Finances: Page 12
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Tenet to sell majority stake in 5 Alabama hospitals for $910M
The health system has divested a string of hospitals this year as it seeks to pay down debt and refocus its portfolio on ambulatory surgery centers.
By Susanna Vogel • Aug. 6, 2024 -
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Walgreens further reduces stake in Cencora for $1.1B
The struggling drugstore chain has been chipping away at its stake in Cencora, formerly known as AmerisourceBergen, since last summer.
By Rebecca Pifer Parduhn • Aug. 5, 2024 -
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Medicare finalizes higher 2.9% inpatient payment rate for 2025
Hospitals still weren’t happy with the final rule despite the bump from the CMS’ proposed rates, citing cuts to long-term and disproportionate share facilities.
By Rebecca Pifer Parduhn • Aug. 2, 2024 -
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Cigna CEO promises ‘aggressive’ defense of pharmacy benefit managers
David Cordani’s comments to investors Thursday come as the payer blew past Wall Street’s expectations for the second quarter, helped by significant growth in its health services division — including PBM Express Scripts.
By Rebecca Pifer Parduhn • Aug. 1, 2024 -
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Tracking Steward's declineJudge approves Steward’s plan to close 2 hospitals by month’s end
Steward also provided an update on increasingly tense negotiations with its landlord about how to distribute proceeds from sales.
By Susanna Vogel • Aug. 1, 2024 -
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Humana expects to lose ‘few hundred thousand’ Medicare Advantage members next year
The insurer shrank its plan footprint for 2025 in a bid to improve margins. Now, Humana is giving market watchers loose guidance into how that reduction could affect its enrollment along with second quarter results.
By Rebecca Pifer Parduhn • July 31, 2024 -
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Google cuts ties with Amazon’s One Medical
Loss of the contract is a major setback for One Medical, as Google made up roughly 10% of the company’s revenue before it was acquired by Amazon and stopped disclosing financial results.
By Rebecca Pifer Parduhn • Updated July 31, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
CHS trims losses in second quarter
The health system posted a $13 million net loss, even as surgical and outpatient volumes climbed.
By Susanna Vogel • July 29, 2024 -
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Growth in ACA plans keeps Medicaid giant Centene from worst of redeterminations impact
Centene continued to deal with a mismatch between Medicaid rates and patient acuity in the second quarter, but still exceeded Wall Street’s expectations thanks to Affordable Care Act growth.
By Rebecca Pifer Parduhn • July 26, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
UHS says demand for services ‘moderating’ at acute hospitals in Q2
The health system reported a net income of $289.2 million in the second quarter, but relatively flat patient volume growth sparked analyst concerns during an earnings call Thursday.
By Susanna Vogel • July 25, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
Tenet raises full-year earnings guidance again
Tenet has an emerging “beat and raise” track record on Wall Street, analysts said.
By Susanna Vogel • July 25, 2024 -
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Molina’s Medicaid growth offsets worst of redeterminations pressures in Q2
The California-based insurer also outlined how it remains acquisitive, despite recently sharing plans to purchase ConnectiCare.
By Rebecca Pifer Parduhn • July 25, 2024 -
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HCA posts $17.5B in Q2 revenue and raises full-year guidance
The Nashville, Tennessee-based provider attributed the stronger-than-expected results to increased patient volumes.
By Susanna Vogel • July 23, 2024 -
Courtesy of Walgreens
S&P Global Ratings downgrades Walgreens, citing struggles in both pharmacy and retail
The drugstore retailer faces debt maturities, while the upending of some strategies introduces new uncertainties, analysts said.
By Daphne Howland • July 23, 2024 -
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Digital health funding declines, but check sizes swell: CB Insights
While the number of deals reached its lowest levels since 2014, the average deal size for the first half of 2024 was 40% higher than the year prior.
By Emily Olsen • July 19, 2024 -
Permission granted by Elevance Health
Elevance hits $2.3B in profit but trims long-term guidance
Elevance beat Wall Street expectations in second-quarter results posted Wednesday, despite steep Medicaid membership losses that are affecting revenue forecasts.
By Rebecca Pifer Parduhn • July 17, 2024 -
Courtesy of UnitedHealth Group
UnitedHealth’s cyberattack response costs to surpass $2.3B this year
The healthcare giant’s new estimate is roughly $1 billion higher than previous forecasts as the cyberattack on subsidiary Change Healthcare continues to hamper its profit outlook.
By Rebecca Pifer Parduhn • July 16, 2024 -
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Digital health funding shows improvement in 2024: Rock Health
U.S. digital health startups have raised $5.7 billion across 266 deals so far this year, putting the sector on track to possibly exceed recent full-year funding totals.
By Emily Olsen • July 10, 2024 -
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Medicare proposes 2.6% bump to hospital outpatient pay next year
The sweeping payment rule also solidifies continuous eligibility requirements for children in Medicaid and CHIP, and holds hospitals to higher obstetric care delivery standards in a bid to improve maternal mortality.
By Rebecca Pifer Parduhn • July 10, 2024 -
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CMS revised Medicare Advantage star ratings. Here’s which payers benefited.
More than 60 Medicare Advantage health plans from 40 insurers have received a higher star rating for 2024, according to a Healthcare Dive analysis.
By Rebecca Pifer Parduhn • July 9, 2024 -
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FTC slams pharmacy benefit managers in first report from ongoing investigation
The report is not positive for the drug middlemen, which immediately criticized it as one-sided.
By Rebecca Pifer Parduhn • July 9, 2024 -
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Cano Health exits bankruptcy as private company
The primary care chain is now focused on its Florida market, which includes 80 medical centers.
By Emily Olsen • July 2, 2024 -
Courtesy of UnitedHealth Group
UnitedHealth, Amedisys agree to sell clinics to get merger across finish line
The divestiture will only go through if UnitedHealth and Amedisys complete their merger, which was announced last summer but has been held up amid scrutiny from the Department of Justice.
By Rebecca Pifer Parduhn • July 2, 2024 -
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Amwell to implement reverse stock split to avoid delisting
The telehealth vendor’s share price has declined significantly since 2020. It received a warning this spring that its stock was trading below minimum standards, and could be removed from trading.
By Emily Olsen • June 28, 2024 -
Courtesy of UnitedHealth Group
Optum Rx reaches $20M settlement with Justice Department over opioid prescribing
The UnitedHealth pharmacy benefit manager did not have to admit guilt as part of the settlement, which amounts to a minuscule fraction of its annual revenue.
By Rebecca Pifer Parduhn • June 28, 2024
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