MASSDEVICE ON CALL — Implantable devices command huge revenues and often are the top-performing segments of some of the industry’s titans, but selling, general & administrative expenses often eat away at the bottom line.
Former NuVasive Inc. (NSDQ:NUVA) manager Gavin Fabian hopes to fix that and bring medtech’s SG&A bill closer in line with that of other high-tech firms. Fabian founded a middleman company, called MedPassage, which uses e-commerce principles to bridge the gap between manufacturers and healthcare providers.
In an interview with MedInsider.com, Fabian explained how his company can help the industry boost sales while simultaneously cutting costs.
South Carolina VA hospital hopes to dismiss data breach lawsuit
The William Jennings Bryan VA Medical Center in Columbia, S.C., is hoping to convince a judge to dismiss a case filed by several thousand veterans suing under the Privacy Act. In April a hospital laptop with 7,405 patient records went missing, but the VA clinic maintained that the plaintiffs in the case couldn’t prove that the missing data had actually been accessed or used by an unauthorized party.
Luminex ships 10,000th instrument
Luminex Corp. (NSDQ:LMNX) passed a company milestone this month, shipping its 10,000th multiplexing instrument. The landmark shipment was of a protein analysis device called the MagPix, sent to Dr. Kimberle Chapin at the Rhode Island Hospital, Luminex said.
The Austin, Texas-based company makes and sells assays and instruments for biomedical research, diagnostics, drug discover, food safety analysis, and other functions.
Universal screenings won’t improve heart disease mortality rates, researchers say
A large Norwegian study concluded that heart disease screenings for all patients, including asymptomatic ones, will not lead to better health outcomes. The Tromsø study evaluated randomized screening using an echocardiograph to detect stoke and heart attack risks. This imaging technique is being used more often every year, but the study supports current clinical guidelines saying there is no evidence that routine echocardiography will help determine heart disease risk.
Obama administration audits hospitals for Medicare and insurance fraud
The Obama administration is taking a closer look at up-coding, a fraudulent practice to bill Medicare and other 3rd part insurers at higher rates by intentionally charging for pricier hospital procedure codes than what was actually performed. The HHS Office of the Inspector General is now auditing for up-coding related to electronic health records.