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WEDNESDAY, SEPT. 20, 2017 | IN THIS ISSUE
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Shane Cerone, Mercy's newly appointed interim CEO, said that in
order to improve the hospital's operating and financial performance, 65 full- and part-time positions will be eliminated or see a reduction in hours. Another 50 positions vacated through retirements or normal attrition will remain vacant.
"Due to the challenging health care environment and the competitive Iowa City market, Mer
cy Iowa City, along with support and resources from Mercy Health Network, is making changes to improve our operating and financial performance." M
r. Cerone said in a statement. "After careful consideration, the difficult decision was made to rebalance our workforce."
Mr. Cerone added that the hospital would work to provide support and assist
ance to impacted employees. He stressed that Mercy is among the highest performing hospitals in the nation in terms of quality with high patient satisfaction scores and a five-star rating from the Centers for Medicare and Medicaid Services over the last two years.
Mercy's cutbacks come four months after the hospital announced it had entered a strategic affiliation agreement with Mercy Health Network, a Catholic health network of 42 hospitals and 207 clinics throughout Iowa. An earlier proposed deal with UnityPoint Health fell through this past spring due to "industry challenges."
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 Iowa Stopgap Measure moves closer to federal approval
The letter of completeness moves the stopgap measure forward toward final approval.
"We appreciate the Trump Administration's commitment to state flexibility and providing relief from the ACA," Iowa Insurance Commissioner Doug Ommen stated in a press release. "We look forward to swift approval by the administration after the federal comment period closes so the Iowa Stopgap Measure can be ready for the 2018 open enrollment period starting November 1, 2017."
The Iowa Stopgap Measure was formally sent for approval Aug. 21 to the U.S. Department of Health & Human Services and the U.S. Department of Treasury. Iowa's Stopgap Measure is short-term solution aimed at addressing the state's collapsing ACA marketplace. The measure would provide consumers with age- and income-based premium credits while utilizing a reinsurance mechanism to keep premium costs down.
This letter from the CMS triggers the beginning of a 30-day federal comment period regarding the Iowa Stopgap Measure. Iowans are encouraged to submit comments regarding the measure to CMS Administrator Seema Verma and Center for Consumer Information & Insurance Oversight (CCIIO) Director Randy Pate by email at
[email protected]. They should include their name, organization (if any), and email address, along with "Iowa Section 1332 Waiver Comments" in the subject heading.
Information about the Iowa Stopgap measure is available online at
https://stopgap.iowa.gov. Insurers Medica, Wellmark Health Plan of Iowa, Wellmark Value and Wellmark Synergy have all submitted forms and rates to offer plans through the Iowa Stopgap Measure.
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For the complete list of this week's Movers & Shakers, see the Sept. 18 edition of the CBJ.
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Brandon Lovested (left) and Jay Hamilton (right), of Optimum Fleet Health, accept a check for $500 as winners of the PitchLab competition.
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Hundreds of entrepreneurs, innovators and funders from around the state traveled to the Corridor for an afternoon of pitches and networking yesterday as part of the Entrepreneurial Development Center's seventh-annual Innovation EXPO.
Held at the Coralville Marriott, the event opened with two pitch sessions: the PitchLab, for early-stage companies, and the Seed and Venture Forum, for more established firms. Sixteen Iowa busineses pitched their concepts to panels of expert judges for feedback and the possibility of securing funding.
Startup
Optimum Fleet Health won a $500 grant from the Iowa Innovation Corporation as the winner of the PitchLab competition. The Davenport-based company aims to provide predictive fleet health reports to transportation companies based on telematic data. Optimum is now entering a trial with a major manufacturer of OEM diesel engines, and has struck a partnership with Geotab, a creator of open-source fleet management software.
"We can call out problems a week in advance before they become problems," COO Brandon Lovested told judges.
Eight firms presented and received feedback as part of the Seed and Venture Forum, including four Corridor-based businesses: SnyderBio, GOVRED, WatchPoint and Ruminate.
The expo ended with an Entrepreneur Showcase, which featured more than 85 companies and service providers from around the state, including areas highlighting innovations from the University of Iowa's
UI Ventures program, students from Iowa BIG and local inventors.
"We brought in quite a few folks from outside the Corridor, from as far away as Sioux City and Ames," said EDC Marketing Director Christie Remley. "Every year we try to broad the reach of it, since it's a statewide event."
Read more about the companies and ideas on display at the Innovation Expo in this week's Small Business newsletter, and next week's edition of the CBJ.
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Agri-Industrial Plastics teams with Red Cross to help Irma
victims
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Agri-Industrial's Terry Drish prepares plastic bins for distribution to Hurricane Irma victims. PHOTO Agri-Industrial Plastics
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Plastic containers made by Fairfield-based
Agri-Industrial Plastics Co.
will be distributed by the Red Cross to victims of Hurricane Irma in Florida as they begin to clean up and rebuild.
The plastic bins will be used for sorting belongings in flooded homes and for safely storing possessions in shelters
"After witnessing the devastation in Florida left by Hurricane Irma, we felt compelled to help," Agri-Industrial President Lori Schaefer-Weaton said in a statement. "Through our association with [the Society of Plastics Engineers], we partnered with other members, one of our customers, and one of our suppliers to manufacture the plastic totes. It was a privilege to partner with our friends
-and the Red Cross
-to provide assistance for some of those who have lost so much."
Founded in 1978, Agri-Industrial Plastics Co. is a leading industrial blow molder of large parts including non-automotive fuel tanks for the recreational equipment, lawn and garden, agricultural and watercraft industries. The company has a 354,000-square-foot manufacturing facility in Fairfield.
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Get it first here
Forward the FREE CBJ Business Daily newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters
here, or check out our other subscription options
here.
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Short-Term Event Planner
Sept. 21
Open Coffee, by Washington Chamber of Commerce, 8-9 a.m., Café Dodici, 122 S. Iowa Ave., Washington. This event is open to the public and anyone interested in an open discussion about fostering creativity, innovation, and entrepreneurship in the Corridor is encouraged to attend. Free. Call (319) 653-4712 for more information.
BizMix: Premier Investments, by Cedar Rapids Metro Economic Alliance and Marion Chamber, 4-6 p.m., Premier Investments of Iowa, 3600 First Ave. NE, Ste. 100, Cedar Rapids. BizMix brings together area professionals for casual networking over complimentary hors d'oeuvres and cocktails, and is hosted by a different member business each month. Free for members, registration not required. For more information, call (319) 398-5317.
Vault Labs Monthly Meetup, by Vault Coworking & Collaboration Space, 7-8 p.m., Vault Labs, 415 12th Ave. SE, Cedar Rapids. Come to the Vault Labsand geek out on all things tech, including 3-D printing, electronics, fabrication, VR and AI. Show off what you're currently working on or scheme about your next project. Free. For more information, visit bit.ly/2v3dELl.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28
An article in the
Wall Street Journal gives Cedar Rapids high marks for its 2008 flood recovery efforts, and says Florida and Texas could learn some valuable lessons as they struggle to come back from hurricanes Irma and Harvey. Mayor Ron Corbett said it's great publicity for the city and details the quick response to clean up, rebuild, secure adequate housing for those displaced and focus on helping small businesses. He added that it's only fair cities like Houston should benefit, since Cedar Rapids examined what was learned after Hurricane Katrina in New Orleans. The story also focuses on NewBo City Market and the neighborhood surrounding it as a shining light in the recovery. NewBo business owner Steve Shriver says it's very difficult to hear people say that the flood may have been the best thing to ever happen to Cedar Rapids, but added that there's no denying that it helped the city accomplish nearly 25 years of progress in about five years. Mr. Shriver also noted that not everyone was included in the recovery, however, and some are still struggling today.
T
hese news items are provided by CBS2/FOX 28
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CBS2 Chief Meteorologist Terry Swails' Weather First Forecast
It's summer in September! A cold front is moving through the area today and will lead warm, mugginess and scattered showers and storms. With a mix of sun and clouds, temperatures will climb into the low to mid 80s and humidity will be creeping up. After 1 p.m., a few scattered showers and storms will move across the area from northwest to southeast. Rainfall totals will be light between 0.10 to 0.20 inches. The front will stall out near I-80 and will lead to a few scattered showers and thunderstorms through the night. A few showers may linger into the morning as the front lifts back to the north and warmth continues through the end of the week.
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