Health Czar’s Financial Ties to HealthCare

Posted on March 11, 2009 I Written By

John Lynn is the Founder of the blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of and John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

HISTalk did a great job summarizing what this writer found about the new health czar Nancy-Ann DeParle’s ties to healthcare.

According to this writer, new health czar Nancy-Ann DeParle has some deep financial ties to the healthcare industry she’s supposed to reform: (1) she is a managing director for an advisory firm whose affiliate converted a non-profit Idaho hospital to a for-profit; (2) as a Cerner board member, she was paid $195K in stock and cash and held around $1 million of CERN shares at the end of 2007; (3) she was on the board of Triad Hospitals and made $1.4 million on its sale; (4) she’s on the board of medical device maker Boston Scientific, paid $160K and holding $400,000 of stock at the end of 2007; (5) she’s on the board of dialysis vendor Davita, paid $194K and holding $1.8 million in shares in 2007; (6) she was on the board of specialty pharmacy vendor Accredo, now Medco; (6) she made money by selling Guidant shares when it merged with Boston Scientific; (7) she was on the board of Specialty Labs, Inc. and got 38,500 shares, which she sold. Maybe she can reform the system, but so far her talent seems to be in profiting from it. Not exactly the anti-insider that Obama said he wanted all around him.

I should mention that DeParle has resigned from Cerner’s board.  Smart decision.  I’m not really sure what to think of this list.  However, just reading through it gives me that kind of sick feeling that something doesn’t feel right.  Reminds me of my previous post aboutAllScripts CEO as Obama’s Healthcare advisor.