Medicare News and Research

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First Edition: July 29, 2010

In today's headlines, a new poll shows opposition to health reform declining, and Peter Orszag makes his exit as budget chief -- still pressing lawmakers to make tough budget choices while implementing the new law.

29 Jul 2010

HealthSpring reports net income of $55.8M for second-quarter 2010

HealthSpring, Inc. today announced its results for the second quarter ended June 30, 2010.

29 Jul 2010

FDLI's monograph describes impact of manufacturer's commercial pricing decisions on product pricing

In FDLI's latest monograph, Selling Pharmaceuticals and Biologics to the Federal Government: Federal Supply Schedule and Federal Pricing Requirements, Joy Sturm, Allison Pugsley and Stephen A. Smyers of Hogan Lovells US LLP detail how pharmaceutical and biologics manufacturers can deal effectively with government contracting requirements and price calculation requirements.

29 Jul 2010

BD third-quarter revenues increase 3.2% to $1.878 billion

BD, a leading global medical technology company, today reported quarterly revenues of $1.878 billion for the third fiscal quarter ended June 30, 2010, representing an increase of 3.2 percent from the prior-year period, or 3.9 percent on a foreign currency-neutral basis.

From BD (Becton, Dickinson and Company) 29 Jul 2010

Clarient second-quarter net revenue increases 21% to $28.7 million

Clarient, Inc., a premier anatomic pathology and molecular testing services resource for pathologists, oncologists and the biopharmaceutical industry, today reported financial results for the second quarter ended June 30, 2010. Second quarter 2010 net revenue was $28.7 million, a 21 percent increase over the $23.7 million net revenue in the 2009 second quarter and a sequential increase of nearly eight percent over the $26.6 million in the first quarter of 2010.

29 Jul 2010

Reliance on assistive devices can affect everyday life in multiple ways: Study

Obese older adults are more likely to use walkers, canes and other mobility devices at a younger age, and may run the risk of using them incorrectly, according to new research from Purdue University.

29 Jul 2010

Oxford Life Insurance releases new Medicare Supplement product portfolio

Oxford Life Insurance Company today announced the release of its new Medicare Supplement product portfolio. The Phoenix-based life insurance company has plans to market Plans A, C or F, and N in more than 35 states.

29 Jul 2010

WellCare Health Plans awarded URAC accreditation

WellCare Health Plans, Inc. announced today that it has been awarded a Full Health Plan Accreditation for its HealthEase of Florida and WellCare of Florida subsidiaries by URAC, a Washington, DC-based health care accrediting organization that establishes quality standards for the health care industry. URAC's Health Plan Accreditation standards include key quality benchmarks for network management, provider credentialing, utilization management, quality management and improvement and consumer protection.

29 Jul 2010

Community Health Systems second-quarter net operating revenues increase 5.1% to $3.2 billion

Community Health Systems, Inc. today announced financial and operating results for the three and six months ended June 30, 2010.

29 Jul 2010

Chemed second-quarter consolidated revenues increase 6.7% to $315.0 million

Chemed Corporation, which operates VITAS Healthcare Corporation, the nation's largest provider of end-of-life care, and Roto-Rooter, the nation's largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its second quarter ended June 30, 2010, versus the comparable prior-year period.

29 Jul 2010

Senate Subcommittee approves HHS funding bill, other health care bills readied

CongressDaily: The Senate Labor-Health and Human Services Appropriations Subcommittee approved a draft funding bill Tuesday for HHS, "moving a bill that would provide $170 billion in discretionary spending to related federal agencies, nearly $1 billion under the president's request." The bill gives $732 billion to the Department of Health and Human Services, $306 million more than the administration requested. "The House Labor-HHS Appropriations Subcommittee gave the health agency a similar boost in funding."

29 Jul 2010

Teva Respiratory reports positive results from BDP HFA Nasal Aerosol Phase III trial in seasonal allergic rhinitis

Teva Respiratory today announced positive results from a Phase III trial evaluating the efficacy and safety of beclomethasone dipropionate (BDP) hydrofluoroalkane (HFA) Nasal Aerosol in the treatment of seasonal allergic rhinitis (SAR). The study met all efficacy endpoints, demonstrating a statistically significant benefit as compared to placebo. Furthermore, the safety profile of BDP HFA Nasal Aerosol was similar to placebo.

29 Jul 2010

Insurers post strong earnings, but may hold back on bragging rights

Two leading insurers reported second-quarter earnings with rising profits this week.

29 Jul 2010

GOP continues call for health law repeal; Census releases uninsured data

The Washington Post: New census data reveal big differences among states in the rate of uninsured people under age 65. Massachusetts has the lowest rate, 7.8 percent, and Texas the highest, 26.8 percent. "The statistics are for 2007 and show health insurance coverage by state and for each of the country's roughly 3,140 counties. The numbers do not include the impact on millions of people who lost their jobs and health insurance after the recession began in December 2007."

29 Jul 2010

Hospitals focus on forming ACOs, resolving insurer disputes

News outlets report on hospital issues, including forming accountable care organizations and disputes with insurers.

29 Jul 2010

Anti-fraud efforts backed by AARP; Seniors cautioned about rebate cons

AARP on Tuesday "threw its influence" behind a number of plans to reduce Medicare fraud, including the bipartisan Medicare Fraud Enforcement and Prevention Act, which would increase penalties on nabbed fraudsters and supply more claims data to enforcers, The Hill reports. Separate legislation, "the Fighting Fraud with Innovative Technology Act, would bolster Medicare's claims screening process before payments are sent out" (Lillis, 7/27).

29 Jul 2010

CVS Caremark second-quarter net revenues decrease $864 million to $24.0 billion

CVS Caremark Corporation, today announced revenues, operating profit, and net income for the three and six months ended June 30, 2010.

28 Jul 2010

WellPoint second-quarter net income increases to $722.4 million

WellPoint, Inc. today announced that second quarter 2010 net income was $722.4 million, or $1.71 per share, including net investment gains of $19.6 million after-tax, or $0.04 per share. Net income in the second quarter of 2009 was $693.5 million, or $1.43 per share, and included net investment losses of $38.0 million after-tax, or $0.07 per share.

28 Jul 2010

Aetna reports operating earnings of $450.2M for second-quarter 2010

Aetna today announced second-quarter 2010 operating earnings of $450.2 million, or $1.05 per share, an increase of 54 percent over 2009. The increase was largely the result of a higher Commercial underwriting margin from favorable prior-period reserve development and improved underlying performance, partially offset by lower Commercial Insured membership.

28 Jul 2010

U.S. sues Satilla Regional Medical Center over fraudulent claims to health care programs

The United States has filed a complaint under the False Claims Act against Dr. Najam Azmat and the Satilla Regional Medical Center in Waycross, Ga., the Justice Department announced today. The complaint, filed in U.S. District Court for the Southern District of Georgia, alleges that the defendants submitted false or fraudulent claims to federal health care programs, such as Medicare.

28 Jul 2010