Bill Presses For Huge Increase In Residency Slots Paid For By Medicare
Modern Healthcare reports on a provision for residency slots in the House version of the president's domestic policy package. Meanwhile, reports say health care employment has topped 16 million, the highest number since early in the pandemic.
Modern Healthcare:
House Bill Calls For Biggest Increase In GME Slots In Decades
The House's version of President Joe Biden's domestic policy package includes something hospitals have been pushing for for decades: thousands more residency slots paid for by Medicare. If enacted, this would be the biggest expansion of the Graduate Medical Education program in decades and a win for hospital groups that are projecting looming doctor shortages sparked by an aging population and retiring physicians. (Hellman, 11/5)
Modern Healthcare:
Healthcare Employment Tops 16 Million, The Most Since Early 2020
Healthcare employment rebounded somewhat in October after a dip in September. The healthcare industry added an estimated 37,200 jobs in October after a slight decline in September, when the industry shed 1,000 jobs—a revised count that shows a much smaller decrease than the government's previous report. The U.S. Bureau of Labor Statistics published its latest preliminary jobs data on Friday. (Bannow, 11/5)
Also —
Stat:
Clinical Trial Sites Face Challenges In Diversifying Personnel And Participants
As demands for diversity and equity increase across the globe, a new analysis finds nearly 75% of patients who are enrolled in industry-sponsored clinical trials in academic medical centers and community hospitals are white. Yet the proportion of a given race or ethnicity among clinical trial personnel closely aligns with the corresponding race or ethnicity of study participants, according to the Center for Study of Drug Development at Tufts University, which conducted the analysis of nearly 3,200 trial sites that are regulated by the Food and Drug Administration. The findings suggest that clinical research organizations and drug makers face stiff challenges in order to diversify both trial personnel and participants, according to center director Ken Getz. (Silverman, 11/5)
Crain's Chicago Business:
Why One Small Hospital System Stands Pat While Others Bulk Up
Loyola Medicine has reached a strategic crossroads in a consolidating market. Anchored by an academic medical center, Maywood-based Loyola has long stood out in the local market by providing more advanced care than other hospitals in the western suburbs. But its future is less clear as behemoths like Advocate Aurora Health, NorthShore University HealthSystem and Northwestern Medicine build sprawling regional networks with more than three times as many hospitals. (Goldberg, 11/5)
The Wall Street Journal:
Blackstone To Invest Up To $250 Million In Autolus Therapeutics Of U.K.
Blackstone Inc. BX -1.37% is investing as much as $250 million in U.K. biotechnology company Autolus Therapeutics AUTL -1.59% PLC to fund the final stages of development of a new therapy to treat a serious form of leukemia, the companies said. Of the total investment, as much as $150 million will support the development and commercialization of obecabtagene autoleucel, a cell therapy that targets a condition called acute lymphoblastic leukemia. London-based Autolus will receive $50 million of that upfront, with the rest to be paid as the company achieves certain milestones. In return, Blackstone’s life-sciences unit will receive a portion of the therapy’s royalties. (Gottfried, 11/7)
In news on drug fraud —
Bloomberg:
A Video Game Only A Pharmacist Could Love Ferrets Out Drug Fraud
Robert Lodder, a professor at the University of Kentucky’s School of Pharmacy and a biopharmaceutical entrepreneur, has long enjoyed a good video game. Now he’s turning his passion for gaming into a powerful tool to identify defective and dangerous drugs. Together with Heather Campbell, an engineer in the pharmaceutical industry who has a penchant for software coding, Lodder has created a video game to help hospitals and pharmacies ferret out shoddy drugs. The pair have already deployed their game to lead them to a disturbing insight: Some pharmaceutical firms may be skimping on active ingredients to save money at the expense of drug quality. For someone with a headache, that could mean a bit of added discomfort. For a patient recovering from heart surgery, a weakened drug could cause serious harm. (Edney, 11/7)
