The federal government has approved Maryland’s Total Cost of Care All-Payer Model. The state has been testing the plan to control health care costs by keeping patients healthier and reducing errors and readmissions over the past four years, saving Medicare $586 million in the first three years alone. Read more at Carroll County Times.
The Baltimore-based University of Maryland School of Medicine has acquired $20 million from biotech inventor and entrepreneur Robert E. Fischell for the Center for Bioengineering Innovation. Funding will go toward constructing the center and the 450,000-square-foot Health Sciences Research Facility III to further biomedical engineering education and promote new treatment-based technologies and devices. Read more at Technical.ly Baltimore.
The 2018 Preakness Stakes has caused a record-high in Airbnb reservations with 2,300 guest arrivals booked on Saturday, the day of the 143rd race. Almost 1,000 Baltimore residents will house visitors this coming weekend, and Airbnb expects service users to make more than $372,000 in the next few days. Read more at The Daily Record.
Baltimore Corps, a social innovation nonprofit, received its largest private donation of $500,000 from the Shelter Foundation. The gift will help promote the nonprofit’s programs and services to support social innovation and address equity and racial injustice in the city. Read more at the Baltimore Business Journal.