Researchers found that the U.S. hospitals get more profit when the surgery goes wrong as compared to the condition when all the tasks go well and patients go home without any complications.
The Journal of the American Medical Association (JAMA)
Quite disturbing report but one of the points to consider in healthcare system is that the finances spent on that industry have to be properly planned.
Do you know nearly $400 billion is spent on the surgical procedures annually, in U.S. only?
For the past few years, effective methods and ways to cut the complications have been introduced in so many researches but hospitals were found slow in getting and implementing those ways. Now researchers have found that finances could be one of the reasons.
“We found clear evidence that reducing harm and improving quality is perversely penalized in our current health care system,” Sunil Eappen, study author and chief medical officer of Massachusetts Eye and Ear Infirmary, said in a statement.
Researchers found that privately insured surgical patients with complications provided hospitals nearly 330% more profit as compared to the patients with no complications. Medicare patients with some complications provided more than 190% margin.
“It’s been known that hospitals are not rewarded for quality. But it hadn’t been recognized exactly how much more money they make when harm is done,” said senior author Atul Gawande, director of Ariadne Labs, professor in the Department of Health Policy and Management at HSPH and a surgeon at BWH.
It means reducing complications decreases financial achievements of the hospitals.
“This is clear indication that health care payment reform is necessary,” said Gawande. “Hospitals should gain, not lose, financially from reducing harm.”
I think we have to study the same thing in other developed countries.
Eappen, S. (2013). Relationship Between Occurrence of Surgical Complications and Hospital Finances JAMA, 309 (15) DOI: 10.1001/jama.2013.2773
Researchers from US Defense Department found that the pilots of Drone, even controlling the machine from a large distance, are equally susceptible to mental health problems and disorders such as anxiety, depression, and stress just as the traditional manned pilots.
The study has been conducted by the Armed Forces Health Surveillance Center and The New York Times reported that the authors have several possible explanations. “Remotely piloted aircraft pilots may stare at the same piece of ground for days,” co-author Jean Lin Otto told the Times. “They witness the carnage. Manned aircraft pilots don’t do that. They get out of there as soon as possible.” Read More …
“The Postal Service is advancing an important new approach to delivery that reflects the strong growth of our package business and responds to the financial realities resulting from America’s changing mailing habits,” Patrick R. Donahoe, Postmaster General and CEO, said in a statement. “We developed this approach by working with our customers to understand their delivery needs and by identifying creative ways to generate significant cost savings.”
The Postal Service saw nearly $16 billion of loss last fiscal year that has been attributed to the huge amounts of payments for future retiree health benefits and the increased number of Americans’ online communications. Read More …
China is expected to overtake U.S. and would become the Apple’s largest market soon as said by Tim Cook, Chief Executive, to a Chinese government news agency on a visit to Beijing.
“China is currently our second largest market. I believe it will become our first. I believe strongly that it will,” the Xinhua news agency reported Tim Cook as saying in an interview. However, the time when it would happen is not clear. Read More …
China’s internet giants, including Alibaba Group, Baidu, Tencent and Weibo, are really huge companies but they are not good innovators as compared to their American counterparts as reported by Derrick Harris of Gigaom.
In December of last year, we wrote about the report published by IEEE spectrum. That report showed that not so many Chinese organizations or companies have 2011 U.S. patents, showing less innovation. This recent article also presents that the China’s big internet companies are “not yet technological innovators.”
Alibaba Group contains Taobao, the eBay-like e-commerce line of business, and Alipay, the company’s version of PayPal, and this group has a huge business. You can estimate the sales and revenue of the company from the sales of Nov. 11, 2011 that is about 19 billion Yuan (or approximately $3.05 billion). Alibaba Group CTO and Alibaba Cloud Computing President Wang Jian reported 1 trillion Yuan (about $160 billion) estimate for 2012 revenue at the end of November. On the other hand, Alipay has nearly 3 billion Yuan (about $480 million) in transactions per day. By comparison, eBay reported $3.4 billion in revenue for the entire Q3 while Amazon.com reported $13.8 billion in revenue for Q3.
Baidu is a Chinese search giant and is on fifth number in the world’s top sites ranking by Alexa that is the clear vision of the popularity of the company. Baidu is planning to develop the world’s largest data center in a 120,000 square meters, costing $1.6 billion, having 100,000 servers (totaling 700,000 CPUs and 3 million cores) and storing 4,000 petabytes of data. Read More …
100 years have passed to the creation of Fed and the following chart (via Young Americans for Liberty’s Bonnie Kristian) shows the inflation of the dollar from 1913 to present i.e. purchasing power during the 100 years.
This chart shows that the Americans continuously saw the inflation in the 20th century, when the country faced increased levels of prosperity and the people got richer. The only time when the currency reflated seriously, was during the 1930s i.e. the time of Great Depression.
Researchers have found that the prices of drug paid in U.S. are higher as compared to the prices paid in U.K.
These researches by Boston University’s Boston Collaborative Drug Surveillance Program has been published in a series of papers this year in Pharmacotherapy: The Journal of Human Pharmacology and Drug Therapy.
Researchers have published that the cost paid for statins (drugs to lower cholesterol level) and methylphenidate (a psychostimulant drug for the treatment of attention-deficit hyperactivity disorder) in U.S. is 4 times higher than the costs paid by the government in U.K. In another research, the researchers found that the costs paid for proton pump inhibitors (PPIs are the drugs to reduce the gastric acid production) by the insurance companies in U.S. was 3 times more than the costs paid by U.K. government. These results are for the prescriptions in the year 2005. Read More …
Car donation is the donation of cars, usually old cars, to the charities and not-for-profit organizations for better prospects. In U.S., this type of donation is very famous and it can provide tax benefits i.e. tax deduction. Many of the organizations are increasingly relying on the revenue from car donations. Read More …