Morning Headlines 5/1/13

Texas lawmaker introduces bill to ban ICD-10 implementation

Rep. Ted Poe (R-Texas) introduces H.R.1701, "Cutting Costly Codes Act of 2013," which would prohibit HHS from replacing ICD-9 with ICD-10. The bill has no co-sponsors and has been referred to the Committee on Energy and Commerce and the Committee on Ways and Means for further consideration.

Nuance shares sink on profit drop

In Q1, Nuance’s net income drops to $110.4 million, down from $138.8 million last year. EPS $0.34 vs $0.43. Shares dropped 19 percent by the close of trading Tuesday. The company also announced a $500 million share buyback plan today as hostile corporate takeover specialist Carl Icahn continues to build his stake in the company, which now stands at 10.7 percent.

Case study: Breach increases risk of fraud

A case study examining the 2012 Utah Department of Health data breach that compromised 780,000 individuals found that in 2010, one in 10 individuals who received a data breach notification became a victim of fraud, but that in 2012, that number jumped to one in four.

Senators urge Obama to help resolve veterans claims backlog

A bipartisan group of 67 senators sent a letter to President Obama asking that he take direct action in resolving the VA’s backlog of veteran disability claims.