Jan. 20, 2011

Today’s issue is brought to you by AIS's Health Plan Week, the industry's leading source of objective business, financial and regulatory news of the health insurance industry.

 
Today's Featured Story

Proposed HHS Reg Would Make It Even Tougher for Plans to Justify, Boost Rates 
Reprinted from Health Plan Week

Winning rate hike approvals for small-group and individual insurance products could be even more difficult for health insurers in 2011 due to a proposed regulation issued by HHS late last month. And even if insurers have the detailed documentation needed to satisfy state and/or federal regulators, industry observers say it will most likely take longer for increases to be approved and put into place. Such delays could translate to financial losses for health plans. Moreover, the inability to boost rates substantially could cause some insurers to pull out of unprofitable markets .... Read Full Story

 

Quote of the Day

“Data breaches can be devastating to an organization in terms of money spent to address the breach, especially for smaller and mid-sized organizations. There is a multiplier effect that can have a serious impact. If 10,000 or 100,000 or 1 million — or more — records are lost…there may be a ‘per record’ cost [that can range from $200,000 to $2 million].”

— David Navetta, a principal with the Information Law Group in Denver, told AIS’s
Report on Patient Privacy.

Click here to read the REPORT ON PATIENT PRIVACY article in which this quote appeared. (Free for RPP subscribers; $17 for non-subscribers).

 

Today's Datapoint

5.8% … was the increase in the volume of prescriptions during the 3rd quarter of 2010, compared to the same quarter in 2009, according to Fitch Ratings, Inc.

From DRUG BENEFIT NEWS.

 

People on the Move

CVS Caremark said that Mike Bloom and Scott Baker will jointly manage the company's retail business. Bloom is executive vice president of merchandising and Baker is executive vice president of internal operations and real estate....Foundation Medicine, Inc., a cancer diagnostics company, named Gary Palmer, M.D., senior vice president of medical affairs and commercial development. Palmer was chief medical officer and head of development for DNA repair marker development and circulating tumor cell technology at On-Q-ity.

 

Today's Featured Health Business Job Opening

Mayo Clinic
Division Chair – Government Relations
Rochester, Minn.



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