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Healthcare industry sitting on ticking time bomb of web application attacks

Healthcare organizations were hit by an average of nearly 500 web application attacks every month in 2020, according to an Imperva report.

Teladoc projects 2020 revenue doubling to $1.1B

CEO Jason Gorevic expects sustainable long-term growth for the company, with 30% to 40% average annual revenue growth expected through 2023, he said Monday at the J.P. Morgan health conference.

Healthcare CFOs see fresh wave of M&A in 2021, BDO survey shows

Financial distress, a desire to expand into new service lines and efforts to close infrastructure gaps are expected to fuel deals, according to the consultants.

CMS audits small slice of hospitals for price transparency, probes complaints

Compliance is "frustratingly incomplete," said Niall Brennan, CEO of the Health Care Cost Institute. A paltry $300 daily fine may not be enough to force facilities to reveal the information. 

Opinion

Care navigation during COVID-19 and beyond

The industry needs to quickly come up with a way to prevent and mitigate enduring health issues for COVID-19 survivors as well as catch up on deferred care for other conditions, Harvard Medical School's Sanjay Basu argues.

Supply chains struggle to procure nitrile gloves after manufacturer shutdown

MSC Industrial reported an impairment charge for a prepaid glove order that has still not been delivered, in another example of how the pandemic has challenged procurement teams. 

Tennessee approved for first Medicaid block grant program

The waiver is approved for 10 years. The incoming Biden administration could attempt to roll it back, but the state would be able to challenge such a move.

CommonSpirit inks letter of intent to sell Essentia 14 mostly rural hospitals

The giant nonprofit system is in talks with the Minnesota-based system to unload a 286-bed hospital in North Dakota and 13 other critical access facilities.

Wall Street paints rosy 2021 for medtech as electives snap back

After economic challenges throughout 2020, sell-side analysts predict procedure-dependent companies like Medtronic, Abbott and Zimmer Biomet to outperform this year as procedure volumes return.

CommonSpirit's CHI Franciscan finalizes tie-up with Virginia Mason

The two Washington state health systems will operate as Virginia Mason Franciscan Health, now a subsidiary under one of the nation's largest nonprofit health systems, CommonSpirit Health.

HHS finalizes regulatory review rule, though more lenient than proposed

When pitched in November, the idea sparked concern among providers and other groups fearing it would inject more uncertainty into the industry, and heap additional administrative burden onto HHS.

AHA to HHS: Feds need to take charge in COVID-19 vaccine rollout

The plea coming less than two weeks before the Biden administration takes over suggests the urgency. "As this rollout rapidly evolves, it is absolutely critical that effective situational, real-time leadership is provided nationally."

With Democratic trifecta, Biden could shore up ACA

"A lot can be done with a simple majority vote in the Senate," Kaiser Family Foundation's Larry Levitt said on Twitter.

After trial and error, providers weigh virtual care offerings to fit post-COVID-19 needs

The survey of 277 provider, payer and employer organizations from Klas Research found almost a quarter of respondents are actively looking to replace their platform or feel unsatisfied but stuck with it.

UnitedHealth's Optum to buy Change Healthcare in $13B deal

Change Healthcare CEO Neil de Crescenzo will become chief of OptumInsight after the deal closes in the second half of the year.

Kaiser Permanente ranked No. 1 in consumer satisfaction, Insure.com finds

An October survey of 2,200 consumers found a majority were generally pleased with their plans and would recommend it to others, despite 2020's historic healthcare uncertainty.

Not enough time, not enough clarity: Payers push back on CMS prior authorization rule

Following publication on the Federal Register, industry groups had only 17 days to review the rule and draft comments — a major source of concern, insurers said.

Promedica appeals after judge blocks canceled insurance contracts with rival McLaren

The Ohio system's move comes after a federal judge noted the Supreme Court said if a company is "'attempting to exclude the rivals on some basis other than efficiency,' it is fair to characterize its behavior as predatory."

Medicaid expansion could help hospitals financially recover from pandemic, Health Affairs study suggests

Hospitals in states that expanded the safety net program under the Affordable Care Act on average saw lower uncompensated care costs and higher Medicaid revenue compared with those in states that have not, researchers found.

FDA says changing coronavirus vaccine dosing could put 'public health at risk'

In an unusual statement, FDA chief Stephen Hahn and top official Peter Marks opposed altering vaccination regimens without further evidence, calling proposals to do so "premature."

Envision cut from UnitedHealthcare's network

The physician staffing firm has a significant footprint, with 25,000 clinicians in 44 states and D.C.

Fanfare then fizzle: Amazon, JPM, Berkshire shutter Haven after 3 years

The entity is closing without delivering on its promise of disruption, hinting at the difficulty of reforming the complex insurance market and rising costs in the massive, entrenched healthcare industry.

UPDATED: Jan. 5, 2021 at 9:32 a.m.

Healthcare cyberattacks spiked 45% since November, report finds

While most ransomware has a broad sector target, Check Point found Ryuk is tailored toward targets in the healthcare industry.

Centene's $2.2B deal for Magellan adds focus on behavioral health

The buy also boosts the insurer's footprint in government-sponsored health plans with the addition of 5.5 million lives and another 2.2 million to add to its pharmacy benefit management platform.

CMS should tweak wage index adjustment to help rural hospitals, OIG says

The report, issued following a federal audit, found rural hospitals had the highest concentration of low-wage providers. Of all hospitals in the bottom quartile of area wage indexes, 53% were operating in rural areas.