Author: Freddie Sanchez

The advanced tools and technologies enable improved flexibility and productivity for diagnostics development and support advanced allergy and autoimmune testing and drug monitoring

CHICAGO, July 25, 2022 – AACC 2022 Thermo Fisher Scientific Inc., the world leader in serving science, is showcasing innovative diagnostic technologies, assays and a complement of solutions for researchers developing new diagnostics. During the 74th American Association for Clinical Chemistry Annual Scientific Meeting and Clinical Laboratory Exposition (AACC 2022), being held at the McCormick Place Convention Center in Chicago, July 2428, Thermo Fisher is exhibiting within booth #1413.

“Our latest platform and workflow innovations give clinical laboratories and researchers greater flexibility and assurance as they respond to new and existing diagnostic challenges,” said Gianluca Pettiti, executive vice president, Thermo Fisher Scientific. “By minimizing hands-on time, reducing time-to-results, and improving analytical performance, we’re enabling the science that shapes the future of diagnostics, as we all work toward improving patient outcomes.”

Enabling Clinical Research Lab Agility and Responsiveness
The Applied Biosystems TaqMan-SARS-CoV-2 Mutation Panel* enables labs to build their own custom panel from a menu of verified real-time PCR assays. This meets the evolving needs of customers and public health agencies seeking to rapidly identify and survey current mutations as well as emerging variants.

To support labs as they move beyond COVID testing, Thermo Fisher is evolving its respiratory testing menu and improving automation to accelerate research. The Applied Biosystems TaqPath COVID-19, Flu A, Flu B Combo Kit** helps labs expand their existing COVID-19 testing menu for respiratory samples while maintaining workflow simplicity and without increasing operational costs.

Also featured at AACC is the new Thermo Scientific KingFisher SpeciTRAX Sample Transfer System, which provides researchers in infectious diseases and genetics with an automated sample-handling system, including new features, such as an automated decapper, that relieve the sample processing bottleneck for increased throughput.

A new interface with the Inpeco S.A.’s FlexLab Total Laboratory Automation system (TLA), enables primary tubes on the Inpeco LAS to be transported directly to the Thermo Scientific Cascadion SM Clinical Analyzer*** for automated loading, pre-treatment and analysis. This first-of-its-kind integration enables fully automated, gold-standard LC-MS/MS technology to improve clinical lab productivity.

New Technology and Assays
The Thermo Scientific DRI Fentanyl II Drugs of Abuse Assay*** is now available on medium to high-throughput instruments, including the Indiko Plus and Mindray BS-480, Mindray BA-800M. Labs of any size can now accurately test for multiple drugs of abuse at high volume using fully automated analyzers. Thermo Fisher’s broad and complementary offering of screening to confirmatory solutions also includes the Thermo Scientific Tox Explorer Collection, an all-in-one LC-MS/MS solution for toxicology.

Enhanced Allergy and Autoimmune Testing
The Thermo Scientific EliA RNA Pol III and EliA Rib-P*** tests have received U.S. FDA clearance for aiding in the diagnosis of Systemic Sclerosis and Systemic Lupus Erythematosus. These tests are part of a broader EliA portfolio of connective tissue disease tests that help provide a clearer clinical picture for patients.

*The Applied Biosystems Taqman-SARS-CoV-2 Mutation Panel and Thermo Scientific KingFisher SpeciTRAX Sample Transfer System are “For Research Use Only. Not for use in diagnostic procedures.”
**The Applied Biosystems TaqPath COVID-19, Flu A, Flu B Combo Kit is “ For Emergency Use Authorization (EUA) Only. For prescription use only. For in vitro diagnostic use.”
***The Thermo Scientific Cascadion SM Clinical Analyzer , the Thermo Scientific DRI Fentanyl II Drugs of Abuse Assay and the Thermo Scientific EliA RNA Pol III and EliA Rib-P are “For In Vitro Diagnostic Use.”

Workshops at AACC

Thermo Fisher is hosting multiple workshops during AACC designed to give attendees more in-depth information on the applications and benefits of its advanced solutions.

Thinking Beyond the Test workshop is a workshop that broadly discusses the role of clinical laboratories in impacting patient care. The workshop is on Tuesday, July 26 from 7:00 a.m. to 8:30 a.m. in Regency Ballroom B.Register here.

MAS Controls Ortho VITROS Users Group Meeting features a discussion on how Thermo Scientific MAS Quality Controls – using LabLink software on Ortho VITROS platforms – can help enhance productivity, improve clinical outcomes and reduce costs. The workshop is on Tuesday, July 26 from 7:00 a.m. to 8:30 a.m. in Regency C and D. Register here.

LC-MS/MS as a First Line Screening Assay workshop will discuss how the use of LC-MS/MS for early diagnosis is imperative for early treatment and disease prevention. The workshop is on Wednesday, July 27 from 7:00 a.m. to 8:30 a.m. in Regency Ballroom E. Register here.

From COVID-19 and Beyond workshop covers the benefits of PCR and multiplex testing as the industry moves beyond COVID. This workshop is on Wednesday, July 27, from 7:00 a.m. to 8:30 a.m. in Regency Ballroom C. Register here.

For more information on all the Thermo Fisher products and solutions exhibited at AACC 2022, please visit: thermofisher.com/aacc.

About Thermo Fisher

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

Mindray expands its portfolio with a new innovative, dedicated OB/GYN ultrasound machine, the Imagyn I9.

Mahwah, N.J. – June 28, 2022 – Mindray, a global leader and developer of healthcare technologies and solutions for ultrasound, patient monitoring, and anesthesia, announced the launch of a new ultrasound product to address the unique demands of busy OB/GYN practices — the Imagyn I9 Ultrasound Machine. The Imagyn I9 Ultrasound System is Mindray’s first dedicated OB/GYN product slated to meet the rigorous demands of OB/GYN practices. The new system has unique design elements that focus on usability and ergonomics within the OB/GYN space, including elevated transducer ports, a fully free-floating user interface, and customizable E-Ink keys.

Powered by Mindray’s revolutionary ZONE Sonography® Technology+ (ZST+) and leveraging AI-enhanced technologies, the Imagyn I9 Ultrasound System uses auto clinical scenario identification and automation at every point, from imaging optimization to planes acquisition, quantification, and creating an automated workflow. The Imagyn I9 Ultrasound System provides a full-stack smart solution for efficient women’s health, covering wide-ranging applications from pre-pregnancy to obstetric to post-partum.

“As we continue to strengthen our position in women’s health, the addition of the Imagyn I9 Ultrasound Machine shows our dedication to advance medical technologies to make healthcare more accessible,” said Wayne Quinn, President of Mindray North America. Quinn continued, “We are pleased to introduce the first dedicated OB/GYN ultrasound system powered by our revolutionary ZST+. This milestone will tremendously impact women’s health clinicians and empower them to deliver high-quality care with peace of mind.”

Mindray develops meaningful ultrasound solutions to help clinicians provide timely answers and elevate patient care. Mindray’s innovative, accessible ultrasound machines deliver exceptional image quality with a suite of artificial intelligence (AI) enhanced technologies to help clinicians improve reproducibility, optimize productivity, and achieve consistency. The Imagyn I9 Ultrasound System features innovative design elements such as an intelligent iConsole control panel, a 2-hour continuous scanning battery, and quiet operation. Breaking the mold of conventional ultrasound systems and bringing ease-of-use and ergonomics into the limelight, the Imagyn I9 Ultrasound System provides an entirely new experience driven by innovation.

Imagyn I9 Ultrasound System Advanced Technologies Highlights:

• Sound Speed Compensation (SSC): Automatically detects and analyzes different tissue characteristics to determine and apply the optimal sound speed needed for improved image quality. This unique, one-touch, intelligent algorithm improves lateral, spatial, and contrast resolution and imaging at depth.
• Glazing Flow: Provides optimal visualization by intuitively and dynamically displaying a 3D effect to blood flow with high definition and clarity, especially for tiny and overlapping vessels. This technology can also be applied post-processing.
• Smart Face: Delivers a fast and intelligent optimization for fetal face with a simple one-touch operation. It can immediately remove occlusions such as cord, placenta, uterus, and extremities in the volume data to generate an optimal view of the fetal face, reducing the need for time-consuming manual adjustments.
• Smart Planes CNS: Provides a robust and user-friendly solution to automatically detect planes and calculate frequently used measurements of the central nervous system (CNS) in fetal brain examinations with one-touch. By automating these measurements, exam times decrease, allowing more time to focus on anatomy.

The Imagyn I9 Ultrasound is available immediately through Mindray’s trusted partners. Mindray’s ultrasound solutions, including the Imagyn I9, command the industry’s best investment protection and total cost of ownership with a standard 5-year warranty and Mindray’s exclusive Living Technology™ promise that provides customers with easily upgradable software enhancements. Through innovative solutions like the Imagyn I9, Mindray continues to drive its mission forward, advancing medical technologies to make healthcare more accessible.

About Mindray

Mindray is a leading developer, manufacturer, and supplier of medical device solutions and technologies used in healthcare facilities around the globe. We believe we can change lives by making the most advanced healthcare technology attainable for all. We do this by empowering healthcare professionals through innovative, high-value solutions that help create the next generation of life-saving tools across three primary business segments: patient monitoring and life support, in-vitro diagnostics, and medical imaging. Mindray maintains its global headquarters in Shenzhen, China; Mindray North America is headquartered in Mahwah, New Jersey. Our Ultrasound Innovation Center is located in San Jose, California with additional facilities in major international markets around the world. For more information, please visit http://www.mindray.com.

Despite a spike in infections earlier this year, U.S. officials opted to guard the institutions’ names, citing privacy.

One concern held by some federal health officials is that the disclosure could embarrass hospitals and lead them to stop reporting their information. | Mario Tama/Getty Images

By RACHAEL LEVY

06/25/2022 07:00 AM EDT

The Biden administration during the Omicron wave considered publicly releasing data detailing how prevalent Covid-19 spread was inside individual hospitals, but ultimately chose to keep that information private, according to two people familiar with the discussions

The decision to withhold the names, based partly on concerns about duplicative data and partly on fears of embarrassing hospitals, denies patients the opportunity to steer clear of health systems with poor track records and allows facilities to avoid public scrutiny, patient advocates say.

Covid cases and hospitalizations have fallen from their winter peak and the administration pushes personal responsibility to combat infection, but many disability-rights advocates are encouraging the government to make the information public, arguing it is necessary to make safe choices, especially for people with chronic conditions and weakened immune systems.

“Not knowing what the likelihood of getting transmission in the hospital really impacts an individual’s ability to quote unquote ‘make a personal decision’ on their risk levels,” said Mia Ives-Rublee, a disability rights advocate who has a lung condition that makes her more susceptible to Covid.

Over the four weeks ending June 19, U.S. hospitals reported an average of 1,457 patients per week had caught Covid during their stay, according to a POLITICO analysis of data from the Department of Health and Human Services. That follows a record month in January when more than 3,000 patients each week were infected while in the hospital.

Though the higher numbers have subsided, the risk remains real for a subset of the population with compromised immune systems who must weigh getting check-ups and treatments for potentially serious issues “versus maybe getting Covid and ending up on the ventilator,” Ives-Rublee said.

In a March meeting with the CDC, Ives-Rublee and other patient advocates requested more transparency on hospitals’ transmission, but the conversations went nowhere, she said.

“We are frustrated with the lack of progress that we’ve seen in terms of addressing concerns for folks who are extremely at risk for Covid,” Ives-Rublee said.

Other advocates told POLITICO they intend to keep pressing the administration ahead of what the Centers for Disease Control and Prevention predicts could be another fall surge in Covid cases.

“A majority of voters want HHS to level with us – tell us how much coronavirus is spreading in the particular hospital we go to,” said Matthew Cortland, an immunocompromised disability rights activist who ran a recent poll on the issue for Data for Progress, a left-leaning think tank. “But that transparency is inconvenient for the powerful hospital lobby.”

The American Hospital Association wants facilities’ infection numbers to stay private. “Reporting aggregate data is the most appropriate approach given the very low occurrence of hospital onset COVID-19,” Nancy Foster, an executive with the AHA, said in a statement.

Throughout the pandemic, many hospitals chose not to implement measures that could have dramatically decreased transmission, according to workers, health executives and patients around the country.

Many facilities no longer require masks for visitors or staff, despite CDC recommendations. Even where masks are required, workers and visitors usually don surgical masks, among the least protective ones available, instead of N95s. Hospitals follow CDC guidelines, which allow Covid-positive staff to return while infectious. Industry executives insist their protocols are adequate and that some Covid transmission is inevitable; the AHA says hospitals’ measures are generally safe.

U.S. health officials have debated the merits of identifying hospitals’ infections since the Trump administration began collecting the information in 2020, according to three current and former officials who were granted anonymity to speak candidly about internal deliberations.

The figures only include patients who test positive after a minimum hospital stay of 14 days to ensure a patient didn’t contract the virus before admission. The government’s tallies are likely less than the total because hospitals don’t report people who test positive after being discharged.

Trump-era officials decided to keep hospitals’ names private, fearing that outing them might discourage people from seeking health care, according to two former health officials, one of whom worked in the Trump and Biden administrations. Also, a Trump HHS spokesperson confirmed the thinking.

But more than two years into the pandemic, with the availability of vaccines and treatments, Biden officials no longer worry that most patients are avoiding care, according to one of the people involved in more recent discussions. Some U.S. health officials want the same kind of transparency that exists for other hospital-acquired infections, they say. For years, the U.S. government has collected patient infection rates for various pathogens and published scores for each hospital on a website for patients.

Yet the CDC and Office of the Assistant Secretary Preparedness and Response, the two agencies that could make the data public, have declined to release it. POLITICO filed freedom of information requests in April but federal officials have not yet provided the records.

A HHS spokesperson said in a statement the agency wouldn’t release the names for “privacy concerns” but declined to specify what the privacy concerns were.

One concern held by some federal health officials is that the disclosure could embarrass hospitals and lead them to stop reporting their information, according to one U.S. health official who has discussed the matter with the CDC and CMS. But, that concern isn’t universally held.

Some CDC officials have argued internally that the information — as hospitals currently provide it — is not a good measure of risk, according to two CDC officials who have reviewed the data, who were granted anonymity to speak about internal debates. That’s because facilities report snapshots each day of the number of patients who currently have hospital-acquired Covid, meaning some patients are counted again in the following days as they remain in the facility.

The CDC didn’t respond to comment requests.

Allan James Vestal contributed to this report.

Biden officials to keep private the names of hospitals where patients contracted Covid – POLITICO

Paige Twenter – Updated Friday, June 24th, 2022

Medicare recipients could have saved up to $3.6 billion on generic drug costs in 2020 if Medicare paid the same prices as investor Mark Cuban’s pharmacy, according to a study published June 20 in Annals of Internal Medicine. Mr. Cuban tweeted the results, urging President Joe Biden and other elected officials to “have your people call my people and let’s get this done.”

The pharmacy, Mark Cuban Cost Plus Drug Co., has quickly gained speed from about 100 generic drugs at its launch in January to more than 700 generic drugs six months later. 

The researchers from the Program on Regulation, Therapeutics and Law at Boston-based Harvard Medical School and Brigham and Women’s Hospital identified 89 generic drugs for which they could compare prices between Mark Cuban Cost Plus Drug Co. and Medicare Part D plans.

If Medicare Part D plans matched Mr. Cuban’s prices for 77 of the 89 generic drugs, 37 percent of Medicare’s $9.6 billion 2020 drug costs could have been slashed, the study found. Twelve drugs did not cost less. 

The researchers found the best results with esomeprazole, a drug that treats acid reflux heartburn, which could have saved CMS up to $293 million if Medicare paid the same amount as Cost Plus Drug Co. Medicare paid $1.77 per pill. Cost Plus Drug Co. gets it for $0.19. 

Cost Plus Drug Co. sells its products with a $3 pharmacy dispensing fee, $5 shipping fee and a 15 percent profit margin. 

“Our sole mission is to be the low-cost drug provider for as many drugs as we can possibly offer,” Mr. Cuban told Becker’s. “That is counter to most business interests, particularly over a long period of time.”

‘Let’s get this done,’ Mark Cuban tells Biden on Medicare savings study (beckershospitalreview.com)

June 15, 2022, 9:20 AM

The U.S. Supreme Court said the federal government improperly cut more than $1 billion a year in Medicare reimbursements to hospitals in a ruling that limits regulators’ power to control what the program pays for some drugs.

The justices on Wednesday unanimously sided with the American Hospital Association in a clash over drug reimbursement rates for facilities that serve low-income communities.

Writing for the court, Justice Brett Kavanaugh said the Department of Health and Human Services improperly calculated reimbursement rates using a methodology Congress authorized only in limited circumstances.

The federal government said the rate cuts, which started in 2018, were designed to more closely track the cost to hospitals of acquiring the drugs.

But Kavanaugh said that under the 2003 law that expanded Medicare to cover prescription drugs, HHS generally must tie the reimbursement rate to each drug’s average sales price. The law lets HHS use a drug’s acquisition cost only if regulators have conducted a survey to determine what hospitals are paying, Kavanaugh said.

The government argued that HHS could rely on a separate provision that says regulators can make “adjustments” to rates.

The justices declined the Biden administration’s call to apply a legal doctrine known as Chevron deference. Under that approach, which some conservative justices have questioned, courts defer to federal agencies on the meaning of ambiguous statutes.

The case is American Hospital Association v. Becerra, 20-1114.

Supreme Court Sides With Hospitals on Medicare Reimbursement (1) (bloomberglaw.com)

Andrew Cass and Marissa Plescia – Thursday, June 9th, 2022

Atlanta-based Northside Hospital is the first health system in the nation to be fined by CMS for violating federal price transparency laws, CMS told Becker’s. 

Northside was fined more than $1 million, according to CMS. Northside Hospital Atlanta, the health system’s flagship facility, was fined $883,180, according to CMS. Northside Hospital Cherokee in Canton, Ga., was fined $214,320.

CMS said Northside Hospital Atlanta didn’t have a searchable list for consumers posted in a prominent manner that clearly identified the location of the hospital concerned, according to the report. CMS said “no consumer-friendly list of standard charges was found,” for Northside Hospital Cherokee. 

Northside told the Atlanta Journal-Constitution last year that the information required by the federal government would not actually be useful to consumers because it lacked context, according to the report. Prices paid by patients can vary depending on factors like insurance contract negotiations. 

CMS also said Northside didn’t include all required services in a machine-readable file, and services weren’t included in a single file, according to the report. 

As of early June, CMS has issued about 352 warning notices to hospitals that were found out of compliance with price transparency rules, which went into effect Jan. 1, 2021. CMS has also sent 157 requests for a corrective action plan to hospitals that received a warning and had not made any corrections. There have been 171 hospitals who have had their cases closed after addressing issues.

CMS told Becker’s the Northside hospitals received a notice and a corrective action plan request, but neither hospital submitted a plan, and both remained noncompliant.

“CMS expects hospitals to comply with the hospital price transparency regulations that require providing clear, accessible pricing information online about the items and services they provide,” Meena Seshamani, MD, PhD, CMS deputy administrator and director of the Center for Medicare, told Becker’s. “This enforcement action affirms the Biden-Harris administration’s commitment to making healthcare pricing information accessible to people across the country, and we are committed to ensuring that consumers have the information they need to make fully informed decisions regarding their healthcare.”

Atlanta system 1st in US to face CMS fines for price transparency violations (beckershospitalreview.com)

Becker’s Hospital Review by Molly Gamble

Americans aged 50 and older are feeling the pressure of healthcare costs, with 4 in 10 concerned about their ability to pay for care and others forgoing treatment altogether, skipping prescriptions or cutting back on daily living expenses to afford healthcare.

The findings come from a survey of 6,663 U.S. adults conducted by West Health and Gallup in September and October 2021. 

Increased use of general healthcare —driven by care deferred in 2020 that was provided in 2021 — may be driving up costs, leaving Americans finding the cost burden of healthcare more extreme than what they remembered pre-pandemic. At the same time, a fragile economy and rising consumer costs are intensifying the squeeze. Healthcare costs have grown at a rate double that of Americans’ incomes for decades, but inflation reaching a 30-year high and intensifying global supply chain shortages have households across every income bracket feeling cost pressures in new ways.

“Nearly two years into the COVID-19 pandemic, we are beginning to see the long-term impact on healthcare costs emerge,” the survey states. “Significantly worsening trends uncovered in recent months underscore the urgency of the U.S. healthcare cost crisis today and the dire projections for the coming years.”

“The growing burden of cost is coupled with worsening and widespread pessimism about any kind of solution or reprieve,” survey authors noted. “The power for change, U.S. adults report, lies in the hands of the U.S. Congress and with American businesses. There is also a shared expectation that costs will continue to climb in the year ahead, leaving Americans resigned to the idea that the burgeoning cost crisis — which is estimated to have claimed the lives of more than 12 million Americans this year alone — will persist.” 

Here are six key takeaways from the 31-page survey: 

1. The financial burdens of healthcare are especially palpable for Americans aged 50-64, who are old enough to experience health problems but too young to qualify for Medicare. Of this age bracket, 26 percent of survey respondents said they or a member of their household recently did not seek treatment because of its cost. Twelve percent of adults 65 and older said the same. 

2. Eighteen percent of Americans aged 50-64 and 11 percent of Americans aged 65 and older said they or a family member skipped prescribed medication in the last year to save money. 

3. A sizable minority of Americans aged 65 and older make daily sacrifices to afford healthcare. About 1 in 4adults in this age bracket cut back on at least one basic need to pay for healthcare, including reduced spending on food (9 percent), reduced spending on over-the-counter drugs (13 percent), cutbacks on utilities (6 percent) and reduced spending on clothing (19 percent). 

4. The financial stress and sacrifices to shore up money for healthcare was even more prevalent for Americans aged 50 to 64, with 3 in 10 forgoing at least one basic need. This includes reduced spending on food (14 percent), reduced spending on over-the-counter drugs (15 percent), and reduced spending on clothing (26 percent). Similar to the adults aged 65 and older, 8 percent of those aged 50-64 reduced spending on utilities to pay for healthcare.

5. Black Americans aged 50-64 are more likely than white Americans to report forgoing at least one basic need asked about in the survey (38 percent to 29 percent, respectively).

6. The growing burden of cost is coupled with worsening and widespread pessimism about healthcare. Nearly half of Americans (48 percent) report that COVID-19 made their view of the U.S. healthcare system worse. This percentage grows larger the younger the age group, with 58 percent of those under the age of 30 saying they feel this way compared to 38 percent of adults 65 and older.

Deferred care, inflation fuel mounting cost pressure for Americans’ healthcare (beckershospitalreview.com)

WILMINGTON, N.C. (May 19, 2022) – To support the Greater Boston biotech ecosystem, Thermo Fisher Scientific is joining forces with biotech incubator LabShares Newton to provide instruments, lab equipment and consumables to help early-stage life sciences companies accelerate their drug discovery efforts.

LabShares provides fully furnished lab space, services and equipment to more than 25 biotech companies, alleviating logistics constraints to help them bring novel therapeutics to market. Thermo Fisher will outfit the shared lab space with equipment including ultra-low temperature freezers, cell culture incubators, microscopes and PCR instruments.
 

“Thermo Fisher Scientific is incredibly excited to partner with LabShares in support of the emerging life science and biotech companies in Newton,” said Angela N. Hokanson, vice president, corporate accounts, Thermo Fisher Scientific. “In line with our mission to enable our customers to make the world healthier, cleaner and safer, we look forward to collaborating with LabShares and their members to innovate, validate and commercialize the next generation of life-saving therapies.”
 

“With little lab space available in historic biotech hubs such as Cambridge, emerging companies are looking to the suburbs for more accessible and affordable lab space,” said Jeff Behrens, CEO and founder, LabShares. “Working with partners such as Thermo Fisher allows LabShares to provide a caliber of equipment that smaller companies may not otherwise have access to, empowering promising biotech startups to hit the ground running.”
 

While investment in the biotech industry continues to climb, the high cost of bringing drugs through research and development to the market is limiting many early-stage companies from flourishing. By offering alternative lab space and more tailored support and resources, LabShares and its partners are helping emerging biotech companies clear hurdles that previously hindered growth for smaller companies trying to break through the market.

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About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

Molly Gamble (Twitter) – Monday, May 16th, 2022

HHS pledged to provide 60 days’ notice if it opts to end the COVID-19 public health emergency, leaving healthcare providers awaiting word on Monday.

The American Hospital Association and 15 other national healthcare organizations are calling on HHS to maintain the PHE. In a May 10 letter to HHS Secretary Xavier Becerra, the organizations cited the continued risk from COVID-19 variants, as well as rising case rates in the U.S. The organizations requested that HHS maintain the public health emergency “until it is clear that the global pandemic has receded, and the capabilities authorized by the PHE are no longer necessary.”

Congressional Republicans have been urging President Joe Biden and HHS Secretary Xavier Becerra to end the declaration for months, penning a letter to them in February to end the declaration of COVID-19 as a public health emergency. 

The Trump administration declared the coronavirus a public health emergency in late January 2020. HHS has continued to extend the declaration since; it is renewed for 90-day increments. The declaration was last extended April 13 with a deadline of July 15. HHS has said it will give states 60 days’ notice before terminating the declaration or allowing it to expire. 

For an overview of the flexibilities tied to the PHE and what occurs when the declaration ends, check out a comprehensive brief from Kaiser Family Foundation here. 

In collaboration with Med One

The complexities of equipment acquisition in the healthcare space are growing by the day. Broad contributing factors include geopolitical unrest, labor shortages, supply chain issues, inflation, and rising interest rates. Any one of these factors is challenging enough, but the combination of them all means a bumpy economic road ahead. Thus, wise business leaders and purchasing professionals will seek to be well informed and ready to utilize tools and strategies that can help navigate through these challenging times in a balanced and effective manner.

Why Equipment Costs Are Increasing

Inflation will likely be a reality for the long-term. What does that mean for supply chain managers? Over the next few years, the cost of just about everything may continue to rise at a much more steady pace than we’ve been used to for decades. The clear and simple reality that inflation creates for any business is this: Purchasing equipment and supplies will cost less today than it will next year, next quarter, or even next month. As the price of everything rises, the purchasing power of tomorrow’s dollars will continually diminish.

As of March 16^th, the Federal Reserve officially began the long-speculated process of raising interest rates. Many economists expect there will be 6-8 more increases over the next 12 months. These actions by the Fed are intended to counterbalance inflation, an approach that has proven effective in the past. However, the impact of rate hikes will surely have a slow-burn effect – over the course of months and likely even years, especially since current inflation is heavily influenced by the pandemic.

Typically, there is advance notice of pending action by the Fed, followed by a phase-in period by financial institutions. This means that while accessing capital or arranging for equipment financing will incur more interest cost over time, rate increases will be incremental. While short-term access to capital may not be a problem for many providers, others rely upon borrowing and direct financing options. In any case, a buyer seeking to use financing will find historically low rates in the near term, but with each succeeding Fed announcement, borrowing costs will continue to increase. Thus, there will be real cost savings for those who act sooner rather than later. Furthermore, financing equipment today has the double benefit of locking in current pricing AND current interest rates.

What You Can Do

1. Finance Equipment. A financial solutions provider can access capital funds on a customer’s behalf that will lock in today’s pricing and thus shield the end user from ongoing increases – even in the midst of lengthy supply chain delays. The shield comes in the form of fixed-rate payments. Assets acquired through financing are thus based on today’s prices and paid later with inflated dollars over a multi-year lease term. Most healthcare institutions in the United States have, in some way or another, utilized financing at some point to deal with things like capital budget shortfalls or to preserve cashflow.
2. Rent Equipment. Rental of critical care equipment has always been an important tool for hospitals in peak-need situations. During the pandemic, rental became a crucial means of quickly meeting equipment needs as patient census levels surged and then persisted for many months. As patient levels have dropped at healthcare facilities, demand for rental services has diminished as well. With providers now evaluating long-term equipment needs with shrinking capital budgets, equipment rental can address needs in the short-term and the long-term. Equipment rental remains an affordable avenue to acquire equipment.

Rental and financing solutions address two vastly different ends of the equipment acquisition spectrum in healthcare. As providers learn to utilize these tools more effectively in a complimentary manner, they can become invaluable solutions for navigating through challenging and even unpredictable economic times.

The Bottom Line

Rising inflation and interest rates are certain to erode margins and even feasibility for new equipment acquisition in the near and long term. A solid hedging strategy should include partnering with companies that provide rental and financing options to reduce the sting of inflationary pressure and help healthcare providers become stronger than ever.

Rising Equipment Costs & What Healthcare Providers Can Do About It (beckershospitalreview.com)