Medical Society of NJ launches platform for shared patient medical history

The Medical Society of New Jersey has launched a new health information exchange that will make it easier for doctors to access the medical histories of their patients.The Medical Society of New Jersey has launched a new health information exchange that will make it easier for doctors to access the medical histories of their patients.

The platform, OneHealth New Jersey, was adopted by the model Kansans City Health Information Network, which was also adopted last year by Georgia, South Carolina, Connecticut, Missouri and Louisiana.

OneHealth New Jersey will offer a secure platform for patients to record their own health information. Patients will not need to log into multiple portals, hand-carry their records or rely on another office sending information via fax.

With the new platform, doctors in the state will be able to access the medical history and information about patient from any location. It will allow communication and care coordination to be streamlined between physician offices, hospitals, labs, pharmacies and referring physicians across. The ultimate aim of the new platform will be to reduce the time it takes for doctors to locate information, and reduces the need for duplicate tests and procedures.

“OneHealth New Jersey provides a common-sense solution for our state. With growing demands of patient data from Medicare, Medicaid and private payers, OneHealth New Jersey is ready to go at no additional cost to the state,” said MSNJ Board President, Dr. Christopher Gribbin. “It’s technology developed by physicians for physicians and other clinicians — people who understand patient care and the demands of a business practice.”

Marcus Millichap Multifamily boom to continue through Q4, 2018

In its recently released Q4 2017 Local Apartment Report for northern New Jersey, brokerage firm Marcus & Millichap said it expects the boom in multifamily to continue through Q4 and into 2018.

A 30 percent increase in rents for this decade and a vacancy below 5 percent are slated to continue driving demand for the asset across the region and particularly in Hudson and Essex counties.

“Development costs can be up to three times higher in Manhattan and Brooklyn, leading developers to increase activity across the Hudson as rental demand holds strong in the region,” according to the report. “Hudson County remains the focal point of construction for its transit connectivity into Manhattan and a more walkable environment than other parts of the region. More than 14,000 units are underway across the county, including the largest project in the region, the Riverbend District, (Harrison) a multiphase mixed-use development that will total roughly 3,000 units upon completion.”

Cap rates in Bergen, Hudson and Union counties appear to be the lowest in the region – between 5 and 6 percent. Higher first-year yields can be seen in Essex, Morris and Passaic counties and can reach 7 to 8 percent at times, the firm reported.

Midcentury mid-rises in Paterson, Hackensack and Passaic are proving to be profitable value-add opportunities, the firm said.

“The average effective rent climbed to $1,815 per month in the third quarter, outpacing a 3 percent increase that was posted one year earlier,” said Marcus & Millichap. “In Jersey City, Class C complexes posted a 6.9 percent increase to the average effective rent, climbing to $2,333 per month. Class A apartments here registered a slight decline of 0.5 percent to $3,061 monthly.”

The 0.4 percent increase in employment year-over-year has added to the demand for multifamily product in the region, too.

According to the firm, the leisure and hospitality sectors added 11,200 out of 12,500 jobs in the last three quarters. And the education and health services sectors expanded their workforce by 4,500 workers.

“Deal flow surged 39 percent during the past 12 months in comparison with the previous period,” said the firm. “In Hudson County, transaction velocity jumped 82 percent on strong buyer demand. On a per unit basis, the average price climbed 1 percent to roughly $155,700. In Bergen and Hudson counties, properties averaged $209,000 per unit, an 11 percent jump in Bergen County and a 2 percent drop in Hudson County.”

And in looking into the future, William Hughes, senior vice president, said he sees Washington playing a more significant role in the capital markets.

“Despite the Fed raising its benchmark short-term rate three times in seven months and signaling another rise before the end of the year, long-term rates have remained stable,” he said. “The yield on the 10-year U.S. Treasury bond remained in the low- to mid-2 percent range throughout the third quarter of 2017. The Federal Reserve wants to normalize monetary policy and, in addition to raising its funds (or overnight lending) rate, has announced it will begin to taper its balance sheet by allowing an initial $10 billion in securities to mature without reinvestment. By reducing its acquisitions of securities, 10-year Treasury rates should drift upward, thereby widening the spread between short- and long-term rates.

“While commercial real estate fundamentals remain strong, rising costs associated with debt financing will tighten the spread between cap rates and lending benchmarks. This environment could weigh on transaction activity as investors evaluate their yield options. Cap rates have remained relatively stable over the last year, but upward movement in Treasury rates has amplified the expectation gap between buyers and sellers.

“Government agencies continue to consume the lion’s share, just slightly over 50 percent, of the apartment lending market. National and regional banks control approximately a quarter of the market. Growing uncertainty about federal policy and global geopolitical concerns are keeping long-term interest rates down with pricing residing in the 4 percent realm with maximum leverage of 80 percent. Portfolio lenders will typically require loan-to-value ratios closer to 75 percent with interest rates in the high-3 to mid-4 percent range. As uncertainty remains regarding the possibility of tax policy revision, rental demand remains strong with the national apartment vacancy at 4.5 percent.”

Construction metric indicates strong economy

The Associated Builders and Contractors’ (ABC) reported that the Construction Backlog Indicator (CBI) set a record as it expanded to 9.45 months during the third quarter of 2017, up 9.8 percent from the second quarter to the longest backlog reading in the eight-year history of the series. CBI is up by 0.8 months, or 9.2 percent, on a…

CBI is a leading economic indicator that reflects the amount of construction work under contract, but not yet completed. CBI is measured in months, with a lengthening backlog implying expanding demand for construction services.

“The latest backlog reading strongly suggests the post-2009 economic recovery is picking up steam and that the current construction spending cycle, in place since early 2011 for many contractors, is not on the verge of concluding,” said Chief Economist Anirban Basu. “Indeed, if anything, the CBI indicates that nonresidential construction firms are becoming busier due to a confluence of factors, including growing business confidence over the past year and a recent rise in energy prices, which is supporting more investment among energy explorers, producers and distributors.

“With economic growth picking up recently, interest rates staying low, asset prices remaining high and confidence elevated among consumers and businesses alike, the nonresidential construction cycle stands to get even hotter in the near term. That should represent a source of joy to contractors, but undoubtedly many are unnerved by growing pressures to secure suitably trained craftspeople who can support on-time, on-budget project delivery. The upshot is that wage pressures will continue to build in the U.S. construction industry. However, based on the most recent CBI, increasing delivery costs have not yet begun to meaningfully slow the nonresidential construction sector’s ongoing expansion cycle.”

‘Experience’ necessary ‘Tis season to reward one’s self, and shout about it to the world

If one person’s trash is another person’s treasure, it stands to reason that the concept of luxury is also in the eye of the beholder. In fact, perhaps more than anything else, these days, consumers lead with their hearts and egos when it comes to spending.The emotional desire to both enjoy experiences and share them is what drives people to spend, especially during the holiday season. In fact, consumers have a real need to enjoy the “experience” of owning something, even more than the goods and services themselves.

“Online we see it every day. Everyone else has new cars and new clothes and they take fancy vacations. You think, ‘I want all of that,’” suggests Ted Jenkin, an East Windsor native who is CEO of oXYGen Financial, an Atlanta-based financial services company, and an oft-featured expert on CNN Headline News. “So, whether you can afford it or not, your behavior is driven by the need to keep up. And, once you have something, you can’t wait to share the experience of owning it.”

Ed King, co-founder of The HighStreet Collective, a retail innovation marketing agency, is hyper-focused on the psychology of today’s shoppers. In fact, he coined a term for them: ACES.

“ACES (Addictively Connected, Experience-seeking Shoppers) transcend traditional generational boundaries,” King says. “ACES crave an intuitive, engaging, human shopping experience. Like the generations before them, they look at shopping as visceral, emotional and fun. Deep down, there is something driving them to ‘experience shop.’”

Jenkin says today’s consumers, specifically Gen Xers and millennials (also known as Generation Y), believe “value comes from experiences.”

“Anything that provides an experience — concerts, sporting events, technology, vacations — are the things consumers are most willing to spend money on,” Jenkin says. “And, if you can share that experience on social media, it’s a home run.”

King says experiential shopping goes beyond Gen X or Gen Y. After conducting considerable research, King says today’s luxury buyers, or ACES, can be categorized by something far beyond age, wealth or power.

While some might say that the “human” side of shopping sped down the information superhighway long ago in favor of quick-fix cybershopping, King begs to differ. Even the act of shopping has become a sought-after experience, whether in-store or online.

“In stores, ACES are focused on the experience of shopping. They want to have a unique experience based on a sales associate who walks them through the store and provides personalized service,” King says.

However, online, people are looking for a similar experience. Anytime a company is able to make the online shopper feel special, the same emotions apply.

“If there is something you can do to give the consumer a nod that makes them feel they have something that the other guy doesn’t, they will be more compelled to buy. ACES are looking for personalized, customized shopping experiences,” King suggests.

A recent Investopedia article, “The Psychology Behind Why People Buy Luxury Goods,” points to the “strong emotions that we attach to expensive material goods.” Moreover, it’s not about whether people can afford the purchases; people’s decision making around buying luxury items is directly proportionate to their ability to “show off to or gain acceptance from others” as well as “reward ourselves for an accomplishment.”

Jenkin couldn’t agree more. In fact, consider all that psychology and add in another aspect for good measure, he says.

“All of this spending behavior is driven by social media. People are unconsciously seeing everyone else on social media living the Life of Riley,” he explains. “You feel the need to reward yourself more and more because you think everyone else is getting constantly rewarded. And once you reward yourself, you need to share it with the world.”

According to King, ACES indeed are focused on “Instagrammable moments.” They want to be able to share their stories — not only that they’ve acquired something but they are driven to talk about how they’ve acquired them.

“People want to be part of a story. They want to know where things come from; they want to know pedigree. They want one-of-a-kind things that provide unique experiences,” he explains. “If a product makes a consumer feel special, especially if it’s one of one available or they are the first to have it and be able to share it on social media, they want it.”

And, the experts conclude, cost is not a primary concern.

The truth is, says Jenkin, prior generations of spenders – baby boomers and their predecessors — had a “save today to buy tomorrow” philosophy. Not anymore.

“Today, people are seeing their parents struggling with retirement,” explains Jenkin. “They are seeing themselves as either having to work forever or as fearful of what their financial situation will be tomorrow. Therefore, they figure they might as well spend today.”

Jefferson Cherry Hill Hospital wins Interior Design magazine competition

The design of the new Jefferson Cherry Hill Hospital Medical Office Building in Cherry Hill won an award in Interior Design magazine’s Best of Year (BoY) Awards), beating out four other finalists in the health care category.The design of the new Jefferson Cherry Hill Hospital Medical Office Building in Cherry Hill won an award in Interior Design magazine’s Best of Year (BoY) Awards), beating out four other finalists in the health care category.

Over 1,000 design professionals and enthusiasts attended the 12^th Annual BoY Awards ceremony in New York City early this month. In total, over 2,300 entries were received. The Jefferson Cherry Hill Hospital’s Medical Office Building was designed by Philadelphia-based architecture firm EwingCole and provides a home base to a variety of health care services, such as physician practices, an outpatient Surgery Center, physical, occupational and speech rehabilitation services, a sleep and balance center, and a hyperbaric wound care center.

The atrium lobby serves both the main hospital and the Medical Office Building and spans 22,000 square feet.

The design of the 102,000-square-foot facility also received an Award of Merit by the Delaware Valley Association of Structural Engineers earlier this year.

Multi-million redevelopment plan for Campbell’s Field approved by Rutgers

Rutgers University approved a resolution to invest $7.5 million toward the $15 million redevelopment of Campbell’s Field in Camden that would convert the field into a multi-purpose athletic facility open to Rutgers’ students and the public.<br class="hardreturn"…Rutgers University approved a resolution to invest $7.5 million toward the $15 million redevelopment of Campbell’s Field in Camden that would convert the field into a multi-purpose athletic facility open to Rutgers’ students and the public.

The development plan that was approved by Rutgers Board of Governors on Dec. 7 would be partially paid for by Rutgers University, with another $7.5 million invested by the city of Camden.

The current plan would see Campbell’s Field demolished and replaced with athletic facilities that could house fields for baseball, lacrosse and field hockey. The new complex would be owned by the City of Camden, but operated by Rutgers. Currently, Campbell’s Field is owned and operated by the Camden County Improvement Authority.

The city of Camden intends to secure funding for the project through the state’s Green Acres, Farmland, Blue Acres and Historic Preservation Bond Act, a bond that provides funding for enhancing recreational resources and open spaces in New Jersey. Camden has used Green Acres for funding of similar projects in the past, a city official said.

“Although it will be disappointing to see Campbell’s Field gone, change is sweeping through the city,” said Dana Redd, Mayor of Camden, in a prepared statement. “This is an opportunity for Camden to reimagine the site in a positive way that will benefit the community.”

Rutgers’ resolution comes just a month after democratic power broker George Norcross said in a business breakfast event that Campbell’s field would be demolished in the “not-too-distant future.”

Rutgers’ approval is the first step of a long process that could significantly alter the current plan. A city official said the hope is to begin construction as soon as possible, but the timeline to construction is subject to required approvals through the city. Rutgers’ men’s baseball team plans to utilize Campbell’s field through Spring 2018.

NJHA report NJ health care industry pumped 23.4 billion into state’s economy in 2016

New Jersey’s hospitals and health systems pumped $23.4 billion in to the state’s economy in 2016 according to the New Jersey Hospital Association’s 2017 Hospitals Economic Impact Report, up from $22.7 billion in 2015, making it one of the top five largest industries in the state.New Jersey’s hospitals and health systems pumped $23.4 billion in to the state’s economy in 2016 according to the New Jersey Hospital Association’s 2017 Hospitals Economic Impact Report, up from $22.7 billion in 2015, making it one of the top five largest industries in the state.

According to NJHA’s report, hospitals and health systems employed nearly 144,000, including more than 120,000 full-time jobs. The total payroll for all of the employees was roughly $9 billion in 2016, and generated $496 million in estimated state income tax, an increase from $8.7 billion and $483 million in 2015, respectively.

By comparison, the logistics industry, including warehousing and distribution, contributed $58.4 billion into the state’s economy in 2016, according to Choose NJ. Life science companies contributed $47.5 billion, and financial services $31 billion.

The report was based on data from 71 acute care hospitals in the state and compiles their economic contributions statewide and across counties and individual hospitals. New Jersey hospitals and health systems purchased $3.3 billion in goods and services from other companies last year, an increase of $200 million over 2015. Some of its key findings are:

New Jersey hospitals and health systems purchased $3.3 billion in goods and services from other companies last year, an increase of $200 million over 2015. Key areas include contracted labor ($1.6 billion), pharmaceuticals ($1.4 billion), dietary, laundry and housekeeping ($129 million) and building supplies ($20 million).
New Jersey hospitals and health systems paid nearly $159 million in taxes, including a 0.53 percent assessment ($131.5 million), adjusted admissions assessment ($17.4 million) and newborn screening fees ($9.6 million).
New Jersey hospitals and health systems contributed to the state’s safety net by providing care during 1.4 million hospital visits by uninsured persons.

“New Jersey’s hospitals and health systems are some of the largest employers in the state, not only providing quality care to their communities and supporting community health and wellness, but contributing to the financial strength and producing jobs people are proud to do,” said Cathy Bennett, president and CEO of NJHA. “We are gratified our work is a bedrock of the state and local economy.”

Duane Morris partner named senior advisor to Murphy’s transition team

Paul Josephson, partner at Duane Morris LLP, has been named senior advisor and transition counsel to Gov.-elect Phil Murphy’s transition committee, Transition2018.Paul Josephson, partner at Duane Morris LLP, has been named senior advisor and transition counsel to Gov.-elect Phil Murphy’s transition committee, Transition2018.

Josephson most recently served Murphy as counsel to his campaign, Duane Morris said.

“Having represented the governor-elect since he announced his candidacy, it is an honor to now assist him in the transition effort,” said Josephson.

Josephson will assist the transition team in a review of more than 50 independent New Jersey authorities, including:

Gaming and related authorities: the Casino Control Commission, the Casino Reinvestment Development Authority (Atlantic City redevelopment and land use), and the New Jersey Sports and Exposition Authority (Meadowlands Complex and Monmouth Park).
Four bi-state transportation authorities: the Port Authority of New York and New Jersey, the Delaware River Port Authority, Delaware River and Bay Authority, and the Delaware River Joint Toll Bridge Commission.
Transportation authorities: New Jersey Transit, the New Jersey Turnpike Authority, the South Jersey Transportation Authority, and the Motor Vehicle Commission.
Economic development and financing authorities: the New Jersey Economic Development Authority, as well as authorities that finance health care, higher education and K-12 school facilities.

“The independent authorities play a key role in New Jersey infrastructure, economic development, and gaming policy. They are responsible for some of the most visible government projects and services that residents and businesses count on. I look forward to helping the governor-elect assume responsibility for them.”

Josephson previously served as chief counsel to the New Jersey Governor and as director of the division of law for the New Jersey Office of the Attorney General. He also served as chief of authorities for the governor.

He presently serves as New Jersey co-chair of the Regional Plan Association.

Lowering state health care costs Trade organization sends recommendations to Murphy

Better Choices, Better Care NJ, a health care industry trade group whose leadership includes New Jersey Chamber of Commerce President Tom Bracken and John Harmon, CEO of the African American Chamber of Commerce of New Jersey, has issued a report that includes 15 recommendations to lower the cost of health care in the state.Better Choices, Better Care NJ, a health care industry trade group whose leadership includes New Jersey Chamber of Commerce President Tom Bracken and John Harmon, CEO of the African American Chamber of Commerce of New Jersey, has issued a report that includes 15 recommendations to lower the cost of health care in the state.

The effort is being spurred by both uncertainty in Washington and the fact New Jersey has among the highest health care costs in the country.

Recommendations range from prohibiting small employers from creating self-funded health care plans to requiring out-of-network specialists to participate in the same network of the hospitals in which they are practicing.

The report is being sent to Gov.-elect Phil Murphy and members of the state Legislature, and has five distinct goals in mind: increasing access to affordable, quality health care; keeping health insurance costs affordable; reforming Medicaid; and promoting value-based health care delivery.

A full copy of the report can be found here.

“This organization launched with the goal of engaging and educating the public, employers and elected representatives on how to change health care for the better,” said a Better Choices Better Care spokesperson. “The past year, however, has shown us that we can no longer remain on the sidelines. Health care has been a topic of intense national debate, but that debate has not yielded any significant positive policy changes or done much to lower the cost of care. With this plan, we are presenting 15 measures that we believe will actually lower costs, while providing better quality health care.”

The 15 recommendations are:

That New Jersey adopt a standard that imposes requirements that providers offering services at hospitals participate in the same networks as such hospitals, and that providers and facilities publicly disclose the networks in which they participate.
That the state create its own individual mandate for health insurance should the federal government abolish the individual mandate under the Affordable Care Act or work on ways to incentivize the business community to fill that void.
Amend state law so that health care related state boards are not self-governed. Instead, require that at least half of any of these individual board’s memberships be comprised of individuals whose professions are not directly regulated by that board, and who would be representative of consumers that utilize the services overseen by the board. In addition, the state should examine and issue a report on best practices utilized by other states for health care related state boards.
Amend state law (through the Division of Consumer Affairs) to expand the kinds of services nurses, physician assistants or therapists can perform without supervision and in general.
Revise state law to prohibit and eliminate self-funded arrangements in the small employer market. This, in turn, will reduce costs for small business owners and their employees. Reforms, however, should ensure that small employers’ ability to join a Multiple Employer Welfare Arrangement (MEWA) or other alternative health insurance coverage model would not be impeded.
Provide Medicaid organizations and commercial insurers access to the state’s Prescription Monitoring Program, thereby limiting the number of opioids and other such drugs that could be abused or sold illegally.
Revise state law to allow for the electronic delivery of insurance materials and provide for such delivery as the default method, while allowing consumers to opt in to the delivery of paper materials if they wish.
Transition behavioral health and substance use disorder services to the Medicaid Managed Care Program in order to provide greater opportunity to implement coordination of health care services for consumers.
Work with the Center for Medicare and Medicaid Services (CMS) to request flexibility to implement a comprehensive blending of Medicare and Medicaid funding and aligned program administration.
Prepare a contingency plan of New Jersey-based solutions should Washington lawmakers and the president mandate reductions in Medicaid coverage and funding.
Examine ways to ensure there is transparency across all divisions of health care, with a specific focus on how consumer products are priced.
Require the state’s Department of Banking and Insurance (DOBI) to more strictly enforce measures already in place to ensure independent utilization review organizations (IUROs) are complying with the terms of their contract. Moreover, ensure that IURO’s are using applicable clinical protocols and/or practice guidelines developed or used by the Division of Medical Assistance and Health Services and carriers.
Pursue appropriate federal waivers and legislative and regulatory activities in order to accelerate the implementation of innovation service delivery and patient-centered care models.
Revise state rules to allow insurers to include expenditures made toward quality improvement programs, patient-centered care initiatives, and fraud, waste and abuse detection and deterrence efforts as medical costs in their calculations. New Jersey law should also allow for medical loss ratio (MLR) calculations over a three-year period, instead of the current one-year limit. Before doing so, however, an economic impact study should be completed to look at the overall impact to consumers, businesses and insurers of making such changes.
Undertake efforts to promote, market and facilitate enrollment in the individual market. This could include state-contracted health care facilitators to link consumers with health insurance plans, state-sponsored advertising and marketing, and the formation of a public/private partnership for the promotion of the individual market. The state should also consider creating its own exchange.

“We strongly believe these actions will make health care in New Jersey less costly, of higher quality and more accessible,” according to the report. “As we head into 2018 and beyond, Better Choices, Better Care NJ will be actively engaged in ensuring the ideas outlined in this document are discussed, acted upon and implemented.”

Companies honored at NJBIZ’s Business of the Year awards

Hundreds of attendees came out to NJBIZ’s Business of the Year awards on Monday evening to celebrate their company’s nomination and hopes in winning an award.The reception areas of The Palace were lively with conversation until the grilled chicken came out – then it came alive with the clinking and clanking of forks on china. Hundreds of attendees came out to NJBIZ’s Business of the Year awards on Monday evening to celebrate their company’s nomination and hopes in winning an award. The Business of the Year awards are broken into three separate categories: Business of the Year, Corporate Citizen of the Year and Emerging Business of the Year.

The Business of the Year awards were broken up into three sub-categories based on size: 1-50 employees, 51-100 employees and 101 employees. Beating out eight other nominees, Rock Brook Consulting Group took home the award in the 1-50 employees category.

“It’s kind of a shock. It’s really the team – the managers, they work so hard.” said Greg DeMarco, owner of Rock Brook Consulting Group. “The clients have supported us through the years and it’s really been awesome.”

In the 51-100 employees group, Primepoint HRMS & Payroll earned the top spot.

“The energy was fantastic,” owner David Bothwell said of the evening.

Founded in 2000, Primepoint serves approximately 2,000 customers.

“We’re constantly trying to make it easy for our clients,” said Mary Bothwell, Primepoint event coordinator, citing her husband David’s hard work and dedication to the company’s mission to engineer smart solutions for problems that arise with HR and payroll.

Summit Health Management (SHM) nabbed the top spot for the 101 employees group. Since opening in 2014, it has created a model based on its success growing Summit Medical Group into a multispecialty group with four care hubs, more than 70 satellite locations, and more than 800 providers in 70 specialties. SHM recently announced its intentions to take their physician group management model beyond the limits of New Jersey and into Oregon and Arizona.

Although all six nominees for Corporate Citizen of the Year were well-deserving of recognition, Crum & Forster won the award by matching 100 percent of all employee donations. Jersey Girl Brewing Company earned Emerging Business of the Year over five other nominees, as the number one beer sold at the Prudential Center at only a year and a half old.

Of future goals, Jersey Girl owner Charles Aaron said, are “we’re going to open up accounts in all 21 counties before next year is over. All 21 counties, all Jersey Girl beer.”

The final award of the night was given to Robert Unanue and Peter Unanue, president and executive vice president of Goya Foods. Accepting the Executive of the Year Award in front of the crowd, Peter said, “It’s amazing to sit here and learn about all of the innovation going on here in New Jersey.”

Peter spoke to the history of Goya, started by his family in Manhattan in the 1936 and then moved to New Jersey in 1974.

“New Jersey provides fertile ground for businesses to thrive,” he said. “I was born here, and I’ve lived in New Jersey for 50 years now. It’s a great state. It offers so many things for quality of life and opportunity. We’re happy to be here.”

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‘Experience’ necessary ‘Tis season to reward one’s self, and shout about it to the world