BioCrossroads drops dreams for hospital innovation
In this age of austerity, there’s almost no chance of Indianapolis hospitals creating a Cleveland Clinic-like hub of innovation.
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Dr. Aisha Hashmat, a family medicine physician, has joined Community Physician Network in Anderson. She previously ran a family medicine practice on the south side of Indianapolis. Hashmat received her medical degree from Khyber Medical College at the University of Peshawar in Pakistan.
Dr. Daniel Kim, a neurosurgeon, has joined Community Physician Network, treating patients in Indianapolis and Anderson. Kim, a former attorney at the Indianapolis law firm Ice Miller LLP, received his medical degree from the Indiana Unviersity School of Medicine.
Steven Jones has been promoted to vice president of human resources for the Indiana University Health hospital system. An IU Health veteran for the past decade, Jones most recently served as executive director of talent management and diversity. Jones has a bachelor’s in economics from Wabash College.
Dr. Barbara Sturm, a dermatologist, has joined Franciscan Physician Network. She previously operated an independent practice, Dermatology of Stones Crossing, which was affiliated with Franciscan St. Francis Health. Sturm has a bachelor’s in biochemistry from Purdue University and a medical degree from the Indiana University School of Medicine.
A dose of light reading
Starting with this post, I’m going to periodically give you a peek at my reading list. I’ll highlight reports and reportage that I have found either helpful or provocative. I hope you do, too.
Company news
California-based St. Baldrick’s Foundation awarded $127,182 in pediatric cancer research grants to two physicians at the Indiana University School of Medicine. Dr. Celeste Phillips-Salimi received $49,730 to fund her work to provide Web-based resources to improve quality of life for adolescents and young adults fighting cancer. Dr. Jodi Skiles was granted $77,452 to study when and why vincristine, a major drug used to treat many childhood cancers, becomes toxic in larger doses.
Indianapolis-based CRO Solutions Inc., a team of business development professionals that connects small and mid-sized contract research organizations to drug companies, has launched a subsidiary focused on contract research to develop drugs, medical devices and drug-device combination products. The unit, VxP Pharma Inc., also will be headquartered in Indianapolis, but have access to facilities in Europe and Asia. VxP consists of a series of small, independently owned facilities, each focused on just one area of drug development. The company has about 10 employees.
People
Dr. Aaron Carlisle, a family medicine physician, has joined Community Health Physicians in Fishers. Carlisle earned his medical degree from Tulane University School of Medicine. Prior to coming to Community, he served for 12 years as a family medicine physician in the United States Army, including two tours in Iraq.
Dr. Roberto Darroca, an OB-GYN physician, has joined Community Health Network in Muncie. Darroca completed his medical degree at the Indiana University School of Medicine. He was previously in private practice for 22 years.
OrthoIndy channeling Walmart in comeback bid
The local orthopedic surgeons are presenting themselves as low-cost providers in an attempt to reverse growth restrictions imposed by Obamacare.
Expect deja vu: Obamacare won’t fix health care
By and large, Obamacare will leave in place the same major problems in the health care systems that existed before the law was passed—in both Indiana and across the nation.
Company news
Plunging revenue from blood glucose monitors has forced Roche Diagnostics Corp. to cut its staff, the company informed the workers last week. Roche, which operates its North American headquarters out of Indianapolis, suffered a 14-percent decline in revenue in its diabetes care unit during the first six months of the year. Roche has put that unit up for sale, according to a May report by the Reuters news agency. Roche spokesman Todd Siesky declined to disclose the number of workers that will be let go, only saying that jobs will be eliminated over the next several months. The cuts will affect Roche’s customer service group in Fishers and its diabetes manufacturing plant on the far northeast side. Between the two sites, Roche employs more than 900 diabetes care workers in the metro area. During the first six months of this year, Roche’s North American sales of diabetes products totaled $224 million. During the same period of 2012, diabetes sales in North American totaled about $257 million. And it’s going to get worse. The price of blood glucose monitors—which account for 90 percent of Roche’s diabetes care revenue—will be hammered by a new competitive bidding process instituted July 1 by the federal Medicare agency. Some projections indicated the Medicare program would drive down its payments 72 percent.
Indianapolis venture capitalist Matt Neff is the new CEO of Indianapolis-based AIT Laboratories, the drug-testing lab founded by Michael Evans. Evans stepped aside once before, in early 2012, and was replaced by Ron Thieme, who had been vice president of information technology. But the move didn’t work out, and Evans returned to the top job that fall. Now, Evans, 69, is stepping aside again, and Neff is becoming chairman, president and CEO, effective Monday. (See related story above.) Evans will remain chairman emeritus and continue as CEO of AIT sister company AIT Bioscience. Neff, meanwhile, is stepping down as CEO and president of CHV Capital, the venture capital arm of Indiana University Health, a post he held for six years. IU Health said the CHV Capital board would conduct a search for his replacement. AIT, founded in 1990 by Evans, then an Indiana University School of Medicine professor, caught fire about 10 years ago when it became the nation’s pioneer in urine drug tests to help doctors monitor patients taking narcotics for chronic pain. But AIT has been in turnaround mode after failing to respond quickly to deep cuts in Medicare reimbursement rates for basic drug tests. In 2009, Evans sold the company to employees for $90 million, with payments to him staggered over a number of years.
Community Health Network and Johnson Memorial Health opened the doors to a new health pavilion that will house doctors from both Community Physician Network and Johnson Memorial Physician Network, including specialists in family medicine, pediatrics, orthopedics, women’s health and general surgery. The facility will also offer walk-in lab testing, an imaging center, and physical and occupational therapy. Indianapolis-based Community and Franklin-based Johnson Memorial formed a partnership two years ago.
Already a wreck, the worst is yet to come with Obamacare
Obamacare is destined to fail for one key reason: it will make health insurance cost more and buy less.
SAXTON: Hospitals launch into downward spiral
The recent cutbacks sweeping central Indiana hospital systems are part of a larger epidemic affecting the entire U.S. health care system.
Zotec Partners plans $200 million acquisition
Acquisition of Atlanta-based medical billing firm would zoom annual revenue at Carmel-based Zotec from $85 million to $215 million. The combined companies would employ 1,750 people.
EDITORIAL: Marian’s bold act is inspirational
About a decade ago, when Marian University came up with the outlandish idea of starting a medical school, few imagined it would really happen.
Amid Obamacare’s changes, WellPoint keeps old playbook
Even as it tries narrow networks, health insurer is trying to offer more choice of doctors now, but push for lower provider payments later.
Greenfield chamber seeks funds to preserve historic building
Less than 50 years after Hancock County was established in 1828, the building that now houses the Greater Greenfield Chamber of Commerce went up on the corner of State and South streets.
Franciscan doubles down on accountable care
Franciscan St. Francis Health earned a $6.6 million bonus from the Medicare program for its success at keeping central Indiana patients out of the hospital and the emergency room. So the hospital system will expand its participation in so-called accountable care programs to all its Indiana territories.
Most individuals will pay less, not more, in Obamacare exchanges
Even with premiums doubling from 2012 to 2014, Obamacare’s subsidies will offset premium increases for most Hoosiers buying health insurance via the new federal exchanges.