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UPDATE:White House Unveils $1B Health Info Technology Investment
Last update: 2/12/2010 2:10:08 PM
WASHINGTON (Dow Jones)--The Obama administration unveiled an almost $1 billion investment in health-care information technology Friday, money it says will help train workers for new jobs and let doctors and hospitals adopt cost-saving technologies.
"These grant awards, the first of their kind, will help develop our electronic infrastructure and give doctors and other health care providers the support they need as they adopt this powerful technology," Secretary of Health and Human Services Kathleen Sebelius said in a statement.
The White House said the awards will help more than 100,000 hospitals and primary-care physicians access health IT by 2014, and train thousands of people for new careers.
Most of the new funds--over $750 million--will be granted by HHS to help providers use electronic health records to cut costs and eliminate paperwork.
Around $386 million of the HHS money will go to 40 states and "State Designated Entities," while $375 million will go to 32 non-profit organizations to support the development of regional extension centers.
Those centers, the White House said, are expected to provide outreach and support services to at least 100,000 primary-care providers and hospitals within two years.
Promoting the use of electronic records and other new technologies is part of the administration's broader health-care agenda. Sebelius said that currently just one-fifth of doctors and one-tenth of hospitals employ basic electronic health records.
In using recovery act funds to boost health-care IT, the White House also is hoping the effort can help ease the nation's 9.7% jobless rate. Jared Bernstein, Vice President Joe Biden's top economic adviser, said the health-care sector added jobs every month of the recession, making it an attractive destination for stimulus money.
More than $225 million of the new grants will be awarded by the Labor Department to train 15,000 people in new skills. Labor Secretary Hilda Solis said she expects that 10,000 of those workers will have jobs lined up when they finish their training projects.
"The organizations receiving the funding are partnering with local businesses and other groups to make sure that the workers who enroll in their programs have jobs awaiting for them when they complete training," Solis said on a conference call with reporters. "These high-growth jobs offer good pay, benefits and opportunities for advancement."
ha ha Bob - we do know that you get very excited every Friday afternoon - during the power hour (3-4)!
Good accumulation going on.
Cheers.
Let's see how they (MMs) will walk this one up today!
This is the part I like in this news article ...
“We are very excited about the results of our previous validation study and look forward to achieving the same success in this final validation," said Stephen D. Barnhill, M.D., Chairman and CEO of Health Discovery Corporation. “If we are successful in finding the molecular signature in blood as we were in tissue, HDC will have both a tissue-based colon cancer test to be used on biopsy specimens as well as a blood test which can be used as a screening test for colon cancer,” said Dr. Barnhill.
It sure is a sleeper! One to put it away and watch it grow.
The scope of the projects that this company can pursue keeps getting bigger ... stay LONG - accumulate all dips.
Once they start pushing SVM into other industries besides the drug industry ... watch out!
Yesterday's dip and bounce off .28 cent area was healthy for the stock.
I saw a lot of buys go off as it dipped.
Looks like Sat. conference was a non-event and probably disappointed some new short-term holders.
Those who have done their Due Diligence know that this is a long term hold.
To sustain upward momentum, this stock needs to stay above .28 and .25 or else it will go right back to the .20 area.
Another key point to remember - they hired a former Goldman Sachs VP (makes you wonder why a GS VP would join a small company) - to sell their SVM technology to several new industries. So, think about the potential cash flow revenues once they get this rolling.
Hold onto your shares and sock it away and watch it grow.
If you need immediate returns, this is not the stock to be in.
Cheers.
... and magically they might make the market close positive.
And you wonder
Yes - slowly but surely ... this little company will become a giant.
Good points renmanaz.
This is a LONG term hold.
There are so many other equities to trade. This one does not belong in that category, imo.
For even better results, put this away in IRAs and let it grow.
SVM is a core asset for this company.
Yes Bob. I know you and I have been accumulating and have been pounding others to accumulate all dips - for a while!
With each passing day, and with this growing news momentum that Chazzy alluded to earlier from his conversation with Tobin, more folks will realize and end up paying a premium.
Today's bullish market and the weekend's conference should continue to sustain this upward momentum.
I Agree Bob. This drop closes the gap and hopefully got rid of the daytraders who were expecting a spike.
Thanks for confirming gary.
What's interesting about this news release - is something I had not noticed before - this news ALSO shows up under Abbott and Quest. This should attract even more folks from the investment community - the deep pockets that invest in those giants.
I do not recall if earlier news releases also showed up under Abbott & Quest.
oh no! That hurts.
Best wishes to you "tryn2makamil".
Yes, SVM is the "crown jewel" of this company and will continue to play a pivotal role in its future - as this company expands into new industries.
This is just the beginning...
The news momentum continues - which is good.
Good news ... I was about to post it - you beat me to it Thanks.
I liked these parts of the release ...
Health Discovery Corporation will own all of the intellectual property and commercialization rights to these newly discovered molecular diagnostic tests for pancreatic cancer and HDC intends to immediately partner with a large clinical laboratory for development, marketing and commercialization of these tests.
The power of SVM will help this little company enter into more new cash flow streams!
That is interesting! With this kind of high volume, makes you think that the float is indeed drying up - good for us.
Let the squeeze begin.
Thank you "dayneyus" for sharing that tidbit.
The rumor that was floating around during the conference referenced some kind of test announcement with yet another company.
That kind of expectation should create a nice sustained run ... into the weekend - and with more folks (hopefully more institutional funds) entering after Saturdays investment conference, I am expecting a nice pop on Monday.
That is the plan - but we all know how it turns out!
Cheers.
Ha ha - I know you are waiting to change your profile name - to something like "HDVY&myMillions" or "MademyMillions"
Yes nice - bullish close - on heavy volume 7mm.
Some folks are doing some serious accumulation ... buys going off the ask in big chunks
Yes - they do that .... to trick us - good observation. The A/D line is showing accumulation.
Yes - This little company leads the way in Personalized medicine.
Chart is looking nice... bullish!
Can expect more "investment community" folks from Sat Feb 6th conference to start accumulating on Monday 8th.
This is interesting - on how Norris is playing a role in HDVY.
He is now the COO and they are using his FDA background to help guide new policies regarding the future of Personalized Medicine ... this bodes well!
Personalized medicine Conference Feb 22-24, Philadelphia.
Both Norris & Barnhill will be attending.
Their speech is about ...
9.10 Bridging the Gap to Personalized Medicine: An FDA-Reform Managerial and Scientific Look at Regulations, Partnerships, Tools and Implications
John A. Norris, JD, MBA
Former Chief Operating Officer
FDA
Chairman and Chief Executive Officer
Norris Capital, Inc.
Chief Operating Officer
Health Discovery Corporation
-----------
Stephen Barnhill, MD
Chairman and Chief Executive Officer
Health Discovery Corporation
www.personalizedmedicinepartnerships.com/index.php?option=com_content&view=article&id=22&Itemid=29
Barnhill's trip to CA and other places is helping his company get on the radar of the investment community.
This is in sync. with what Tobin said to Chazzy earlier...
Stay Long and prosper!
VRML and SVM will keep repeating in more future PRs - to educate others where this company is going.
Good for us!
Degreed - Nice to see that - we are slowly getting more visibility.
Just came online... woohoo ... let's go higher
Awesome research ... thank you Chazzy for sharing that information!
It is good to know that Norris is still with the company.
Tobin's confirmation that investment bankers are interested is excellent news - that could explain the big volume we saw in the past couple of days.
This is just the beginning.
Good article - slowly the awareness of this company spreads.
Interesting to see how they add in Vermillion to gauge price action.
Thanks for sharing.
Yes. Besides the several biomarker based tests that we are waiting on results, I feel that SVM will be this company's core asset - one of the earlier PRs had alluded to using this in a wide range of industries.
This is the Information Age. Using these kinds of tools will really help.
Some interesting info on SVM (for those who are new here...) - from yahoo msg board
Vladimir Vapnik co-invented SVM (Support Vector Machines) with Dr. Guyon.
As biotechnology forges into proteomics (study of proteins) and genomics (study of genes), there must be a manner to handle inputs of tens of thousands of genes and hundreds of thousands of proteins. SVM's are precisely that. SVM's can handle pattern recognition in, essentially, infinite dimensional space. SVM technology is expected to propel genomics and proteomics research (and other areas) in which high-dimensional pattern recognition is required. SVM technology is a successor to neural networks of which, Dr. Barnhill is an inventor of some early neural networks and patents. Such data analysis biomarkers can revolutionize discovery.
HDVY owns the pioneering patents in the use of SVM technology. HDVY holds the early priority dates on both issuance and filing of the original patents on SVM technology. The newer patents by filed by other companies are more specific and narrow claims than what HDVY holds and many of them will probably have to license HDVY’s patents to use theirs.
Health Discovery’s potential to effectively license and market the SVM technology is aided by the fact that its scientific team includes both Dr. Guyon and Dr. Vladimir Vapnik
some links
www.aporc.org/LNOR/11/OSB2009F32.pdf
pubs.acs.org/doi/abs/10.1021/pr900397n
www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6V15-4WPJ5X3-2&_user=10&_coverDate=12%2F01%2F2009&_rdoc=1&_fmt=high&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=1189065460&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=c48ac9a4c00dd7a8368cfee095f14aae
That was a silly comment made by some Yahoo msg board poster.
Besides, I do not trust anything from a broker!
Next few days action will show if someone was indeed accumulating - or they used this pop to unwind.
Chart looks ready for the next leg up.
This happens all the time.
We are just small fries - in this battle with the giants.
Can only hope for small crumbs.
My gut feel is that someone with deep pockets is holding the ASK so that they can accumulate - either the Hedge fund is doing it on its own or working with the MM and accomplishing that objective.
Once that is done, this should take off.