Sweeney Among the Florence Nightingales: Wireless Health Pioneer Jim Sweeney Customizes iTouch for Patient Care

10/6/11Follow @bvbigelow

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“meaningful use” requirements for adopting electronic health record systems. “The dollars associated with having meaningful use and the penalties for not having it are sucking up a lot of dollars and a lot of attention,” he says.

Sweeney, who has close to 50 years in healthcare, says he also is expecting what he calls “a free-fall” in private insurance reimbursement rates. Sweeney says he meets with hospital CEOs throughout the country, and what they’re telling him is far from comforting.

“What everyone believes is that there’s going to be a precipitous fall in [healthcare insurance] reimbursement rates in the next 24 to 48 months,” Sweeney says. He expects private insurance reimbursements will normalize near current Medicaid reimbursement levels, which means a drop of 50 percent or more—just as a rising tide of baby boomers are demanding increased healthcare by virtue of their numbers.

“Every single [CEO] says they have to take at least 25 percent out of their costs,” Sweeney says. That should create opportunities for PatientSafe by providing technology that hospitals can use to lower their costs by operating more efficiently. Nevertheless, he says, “The challenge really for us is just getting the attention of people who make these decisions. We need to get better at being exposed to hospitals in a short period of time.”

As a result, PatientSafe has been looking for sales partners and consultants that could help the startup gain broader access to key hospital executives.

“The bad news is that hospitals are in the dark ages” of information technologies, Sweeney says. “The good news is that hospitals are in the dark ages.”

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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  • http://louden.net Teri Louden

    Bruce,
    Just read your article on Jim and wanted to give you a big thanks for recognizing his leadership of the wireless healthcare industry, and even moreso, his amazing medical entrepreneurial leadership! I have known Jim for years and had the pleasure to work with him both as a consultant and then as one of the early members of the CardioNet senior management team…I was the one who went to Philadelphia to launch our 24/7 monitoring and service center and took the first patients. Came back to San Diego to work with Jim on more fundraising and business development for CardioNet. I consider working with Jim one of the highlights of my long career in healthcare. He is not given the recognition due enough, so I was so excited to see your article!

    Teri Louden
    President
    The Louden Network
    1520 1st Street, #L302
    Coronado, CA 92118
    cell: 619-894-8374
    connect@louden.net
    http://www.louden.net
    Thinking Differently About Healthcare®
    Time For Balance®
    http://www.TimeForBalance.com

  • http://www.portablegenomics.com Patrick Merel

    Congratulation Jim and Joe, for your achievement in the wireless healthcare community ( i fully agree with Teri’s comments) and for the concept behind PatientSafe.

    I love the “Apple of Wireless health” mantra as we hope ourself to reveal soon Portable Genomics concept, as the “Apple of Wireless Genomics”. ;-)

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  • http://www.facebook.com/james.kasanos James Kasanos

    Man fuck jim sweeney bitch ass is a piece of shit james kasanos jr. Says so

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