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Hello!
A healthy nation
is a wealthy nation. A peek into the healthcare sector can sum up
the social status of an economy. This issue, our team has adopted
a two-pronged strategy: one, to assess the healthcare expenses of
our nation and two, to peek into the functioning of our hospitals.
All these details, after
a look into the performance of our economy!
Real
GDP
As per the Bureau of Economic Analysis estimates, the preliminary
real GDP is to grow at an annual rate of 8.2% during the third quarter
of 2003. This was revised upwards by 1% from October's real GDP
rate of 7.2%.
The prime movers of the preliminary real GDP in the 3rd quarter
are personal consumption expenditures, equipment, software and exports.
These forces gained momentum with the negative growth of imports.
Happy peeking!
Editor
Marketspeek
Executive
Editor - Dr. Sharon Livingston
Editor - Vijay |
| Week's
Peek |
|
Marketspeek - U.S - Healthcare
- Healthcare
expenses can be classified as under:
- Hospital
care
-
Professional services
-
Prescription drugs
-
Nursing home
-
Others
- Of
the above, hospital care occupies close to 1/3rd of the
expenses, followed by physician services, amounting to 23%.
|
Vital Statistics
- Due
to an aging population and detection of new diseases, the
inpatient admissions are on the rise. The number of inpatient
admissions has already crossed 34 millions annually, in
the U.S.
- While
the admissions are on the rise, the number of inpatient
days is on the decline. The total inpatient days stands
at around 200 million days. The underlying reasons are:
-
Growing number of day care procedures
-
Development of techniques like keyhole surgeries, where
the duration of stay is very low.
- On
the other hand, the number of outpatient visits has grown
beyond 500 million.
- The
quantum of visits to the Emergency Department is also steadily
rising. These visits hover around 100 million in a year.
The lack of attention towards preventive care and the growing
volume of uninsured population are cited as reasons for
this ongoing trend.
- There
have been a growing number of Emergency Department diversions.
Among the reasons, lack of critical care facilities stands
as the foremost. An overcrowded emergency function fares
as the next frequent reason for the diversion of emergency
cases.
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| Analysis
- Every hour
spent on patients in an Emergency Department requires an equivalent
amount of time on paper work. This limits the availability of
staff and also triggers diversions. Hospitals can be better off
by making prudent investments in automating the paperwork.
- There is
a regular leap of technology in medical applications and treatment.
Each version of advanced medical technology also witnesses a jump
in costs. These escalating costs keep the advanced treatments
away from the reach of the uninsured and the low-end medical insurance
buyers. Hospitals need to ensure the reach of services to all
segments of the market.
- Debt instruments
(bonds) of non-profit hospitals are increasingly downgraded. Fundamental
issues like the rise in the average age of plant for hospitals
play a crucial role in widening the gap between hospitals and
the required capital.
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| Wish
I Were |
Cerner Corporation designs and develops clinical information systems
for the health-care industry. It is motivated with the goal of building
a better model of healthcare delivery by leveraging on technology.
The company has more than 1,000 associates and has seen its revenues
cross $150 million. Cerner is one of the companies known for doubling
its business every two years.
Neal Patterson founded Cerner in 1979. The founder stated that he
sensed a transformation going on. He was among the first to realize
that the computer would play a critical role in rendering real value
to any organization, at a higher plane, through apt application
software.
Cerner had known what it takes to make it big. It raised $13 million--$14
million in equity and never raised any money since then. The company
believes that the best equity is the money it earns through its
operations.
The founder’s ability to visualize and understand the tempo
of development has made all the difference. Patterson states, “Losing
your fear--you always want the fear. It's the ability to go through
the fear. The fear, the emotional part, is what keeps most people
from going through it. I'm absolutely convinced if you didn't have
the fear, you'll probably become reckless. It is a natural, healthy
thing to be afraid of it.”
For further reading:
http://www.pikes.org/wdaa03.html
http://smallbusinessschool.org/
www.nasbic.org/success/stories/cerner.cfm
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| BrandFact |
Nintendo
kicked off its operations in 1889 by manufacturing playing cards
in Kyoto. In 1947, it started a distribution company called Marufuku.
In 1959, it began printing playing cards with Walt Disney characters,
for children. |
| |
| This
Week that Age |
| 1st
December 1906 - The Cinema Omnia Pathe, considered the world's first
cinema, opened in Paris. |
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effort - not strength or intelligence - is the key to
unlocking our potential.
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