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Medicaid is the United States health program for eligible individuals and families with low incomes and resources. It is a means-tested program that is jointly funded by the states and federal government, and is managed by the states.

Merck reports $342 million net income for 2010 third quarter

Merck & Co., Inc. today announced financial results for the third quarter of 2010. The company reported non-GAAP (generally accepted accounting principles) earnings per share (EPS) for the third quarter of $0.85, which excludes purchase accounting adjustments, restructuring costs, merger-related expenses and a $950 million legal reserve.

29 Oct 2010

LifePoint Hospitals third quarter revenues increase 11.7% to $832.3 million

LifePoint Hospitals, Inc. today announced results for the third quarter and nine months ended September 30, 2010.

29 Oct 2010

Amerigroup third quarter net income increases from $22.5 million to $84.3 million

Amerigroup Corporation today announced that net income for the third quarter of 2010 was $84.3 million, or $1.68 per diluted share, versus net income of $22.5 million, or $0.43 per diluted share, for the third quarter of 2009 and compared to $67.2 million, or $1.31 per diluted share, for the second quarter of 2010.

29 Oct 2010

Magellan reports $750.3 million net revenue for third quarter 2010

Magellan Health Services, Inc. today reported financial results for the third quarter of 2010, as summarized below, and increased guidance for the full year. For the quarter ended September 30, 2010, the Company reported net revenue of $750.3 million, segment profit of $90.1 million, and net income of $44.8 million or $1.31 per diluted common share.

29 Oct 2010

Good report cards mean more money for nursing homes

Nursing homes that improve their quality of care - and thereby score high on public report cards - might see financial gains.

29 Oct 2010

VCU Massey receives grant to expand cancer research community program

Virginia Commonwealth University Massey Cancer Center recently was awarded a two-year, $2.4 million grant from the Virginia Tobacco Indemnification and Community Revitalization Commission (Tobacco Commission) to expand the breadth of the center's community involvement and to grow its state-of-the-art clinical research and cancer specialist delivery system.

29 Oct 2010

New surgical centers open in Penn., faith-based clinic in Michigan

Stand-alone surgical centers in York County as well as the entire state have tripled in the past decade, according to a report released earlier this month by the Pennsylvania Health Care Cost Containment Council, The York Dispatch reports.

29 Oct 2010

Talecris third quarter net revenue increases 2.8% to $407.0 million

Talecris Biotherapeutics Holdings Corp. today announced its financial results for the three and nine months ended September 30, 2010 and filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission (SEC).

29 Oct 2010

Statewatch: D.C poised to approve Johns Hopkins-Sibley deal; Controversial Medicaid cuts in Idaho, Indiana

The Washington Post: "The agreement for Baltimore-based Johns Hopkins Health System to acquire Sibley Memorial Hospital is likely to be approved by District officials as soon as Thursday, giving the world-class academic medical center its first foothold in the District. Driven by Sibley's need to ensure long-term financial stability by increasing its volume of patients, the move will allow Hopkins to improve its market position in the Washington-Baltimore region.

29 Oct 2010

KCI announces U.S. launch of Skin IQ MCM for pressure ulcers

Kinetic Concepts, Inc. announced today the U.S. launch of Skin IQ Microclimate Manager (Skin IQ MCM) through KCI's Therapeutic Support Systems business. Skin IQ MCM is a for-sale, powered coverlet offering clinicians one of the most effective and intuitive products available for the prevention and management of pressure ulcers.

28 Oct 2010

Administrative costs of Medicare plans decline 4.1% in 2009

Administrative expenses of Medicare plans fell by 4.1% per member in 2009 versus an increase of 8.3% in 2008. After eliminating the effects of product mix, costs declined by 4.1% in 2009 versus 4.1% growth in 2008.

28 Oct 2010

Consumer groups still concerned as insurance rules are considered by HHS

The Wall Street Journal Health Blog: Consumer groups are already concerned that insurers might lobby HHS Secretary Kathleen Sebelius to weaken the medical-loss ratio rules suggested by the National Association of Insurance Commissioners last week. "Today, consumer representatives sent a letter to HHS Secretary Kathleen Sebelius to urge her not to tinker too much with what the NAIC came up with." The medical-loss ratio rules will determine "how much insurers pay out in health care compared with the total premiums they collect.

28 Oct 2010

Mass. hospitals turn away mentally ill kids, Anthem braces for rate hearings, other state news

The Boston Globe reports that children with mental illnesses are "increasingly being turned away from some Massachusetts hospitals' psychiatric wards, a problem the hospital industry acknowledges and blames on insufficient insurance payments to cover treatment of such sick children. … Dr. JudyAnn Bigby, the state's health and human services secretary, said yesterday that hospitals licensed to treat mentally ill children must provide that care if they have sufficient staffing and beds, regardless of the reimbursement rates" (Lazar, 10/27).

28 Oct 2010

Gov. candidates in Florida, Minnesota offer few details on health care

News outlets report that gubernatorial candidates in Florida and Minnesota are offering little details about their plans for health spending.

28 Oct 2010

Glaxo to pay $750 million settlement for defective, unsafe medicines

The New York Times: "GlaxoSmithKline, the British drug giant, has agreed to pay $750 million to settle criminal and civil complaints that the company for years knowingly sold contaminated baby ointment and an ineffective antidepressant — the latest in a growing number of whistle-blower lawsuits that drug makers have settled with multimillion-dollar fines." The 20 medicines that were produced with "questionable safety" measures included "Avandia, a troubled diabetes drug; Coreg, a heart drug; and Tagamet an acid reflux drug."

28 Oct 2010

Elan 2010 third quarter total revenue decreases 2% to $281.4 million

Elan Corporation, plc today reported its third quarter and first nine months 2010 financial results.

27 Oct 2010

Coalition pushes to replace Conn. Insurance Commissioner; Ind. lawmakers raise questions about Medicaid program

State Sen. Edith Prague and a coalition of labor unions and citizen groups are asking Gov. M. Jodi Rell to replace Insurance Commissioner Thomas Sullivan.

27 Oct 2010

Physicians' efforts keep payments on Medicare database confidential

The Wall Street Journal mined a database with extensive information about tax payments that suggests fraud and discovered a New York City doctor who most likely took more than $2 million from Medicare. But the paper could not name her because of strict confidentiality requirements on physician reimbursements.

27 Oct 2010

Upper Peninsula Health Plan awards 3-year PBM contract to Catalyst Rx

Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of Catalyst Health Solutions, Inc. (NASDAQ: CHSI), announced today the award of a three-year PBM contract by the Upper Peninsula Health Plan, a Medicaid Health Care Provider serving the Upper Michigan Counties. The contract covers approximately 38,000 members.

27 Oct 2010