How Does the Enterprise Performance Management Process Work?

Serving as the chairman of Cambridge Therapeutics in Alpine, NJ, John Klein has more than two decades of executive experience in the healthcare and pharmaceutical industries. In addition to leading Cambridge Therapeutics, John Klein recently founded a new firm in Alpine, NJ, called Bilogix.

A company that provides enterprise performance management (EPM) services, Bilogix helps business clients attain maximum efficiency and boost profits. Using a complex approach to operations analysis, the EPM team reviews details such as budgets, sales forecasts and reports, and accounting information to determine ways in which a firm can enhance its performance and eliminate the waste of resources. The goal of EPM is to ensure that businesses have the data and knowledge they need to make optimal operational decisions that promote continued growth and long-term sustainability.

A large part of the EPM analysis deals with a company’s technological capacity. As cloud computing becomes more pervasive, smart institution leaders are adopting this and other advanced technologies to increase their flexibility and stay relevant.

Funding and Interest in New Jersey Hospital Housing Initiative Grows

Healthcare industry executive John Klein serves as the chairman of Cambridge Therapeutics in Alpine, NJ. In his supervisory role at Cambridge Therapeutics, John Klein sets the strategic direction for the company and remains familiar with new political and community developments affecting healthcare.

A new initiative that promotes the addition of affordable housing in the neighborhoods around New Jersey hospitals has received more funding and support than previously expected.

The executive director of the New Jersey Housing and Mortgage Finance Agency (HMFA), Charles Richman, originally announced that the project would receive $12 million from the organization. However, hospitals are matching the capital awarded by the HMFA, thus boosting the total to a minimum of $48 million. On top of that, Richman believed the state would fund only three or four alliances with medical facilities. However, at least six hospital-housing partnerships will be established by 2020, and the HMFA is hopeful this amount will increase to eight.

The first venture backed by this initiative is being completed on a vacant lot in Paterson. Resulting from a partnership between the HMFA and St. Joseph’s University Medical Center, the project is a 70-unit development that will feature one- to three-bedroom apartments. These units will largely be reserved for low-income residents, many of whom can benefit from hospital services.

Home Health Care Agencies Face Nurse Shortage

An accomplished pharmaceutical executive with more than 20 years of industry experience, John Klein serves as the chairman of the Alpine, NJ-based Cambridge Therapeutics. In addition to his responsibilities at Cambridge Therapeutics, John Klein actively follows health-related news affecting NJ.

Home healthcare agencies in NJ recently warned of a future shortage of private duty nurses (PDNs) in the state. Pointing to lower-than-desired Medicaid reimbursement rates, agency representative said that they are experiencing difficulties recruiting qualified nurses for home-based services. PDNs provide around-the-clock care for medically complex patients in their homes, sometimes tending to individuals who are cognitively impaired or born with congenital defects.

Licensed as either a registered nurse or a licensed practical nurse, PDNs are paid through Medicaid reimbursements, making it hard for them to earn as much as their hospital-based counterparts. More than a decade has passed since the last Medicaid-reimbursement increase.

According to an internal study by BAYADA Home Health Care, the home healthcare industry attracts only 17 percent of registered nurses and 40 percent of licensed practical nurses, leaving many patients without the nursing care they need.

Bergen New Bridge and Horizon BCBS Announce Partnership

The recipient of a master of business administration from Roosevelt University, John Klein serves as the chairman of Cambridge Therapeutics in Alpine, NJ. In addition to guiding Cambridge Therapeutics’ strategic direction, John Klein closely follows health-related developments in NJ.

Recently, the state’s largest hospital, Bergen New Bridge Medical Center, and NJ’s biggest insurance company, Horizon Blue Cross Blue Shield (Horizon BCBS), announced the formation of a new partnership. In July 2019, NJ Governor Phil Murphy joined representatives from Bergen New Bridge, Horizon BCBS, and Bergen County to celebrate the alliance, which is expected to increase access to multiple healthcare services for local residents.

The new agreement will enable Bergen New Bridge to accept insurance for approximately 230,000 Horizon BCBS members in Bergen County and others whose plans were previously denied. Governor Murphy praised the cooperation, stating that expanding access to the addiction-rehabilitation program and other means of aid at the hospital will help fill treatment gaps in the state.

NJ Announces Program to Fund MAT Training for Medical Professionals

An alumnus of Roosevelt University with a BS and an MBA, John Klein serves as the chairman of Cambridge Therapeutics in Alpine, NJ. Aside from providing experienced leadership to Cambridge Therapeutics, John Klein closely follows developments in NJ health policy.

To fight the opioid addiction crisis, New Jersey recently introduced a program that will train hundreds of additional health care professionals in medication-assisted treatment (MAT). Considered the best treatment approach for opioid addiction, MAT combines outpatient counseling and treatment services with medication, usually buprenorphine, which works to block cravings and the high associated with heroin and other opioid use.

In partnership with medical schools in Camden and Newark, the NJ Department of Human Services will help physicians, advanced practice nurses, and physician assistants obtain the required training and federal certification to administer MAT to patients, allocating $2 million in funding. The New Jersey State Nurses Association and the Medical Society of New Jersey praised the state’s initiative to combat the opioid epidemic and increase capacity for addiction treatment in NJ.

New Jersey Department of Health to Improve Long-Term Care

 

Drug Pricing in New Jersey Made More Transparent

Pharmaceutical executive John Klein serves as the chairman of Cambridge Therapeutics in New Jersey. In this capacity, he leverages more than two decades of experience in the pharmaceutical industry to set Cambridge Therapeutics’ strategic direction. To enhance his experience, John Klein stays abreast of state news that relate to the field.

A bill sponsored by Senator Troy Singleton was recently approved by the New Jersey Senate health committee that would bring more transparency to pharmaceuticals marketed and sold in the state, thus helping Garden State residents reduce their medication expenses.

Over the last several years, the rising costs of medication has become a major concern for many Americans. Reports from the New Jersey Health Care Quality Institute stated that drug prices rose 27 percent between 2012 and 2016, while overall healthcare spending only rose 18 percent in the state and 15 percent nationwide. Subsequently, Garden State hospitals have had to double budgets for pharmaceuticals between 2008 and 2017, as well as increase per-patient costs by an average of 132 percent.

Under the proposed bill, a public website would be created that listed specific drugs, along with information about their generic status, brand, and dosage. The per-unit wholesale cost of the medication would also be included on the website. Furthermore, pharmaceutical manufacturers and marketing agencies will be required to submit quarterly updates on pricing details to the State Board of Pharmacy. Companies that fail to do so will be fined between $200 and $20,000.

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