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Texas developer and New Hampshire not-for-profit promise attention for seniors who prize stable prices
A Texas developer of retirement communities has targeted Carmel for a style of assisted living new to the Indianapolis area that offers on-site health care for the unusual arrangement of a fi xed monthly fee.
Financial crisis, recession hammer deal flow
Companies searching for a merger or acquisition partner had one heck of a time finding a match last year. Place much of the
blame on the credit crunch that rattled the nation’s economy and sent deal-making into a downward spiral.UPDATE: Lilly settles Zyprexa lawsuits-WEB ONLY
Eli Lilly and Co.’s guilty plea for improper marketing of Zyprexa is its second such plea in just over three years.Indianapolis-based Lilly pleaded guilty to one violation of the Food, Drug and Cosmetic Act on Thursday and agreed to pay $1.42 billion to settle both that criminal charge as well as civil lawsuits in which […]
UPDATE: WellPoint ‘surprised’ by Medicare action-WEB ONLY
Claims-payment snafus caused by computer problems are causing fits for WellPoint Inc. – again. The federal Medicare program told WellPoint it can no longer sign up new customers for the Medicare plans it operates, the company confirmed late yesterday. That’s because its claims-payment problems caused some seniors to be denied payment for their medications, putting […]
Medicare hits WellPoint with sanctions-WEB ONLY
WellPoint Inc.’s chronic computer problems have caused the Indianapolis-based insurer to be banned from enrolling customers in Medicare drug plans, Bloomberg reported this afternoon. A spokesman for the government program told Bloomberg the computer glitches are putting patients at risk. The sanctions were disclosed to WellPoint today in a letter from the Centers for Medicare […]
Hospitals brace for ‘errors’ rule: Financial impact of new Medicare policy still uncertain
Medicare’s new rule to refuse to pay hospitals for “preventable errors” hasn’t caused hospital administrators to lose sleep about lost revenue. But they do worry that the new rule, which went into effect Oct. 1, could increase the number of costly malpractice lawsuits filed against their hospitals. It’s not clear yet what the financial impact of Medicare’s new “no-pay” rule will be. But companies that make their money supplying hospitals with equipment and services have wasted no time using the…
BKD buys Thomas Healthcare Consulting
Thomas Healthcare Consulting, an Indianapolis firm that helps long-term care facilities with reimbursements from Medicare and Medicaid as well as other issues, has been acquired by BKD LLP. BKD is an accounting and consulting firm headquartered in Springfield, Mo. Financial terms were not disclosed. Robert Thomas, who founded Thomas Healthcare in 1989, is joining BKD […]
Lilly Endowment crawls toward diversification goal: Bear market, low Lilly stock price slow selloff
Lilly Endowment Inc. is still on its journey to sell off $2 billion of its Eli Lilly and Co. shares. But after a slow start and a few stops for rest, it may take a little longer to get there than originally thought. The endowment, the single largest holder of Lilly stock, announced its plan to diversify its holdings back in July 2006. For nearly 70 years, the not-for-profit held its wealth almost exclusively in the pharmaceutical company’s stock. So…
UPDATE: Investors cheer WellPoint earnings
Wall Street rejoiced today after WellPoint Inc. posted second-quarter profit that exceeded analysts’ estimates. Investors bid up shares of the Indianapolis-based health insurer as much as 9 percent. As of late this morning, the stock traded at $52.06, up 6.8 percent. WellPoint stock rose along with broader markets, which surged as the price of crude […]
New president shakes up nursing home group: Three quarters of staff leaves within months of arrival
Steve Smith has shaken up the Indiana Health
Care Association so much, the group representing Indiana’s for-profit nursing homes is hardly recognizable to those who knew
it before. And the way Smith tells it, he’s just getting started.Local mental health centers caught in funding limbo: Federal effort to shift costs to states on hold, but not-for-profits’ budgets for next year must be completed now
At Indianapolis-based Adult and Child Mental Health Center Inc., Executive Director Bob Dunbar has developed a contingency plan as he works on the agency’s $25 million budget for next year. He has two versions of a spending plan for the center, which provides mental health services for 4,200 children and adults a year. One includes moderate cuts tied to state funding changes, and the other deals with massive cuts pushed by the federal government. In the worst-case scenario, as much…
Hospital loses appeal for higher reimbursements
The federal government has rebuffed an attempt by Ball Memorial Hospital in Muncie to pay higher reimbursements for the Medicaid and Medicare patients it serves. Ball Memorial, which lost $7 million on the patients last year, is reimbursed 86 cents for every dollar of the costs. Many other hospitals in the state receive 96 cents, […]
WellPoint nabs New York, Connecticut contracts
WellPoint Inc. has won a contract to administer the Medicare program in New York and Connecticut, a deal worth up to $323 million over five years, the company announced today. The Indianapolis-based health insurer will perform key Medicare administrative functions, for its contracts with hospitals, nurses and physicians, including appeals, reimbursement, claims processing, medical review […]
Arcadia buys Carolina care firm
Indianapolis-based Arcadia Resources Inc. has acquired a small in-home health care company in North Carolina for an undisclosed price. Carolina Care generated $2.1 million in revenue last year serving Medicaid patients from three locations. Both companies have home health care offices in Winston-Salem, N.C., which Arcadia plans to merge to save money. “Expanding our in-home […]
WellPoint, adds, loses executives
WellPoint Inc. hired Kevin R. Hayden as president of its Medicaid business division, the company announced today. Hayden will begin the job April 21. The Indianapolis-based health insurer has contracts with Medicaid programs in 14 states, including Indiana, serving 2 million customers. WellPoint has more than 35 million customers nationwide. Before joining WellPoint, Hayden was […]
Federal survey of patients puts hospitals to the test: Satisfaction questionnaire ranks criteria ranging from room cleanliness to communication skills of providers
New patient satisfaction scores compiled by the federal government and posted online give consumers more feedback than ever regarding the care hospitals provide. The usefulness of that information is up for debate. On its Hospital Compare Web site, the Centers for Medicare & Medicaid Services tracks technical measures that show how often hospitals provide certain types of care that is recommended for patients treated for various conditions-heart attacks or pneumonia, for instance. Starting late last month, the agency began including…
Rooney: healer or heretic in health insurance industry?
The “father of health savings accounts” isn’t satisfied. At 80, J. Patrick Rooney is gearing up for another health care reform
battle in Washington–five years after winning a colossal victory when Congress awarded health savings accounts tax-free status.UPDATE: EDS to occupy new Purdue facility
The 200-plus workers EDS plans to add at Purdue Research Park will be housed in 45,000 square feet of a new, 78,000-square-foot office building. Called Innovation Center, the building will open in early 2009, the university said as part of this afternoon’s announcement. Many of the new positions will be software engineers and business analysts. […]
EDS to add 100-plus jobs in West Lafayette
EDS plans to hire more than 100 workers at a new location in Purdue Research Park in West Lafayette, according to sources familiar with an announcement scheduled this afternoon. The exact number of jobs was not available. The Plano, Texas-based computer services firm would not comment. EDS will hire business analysts, systems and software developers […]