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Posts Tagged ‘healthcare risks’

Zika threat continues to rise

April 20, 2016 Leave a comment

ZIKAVIRUSWith the warm weather approaching, many people are thinking of summer vacations and shedding the winter clothes. However, with the changing seasons comes the threat of bugs and the viruses they carry. As we previously discussed on our blog, Zika Virus is the threat of the year and does not appear to be going anywhere due to the lack of knowledge surrounding the virus.

According to the CDC, there are currently 358 confirmed cases of Zika Virus in the United States, but it’s important to note that 351 of these are from those who have traveled to other countries where the virus lives, and only 7 are due to sexual transmission. The biggest concern for the CDC is the transmission of the disease from one person to another. Women who have been in an infected area are told to wait 8 weeks before trying to conceive; while men are told to wait 6 months, as the virus has been noted to last even longer in their bodies. The transmission of the disease between partners and to an unborn child is a significant scare due to the lack of preparation against the disease.

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Takeda Pharmaceutical agrees to settlement concerning diabetes drug Actos

gavel_pillsOn Tuesday April 28, Japan’s Takeda Pharmaceutical agreed to a $2.4 billion settlement involving thousands of lawsuits from patients and their family members claiming that the company’s diabetes drug Actos was responsible for causing bladder cancer. Takeda stated that this settlement would resolve the majority of product-liability lawsuits linked to Actos, but a $2.7 billion charge against earnings will be necessary to cover the settlement and costs for defending the outstanding cases.

Takeda, however, did not admit liability. The company’s reason for settling was to “reduce the uncertainties of complex litigation,” and stated that the claims brought forth in the lawsuit were without merit. Takeda also added that Actos’ benefits offset any risks caused by the drug, which is sold in the United States and other countries. Read more…

Attention doctors and drug makers: Sunshine Act database goes live Sept. 30th

September 18, 2014 Leave a comment

money_medical_computerOn September 30th, the Centers for Medicare and Medicaid Services (“CMS”) will publicly release all sales and marketing expenses from drug companies to doctors and hospitals. While cost transparency tends to focus on medical providers and insurers, the financial relationships between drug manufacturers, physicians and teaching hospitals have become heavily scrutinized. The initiative, arising from a section of PPACA commonly known as the “Sunshine Act,” is part of nationwide effort to promote transparency throughout the healthcare industry. The law requires applicable manufacturers of covered drugs, devices, biological products and medical supplies to report to CMS information about payments made to physicians and teaching hospitals as well as any ownership and investment interests held. Submitting the information to a federal entity will hopefully reduce gifts and kickbacks that doctors sometimes receive when agreeing to use a drug company’s product.  Read more…

Why a harder market is expected for healthcare risks in 2013

February 1, 2013 Leave a comment

opEd-hikes“There is hardly anything in the world that someone cannot make a little worse and sell a little cheaper, and the people who consider price alone are that person’s lawful prey.”                   – John Ruskin

As we enter 2013, there will be a great deal written about what to expect in the coming year with respects to Property & Casualty (P&C), Professional Liability and other crucial insurance coverage premiums for the healthcare industry. Brokers, insurance carriers, lawyers and consultants will all weigh in on their expectations for the coming year. These opinions can be valuable, however they often begin to sound the same. While I risk simply becoming another “voice” in this plethora of opinions, I do have some idea as to what 2013 has in store for healthcare risks.  Read more…

Skilled nursing facilities facing cuts

September 6, 2011 Leave a comment

The Center for Medicare & Medicaid Services recently ruled there will be a 2012 Medicare reimbursement reduction of approximately $4 billion (11.1%) on a year-over-year basis for skilled nursing facilities (SNF). There also is the potential of a “claw back” provision designed to seek reimbursement for certain payments made in the past year.

Not-for-profit skilled nursing facilities generally manage with a thin margin; typically in the 3 – 5% range. The planned Medicare reduction coupled with generally recognized underpayments from Medicaid may damage an already challenged business segment – a clear threat to the skilled nursing facility sector – the second largest healthcare facility employer country-wide.

This reduction may force skilled nursing facilities to make tough decisions about continued employment and patient levels and in the worst case scenario continued viability. The trickle Read more…