Faux health care report

Posted on June 21, 2012 by Mike

Just a couple of quick links from the NEJM about electronic medical records and the difficulty doctors are having with implementation. Perhaps NoVA can help out and give a his perspective as well.

Even as consumer IT — word-processing programs, search engines, social networks, e-mail systems, mobile phones and apps, music players, gaming platforms — has become deeply integrated into the fabric of modern life, physicians find themselves locked into pre–Internet-era electronic health records (EHRs) that aspire to provide complete and specialized environments for diverse tasks. The federal push for health IT, spearheaded by the Office of the National Coordinator for Health Information Technology (ONC), establishes an information backbone for accountable care, patient safety, and health care reform. But we now need to take the next step: fitting EHRs into a dynamic, state-of-the-art, rapidly evolving information infrastructure — rather than jamming all health care processes and workflows into constrained EHR operating environments.

Escaping the EHR Trap — The Future of Health IT

Debates about the productivity yield of IT are new to health care but not to other sectors of the economy. During the 1970s and 1980s, the computing capacity of the U.S. economy increased more than a hundredfold while the rate of productivity growth fell dramatically to less than half the rate of the preceding 25 years.1 The relationship between the rapid increase in IT use and the simultaneous slowdown in productivity became widely known as the “IT productivity paradox,” and economists debated whether investing billions of dollars in IT was worthwhile. The Nobel laureate economist Robert Solow observed in 1987 that “you can see the computer age everywhere but in the productivity statistics.”

That earlier IT debate and its resolution carry important messages for today’s health IT debate. Solow’s famous observation launched more than two decades of research on IT’s effect on productivity, and that research revealed numerous explanations for the paradox — as well as evidence that earlier conclusions about the relationship between IT and productivity were incorrect and that under the right conditions, IT could indeed yield significant productivity gains.

Unraveling the IT Productivity Paradox — Lessons for Health Care

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Nuns on the Bus

Posted on June 21, 2012 by lmsinca

Yesterday jnc4p mentioned a slight difference between men and women that I found provocative.

It appears that when there is a financial crisis there is a gender divide on what the appropriate resolution is.

The male outlook as represented by Robert Rubin, Hank Paulson, Larry Summers, Alan Greenspan, Tim Geithner and Ben Bernanke seems to favor the make a deal approach as the way to resolve it with the government assisting/backstopping private entities. If a deal goes bad, make a bigger one until confidence is restored. I believe this is part and parcel of having the regulators captured by the mindset of the Wall Street banks they are supervising.

This is contrasted with the female outlook as represented by Sheila Blair and Brooksley Born which is more in line with follow the rules and let the chips fall where they may.

He went on to say how much respect he has for women like Sheila Bair and Brooksley Born.  His comment made me think of another woman who’s doing her part right now, not in the financial world, but in the political arena nonetheless, as a response to the spending cuts in the Ryan Budget, the increase in poverty since the beginning of this recession and in defiance of the Catholic Bishops’ rebuke.  Have you heard of Sister Simone?

(CBS News) JANESVILLE, Wis. – Fourteen Roman Catholic nuns on a nine-state bus tour are in Chicago Wednesday, after several stops in Wisconsin. Officially, they’re protesting cuts in federal programs for the poor. But the “Nuns on the Bus” tour is also an act of defiance against criticism from the Vatican.

Sister Simone Campbell is a Roman Catholic nun and the executive director of Network — a liberal social justice lobby in Washington.

“Nuns on the Bus” website

She’s been under siege, but she’s not fazed.

“Into every life a little rain must come,” she said.

Sister Simone is also a bit of a provocateur.

“Catholic sisters have always been out on the edge,” she said. “And quite frankly we have a long history of kind of annoying the central authority.”

The central authority they’ve recently annoyed is the Vatican itself. In April, sister Simone’s group and the Leadership Conference of Women Religious — representing 80 percent of the nation’s nuns — were attacked by the church hierarchy for focusing too much of their work on poverty and economic justice, while being silent on abortion and same-sex marriage.

Vatican reprimands U.S. nuns over “radical feminist themes”
U.S. Catholic nuns go about work after rebuke

Simone says she pleads guilty to part of that charge: “That I spend too much time working for people in poverty. I wear that as a badge of honor.”

The Vatican has appointed a bishop to correct what the church calls “serious doctrinal problems” in the way the nuns work.

They’ve been called radical feminists.

Simone’s response: “Oh my heavens. I actually have to laugh. We are strong women. We’re educated women. We ask questions. We engage in dialogue. That’s all we do. We stay faithful to the gospel and trying to live it.

From the AP via the Washington Post:

While the nuns say they aren’t opposing any specific Republican candidate, they plan stops at the offices of several closely tied to the budget process, including House Speaker John Boehner of Ohio, and Wisconsin Rep. Paul Ryan, the architect of the House-passed budget. Their first stop Monday was Rep. Steve King’s office in Ames. The tour will end in Washington on July 2.

Social activism at its finest.

Filed under: 2012, Poverty | Tagged: , , , | 5 Comments »

Tort Reform – for discussion

Posted on June 21, 2012 by markinaustin

see:

http://www.statesman.com/news/local/new-study-tort-reform-has-not-reduced-health-2402096.html

 

Disappointing, because TX took such a hard line in 2003 that if there were good results to show we would have them by now.

Filed under: tort reform | 9 Comments »

Morning Report 6/21/12

Posted on June 21, 2012 by Brent Nyitray

Vital Statistics:

Last Change Percent
S&P Futures 1351.2 0.5 0.04%
Eurostoxx Index 2220.9 13.5 0.61%
Oil (WTI) 80.75 -0.7 -0.86%
LIBOR 0.468 0.000 0.00%
US Dollar Index (DXY) 81.6 0.012 0.01%
10 Year Govt Bond Yield 1.65% -0.01%
RPX Composite Real Estate Index 180.7 0.2

Markets are flattish after a mixed Spanish bond auction and disappointing jobless claims numbers. Spain auctioned off 2.2 billion euros of 5 year debt, with a bid / cover ratio of 3:1, however it paid 6.07%.  Sovereign yields across Europe are lower, as are Treasuries with the 10 year down a basis point. MBS are up slightly.

Yesterday, the Fed maintained low interest rates and committed to extend Operation Twist through the end of the year. Notably, the Fed took down its projections for GDP growth and bumped up its estimates for unemployment. Here is a “marked up” version of the statement, showing the changes from the April release. Note that the Fed took down its numbers in spite of a massive rally in the 10-year and mortgages courtesy of Europe.

Initial Jobless Claims came int at 387k, down from a revised 389k the prior week and more or less in line with expectations. Philly Fed was a disappointment as the Business Outlook Survey indicated weaker business conditions in its area.  Rounding out the day’s economic data, May existing home sales came in at a 4.55 million annual rate, a drop of 1.5% MOM.

The FHFA House Price index was up .8% in April, while March was revised downward from + 1.8% to +1.6%. The FHFA House Price Index only considers Fannie and Freddie loans, so it acts as somewhat of a “center tendency” of the market, ignoring the high price and low price extremes. It certainly appears like the trend has shifted.  See chart below:

Software Provider Ellie Mae released its May Origination Insight Report which provides data on mortgages originated though its Encompass system. The typical closed loan had a FICO of 744, a LTV of 81, and a DTI score of 24/35.  A typical denied application had a FICO of 702, a LTV of 88, and a DTI of 28/43. The mix of refis vs purchase dropped to 54/46 from 56/44 in April and 61/39 in March, which is surprising given the drop in mortgage rates over the past 3 months. Closing times continue to increase, with the time to close up to 46 days from 42 in March. Overall, it shows a tight mortgage market with great rates for those who qualify.

On opposite ends of the economic spectrum, Octomom is getting foreclosed upon, while Larry Ellison is buying a Hawaiian Island.

Filed under: Morning Report | 111 Comments »