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Health Care

N.J. hospitals move to reduce Medicare readmissions, avoid costly penalties imposed by Affordable Care Act

And those penalties amount to much more than loose change. In the 2013 fiscal year, New Jersey’s hospitals paid a total of $19 million in readmission penalties to Medicare. However, it seems as though local hospitals are at least moving in the right direction on readmissions. Kerry McKean Kelly, a spokeswoman for the New Jersey ...

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Bayer gets FDA approval for Adempas

The FDA reviewed Adempas under its priority review program, which provides an expedited six-month review for drugs that promise major advances in treatment. Pulmonary hypertension is caused by abnormally high blood pressure in the arteries of the lungs, making the right side of the heart work harder than normal, according to the FDA. The condition ...

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Covance announces 250M debt financing

According to the announcement, the notes are expected to be issued in November 2013 in the following four series:– $15 million bearing interest at 3.25% and maturing on November 15, 2018;– $50 million bearing interest at 3.90% and maturing on November 15, 2020;– $90 million bearing interest at 4.50% and maturing on November 15, 2023; ...

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Robert Wood Johnson, Rutgers to create unique ACO

The ACO, called Robert Wood Johnson Partners, plans to launch in January of 2014. Dr. Alfred Tallia, chair of the department of family medicine and community health at Rutgers – Robert Wood Johnson Medical School, will be the executive director. Created by the Affordable Care Act, Medicare ACOs reward hospitals and doctors that deliver high-quality, ...

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Quest Diagnostics acquires ConVerge

According to the announcement, the transaction includes ConVerge’s laboratory in Peabody, Massachusetts, and its patient service centers operating in Massachusetts, New Hampshire and Connecticut. ConVerge will operate as a wholly-owned subsidiary of Quest Diagnostics and its laboratory will operate as part of Quest Diagnostics’ national laboratory network. Over time, the ConVerge laboratory is expected to ...

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WIRB-Copernicus Group names new chief research officer

According to the announcement, for more than 13 years, Dr. McNair has been actively involved with institutional review boards. Prior to joining WCG, she acted as a consultant to pharmaceutical and biotechnology companies, providing medical guidance on clinical development strategies and designs for new drug studies, as well as handling medical oversight of all phases ...

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Report Medical technology companies need to make radical changes to business models to stay alive

PwC’s 2013 Health Research Institute report released today concludes that growth merely through product innovation is not sufficient. Customers — be it hospitals, accountable care organizations, or individual consumers —now demand more in financial, convenience and health terms, said PwC, a multinational professional services firm also called PriceWaterhouseCoopers. The firm says radical innovations to current ...

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Venture capitalist tells NJ’s biotech companies crowdfunding could be good for business

Lorenzo Pellegrini, a partner in Care Capital LLC, a venture capital firm with $500 million under management, said crowdfunding has caused division within the venture community now that federal legislation aimed at easing the ability of private companies to raise capital online from small investors is taking effect. “Venture capitalists are split in the perception ...

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Horizon has top-ranked NJ Medicaid plan

According to the announcement, Horizon NJ Health received a national ranking of 35 out of 131 Medicaid-managed plans in the NCQA’s Medicaid Health Insurance Plan Rankings 2013-2014. Earlier this year, Horizon NJ Health earned a Commendable Accreditation rating, one of the highest possible ratings awarded by the NCQA for service and clinical quality, it said ...

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