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Nashville Healthcare Leaders Visit Hungary and the Czech Republic (Nashville Medical News, 11.2004)
The Eastern European nations of Hungary and the Czech Republic are "ultimately trying to attract more private-sector involvement in healthcare on both the payer and the provider side," explains Matthew Gallivan, president of the Nashville Health Care Council. That's one reason why the council's fifth international trade mission Sept. 26 through Oct. 1 was to Budapest and Prague. Cosponsored by the Nashville Area Chamber of Commerce, the mission was an opportunity for Nashville-area business executives and professionals who serve the healthcare industry to scope out entrepreneurial opportunities and partnership prospects.


Beeman leads Saint Thomas again (The Tennessean, 11.17.2004)
When Tom Beeman stepped into the president's office at Saint Thomas Hospital yesterday, he was on familiar ground.

Beeman was president and chief executive officer of the Nashville hospital from November 1999 to January 2002. Yesterday, he became the facility's president again, replacing Dr. Deborah German, who stepped down after holding the hospital's top post for two years.

Related coverage
Hospital chief steps down (Nashville City Paper, 11.17.2004)
German steps down at Saint Thomas, Beeman fills in (NashvillePost.com, 11.16.2004 - subscription required)


Psychiatric Solutions' stock increases 4% (The Tennessean, 11.17.2004)
Franklin-based Psychiatric Solutions Inc.'s stock jumped nearly 4% yesterday after the company said it expects 2005 earnings to get a boost from a revised federal system governing how inpatient psychiatric hospitals are paid under Medicare.


Revenues rise 26.3% at Iasis Healthcare (The Tennessean, 11.17.2004)
Iasis Healthcare reported that net revenues for the quarter ended Sept. 30 were $357.7 million, a 26.3% increase over the $283.2 million reported in the same quarter a year earlier.


Beecher Carlson taps Willis exec to lead new local office (NashvillePost.com, 11.16.2004 - subscription required)
Atlanta-based Beecher Carlson Holdings, a global insurance firm, recently announced hired two executives to head its new Nashville office.



TENNCARE

TennCare talks 'anxious,' 'unsettling' (The Tennessean, 11.17.2004)
Governor Puts TennCare on Life Support (Nashville Medical News, 11.2004)



OUR INDUSTRY

Vandy study: More nurses on the job, but is it enough? (Nashville Business Journal, 11.17.2004)
With about 200,000 more registered nurses added to the job market since 2001, nursing as a profession is a growth area. But such gains are a drop in the bucket when it comes to filling what experts say is a growing shortage.

Related coverage
Nursing shortage eases with higher pay and a weak labor market (Wall Street Journal, 11.17.2004 - subscription required)


Nashville Accounting Firms Answer Growing Healthcare Client Needs (Nashville Medical News, 11.2004)
Smart heart patients turn to cardiologists for help. But when physicians need fiscal help, not all of them turn to a professional accountant with healthcare know-how. Experts at Nashville-area accounting and consulting firms say that's a mistake because today's medical business environment is so complex. Greg Eli, accounting and assurance partner with Brentwood-based Lattimore Black Morgan & Cain, says LBMC's growth is a direct reflection of the growing needs of the clients, both physicians and institutions. "What we were finding was that, while we were able to provide traditional accounting, tax and consulting services, we weren't necessarily able to provide some of the unique consulting services that a lot of these healthcare providers were looking for," he says. Thus LMBC founded a separate Healthcare Group in 2000 to meet the demand for higher-level assistance.


posted by nhcc at 9:14 AM

Iasis pays for investment deal with year-end loss (Modern Healthcare, 11.16.2004)
Iasis Healthcare, Franklin, Tenn., said profits increased in its fourth quarter ended Sept. 30, but the company reported a loss for the year largely because of costs incurred in Texas Pacific Group's $1.4 billion acquisition of a majority stake in Iasis in May.


GTCR invests in NewQuest Health (NashvillePost.com, 11.16.2004)
NewQuest Health Solutions, a Nashville-based operator of commercial and Medicare health plans, has taken on a new investor. GTCR Golder Rauner said that it has committed capital to New Quest to further the company’s expansion here, in Texas and Alabama, as well as in such new markets as Mississippi and Illinois.

Related coverage
GTCR Announces Agreement to Invest in NewQuest Health Solutions (Onlypunjab.com - India, 11.16.2004)
NewQuest signs funding agreement with Chicago firm (Nashville Business Journal, 11.16.2004)



Nashville device maker pushes for FDA approval and release in 2005 (Nashville Business Journal via HealthLeaders, 11.15.2004)
A Nashville-based company that makes external devices to monitor cardiac output and pulse has raised $3.75 million in early-round funding from local and national investors to fund the business, as it seeks U.S. approval to begin mass production in 2005. Led by Nashville healthcare veteran Bob Vraciu, Woolsthorpe Technologies plans to submit its application to the FDA in February, meaning its FloWave 1000 could hit the market by June under a fast-track approval process.


Symbion Provides Guidance for 2005; Signals Strong Growth (Business Wire, 211.15.2004)
Symbion, Inc. (NASDAQ/NM:SMBI), an owner and operator of surgery centers, today provided financial guidance for 2005. The Company announced that it expects to achieve revenues for 2005 in the range of $245 million to $249 million and earnings per share in the range of $0.78 to $0.80. Same store net patient service revenue growth for the year 2005 is expected to be 5% to 8% over 2004. In addition to financial guidance, the Company expects to make three to four acquisitions and add three to four de novo facilities in 2005.

Related coverage
Symbion expects earnings jump in 2005 (Nashville Business Journal, 11.16.2004)


CMS ruling means boon for Psychiatric Solutions (Nashville Business Journal, 11.16.2004)
Franklin-based Psychiatric Solutions Inc. has increased its earnings guidance for 2005, based on a ruling from the Centers for Medicare and Medicaid Services (CMS) that establishes a per diem prospective payment system for inpatient psychiatric hospitals.



TENNCARE

Advocates' concessions keep TennCare on table (Tennessean, 11.16.2004)
TennCare advocates offer olive branch to save program (Nashville Business Journal, 11.16.2004)
TennCare gets new chance for survival (Nashville City Paper, 11.16.2004)



posted by nhcc at 10:35 AM

Symbion buys 50% of Surgery Center (Tennessean, 11.13.2004)
Nashville-based Symbion Inc. said yesterday it has acquired a 50% interest in The Surgery Center of Kirkwood, Mo., a multispecialty surgery center in suburban St. Louis.

Related coverage
Symbion Adds Center in Missouri (Business Wire, 11.12.2004)


Iasis closes year on Q4 high note (Nashville Business Journal, 11.15.2004)
Franklin-based Iasis Healthcare continued to pick up momentum in the final quarter of its fiscal year ended Sept. 30.


Henry Ross named to Aegis board (Nashville Business Journal, 11.15.2004)
Henry Ross, chief operating officer of Nashville-based Aegis, has been elected to the company's board of directors.


Uninsured lawsuits filed (Nashville City Paper, 11.15.2004)
In what is becoming a growing trend in health care litigation, uninsured patients are suing Brentwood-based Community Health Systems Inc. (CHS).The class action suit, filed in August in Barbour County Circuit Court against Lakeview Community Hospital of Eufaula, Ala., and its parent company CHS, accuses the hospital company of overcharging the uninsured.


CMS changes lift local health care stocks (MSNBC, Nashville Business Journal, 11.15.2004)
It doesn't sound like a lot, but the market sure seems to like 3.3 percent.

Shares of several Nashville health care providers have risen sharply since the Centers for Medicare & Medicaid Services announced Nov. 3 that Medicare reimbursements will rise by that amount next year.


Changing market saps health of hospital stocks (Tennessean, 11.14.2004)
Health insurance with high deductibles and other large out-of-pocket expenses for patients is becoming the norm as insurers and businesses try to hold down the cost of providing medical coverage, but the trend could spell trouble for hospital profits, and before long, their stocks.


Governor to shed light on TennCare (Tennessean, 11.15.2004)
Bredesen to give major speech today; some ask if switch would save money
Gov. Phil Bredesen is poised to deliver a major speech on TennCare today as time ticks down to tomorrow's deadline to reach a compromise to save the health insurance plan for the state's indigent and uninsurable.

Aides to the governor said late last week that he will deliver a major speech on TennCare and education at the Tennessee School Boards Association annual convention this morning at Gaylord Opryland Resort & Convention Center.



Advocates to ask for moratorium (Nashville City Paper, 11.15.2004)
The Tennessee Justice Center, which represents some 1.3 million citizens currently on the state’s troubled TennCare insurance program, backed down Monday from several court settlements Gov. Phil Bredesen insists could ultimately kill the program.

Related coverage
TennCare legal battle costly (Nashville City Paper, 11.15.2004)
Nashville Cares files emergency TennCare motion (NashvillePost.com, subscription required, 11.12.2004)
McWherter predicts the Legislature will get involved in the TennCare dilemma. (WATE6.Knoxville, 11.14.2004)
No easy choices involving TennCare (Knoxville News Sentinel, subscription, 11.13.2004)
TennCare advocates back off court wins in effort to save program (WMCTV-Memphis, 11.15.2004)



TennCare money could fund pre-K program, governor says (Tennessean, 11.15.2004)
Tennessee could begin funding a universal public pre-K program if it dipped into projected savings from a scaled-down TennCare, Gov. Phil Bredesen told members of the Tennessee School Boards Association at their annual convention this morning.



5 local companies make Forbes list (Tennessean, 11.13.2004)
Five Nashville-area companies made the Forbes 2004 list of the nation's biggest private companies.

Ingram Industries was No. 101 with just under $2.2 billion in estimated sales and 6,730 employees. It has interests in book wholesaling (Ingram Book Group), inland marine transportation (Ingram Marine Group), insurance (Ingram Insurance Group) and digital fulfillment services (Lightning Source).

Others were: Vanguard Health Systems, No. 143, with nearly $1.8 billion in revenue and 14,247 employees; Ardent Healthcare Services, No. 207, with $1.3 billion in revenue and 10,100 employees; Iasis Healthcare, No. 263, with almost $1.1 billion in revenue and 8,200 employees; and Ingram Entertainment Holdings, No. 284, with $1.03 billion in revenue and 962 employees.

Iasis signed a deal to be acquired by the Texas Pacific investor group for $1.4 billion this summer.

Related coverage
5 Nashville companies on Forbes biggest private companies list (NashvillePost.com, subscription required, 11.12.2004)


HHS seeks comments on proposed national IT network (Modern Healthcare, 11.15.2004)
HHS is seeking public comment through Jan. 18 to further develop its proposal for a national health information network for moving electronic information among providers, patients and payers. Among the questions being asked are: Who should pay for building and operating the network? How should privacy and security be maintained? What kind of financial incentives should be offered? The health information network was proposed by David Brailer, HHS' national IT coordinator, in a July report to President Bush. Read the report. Read the request for information.


UPS buys distribution facility on old speedway site (MSNBC, 11.15.2004)
A subsidiary of United Parcel Service Inc. has bought the first building of a developing industrial park at the old Louisville Motor Speedway site and plans to use the facility to receive, store and distribute pharmaceuticals and medical devices.


Caremark Rx to Present at the Credit Suisse First Boston Healthcare Conference (BUSINESS WIRE, 11.15.2004)
Caremark Rx, Inc. (NYSE:CMX) today announced its intention to present at the upcoming Credit Suisse First Boston Healthcare Conference. The presentation is scheduled for Wednesday, November 17, 2004, at the Arizona Biltmore Hotel in Phoenix. An audio presentation will be broadcast live via the Internet.



posted by nhcc at 2:27 PM

Our Members/Our Region

Nashville council heads east (Modern Healthcare Outliers, 11.8.2004)
The Nashville Health Care Council took a different tack with its fifth annual European trade mission. The recently completed trip took a delegation of 25 to two capitals that were behind the Iron Curtain just two decades ago in Prague, Czech Republic, and Budapest, Hungary. Previous missions had been to wealthier, more established countries, such as France, Germany, Great Britain and Spain.


Centerstone program wins Eli Lilly award (Nashville Business Journal, 11.12.2004)
Nashville-based Centerstone has won an award from pharmaceutical company Eli Lilly and Co. for its ReConnect program, which helps those with mental illness through peer support and educational services.


Profits, enrollment, reserves up at Blues plans (Modern Healthcare, 11.12.2004)
The nation's Blue Cross and Blue Shield plans continued their wildfire profit and enrollment growth during the first half of 2004. According to the Blue Cross and Blue Shield Association, combined net income for its 41 independent affiliates jumped 32% to $3.7 billion in the six months ended June 30, from $2.7 billion in the year-ago period.


Survey says: Consumers want physician 'ratings' system (Nashville Business Journal, 11.12.2004)
A survey initiated by Nashville-based American Healthways shows that 80 percent of consumers want a "Consumer Reports" type of rating system for physicians in their community.

Related Coverage
BusinessWire, 11.11.2004


Community Health CFO makes $1.3M stock trade (Nashville Business Journal, 11.12.2004)
Community Health Systems chief financial officer Larry Cash has exercised an option to buy and sell 90,000 shares of the company's stock, netting about $1.3 million.


Acquisition costs hit Vanguard earnings in Q1 (Nashville Business Journal, 11.11.2004)
Vanguard's acquisition by the Blackstone Group socked its earnings in the first quarter. The Nashville-based hospital company showed a loss of $110 million in the quarter compared to earnings of $6.3 million in the first quarter a year ago.

Related Coverage
MarketWire, 11.11.2004


Willis names new Nashville office CEO (NashvillePost.com - subscription required, 11.11.2004)
Amid turbulence surrounding the civil suit against New York-based brokerage firm Marsh & McLennan, Brian Morgan has joined Willis Group Holdings as the new CEO of its Nashville office.


BlueCross proposes $200 mil. consolidated office complex (NashvillePost.com - subscription required, 11.11.2004)
BlueCross BlueShield of Tennessee has said it wants to consolidate nine of its Chattanooga office buildings into an office complex that would cost a total of $200 million.


LifeFlight proposes relocation of Shelbyville air ambulance base(NashvillePost.com - subscription required, 11.10.2004)
Vanderbilt University’s LifeFlight may move its Shelbyville-based air ambulance to the Tullahoma Regional Airport to better accommodate LifeFlight’s three new aircraft in a location with global positioning satellite (GPS) technology on-site.



HCA Inc. Announces Preliminary Results of Tender Offer (PRNewswire, 11.12.2004)
HCA Inc. (NYSE:HCA) announced today the preliminary results of its modified "Dutch" auction tender offer to purchase up to 61,000,000 shares of the company's common stock, which expired at 5:00 p.m., New York City time, on November 11, 2004. Based on the preliminary count by National City Bank, the depositary for the tender offer, approximately 62,568,220 shares of common stock were properly tendered and not withdrawn at a price at or below $39.75 per share, including shares that were tendered through notice of guaranteed delivery. HCA intends to exercise its right to purchase additional shares of common stock without extending the tender offer in accordance with applicable securities laws. Accordingly, HCA expects to purchase an aggregate of approximately 62,568,220 shares at a purchase price of $39.75 per share.


Symbion to Participate in the Credit Suisse First Boston 2004 Healthcare Conference (BusinessWire, 11.12.2004)
Symbion, Inc. (NASDAQ/NM:SMBI), an owner and operator of surgery centers, announced today that it will participate in the Credit Suisse First Boston 2004 Healthcare Conference to be held November 17 - 19, 2004, in Phoenix, Arizona.


Our Industry/Our State

Tennessee Medicaid may carry benefit limits (The Tennessean via HealthLeaders.com, 11.12.2004)
While all the details have yet to be worked out, Tennessee Gov. Phil Bredesen says his plan for replacing the state TennCare program is to set up a Medicaid program with specific limits on benefits, such as the number of adult hospital stays, doctor visits and prescription drugs each patient can receive. A new Medicaid program would apply to about 900,000 people who will continue to be the state's responsibility even if the bigger umbrella of TennCare is folded.

Related Stories
Health plan for poor near shutdown (Miami Herald, 11.11.2004)
McWherter Fighting To Save TennCare (NewsChannel5, 11.11.2004)



Drug firm shares in slump (Washington Post via HealthLeaders.com, 11.12.2004)
The 40 percent share price slide in Merck & Co. in the five weeks since it pulled the painkiller Vioxx off the market highlights larger problems in the pharmaceutical industry that may depress performance for years, according to academics and stock analysts who follow the sector.



Drug wholesalers change methods (Wall Street Journal (subscription required) via HealthLeaders.com, 11.12.2004)
America's three big drug wholesalers, AmerisourceBergen Corp., Cardinal Health Inc. and McKesson Corp., are trying to put an end to their risky business of betting on drug-price increases. And they are asking their suppliers -- the nation's pharmaceutical manufacturers -- for help.


FCG Launches FirstPAS; Hosted Solution for Pended Claims Automation in Health (Business Wire, 11.10.2004)
First Consulting Group (FCG), (NASDAQ: FCGI) today launched a hosted solution for health plans that reduces claims processing costs by as much as 50-75% with minimal upfront investment.

posted by nhcc at 9:23 AM

Call center (The Tennessean, 11.8.2004)
David Koziak, an agent with Grubb & Ellis/Centennial, put his client First Consulting Group into 21,000 square feet of space in one of the buildings in Duke Realty Haywood Oaks flexible office park off Interstate 24 near the Nashville International Airport. Todd Parker with Duke handled the negotiations on the landlord side.

First Consulting is putting in a call center for support work with health-care companies.


Jenkins gets new role with Ardent (The Tennessean, 11.6.2004)
K. Mark Jenkins has been named vice president of Sarbanes-Oxley compliance for Ardent Health Services and will be in charge of making sure the company meets the requirements of that corporate-governance law.


Healthy outlook? HealthSouth CEO learns to grin, bear good, bad news (Birmingham News, 11.10.2004)
HealthSouth Corp.'s new boss said Tuesday the Birmingham-based company is on the road to recovery, but it will take three or four more years to fully recover from an accounting scandal that triggered federal investigations.

Jay Grinney, hired as HealthSouth's chief executive in May, told the Birmingham Kiwanis Club during a Harbert Center luncheon that despite progress he has seen during six months at the helm, it will take at least three to four years "to get this company to where I feel it needs to be."


Advocat dips back to loss in Q3 (Nashville Business Journal, 11.10.2004)
Franklin-based Advocat Inc. earnings were up in the third quarter, but again the company dipped to a loss.


Essent's Missouri hospital affiliates with St. Louis facility (Nashville Business Journal, 11.10.2004)
Essent Healthcare Inc.'s Crossroads Regional Medical Center in Wentzville, Mo., has signed an affiliation agreement with St. John's Mercy Medical Center in St. Louis.


American Healthways makes Forbes 200 list (Nashville Business Journal, 11.10.2004)
Nashville-based American Healthways Inc. has made its first appearance on the Forbes 200 Best Small Companies list and has been included in the inaugural Baseline 500.


Iasis buys 47 acres in Arizona for $8.3M (Nashville Business Journal, 11.10.2004)
Franklin-based Iasis Healthcare is the new owner of a 47-acre parcel of undeveloped land in Mesa, Ariz.


American HomePatient COO quitting in March (Nashville Business Journal, 11.10.2004)
The chief operating officer of Brentwood-based American HomePatient Inc. is leaving the company.


Decreased expenses lead to NHR earnings rise (Nashville Business Journal, 11.9.2004)
Revenues were down for Murfreesboro-based National Health Realty Inc. in the third quarter, but decreased expenses kept the real estate investment trust on an upward earnings trend.


Gambro latest dialysis company to get DOJ subpoena (Nashville Business Journal, 11.9.2004)
Swedish dialysis company Gambro has received a subpoena from the U.S. Justice Department as part of an investigation into the use of tests and drugs for kidney disease patients, according to Reuters.

Gambro, which employs about 350 in the Middle Tennessee area, is the latest dialysis company to receive such a subpoena.


Caremark's Crawford cashes in $8.9M of stock (Nashville Business Journal, 11.9.2004)
Mac Crawford, CEO of Nashville-based Caremark Rx Inc., last week sold a block of company stock that netted him about $8.9 million.


Spheris’ lead investor sells stake (NashvillePost.com, 11.11.2004, subscription required)
Parthenon Capital, the majority shareholder of Franklin-based medical transcription company Spheris has sold its stake in the company to Warburg Pincus and Soros Private Equity.

Terms of the recapitalization transaction were not disclosed. The company’s management team, led by President and Chief Executive Steven Simpson, also will invest in Spheris and continue to lead operations, according to the company.


Consumers Doubt Bonus Pay Will Improve Physician Performance; National Poll Addresses Trend in Physician Incentives, Patient Outcomes - an American Healthways Survey (BusinessWire, 11.11.2004)
As government and commercial health plans throughout the country increasingly look to physician bonus programs to help drive improved health-care quality, a national poll released today found that 70 percent of consumers don't believe such programs would result in better quality, yet 80 percent said they would like to see a "Consumer Reports" type of rating of physicians in their community.

The survey - commissioned by American Healthways (Nasdaq: AMHC) to inform this year's Johns Hopkins/American Healthways Annual Physicians Meeting and Outcomes Summit, "Outcomes-Based Compensation: Pay-for-Performance Design Principles" - queried 1,223 adults with health insurance on a number of issues related to the topic of physician pay-for-performance. Of those surveyed, 43 percent reported having some form of chronic disease, 78 percent received their health insurance through an employer, 11 percent were covered by Medicare or Medicaid and 11 percent were self-insured. Margin of error for the poll is +/-2.9%.


HCA Announces One-Day Extension of Tender Offer for Shares of Common Stock to November 11, 2004 (PR Newswire, 11.11.2004)
HCA (NYSE: HCA - News) announced today that it is extending for one day the expiration date of its previously announced tender offer to purchase up to 61,000,000 shares of its common stock to 5:00 p.m., New York City time, on November 11, 2004. The tender period is being extended for one day at the request of the New York Stock Exchange to accommodate the double day settlement created by the Veterans' Day holiday.


Vanguard Reports First Quarter Results (MarketWire, 11.11.2004)
Vanguard Health Systems, Inc. (the "Company" or "Vanguard") today announced results for the first quarter ended September 30, 2004.

On September 23, 2004, affiliates of The Blackstone Group ("Blackstone") completed the purchase of a majority of the equity interests in the Company pursuant to a previously announced merger agreement. As a result of the transaction, Vanguard has a new parent company, VHS Holdings LLC ("Holdings"), the equity of which, along with the equity of Vanguard, is approximately 66% owned by Blackstone. Blackstone financed its $494.9 million equity investment with cash. Morgan Stanley Capital Partners rolled over $130.0 million of its existing Vanguard shares for an approximate 17% equity interest. Management and other investors purchased the remaining 17% equity interest by contributing existing Vanguard shares and/or utilizing cash proceeds from the merger.


Hospital brings 'wellness' to rural setting (Health Facilities Management, 11.11.2004)
St. Peter Community Hospital, which has served St. Peter, Minn., for more than 65 years, needed a new facility to replace the aging 1950s-era, city-owned hospital. Hospital administrators faced a choice: Rebuild on the existing site with little room for expansion or relocate to a new site north of the city. Aside from wanting more room, administrators wanted to ensure patient safety without stale, cold patient rooms. They also wanted to create a hospital where staff could be more efficient and satisfied with their work.

Eventually, the decision was made to move to the new site, situated on 28 acres of open land. The acreage provided ample growth opportunity for a planned dietary department, a medical office building and a long-term care facility. St. Peter CEO Colleen Spike was determined to build a hospital that met the current needs of the St. Peter population and would easily accommodate emerging health care technologies.

St. Peter opened the doors to its $15.6 million facility in August, and it is home to a couple "firsts": It is the first hospital in Minnesota to be built under the new International Building Code and the first hospital in the country to incorporate Nashville, Tenn.-based

Bredesen puts deadline on TennCare cuts or he will begin dismantling program
In a high-stakes match with health insurance for 430,000 Tennesseans on the table, TennCare advocates have one more card to play before Gov. Phil Bredesen folds his hand and does away with the state's troubled TennCare program.

That card, which Bredesen gives a 1-in-5 chance, is last-minute talks with the attorney he says is trying to block the cost-saving changes that are needed to save TennCare.

''It's not 50-50. It's a 20% chance'' that a compromise can be reached, Bredesen said yesterday, hours after he announced he would end TennCare unless a deal could be reached with enrollee advocates in seven days.
The governor, who had hoped to maintain TennCare with capped benefits, yesterday spoke of how his wife had taught him to ''play the hand that you get dealt,'' and said he had little choice but to dismantle the state's decade-old experiment with universal health care.

''TennCare was, and is, a wonderful dream,'' Bredesen said. ''It appears this morning that the dream is over.''

Related coverage
Governor Bredesen's Press Remarks on TennCare (pdf)
Some TennCare recipients vent anger on advocate (The Tennessean, 11.11.2004)
Questions about TennCare (The Tennessean, 11.11.2004)
The history of TennCare (The Tennessean, 11.11.2004)
How the loss of TennCare will affect … Taxpayers (The Tennessean, 11.11.2004)
Tennesee governor ends 'noble' TennCare (HealthLeaders.com, 11.11.2004)
TennCare gets a week (Nashville City Paper, 11.11.2004)
Bredesen starts dissolving TennCare program (NashvillePost.com, 11.11.2004, subscription required)

posted by nhcc at 11:02 AM

Symbion buys majority interest in two facilities (The Tennessean)
Symbion Inc. said it acquired majority interest in two surgery centers in Alabama.


People in business (The Tennessean)
Health care
Charles Spann has been named sales manager at Storage Systems Unlimited, a Cool Springs-based provider of storage and other medical equipment, and source vendor for Healthtrust Purchasing Group in Brentwood. Previously CAD manager and project manager, Spann will oversee the company's project managers in his new role.

Jeffrey S. Marwill is vice president of operations at SPI Healthcare Documentation, the medical transcription unit of SPI Technologies. Marwill was a senior project manager with Ardent Health Services in Nashville, where he was involved in several of the company's IT management projects. The Nashville-based company delivers round-the-clock medical transcription services to health-care organizations across North America through its Global MT Network.

Passport Health Communications Inc. in Franklin has announced these staff changes:
Alecia Talbott, previously director of client services for Edge Healthcare Research Inc., is responsible for inside sales.

Becky Sargent has been named marketing director.

Robert Coletti of Hermitage has been named regional sales director with AmeriPlan Corp.-a Plano, Texas-based provider of discounted health benefits.


N.M. Blue Cross wins Ardent contract (Nashville Business Journal)
Ardent Health Services has awarded a contract to Blue Cross and Blue Shield of New Mexico to administer the health plan for the hospital owner's employees.

Related stories:
MSNBC


American Healthways picks up URAC accreditation (Nashville Business Journal)
Nashville-based American Healthways Inc., a provider of disease management programs, has received accreditation from the Utilization Review Accreditation Commission for its programs on diabetes, congestive heart failure, coronary artery and chronic obstructive pulmonary disease.

Related stories:
Business Wire


Caremark’s Crawford nets $8.9 million in options transactions (NashvillePost.com)
Mac Crawford, chairman, president and chief executive of Caremark Rx (CMX), has netted more than $8.9 million on the exercise of 292,600 stock options and the subsequent sale of those shares, according to a Form 4 filed with the SEC Monday.


NY Times names Bredesen a presidential contender (NashvillePost.com)
A Sunday New York Times article names Tennessee Governor Phil Bredesen as one possible Democratic presidential candidate in 2008.

The article reasons that recent presidential candidate John Kerry’s voting record in the Senate hampered his presidential run; therefore a sitting governor is best positioned to win back the White House for the Democrats in four years.

The full article is available (here) (New York Times)


Atlanta hospital entrepreneur McAfee dies (NashvillePost.com)
James McAfee Jr., former chairman and president of Hallmark Healthcare Corp., died Wednesday in an Atlanta hospital after suffering a heart attack, according to Modern Healthcare.


New hospital moves forward in Scottsdale (MSNBC)
Scottsdale Healthcare (Arizona) is moving forward with plans to build a hospital in North Scottsdale that is expected to create 500 jobs.

The health system hired Nashville-based Earl Swenson & Associates, which designed Mayo Hospital three miles away from the proposed Scottsdale Healthcare Thompson Peak Hospital site near Scottsdale Road and Loop 101. A general contractor is expected to be selected within the next few months, said Tom Sadvary, recently selected as chief executive of Scottsdale Healthcare to replace Max Poll, who is retiring.


Caremark Rx to Present at the CIBC World Markets Fifteenth Annual Healthcare Conference (Business Wire)
Caremark Rx, Inc. (NYSE: CMX) today announced its intention to present at the upcoming CIBC World Markets Fifteenth Annual Healthcare Conference. The presentation is scheduled for Wednesday, November 10, 2004, at The Plaza Hotel in New York City. An audio presentation will be broadcast live via the Internet.


Gibson General Hospital Goes Digital with the Evolved Solution (Evolved Digital Systems website, press release and Nashville Business Journal, print edition)



OUR INDUSTRY/OUR STATE

Bredesen to decide soon about TennCare future (WTLV)
NASHVILLE, Tenn. Governor Bredesen says he will have to decide this month whether to continue trying to reshape TennCare by limiting benefits or choose instead to cut enrollment.

posted by nhcc at 3:45 PM

Psychiatric Solutions shares increase 13.4% (The Tennessean)
Shares of Psychiatric Solutions Inc. surged 13.4% yesterday after the federal Centers for Medicare and Medicaid Services issued new payment rules that analysts said would be ''very positive'' financially for the Franklin-based health-care company.

Related Stories:
Nashville Post (subscription required)


Adams leaving as CEO of National Healthcare (The Tennessean)
Andy Adams has stepped down as chief executive officer of National Healthcare Corp., a Murfreesboro nursing home operator, and will take a more active role in National Health Investors, a real estate trust that owns nursing homes, the companies announced yesterday.


Saint Thomas, Baptist reach deal with Aetna (The Tennessean)
Individuals who are insured by Aetna can go back to Saint Thomas and Baptist hospitals in Nashville on Jan. 1 without paying higher out-of-pocket expenses.

The two hospitals signed a two-year contract with Aetna on Monday and are rejoining the insurance company's managed care network. The hospitals left the network about a year and a half ago after they were unable to agree on rates with Aetna.


American HomePatient shares soar on profit report (Nashville Business Journal)
American HomePatient Inc. posted third-quarter profits of $3.0 million on revenue of $83.5 million. Those numbers are up from $426,000 and $83.9 million a year ago.


Florida BlueCross vet named to managed care post at HCA (Nashville Business Journal)
HCA Inc.'s MidAmerica division, which includes the TriStar Health System, has hired James Koss to be its director of managed care.


Magazine names Tennessee a top biotech location (Nashville Business Journal)
Business Facilities magazine has ranked Tennessee among the nation's top states as an attractive location for biotech companies.


Local SPI unit hires new VP of operations (Nashville Business Journal)
Medical transcription services firm SPI Healthcare Documentation LLC has hired former Ardent Health Services project manager Jeffrey Marwill as its vice president of operations.


Community Health signs letter of intent on Pa. hospital (Nashville Business Journal)
Chestnut Hill HealthCare announced Tuesday that the University of Pennsylvania Health System and Brentwood-based Community Health Systems Inc. have signed a letter of intent to acquire and operate the facilities owned by the Chestnut Hill system.


American Healthways' Stone sells $1.3M in stock (Nashville Business Journal)
American Healthways Inc. Executive Vice President and co-founder Bob Stone completed a sale of stock in the company last week that netted him about $1.3 million.


BioMimetic raises $25.7 million in new financing (Nashville Post, subscription required)
Franklin's BioMimetic Pharmaceuticals said Thursday that it has secured $25.7 million in a Series C round of financing. The funds were provided by lead investorInterWest Partners and by CMEA Ventures and MC Life Science Ventures and current investors Burrill & Co., Novo A/S, Holden Capital and MB Venture Partners.


IMRAC sold to Atlanta firm (Nashville Post, subscription required)
Business Computer Applications (BCA) has completed its acquisition of IMRAC, a Nashville-based application services provider that offers billing, collections, and claims management services to provider, payors and large self-insured groups.


Audit Committee Continues Albuquerque Review for Ardent Health Services (BUSINESS WIRE)
Ardent Health Services today announced that the public release of its third quarter financial results and the filing of its Form 10-Q for the third quarter of 2004 will be delayed to provide additional time for its Audit Committee to complete the previously announced independent review of accounting practices at Lovelace Sandia Health System, Inc., Albuquerque, N.M. The company anticipates that the review will be completed and any delayed regulatory filings will be made by the middle of January 2005.

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PR Newswire


American Healthways Expands Relationship with Wellmark Blue Cross and Blue Shield (BUSINESS WIRE)
American Healthways Inc., (Nasdaq:AMHC) today announced a new five-year agreement with Des Moines, Iowa-based Wellmark Inc. to provide its disease management and care enhancement services to approximately 600,000 fully insured individual and group members of Wellmark Blue Cross and Blue Shield and Wellmark Health Plan of Iowa, Inc.'s health plans beginning Jan. 1, 2005.


American Retirement Reports Third Quarter Results (BUSINESS WIRE)
American Retirement Corporation (NYSE:ACR), a leading national provider of senior living housing and care, today reported its financial results for the quarter ended September 30, 2004.


OUR INDUSTRY

U.S. Health-Care Stocks Decline, Led by Merck; PeopleSoft Gains (Bloomberg)
U.S. health-care stocks declined, led by Merck & Co., after a Wall Street Journal report that the No. 2 U.S. drugmaker tried to stop safety concerns from wrecking the commercial prospects of its Vioxx painkiller. Benchmark indexes were little changed the day before the presidential election.

National polls show a statistical tie between President George W. Bush and Senator John Kerry.

"The election is an important issue and has been keeping the market from making any specific moves,'' said James Fisher, who manages $900 million at Univest Corp. of Pennsylvania. "You have people waiting because this thing could drag out. It's the uncertainty and not knowing what the next six months holds.''

The Standard & Poor's 500 Index slipped 0.19 to 1130.01 as of 9:56 a.m. in New York with gains in PeopleSoft Inc. limiting the drop. The Nasdaq Composite Index fell 2.08, or 0.1 percent, to 1972.91. The Dow Jones Industrial Average added 7.53, or 0.1 percent, to 10,035. .


Emergency Nurses Association Creates First Ever Academy to Honor Top Emergency Nurses, The Academy of Emergency Nursing Inducts its First Class in 2005 (U.S. Newswire)
The Emergency Nurses Association (ENA) today announced the creation of the first-ever Academy of Emergency Nursing to honor emergency nurses who have made enduring and substantial contributions to the profession.

The ENA Board of Directors voted to establish the academy at the ENA's 2004 Annual Meeting in September. The Academy's first inductees will be named at the 2005 ENA Annual Meeting in Nashville.



posted by nhcc at 10:09 AM