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Thomas Paine

To argue with a person who has renounced the use of reason is like administering medicine to the dead.

Sunday, October 18, 2009

The Medical Quack

The Medical Quack

SEC Goes to Work on Hedge Fund Investigation – Big Name Execs Intel Capital, IBM Arrested

This is the first time that court ordered authorized wire taps were used to investigate the world of inside trading, arrests made by the FBI.  Inside trading information around AMD was part of the information discussed according to the article as well as Hilton, Polycom and Google.  The one imagecompany at the focus of all of this is the hedge fund company, Galleon Group.

It is good to see the SEC with the help of the FBI making a comeback with enforcement.  In other related news B of A posted a 3rd quarter loss of one billion.  We wonder where all the money goes and why healthcare is so deprived.
The Banks Are Recovering – Healthcare Is Nowhere Near Recovery

“And so what do those big money makers use:  Robotic Investing Software and you can buy some robots online, but you can bet it’s not all the proprietary code that Goldman uses.

One company said set your algos and go golf, the robot will do the rest, so that’s how they do it with the right hardware and connections.  So this is how they live, set the algos and can spend the rest of the day leisurely or adjust the robot at any time.  This is what makes big bonuses, basically wagering.”

Hospitals and doctors are struggling to make ends meet while we continue to hear of big bonuses.  Harvard University today took a 1.3 billion dollar cash hit, and again we keep hearing the economy is getting better?  Well the inside traders economy seemed to be improving with hedge funds coming up with schemes as mentioned in a post below with basically gambling on human lives with bonds created with people with cashed in life insurance policies that have chronic or potentially fatal conditions, and the deal with the hedges was that investors who were in a pool where survivors were living too long would lose their money.  The link below is a real eye opener.  When you read all of this, Martha Stewart looks more like an angel by comparison.  Dollar amounts here of 12 million are small by Wall Street standards, but perhaps there’s more to come.  BD 

If you think the “so called death panels” are something to worry about, Human Hedge Funds

    The Securities and Exchange Commission on Friday charged six finance and technology executives and a hedge fund with insider trading.

    Those charged include a senior VP at IBM (NYSE: IBM), a managing director at Intel (NSDQ: INTC) Capital, and a director at McKinsey & Company.

    The SEC said that billionaire Raj Rajaratnam, head of Galleon Management, a hedge fund advisory firm based in New York, conspired with five other individuals in a scheme that generated over $25 million in illegal gains. image

    The SEC's complaint claims that Rajaratnam and his associates obtained confidential information about corporate earnings or takeover activity at several companies, including Google, Hilton, and Sun Microsystems.

    SEC enforcement director Robert Khuzami said in a statement that Rajaratnam's financial results were not a consequence of savvy trading but of savvy networking. "He cultivated a network of high-ranking corporate executives and insiders, and then tapped into this ring to obtain confidential details about quarterly earnings and takeover activity," said Khuzami.

    In addition to Rajaratnam, those charged include: New Castle Funds portfolio manager Danielle Chiesi of New York, N.Y., Intel Capital managing director Rajiv Goel of Los Altos, Calif., McKinsey & Company director Anil Kumar of Saratoga, Calif., New Castle senior managing director and general partner Mark Kurland of Mount Kisco, N.Y., and IBM senior VP Robert Moffat of Ridgefield, Conn.

    New Castle Funds is the hedge fund named in the complaint.

    From Reuters:

    All of the defendants were arrested this morning by agents of the FBI.Rajaratnam, Kumar, and Chiesi were arrested in New York; Kurland was arrestedin Mt. Kisko, N.Y.; and Goel was arrested in San Jose, Calif. Moffatsurrendered this morning to the FBI in White Plains, N.Y. Rajaratnam, Chiesi,Kurland, Kumar, and Moffat will be presented in Manhattan federal court latertoday before U.S. Magistrate Judge Douglas F. Eaton. Goel will be presentedtoday in federal court in San Jose, Calif.

    From approximately January 2006 until around July 2007, Rajaratnam and others engaged in schemes to trade on the basis of Inside Information pertaining to Polycom, Hilton, and Google. Rajaratnam obtained Inside Information relatingto these companies from the CW who, in turn, obtained this information fromvarious inside sources. Those sources included an insider at Polycom, a sourceat Moody's who provided Inside Information pertaining to Hilton, and a sourceat Market Street Partners who provided Inside information pertaining toGoogle. Based on trading related to information about these entities,Rajaratnam caused Galleon to earn a total profit of more than $12.7 million.In exchange for the Inside Information Rajaratnam received from the CW, Rajaratnam provided the CW with Inside Information on a number of companies.

SEC Charges Billionaire, Tech Execs With Insider Trading -- InformationWeek

Care 360 from MedPlus (Quest Diagnostics) Now Has Ambulatory Web Based EHR – Integrated with Labs and E-Prescribing

Back in July I had the opportunity to chat with Rohit Nayak from MedPlus and at that time he stated that an EHR from MedPlus was on the way, wellimage it’s here now.  You can use the link below to explore some of the offerings from MedPlus that we discussed.  Care 360 is also involved in many RHIO projects across the US as well.  See the related links below for even more information.

Quest Diagnostics and Health IT – Interview with Rohit Nayak, Vice President of Sales, Clinical Information Solutions Group, MedPlus

Physicians can also use an iPhone to get patient lab results.  If you want to try out Care 360 e-Prescribing, check out the 6 month trial offer currently available.  Quest Diagnostics works with Personal Health Records, Google Health and HealthVault so patient labs can be accessed by the patient.  If you are a physician you would need to enroll first to allow this to occur. 
Sean Nolan over at HeatlhVault stated that Lab information and data is some of the richest information available today for helping patients gather and populate the information for their PHR. 

Care 360 Lab results online have been available for quite a while and even several years ago when I was still writing my EMR, I wrote an interface to bring the results into my program.  Why deal with paper when all this can be done online and move the next level up.  If labs are ordered online, the patient doesn’t have to worry about losing that slip of paper for the lab order, and gee, stop waiting on snail mail and get your results faster for your patients. 

I have many links on this blog for Quest and MedPlus, just do a search on the second search box and you will find them all.  Be the “informed patient” and “informed MD” and read up and get involved as technology can certainly take much of the leg work out of all the stuff you are doing by chasing paper.  I mention participation, and to relieve yourself of some of the frustrations, take a few minutes and learn about Quest/MedPlus and other technology solutions, you’ll be happy you took the plunge and simplify some of your healthcare tasks.  BD

From the Website:
MedPlus offers a comprehensive suite of solutions focused on enabling the physician in the ambulatory setting to provide the level of care they desire in the most efficient manner possible.
MedPlus offers a comprehensive suite of solutions focused on enabling the physician in the ambulatory setting to provide the level of care they desire in the most efficient manner possible.
The web-based (ASP) Care360™ suite of solutions is currently used by close to 70,000 physician practices nationwide. At the heart of the Care360 solutions is an innovative, secure, HIPAA compliant platform that removes all the complexities associated with traditional client-server type solutions.
Flexibility is essential to all of the Care360 solutions, which are built on cutting edge technologies that ensure your practice is well positioned for future initiatives1. This offers several compelling advantages to your practice such as:
  • Simple Interoperability
    • Seamlessly connect with other systems via web services 

  • Instant Connectivity & Communication
    • Securely messaging any user on the nationwide Care360 network
    • Out of the box communication with patients via industry leading Personal Health Records (PHR's)

  • No Costly Hardware Requirements
    • Only requires PC with browser and internet access
    • Affordable monthly subscription model
    • Rapid/Affordable Implementation
    • No costly/time consuming upfront implementation

  • Instant/Transparent Product Upgrades
    • Single instance, web-based architecture enables us to upgrade the system without impacting your practice

Since all of the Care360 solutions are built on a single web-based platform, it's an effortless transition from one solution to another because there is no added installation or implementation required. When you decide to upgrade we simply activate the additional module remotely, provide additional training and you are ready to go!
The following Care360 components are available:
Contact us today to learn about how the Care360 suite of solutions can help you streamline your practice.
MedPlus is the healthcare information technology subsidiary of Quest Diagnostics and Care360™ is a registered trademark of Quest Diagnostics.
Technology Solutions for the Physician Office
Related Reading:
Quest Diagnostics and Microsoft HealthVault – Connect to get your Lab Results in your PHR
Quest Diagnostics and Google Empower Patients and Physicians to Share Diagnostic Test Results Online
Quest Diagnostics/MedPlus Centergy(TM) Offers New Technology Benefits – HIE and RHIO
Quest Care360 – Access Patient Lab Results and Medication History from your iPhone
Health IT company declares victory in NHIN trial to send and receive patient medical record summary
NEPSI – Free E-Prescribing Solutions with Microsoft HealthVault and Google Health
Quest Diagnostics Joins National ePrescribing Patient Safety Initiative (NEPSI)
Statewide Health Information Exchange System to Launch in 23 Orange County ERs

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