By, Mitchell Young
NEW HAVEN: When a company reports organic revenue growth of 18.6% year over year, hats typically get tipped to the company, all over Wall Street.
New Haven’s Alexion Pharmaceuticals [ NASDAQ: ALXN] did just that and more, its fourth quarter income was up substantially, from $67 million to $93 million. That’s real money, in anyone’s book, but there remain Alexion doubters still.
Only a couple of months back the company parted ways with its CEO David Hallal and CFO Vikhas Sinha and installed an interim CEO, David Brennan a board member and former CEO of Astra Zeneca.
Inbox Health a Connecticut start up says they can help health care prodivers, from very small practices to large health care systems better control their patient billing, insurance management and the patient office experience. Inbox provide a HIPPA compliant software system and online portal that can be utilized even at very low costs. The company provide a three users model for as little as $79 per month and even has a pay as you go model for smaller practices.
Currently located in Bridgeport, the company is getting ready to move to New Haven in early Spring. Inbox has raised $2.5 million of capital including a recent seed round of $1.5 million. The new investment was led by Connecticut Innovations [CII] which had invested in a still earlier seed stage and a diverse group of seed investors.
|Hartford HealthCare CEO Elliot Joseph: "this will raise the cost of health care for all our state’s residents and businesses.”|
HARTFORD: Gov. Dannel P. Malloy is proposing that cities and towns be allowed to levy a property tax on nonprofit hospitals, and would offset their liabilities with new state and federal funding. But hospitals blasted the concept, calling it “a dangerous precedent.”
The governor’s plan also would cut an $11.8 million fund that has provided money to small, independent hospitals. And it would restore the administration’s ability to unilaterally cut more than $120 million in funding to hospitals if the state faces a budget shortfall.
The Yale New Haven Health System, which includes four nonprofit hospitals in Connecticut, cited “grave concerns” about the property tax proposal, while the Connecticut Hospital Association [CHA] called it “a direct attack on the fabric of our communities.” Hartford HealthCare, the parent company of five nonprofit hospitals, said the property-tax proposal could cost it $52 million per year.
“In addition to being patently unfair, this will raise the cost of health care for all our state’s residents and businesses,” CEO Elliot Joseph said in a statement.
By, Arielle Levin Becker
With the potential for major changes in federal health care policy looming, hospital leaders are watching closely, worried especially that cuts to Medicaid could bring a big financial hit and that a repeal of Obamacare could raise the number of uninsured Connecticut residents.
Borgstrom: “I worry that we’re going to go back to growing the number of people who just come in and don’t have any insurance.
Barnes: “Hospitals think that we’ve been underfunding them for the last few years anyways.”
“With all of the uncertainty that is coming out of Washington now, we’re obviously very concerned,” said Dr. Rocco Orlando, senior vice president and chief medical officer at Hartford HealthCare, the parent company of Hartford, Backus and Windham hospitals, The Hospital of Central Connecticut, and MidState Medical Center.
In contingency planning, Hartford HealthCare’s worst-case scenario involves Medicaid: the possibility that the federal government will shift from its open-ended funding approach to giving the state a lump-sum of money – and reduce funding by 25 percent.
Hospital leaders also worry about the effects of repealing Obamacare – a top agenda item for President-elect Donald J. Trump and Congressional Republicans.
HARTFORD: St. Francis Hospital and Medical Center’s medical marijuana research program has been approved by the state. The hospital say’s its research goal is “to compare the effectiveness of medical marijuana versus oxycodone in patients with post traumatic acute, subacute and chronic pain from multiple rib fractures.”
Consumer Protection Commissioner Jonathan A. Harris released a statement saying, “Our medical marijuana program has already given nearly 15,000 patients relief from severe debilitating conditions, and these research programs will provide medical professionals the information they need to help their patients make good health care decisions.”
Connecticut companies may want to move down South to save on electricity and wage costs, but according to the 2016 report by the United Health Foundation, communities with low incomes and poor public support have the most unhealthy citizens.
According to the survey, the unhealthiest states in the country all are in the southeast US.
For the 27th year in a row, UHF has ranked America’s states, incorporating data on factors including smoking, obesity, cardiovascular disease, air pollution, poverty and health outcomes.
State Measure Errors In Connecticut Hospitals
HARTFORD: Good news from the Connecticut Department of Public Health, errors or what they call “adverse events” in hospitals and ambulatory surgical centers were down in 2015.
There were however 465 such adverse events and according to the data mostly occur [85%] within four medical treatment areas. (1) stage 3-4 or unstageable pressure ulcers acquired after admission to a healthcare facility, (2) falls resulting in serious disability or death, (3) perforations during open, laparoscopic, and/or endoscopic procedures, and (4) retention of foreign objects in patients after surgery.
Fifty-two percent of reported adverse events occurred in males and 48% in females. The majority of reports [56.8%] concerned patients over the age of 65 years, but a full 40% were patients 15-64.