Premiums rose 7% for employer-sponsored health coverage in 2023

The average premium was nearly $8,500 for single coverage and nearly $24,000 for family coverage this year, according to a new study published in Health Affairs.

By Emily Olsen • Oct. 18, 2023

Elevance could see $500M quality bonus revenue hit in 2025 from MA star ratings drop

The insurer is actively seeking ways to mitigate the financial impact of its star ratings drop, Elevance CEO Gail Boudreaux said during the insurer’s third-quarter earnings call.

By Sydney Halleman • Oct. 18, 2023

Financial distress is driving health system M&A, Kaufman Hall reports

More than a third of transactions announced in the third quarter included a party that cited financial distress as a reason behind the deal.

By Emily Olsen • Oct. 17, 2023

Rite Aid files for Chapter 11 bankruptcy, names new CEO

The pharmacy retailer plans to use bankruptcy to shrink its store footprint and manage a nearly $4 billion debt load.

By Nate Delesline III • Oct. 16, 2023

CVS shuffles leadership again as CFO takes leave

The changes come about a month after the pharmacy giant appointed CFO Shawn Guertin as president of its health services segment.

By Emily Olsen • Oct. 16, 2023

GLP-1s for weight loss leave employers in a bind over coverage

Employers face a difficult decision over whether to cover pricey weight loss drugs that pits the health and wellbeing of their employees against the health of their bottom line.

By Rebecca Pifer • Oct. 13, 2023

Walgreens, chasing profits, to close 60 VillageMD clinics in 2024

The company released a 2024 earnings outlook below Wall Street expectations on Thursday, two days after announcing a new CEO.

By Rebecca Pifer • Oct. 12, 2023

‘Hope is not a strategy’: Health startups short on cash staring down consolidation, investors say

As startups look for exits or are forced to consider a sale due to a lack of new capital in the next two years, companies have the opportunity to build their value propositions at reasonable prices, investors said.

By Rebecca Pifer • Oct. 11, 2023

Novant Health cuts 160 jobs, citing a ‘challenging healthcare environment’

The layoffs come after the North Carolina-based nonprofit system reported rising salary and employee benefit expenses in quarterly earnings this year.

By Susanna Vogel • Oct. 6, 2023

PayZen adds BNPL card for medical expenses

The debit card allows patients to swipe first, then pick a payment plan later, PayZen CEO Itzik Cohen said.

By James Pothen • Oct. 6, 2023

Rite Aid faces NYSE delisting

News of the company's possible removal from the New York Stock Exchange follows talks of a potential bankruptcy filing.

By Nate Delesline III • Oct. 5, 2023

Hospitals and digital health companies: making an emulsion from oil and water

Andreessen Horowitz partner Julie Yoo and Bassett Healthcare executive Paul Uhrig share their playbook for digital health entrepreneurs looking to partner with health systems.

By Julie Yoo and Paul Uhrig • Oct. 5, 2023

‘Labordemic’ to continue for nonprofit hospitals into next year, report finds

Expense management will be key for nonprofit hospitals as high labor costs are likely contribute to weaker margins in 2023 and 2024, according to a new report from Fitch Ratings.

By Susanna Vogel • Oct. 4, 2023

Trinity Health expenses surpassed operating revenue in fiscal year 2023

The nonprofit’s contract labor expenses continued to grow following “unprecedented highs” last year.

By Susanna Vogel • Oct. 3, 2023

Third quarter cements lower digital health funding, report finds

Funding and deal count has fallen significantly compared to pandemic boom times, but trends have stabilized for several quarters in a new normal for the digital health sector, according to Rock Health.

By Emily Olsen • Oct. 2, 2023

CVS hit with lawsuit from independent pharmacy over fees

A small Iowa pharmacy is accusing CVS Caremark of forcing independent pharmacies to sign one-sided contracts in order to stay in its network and continue dispensing drugs for its millions of covered lives.

By Rebecca Pifer • Sept. 28, 2023

Virgin Pulse, HealthComp close $3B merger

The now-completed combination of the digital health wellness company and plan administrator aims to create an integrated platform for employer-sponsored health benefits.

By Sydney Halleman • Updated Nov. 9, 2023

Centene lays off 3% of workforce

The insurer has been struggling with headwinds from Medicaid redeterminations and MA star ratings. The layoffs follow similar workforce reductions at CVS Health earlier this summer.

By Rebecca Pifer • Sept. 27, 2023

Cano sells Texas, Nevada centers to Humana subsidiary for $67M

The divestiture to Humana’s CenterWell Senior Primary Care business comes after Cano this summer said it was exploring a potential sale amid its worsening liquidity position.

By Rebecca Pifer • Sept. 26, 2023

Hospices bought by PE, public companies had more dementia patients, study finds

Hospices acquired by private equity firms and publicly traded companies shift their operational strategies toward maximizing profits, the new study in JAMA Network Open suggests.

By Emily Olsen • Sept. 26, 2023

Elevance, BCBSLA pause $2.5B merger amid regulatory scrutiny

The health insurers originally expected their merger to close before the end of 2023, but have hit snags receiving the regulatory green light in Louisiana.

By Rebecca Pifer • Sept. 26, 2023

CommonSpirit lays off 2K, reports $1.4B operating loss

The Catholic health system reported another round of layoffs, this time affecting ancillary, support and overhead positions.

By Susanna Vogel • Sept. 25, 2023

Staffing firm American Physician Partners files for bankruptcy

The company said the COVID-19 pandemic, rising labor costs and a “problematic” implementation of the No Surprises Act challenged its finances.

By Emily Olsen • Sept. 21, 2023

PBMs, PhRMA trade blame over drug costs in House hearing

Pharmacy benefit manager lobby PCMA and drugmaker lobby PhRMA pointed fingers over problems in the prescription supply chain during the House committee's second PBM hearing on Tuesday.

By Rebecca Pifer • Sept. 19, 2023

Hospitals share differing medical prices online versus over the phone, secret shopper survey finds

The study raises new questions about the dependability of hospital pricing, and builds on a mountain of research finding wide variance in pricing between different hospitals — and within the same facility.

By Rebecca Pifer • Sept. 18, 2023