc., according to the Associated Press. Express Scripts said WellPoint, the second-largest health insurer in the nation, has raised the possibility of filing a lawsuit over contract terms and Express Scripts’ performance under that contract. But Express Scripts officials also said the companies are negotiating, and they believe they can resolve the dispute. WellPoint is disputing the implementation of some terms of the contract and "certain operational matters associated with Express Scripts' performance" under those terms. The contract between the companies went into effect on Dec. 1, 2009, after WellPoint sold its pharmacy benefit management business to Express Scripts.
People
The Indiana Health Information Exchange Inc. appointed Dr. Josh Nelson as its chief medical officer. He will discuss medical issues with customers and stakeholders of IHIE, a not-for-profit organization that provides access to patient medical records and data from those records. Previously, Nelson was a physician executive fellow at Indianapolis-based WellPoint Inc. He holds a business degree from the University of Pennsylvania, a law degree from the University of California at Berkeley and a medical degree from UC-Davis. Nelson began his medical career as a hospitalist at the California-based Kaiser Permanente health system.
Dr. Sonal Bazeley recently joined Anesthesia Consultants of Indianapolis LLC, which now has nine physicians. Bazeley previously practiced in Lansing, Mich. She did her medical training at the Medical College of Ohio in Toledo.
Colts win streak could set team back a decade
There has been much hand-wringing about what the Indianapolis Colts would do with Peyton Manning and Andrew Luck on their roster. If they win another game or two, they'll have a much bigger dilemma.
Neighborhood eyesore headed for demolition
The city is soliciting bids from companies to tear down four buildings on the 16-acre Avanti Development Corp. property, which is tucked in a residential area a few miles west of downtown Indianapolis.
Preferred shareholders blocking Emmis’ repurchase plans
The investors are concerned Emmis will gain voting rights to two-thirds of the preferred shares and that it would use that clout to get out of paying millions of dollars in dividends.
Excise police raid east-side homes
Indiana State Excise Police officers served search warrants at two Indianapolis homes Sunday morning, looking for evidence of illegal alcohol sales. Investigators said they found 543 bottles and cans of alcohol, an undisclosed amount of cash and more than 11 pounds of marijuana with a street value of $30,000 to $50,000. Authorities also seized a handgun, two vehicles and three refrigerators. The raids were the result of an investigation into illegal alcohol sales at 2445 N. Arsenal Ave. and 2449 N. Arsenal Ave. Undercover officers made several liquor purchases during their probe, and police are pursuing charges against three individuals.
Friend arrested in Cumberland killings
Two people were charged with murder Sunday in the Dec. 12 shooting deaths of 7-year-old Kyleigh Crane and her 21-year-old uncle, Jeremy Crane. Cumberland police arrested 22-year-old Michael Bell, a friend of the older victim, after he turned himself in. Detectives also charged 25-year-old Jeremy Priel, but did not release details about the crime or a motive. Jeremy Crane and Bell played football together at Warren Central High School, and Bell lived with the Crane family in their Woodlark Drive home until about a month ago. Family members said they do not know Priel.
North Korea’s Kim Jong-il dies at 69
North Koreans poured into the streets Monday to mourn the death of Kim Jong-il as state media hailed his untested son as the "Great Successor" of the reclusive state whose atomic weapons ambitions are a major threat to the region. Earlier, a tearful North Korean television announcer said the 69-year old ruler died on Saturday of "physical and mental over-work." Kim assumed the leadership of the totalitarian state in 1994, taking over from his father Kim Il-sung. He will be laid to rest next to his father Dec. 28. News agency KCNA lauded Kim's youngest son, Kim Jong-un, as "the outstanding leader of our party, army and people," but there was uncertainty about how much support he has among the ruling elite, especially in the military.
Local judge to rule on school vouchers
An Indianapolis judge says he'll decide within 30 days whether Indiana's sweeping new school voucher law violates the state's constitution.
New ban on texting while driving yields few tickets
In its first five months on the books, Indiana's texting-while-driving ban has led to only a few dozen citations by state troopers—a trend police blame on restrictions in the law that make it difficult for them to enforce.
Indy Partnership leader leaving organization
Executive Director Scott Fulford said he is retiring and handing over leadership to Troy Whittington, who currently is director of business development. He officially becomes interim director on Jan. 1.
You-review-it Monday: The holiday ramp-up/wind-down
Catch ‘Willy Wonka’ at Civic? Spend an afternoon with ‘Frog and Toad’?
Officials seek tougher prostitution law before Super Bowl
Those trying to fast-track legislation cite estimates that the 2010 Super Bowl brought 10,000 prostitutes to Miami and resulted in 133 arrests in Dallas at the 2011 Super Bowl.
Super Bowl building auction comes up empty
Organizers of the auction thought advertising agencies or individual advertisers would bid on the right to wrap their message around downtown buildings.
Taxpayer refund has to survive 2012 session
A state tax processing error resulting in $320 million more in the bank for the state and improved tax collections could put a nominal amount back in Hoosiers' purses and wallets next year. But a bi-partisan thirst to restore education funding and pay down state debts could just as easily take that refund away.
Vectren locks out union workers in dispute
Vectren has locked out 270 union workers at several Indiana worksites after the union rejected a proposed three-year-contract.
State Democratic chairman Parker rescinds resignation
Dan Parker, the chairman of the state Democratic Party who abruptly resigned this week, reversed himself Saturday and narrowly survived a vote to keep his post, a party official told The Associated Press.
CME Group says it’s staying in Illinois
Illinois Gov. Pat Quinn on Friday signed tax-break legislation designed to keep the Chicago Mercantile Exchange and Sears Holding Co. from fleeing the state. CME had talked to Indianapolis officials about moving to central Indiana.