Insurance coverage not a panacea for healthcare affordability: survey

Numerous studies have outlined how high medical costs affect uninsured individuals, but healthcare prices are straining household budgets regardless of insurance type, according to the Commonwealth Fund.

By Rebecca Pifer Parduhn • Oct. 26, 2023

Global digital health funding hits lowest level since 2016, report finds

Digital health funding is flagging this year, with investments in the sector reaching only 40% of last year’s totals, according to CB Insights.

By Emily Olsen • Oct. 25, 2023

Teladoc kicks off ‘operational review’ to boost bottom line

The virtual care giant reported mixed results Tuesday, missing Wall Street expectations on revenue but beating on earnings per share.

By Emily Olsen • Oct. 25, 2023

Blue Shield of California is promising a simpler, cheaper pharmacy benefits model. Can it deliver?

Big questions hang over the California health insurer's bold experiment — having five vendors carry out PBM functions previously performed by one — that could threaten BSCA's expected savings.

By Rebecca Pifer Parduhn • Updated Oct. 26, 2023

HCA misses Q3 expectations on costs from staffing firm Valesco

The for-profit reported operational strains associated with its physician staffing firm in its third-quarter earnings.

By Susanna Vogel • Oct. 24, 2023

Amwell, Leidos score defense contract worth up to $180M

Analysts predict the contract could be worth up to $54 million for Amwell alone over its 22-month term.

By Emily Olsen • Oct. 20, 2023

Washington hospitals sue state over expanded interpretation of a charity care law

A state hospital association says the updated charity care guidance, which would require facilities to offer subsidized care for patients regardless of residency, risks making Washington a “medical tourism destination."

By Susanna Vogel • Oct. 19, 2023

Henry Ford, Ascension enter joint venture to create $10.5B system

The no-cash deal will combine Detroit-based Henry Ford Health with Ascension’s southeast Michigan and Genesys healthcare facilities and create an organization spanning more than 550 sites.

By Emily Olsen • Oct. 19, 2023

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 Parduhn • 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 Parduhn • 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 Parduhn • 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 Parduhn • 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