Insight, analysis & opinion from Joe Paduda
Steve Cavanaugh, former, and highly-respected head of the Louisiana Workers Comp Corp, passed away last week.
While I only know Mr. Cavanaugh by reputation, by all accounts he was an insightful, innovative, and effective leader. After leaving the LWCC, Cavanaugh had begun working to build a new insurance carrier in Texas. He succumbed to pancreatic cancer last week at the age of 55.
Thanks to Workers Comp Executive for the notice.
First Health has a leader for the workers comp business. After a search lasting almost two years, Coventry found the new leader right inside the parent company.
Jim McGarry will be the new President of the Workers Comp division, effectiv 11/17/06. His COO will be Steve Rodriguez, ex-SVP and head claims exec at CNA. McGarry, who is located in Irving Texas, is reporting to CEO and Chairman Dale Wolf.
More details to follow…
CorVel’s stock has hit the stratosphere, giving the company a market cap of over half a billion dollars, and a PE of 37. The stock’s price has more than tripled in the last year, and trading has been particularly heavy over the past few weeks, with volumes up substantially over the last two months.
Wal-mart’s $4 generic program is growing – more stores, more states, and more scripts are now covered. The latest information has the giant retailer’s cheap program operating in over 3000 in-store pharmacies in 32 states. And, the list of drugs has expanded to include 331 prescriptions.
I’ve received some flak from readers who seem to object to my past posts questioning why Wal-mart is doing this.
I just can’t stop myself.
The Ohio Bureau of Workers Comp scandal is so big, so juicy, so full of great stories and bizarre twists and turns and corruption and lying and deceit and, well, we could be talking mini-series here!
The latest news is Tommy Noe, coin dealer, real estate developer, and scam artist extraordinaire, will not be needing either of his waterfront homes, at least not for ten years. Tommy may have thought he would be living in luxury courtesy of the state; while he will be living off the taxpayers, the accomodations will be somewhat more spartan.
It could have been worse; they could have re-opened Alcatraz for him and his co-conspirators…
David Williams is hosting Health Wonk Review in a return engagement. While David is somewhat misty over the old days of HWR, he does an excellent job coping with the growth of the “review”.
The big three will soon be the not-so-big three, expecially if their legacy health care cost problem is not resolved soon. I’m referring to the domestic US auto industry, where legacy health care costs have been crippling GM Ford and Chrysler for years. And the worst is yet to come.
Chairmen of all three stopped into the White House to plead their case yesterday, and were met with the usual “we’ll get right on studying that problem.”
One of the more interesting proposals advanced by the auto chairs is a reinsurance pool to cover catastrophic claims.
And even more interestig was the hopeful tone struck by GM’s Rick Wagoner when he noted that the new Democratic majority appears interested in helping employers struggling with health care costs.
What does this mean for you?
When big manufacturers get behind major changes to the US health care system, we’re closer to finally attacking the problem.
Yawn.
It didn’t take the HHS Secretary Mike Leavitt long to start in with the tired rhetoric about the evils of government-run health care(free reg req). Leavitt does not want the Feds to negotiate drug prices. Heck, he doesn’t even want Congress to give the Feds the power to do so.
Why not? What’s the Secretary scared of?
According to him, it’s the old archenemy of all things good – government-run health care. While I too am a firm believer in the power of the free market, Leavitt’s logic falls apart upon even the most rudimentary exam.
I’ve been spending a good deal of time examining the growing trend in medical tourism – Americans seeking medical care in far-off lands. The motivation is primarily cost; procedures can be less than half the cost overseas compared to US prices.
Other employers are contracting directly with providers, eliminating the health plan “middle men”.
Another option for employers seeking to gain more control over health care is via in-house clinics.
The blog run under the auspices and banner of the highly esteemed journal “Health Affairs” is starting to get some traction.
Recent posts examining the implications of the elections on health care, GOP and Democratic views of the elections on health policy, and a well-done piece on the reality of the nursing shortage all bode well for the journal’s blogging future.
Now if they could just figure out how to post every day…
