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HealthBiz

The life cycle of a life sciences company

Written by | Monday, 16 April 2012 10:21 |

Seated at his desk at Borgess Heart Institute last month, Dr. Tim Fischell remembers the “a-ha moment” that launched what would become Ostial Solutions LLC.

Employers have many questions they need to answer as health care reform brings massive changes to how employers buy their employee health coverage.

Priority, Blue Cross profitable in 2011

Written by | Thursday, 12 April 2012 11:01 |

Priority Health reversed its financial performance in 2011 and returned to the black, while Blue Cross Blue Shield of Michigan recorded a small profit.

The sweeping federal health care reform law and the formation of health exchanges could significantly change how individuals and small businesses will buy health coverage.

Two of Michigan’s largest health insurers are busy preparing for the onslaught of changes to the nation’s health care system as the start date fast approaches for many provisions in the Patient Protection and Affordable Care Act.

Companies in West Michigan know how to bend metal and to do plastic injection molding, but the region’s manufacturers are no one-trick ponies: They’re increasingly trying to diversify into a range of industries, including medical devices.

In putting a solid stake in the ground in Grand Rapids, Great Lakes Specialty Hospital sees the potential to treat a greater number of patients in West Michigan who need extended hospital care before they move into rehabilitation, a nursing home or go home.

Q&A: Rob DeWit

Written by | Friday, 23 March 2012 09:26 |

After two decades in R&D at Upjohn, Pharmacia and Pfizer, Rob DeWit in 2009 joined the Southwest Michigan Innovation Center to help keep scientific talent in the region and grow the state’s life science base. The Michigan Strategic Fund in January awarded SMIC a $600,000 grant. While he said he wasn’t ready to get into the specifics of how those funds will be implemented, DeWit met with MiBiz to discuss the life sciences and the sector’s role in the state’s economy.

The recent addition of a small surgical practice that boosts the physician lineup at Lakeshore Health Partners follows a major trend within health care. A litany of forces has increasingly led physicians to opt to become employed by a large medical group practice or health system, enabling them to leave behind the growing administrative burdens of running a private practice in an age of health care reform.

Oftentimes employees don’t know what to say or what to do when a co-worker or boss is faced with a cancer diagnosis, and it’s important to know there is no cookie-cutter approach in offering support.

The addition of Mary Free Bed Rehabilitation Hospital and Carson City Hospital begins building a health care collaborative beyond its founding members.

The state stands to add 27,000 new life science jobs by 2020, according to a report issued last month by the Business Leaders for Michigan. On the other hand, life science professionals and economists counter by saying these robust job projections may be overly optimistic.

Mary Free Bed plans $48M expansion

Written by | Sunday, 05 February 2012 23:53 |

Mary Free Bed Rehabilitation Hospital, just months after forming a statewide care network that’s already bringing more patients to Grand Rapids, plans to embark this year on an ambitious $48 million expansion and renovation.

Hospitals plan $62M in construction projects

Written by | Tuesday, 31 January 2012 11:35 |

A trio of projects planned at West Michigan hospitals come after a relatively quiet period for health care construction. Holland Hospital, Saint Mary’s Health Care in Grand Rapids and Mercy Health Partners in Muskegon are each planning renovations or expansions for 2012.

GVSU MinicoverGRAND RAPIDS — The health care jobs that are projected to grow the fastest in the years ahead reflect talent demands that are driven by an aging and unhealthy population, as well as changes in how care is delivered.

A need for more nurses easily tops an annual heath care employment outlook for West Michigan issued by Grand Valley State University economists. Using 2008-2018 projections from the U.S. Bureau of Labor Statistics, plus local graduation, retirement and turnover rates, GVSU projects health care providers will hire an average 1,747 nurses annually in the region for the next several years.

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