Word: audits
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About 12 million U.S. workers have a stake in union welfare funds, totaling some $17 billion and theoretically set up to provide pensions, medical care and other benefits for members. Last week New York's State Insurance Department, making a fast public audit of a dozen-odd union funds at hearings in Manhattan, proved that some union officials are firm in the philosophy that benefits should begin with the guardians of the funds. Samples...
STEELWORKERS' FINANCES are in the best shape ever, as the union negotiates with the steel companies. Semi-annual audit shows an increase of almost $2,000,000 in the kitty as of Dec. 31, and a new total net worth of $15.8 million...
...senate insurance committee in the last legislature (which blocked reforms in Texas insurance laws), present the $436,000 appraisal to the insurance commission. Over a three-year period, Texas Mutual paid State Senator Moore $13,000. A state insurance examiner, said the court, performed "a specter of an audit" on Texas Mutual books but found nothing wrong, and the examiner later received $300 in cash from Paul Lowry. When Texas Mutual failed last year, it brought down three other Lowry insurance companies with it. Texas Mutual alone wrote 38,000 policies, and now it owes...
...Chicago's Grant Hospital one morning last week, half a dozen physicians gathered for the regular meeting of their medical audit committee. The meeting, like those over the past five years, was devoted to a businesslike examination of the hospital's medical records of the week. In perhaps the most important part of the session, the doctors considered the "tissue reports" of the pathology department. Their main concerns: 1) to see whether parts of the body removed by surgery were really diseased, 2) to see to what extent preoperative diagnosis had been confirmed by surgery...
...name or another, medical audit committees and tissue committees are becoming common in U.S. hospitals. The American College of Surgeons has been recommending them for a dozen years, and in 1952 the Joint Commission on Accreditation of Hospitals* ruled that no hospital may be fully accredited that does not maintain some such systematic review of surgery. Now, the commission reported this week, 3,418 of the 7,500 hospitals of the U.S. and Canada have systems that qualify...