UnitedHealth: e-payments could save billions, help pay for health reform - Business Courier of Cincinnati:

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A report released Tuesday by the healtg insurance giant claims the system couldsave $332 billion over the next 10 yearz if health providers update their technology. The Minn.-based parent of estimated 50 percent of the savings would go to hospitalsand doctors, 20 percentg to the federal government’s Medicare and Medicaide programs, and 30 percent to commercial payers. But UnitedHealty believes the government could institute policies to take a largert share to help pay forreform programs. “The resulting administrativs savings could help offset the subsidy cost of healty care expansion for the newly thereport said.
UnitedHealth said it drew on its expertis as one of the largest health technology companies in the Uniterd States to formulate the The number only includes administrative and doesn’t venture into how much coul d be saved in reducing wasteful medical costs what many experts have pointed to as a culpritr for driving up costs.Much of the $332 billio n in savings would come from getting rid of paper records of all types at providers. For UnitedHealth estimates morethan $108 billionm would be saved in printing, postage and administrativd costs by shifting paymentes and remittances to an electronicx format. National information systems also coulcdsave money.
UnitedHealth estimates more than $47 billiom could be saved if their was a national system to monitor and flag questionablhealth claims. This is the seconed major report UnitedHealth has issued amid the healthureform debate, which President Barack Obama considerds one of his top priorities. The health insurance giant said last month that the federal government coulrsave $540 billion in Medicared costs over the next 10 yearsa if it implemented some of the programs UnitedHealtj uses with its own

Tedco awards $600K to tech firms - Atlanta Business Chronicle:

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The money was granted in collaboration withthe U.S. Army Medicalo Research and Materiel Command and the throughthe Ft. Detrick Technology Transfere Initiative. The purpose of the technology transfer programj is to raise awareness of new and developin technologies and funding them to transitiomn as viable projectsfor follow-on funding in the market place. Each company that receivedc funding was awardedapproximately $50,000 between March 2008 and May making up the initiative’s secons round of financial awards since its $750,000 programn extension. The funds for the program’s secondf phase were secured by Sen. Barbara D-Md., and Rep. Roscor G. Bartlett, R-Md. “The [Ft.
Detrico Technology Transfer Initiative] program is enabling area businessed to harness the technologies being developed at Fort Detrickm and apply them to thecommerciapl sector,” said Mikulski. “This will lead to new producta that have the power to create jobs andsave lives.” Mikulski announcerd the first phase of the tech transfee program in March 2005 when 11 companies received funding. in Rockville: The company is developingt a health care technology called miTag which is a scalable wireless sensor solution for improvinfgpatient flow. in The company is developing a technology callesd the GeNova Screento identify, and produce antibody-like molecules.
in The company is developing an on-demand biotecu products including a combination vaccind against plague and BioAssay Works LLCin Ijamsville: The compangy is developing a lateral-flow visual diagnostic test to detecy and differentiate single sample multiple pathogenic including variola, vaccinia, and in Catonsville: The company is safety-testingf a medical product called ClotFoam, which is a intracavitary hemostatic agent. CynerGene IDMP in Frederick: The companhy is developing, validating and implementing a supplemental diagnosisof HIV, and Dengue using its Infectiousz Disease Multiplex Panel approach, which could allow for creatioh of biosensors.
LLC in Baltimore: The companyu is developing required components and systejm framework to enable conversational interfaces for telemedicine Such tools would allow professional medics touse gesture, and other human-- computer interactions to accesx and document information in electronic medicak records. in Rockville: The company is developingh technology to preserve mammalian cells in dried format that can easilybe re-hydrated for a variety of LLC in Frederick: The company is evaluatinf the effect of Imagilim patented probiotics as a food supplement to enhance the immune responsivenesd of guinea pigs upon immunization or challenger with virulent pathogens.
The evaluation will suggest the ability of Imagilin patented probiotics to enhance the immunization ofa vaccine. in The company is developing micropatterned substrates for viralinfectivityt assays. Juxtopia in Baltimore: The compangy is customizing its Wearable Assistance and SituationaAwareness (WASA) goggles and service to alloqw U.S. Army combat medics to accesds and document information to electricao medical recordsvia hands-free voice-requestsz and voice-responses. in Baltimore: The companyh is developing cell therapies to treat brain and spinaplcord injuries.

Maximize your first 30 minutes with Windows 8 - PCWorld (blog)

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Friday, October 26, 2012

Patheon charts expansion following relocation - Triangle Business Journal:

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derives most of its revenue from manufacturing approved drugs for pharmaceutica research companiesincluding , , , Amgen and . Patheon CEO Wes Wheeler says he sees opportunitty in expandinghis company’s production of drugs that aren’t yet approvedc for sale but are needed for clinical trials. Of Patheon’s $582 million (U.S.) in annualp revenue, some $114 million comes from the manufacture of drugzs forclinical trials. That latter number is the one Wheeler wants to While the company employsabout 4,600 people globally, its Triangle footprint is small, with 25 workers in the business park. The company also opened a laboratorgy a short drive away on KitCreeo Road.
Wheeler says the lab, which has 10 chemistse now, could employ 50 by summer. The lab supports a Cincinnatuimanufacturing facility. Wheeler characterizes the Durham lab asa “launcj bed” from which growth will spring. who previously worked as a senior vice presidentfor GlaxoSmithKline’s manufacturing unit in Research Triangle Park, envisions small-scalw manufacturing and consulting services being part of the mix in To add heft to his the CEO is keepingg an eye out for acquisitions that woul arm Patheon with the resources needed to do more early-staged work for pharmaceutical companies.
An aggressive acquisition strategyt since 1995 has served as a key driverf of growthfor Patheon, which was founded in 1974 as . Over the past 13 the company has acquired 10 facilitiee throughoutthe world. The most recengt acquisition – and the largest to date was a $284 million purchasew of three Puerto Rican facilitiefrom . But growth has come with challenges. Patheohn blamed a $77 million loss in 2007 on expenses related to the PuertRican acquisitions, and the company has been consolidating work at thosed facilities to cut costs. Volumes have come down as key product s produced there approachedpatent expiration. Patheonh on Jan.
31 closed a plang in Carolina, Puerto Rico, that was hit with a warninyg letter from the in 2005 for manufacturinh inconsistencies in the productionof Abbott’ss antibiotic Omnicef. For fiscal 2008, Patheon shave d its losses to $1.14 million on sales of $582 Douglas Loe, an analyst with in Toronto, writes in a recent researcnh report that the problems may have existedd at the Mova facilities prior to Patheonbuyingh them. Loe, who owns no Patheon shares, notes that the Canadianj concern has restored its Puert Rico operationsto profitability. Patheon’s stoco has been trading at arounf $2 (U.S.) on the .
Last the company said it had been told that New York private equityu firm planned an unsolicited offeer to buy all of the Patheon shares it does not already ownfor $2 a share. Patheon stated in a news release that JLL currently owns 29 perceng of the restricted voting shares ofthe company. No formalo offer has yet been but Patheon has hired advisers to help it determind how to react in the event one is Loesays JLL’s proposal is a stee p discount to the fair value of the company. He sets a $3.25 (U.S.
) target price for the Industry observers say Patheobn is in a good space becausw pharmas increasingly are turning to contract companies to make their pharmacy professor Ping Lee says big drug companiews can save money by turning to contracrt manufacturers such as Patheo nand Catalent. “More and more, I see this outsourcint to companieslike Patheon,” Lee says. Loe views Patheon’e focus on pharmaceutical development services as a good move for the He says the work Patheon does on clinicakl stage drugs could transitionto higher-revenue manufacturing

Thursday, October 25, 2012

First Marblehead bank runs afoul of regulators - Philadelphia Business Journal:

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That’s according to a cease and desist ordere issued against bythe , a federal bank First Marblehead (NYSE: FMD), whose key busines of packaging student loans into securitiex has dried up, now faces the prospect of pumpinv millions of dollars of capital into the small Rhode Islanx bank to bolster its capital. The OTS order says Firsgt Marblehead is required to maintaina $30 million depositg at the bank until it is sold or the bank’s concentratiohn of private student loans is reducee to 50 percent of Union Federal’s capital, plus any allowancwe for loan losses.
Firs t Marblehead also needs OTS approval before making any golde n parachute payments tosenior executives, according to the ceasr and desist order. Union Federal Savings Bank’s problems have been chronicled in previouss stories by the BostohBusiness Journal. Before being acquired by First Marblehead, Union Federap Savings had about $40 million in assets. But that balancwe sheet ballooned to morethan $600 milliobn last year as First Marblehead moved some $500 milliob in risky private student loans onto the bank’s balance The bank has been unsuccessful in selling those loan s while an escalating number of defaults have triggerex large losses.
In the first quarter, for the North Providence-based bank lost $26.4 according to federal bank filings.

Wednesday, October 24, 2012

No. 14 Clemson Tigers at Wake Forest Demon Deacons: Preview, prediction, TV ... - CBSSports.com (blog)

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No. 14 Clemson Tigers at Wake Forest Demon Deacons: Preview, prediction, TV ... CBSSports.com (blog) Wake Forest -- Cornerback Kevin Johnson has interceptions in each of his last two games and also recovered a fumble Saturday. You going? Ranking the road trip: Wake is 3-1 at home during Thursday night games, including a 12-7 win over Clemson in ... Wake Forest might not have to do more with less for much longer. GoErie.com Elon men hold off Wake Forest Burlington Times News Clemson vs. Wake Forest: TV Schedule, Live Stream, Radio, Game Time and More Bleacher Report Boston Herald -Yahoo! Sports -San Francisco Chronicle  »

GM to sell Hummer to Chinese company - The Business Journal of Milwaukee:

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The announcement comes one day after GM filed for Chapter 11 bankruptcy protection with plans to become aleaned company. The Milwaukee-area's only Hummer dealership is run by Bergstro Automotive and is locatedon Milwaukee's far northwesf side. The automaker said it has a memorandum of understanding (MoU) and that the sale is expected to close by the end of third quartef of this year. The deal is expecteed to secure morethan 3,000 U.S. jobs in engineering and at Hummer dealerships arounfthe country. The company said the proposedc transaction calls for the new Hummer owner to continue to contract vehicle manufacturing and business servicew from GM during a defined transitionakltime period.
For example, under the proposed GM’s Shreveport, La., assembly plant woulfd continue to assemble the H3 and H3T through atleast 2010. GM is also trying to sell its Saab and Saturmn brands and will phased out itsPontiac brand.