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VAPAHCS acquires 15 Zargis Cardioscan systems

Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp., today announced that the VA Palo Alto Health Care System, a northern California based hospital group that is part of The Department of Veterans Affairs nationwide network of hospitals, recently purchased 15 Zargis Cardioscan systems.

30 Jul 2010

First Edition: July 30, 2010

In today's headlines, a report about the administration's new high-risk pool regulations and how they address abortion coverage, as well as other details related to the new health law and the insurance marketplace.

30 Jul 2010

Amerigroup second-quarter total revenues increase 11.3% to $1.4 billion

Amerigroup Corporation today announced that net income for the second quarter of 2010 was $67.2 million, or $1.31 per diluted share, versus net income of $49.6 million, or $0.94 per diluted share, for the second quarter of 2009. Second quarter of 2009 results were positively impacted by a tax adjustment of $0.43 per diluted share related to litigation settled in 2008. Excluding the tax adjustment, second quarter of 2009 net income would have been $27.2 million, or $0.51 per diluted share.

30 Jul 2010

Governor Rendell announces $2.5M investment to help boost higher education, health care industries

Colleges, universities, academic medical institutions and research institutions across Pennsylvania will be better able to recruit top faculty researchers and get products to the marketplace faster with a new $2.5 million investment announced today by Governor Edward G. Rendell.

30 Jul 2010

Coventry Health Care reports $2.9 billion total operating revenues for second-quarter 2010

Coventry Health Care, Inc. today reported consolidated operating results for the quarter ended June 30, 2010. Operating revenues totaled $2.9 billion for the quarter with net earnings of $1.0 million, or $0.01 earnings per diluted share (EPS). These results include a favorable impact from the Medicare Advantage Private Fee-for-Service (MA-PFFS) product of $0.18 EPS and an unfavorable impact related to the previously announced provider class action litigation in Louisiana of $1.18 EPS.

30 Jul 2010

BioScrip second-quarter 2010 revenue increases 25% to $412.0 million

BioScrip, Inc. announced 2010 second quarter revenue of $412.0 million, operating income of $13.5 million and net income of $3.1 million, or $0.06 per diluted share. Second quarter adjusted earnings per share (detailed in schedule 5) was $0.07 per diluted share. Adjusted EBITDA for the quarter was $18.4 million. All 2010 per share amounts have been adjusted to reflect the Company's issuance of 13.1 million shares in conjunction with the acquisition of CHS.

30 Jul 2010

Ontario's hospitals applaud Ministry of Health and Long-Term Care's ER Wait Times Program expansion

The Ontario Hospital Association (OHA) is encouraged by the Ministry of Health and Long-Term Care's announcement to expand its Emergency Room (ER) Pay for Results Program. The OHA considers this expansion a positive step forward in improving both access to care and health system accountability.

30 Jul 2010

Wash. regulations would restrict pain killer prescriptions; Texas Lt. Gov. bemoans costs associated with health law; Fla. insurance pilot project shows early success

The New York Times: "In an unusual move, a state government is developing regulations meant to stop doctors from prescribing higher doses of powerful — and often dangerous — pain killers for patients who are not benefiting from them. The effort, in Washington State, represents the most sweeping attempt yet to stem what some experts see as the excessive use of prescribed narcotics, and it is being closely watched by medical professionals elsewhere.

30 Jul 2010

Families with male breast cancer perceive as being at higher risk: Study

People with a family history of male breast cancer perceive themselves to be at higher risk of developing the disease than do patients with a family history of female breast cancer; however those with male breast cancer in their families are less likely to know about or seek genetic testing than those with a family history of female breast cancer, according to a study led by researchers at the University of Louisville's James Graham Brown Cancer Center.

30 Jul 2010

New health reform law to benefit 30 million women: Commonwealth Fund report

Thirty million women will benefit from the new health reform law over the next decade, either through new or strengthened insurance coverage, according to a new report from The Commonwealth Fund. In the first analysis of its kind, the authors report that the law will stabilize and reverse the growing exposure to health costs that women now experience by subsidizing health insurance for up to 15 million currently uninsured women, and strengthening existing coverage for 14.5 million women who are considered underinsured-those who have health coverage that does not adequately protect them from high medical expenses.

30 Jul 2010

Company health plans may increasingly demand proof of family

"Think your whole family is covered by your company health plan? Get ready to prove they're actually your kin." Under the new health overhaul law, starting next year "employers will have to provide coverage for dependents of employees [until] age 26. That will further inflate coverage costs for companies at a time when employers are already bracing for a 9% jump in their health care plan expenditures in 2011."

30 Jul 2010

Health Care REIT declares second-quarter cash dividend

Health Care REIT, Inc. announced today that its Board of Directors declared a cash dividend for the quarter ended June 30, 2010 of $0.69 per share. The dividend will be the company's 157th consecutive quarterly payment, payable August 20, 2010, to stockholders of record on August 9, 2010. The dividend is a one cent increase from the dividend paid for the first quarter of 2010.

30 Jul 2010

Amgen second-quarter total revenue increases 2% to $3,804 million

Amgen reported adjusted earnings per share (EPS) of $1.38 for the second quarter of 2010, an increase of 7 percent compared to $1.29 for the second quarter of 2009. Adjusted net income increased 1 percent to $1,326 million for the second quarter of 2010 compared to $1,311 million for the second quarter of 2009.

30 Jul 2010

Insured Americans are using fewer medical services while employers consider wellness incentives

Insured Americans are using fewer medical services, raising questions about whether patients are consuming less health care as they pick up a greater share of the costs. The drop in usage is showing up as health-care companies report financial results. Insurers, lab-testing companies, hospitals and doctor-billing concerns say that patient visits, drug prescriptions and procedures were down in the second quarter from year-ago levels. Others say that consumers are beginning to forgo elective procedures like knee replacements.

30 Jul 2010

Republicans take on cost-cutting panel backed by budget chief Orszag

Several Senate Republican leaders are now pushing a new, partial health-overhaul repeal bill that targets a Medicare cost-cutting panel, The Hill reports. The panel, the Independent Payment Advisory Board, would make cost-cutting recommendations whenever spending exceeds set benchmarks. Congress would have to adopt them, or come up with its own plan.

30 Jul 2010

Insurers Aetna, WellPoint look for their place in health reform; WellPoint profit up

Aetna President Mark Bertolini said Wednesday that his company has seen much slower sales of national insurance accounts where large employers pay Aetna to administer plans for employees, The Associated Press reports. Under the new health overhaul, Bertolini said he expected less movement in that market because of the uncertainty in the law.

30 Jul 2010

Business groups, GOP prepare anti-health law campaigns for midterm elections

Politico reports that business groups are preparing ads for the November elections and some are targeting health reform. "The U.S. Chamber of Commerce has already vowed to invest $75 million in the mid-term elections. And health insurers are also planning to play big in November, although the specifics remain in flux. … Both America's Health Insurance Plans and its Coalition for Medicare Choices are expected to play a major role in the messaging, along with individual companies. But neither group, according to sources, plans to directly attack Democrats, which would risk infuriating the White House as it writes reform regulations as well as the Blue Dog Democrats who opposed the legislation."

30 Jul 2010

Insurers change kids coverage stance after HHS clarifies new rules

Health insurers have started to back down "on their decision to pull out of the child-only coverage market after the Obama administration addressed their concerns about the potential damage to their bottom lines," The Hill reports. "The Department of Health and Human Services (HHS) on Tuesday clarified regulations mandating that insurance plans agree to cover sick children.

30 Jul 2010

Economy continues to impact finances of health companies

Despite a sluggish year, health care investors can look forward to growing emerging markets and a possible change in the U.S. political climate, Forbes reports. "Health care has not had a banner year in 2010 as the sector's stocks have underperformed the market on account of reform in the United States and financial problems in Europe. But there's hope for investors in shares of companies that stand on their own fundamentals, particularly those that have been successful in growing sales to emerging markets.

30 Jul 2010

Transforaminal injection of steroids is a viable alternative for lumbar radicular pain surgery

A recent study from Australian researchers determined that transforaminal injection of steroids was a viable alternative to surgery for lumbar radicular pain due to disc herniation. Full details of the study appear in the August issue of Pain Medicine, a journal published by Wiley-Blackwell on behalf of the American Academy of Pain Medicine, the Faculty of Pain Medicine of the Australian and New Zealand College of Anaesthetists, and the International Spine Intervention Society.

30 Jul 2010