A Proposed Agreement for Blockchain-Enabled Medical Staff Credentialing Process

healthcare partnerships

The medical credentialing process, whether for a hospital, a hospital system or a health plan, has emerged as a potential early target for the application of blockchain technology and administration.1 It is a process that allows a secure database to be established over time and on a cumulative basis.

Medical credentialing involves verifying whether a candidate meets the applicable educational and training prerequisites for the position sought — appointment to a hospital’s medical staff or the ability to participate as a member of a health care delivery network, such as an independent practice association — and subsequent updating and verification throughout a career.

This process takes time and can be frustrating to complete, but it can be made more efficient by using simple storage techniques and avoiding duplication.

For Westlaw: “Copyright [2018] Westlaw, a Thompson Reuters publication.”

The full article is available here.

CMS Proposes Changes to Lower Drug Prices

pharmacy

On November 30, 2018, the Centers for Medicare & Medicaid Services (CMS) published 83 Fed. Reg. 62152, which proposes changes to Medicare Part D (prescription drug benefit) and drug plans offered by Medicare Advantage (managed care) in an effort to reduce out-of-pocket costs for beneficiaries. The proposed rule is part of the Trump Administration’s  four part strategy to effectuate its “Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs,” published in May 2018. The Administration’s strategy aims to lower prescription drug costs for patients with a mixed approach of “improved competition, better negotiation, incentives for lower list prices, and lowering out-of-pocket costs.”[1]

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Sneak Preview of This Week’s Business of Personalized Medicine Summit

Double Helix

This year marks the 15th anniversary of the completion of the Human Genome Project. In the decade and a half that has passed since, the genomic revolution has spurred an immeasurable level of excitement and support surrounding the promise of personalized medicine, setting high expectations for a new era of health care and rapidly transforming the field into a multi-billion dollar industry. While realizing that promise has turned out to be neither quick nor easy, recent scientific and technological progress has been impressive, pointing to a possible tipping point for mainstream clinical adoption as well as tremendous commercial growth potential for innovators, entrepreneurs, and investors. This Thursday, December 6, 2018, Foley and the Personalized Medicine Coalition will host the Business of Personalized Medicine Summit in South San Francisco, the birthplace of biotechnology, where we will dive into this potential and how to capitalize on it.

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Orthopedic Surgical Practice Recapitalizations: Six Relevant Considerations

orthopedics

The past decade has seen a tremendous amount of private equity investment in physician practice recapitalizations, primarily in hospital-based practices such as anesthesiology and radiology as well as “retail medicine practices” like dermatology and ophthalmology/optometry, to name a few. Orthopedics, on the other hand, has received less attention from investors, but we believe that trend is about to change, and in a significant way.

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