A government watchdog wants to know if hospitals accurately report revenue they receive from group purchasing organizations, a question that may have broader implications for the federal safe harbor that allows GPOs to earn and distribute such administrative fees.
As the number of medical-device recalls has rapidly increased, so has the complexity of the recalls. That is raising questions about safety and risks for hospitals that mostly still track and locate faulty products manually.
For many systems across the country, the expense side of the balance sheet is growing almost as fast as the revenue side, prompting providers to look for new ways to cut costs.
Some low-cost generic drugs that have helped restrain healthcare costs for decades are seeing unexpected price spikes of up to 8,000%, prompting a backlash from patients, pharmacists and now lawmakers.
About one-fifth of the hospitals, health systems and purchasing groups that own the Premier healthcare alliance made nearly $120 million by selling shares in a secondary offering underway this month.
The average price of computed tomography systems went up 15% in the past month as more hospitals purchased high-end scanners, including two new premium models that have been on the market for less than a year, according to the Modern Healthcare/ECRI Institute Technology Price Index.
The important work of group purchasing organizations has been the subject of several recent studies, including a new survey sponsored by the American Hospital Association and conducted by Lawton Robert Burns at the Wharton School. While I am heartened that Burns found that GPOs produce savings and...
Premier, the Charlotte, N.C.-based provider of group purchasing and data tools and services for hospitals, said revenue rose 15% to $229.3 million in the first quarter because of increased administrative fees and higher utilization of its direct-sourcing and specialty-pharmacy businesses.
Lower taxes for medical device makers. Lighter regulations for coal. If the new Republican-led Congress manages to push through these policy changes it could lift stocks in the health and energy industries, market strategists say.
A new Congressional Research Service report found that Obamacare's medical-device excise tax probably will affect the purchasers of medical supplies and devices more than manufacturers' bottom lines. But the report estimates that the financial impact of the tax is likely to be negligible.
As hospitals increase orders for personal protective equipment, some experts are concerned that demand will lead to price gouging, supply shortages, and in some cases, hoarding by hospitals.
Premier healthcare alliance member-owners now have the chance to convert their shares and sell their stock in the firm, a year after the company went public.What they will do and when is still not known however.