Cigna checks medical cost growth as Evernorth earnings boosted by GLP-1s

Cigna’s medical costs in the quarter were “well-controlled,” one analyst said, but faced pressure from higher estimated risk-adjustment payments in the ACA individual exchanges.

By Rebecca Pifer • Aug. 3, 2023

CHS announces new strategic initiatives to get back in black

After CHS posted a net income loss of $38 million on Wednesday, leadership told investors they have a plan to recover.

By Susanna Vogel • Aug. 3, 2023

Amwell lowers 2023 revenue outlook, racks up impairment charge in Q2

The telehealth company’s results are being impacted by churn on Amwell’s legacy platform as it migrates customers to its Converge software, CFO Robert Shepardson said.

By Emily Olsen • Aug. 3, 2023

CVS announces restructuring plan after profit falls 37%

CVS also lowered its 2024 earnings outlook, citing cost pressures, and said investors should no longer rely on its 2025 target.

By Rebecca Pifer • Aug. 2, 2023

Humana reports lower-than-feared medical costs, raises MA membership growth outlook

Humana’s stock rose following the earnings, which — along with comments from other payers — suggest the uptick in outpatient care flagged earlier in the quarter is moderating.

By Rebecca Pifer • Aug. 2, 2023

CMS finalizes 3.1% inpatient payment bump for hospitals

Hospitals decried the rate adjustment, which is higher than the 2.8% proposed earlier this year, as out of touch with their financial reality.

By Rebecca Pifer • Aug. 2, 2023

Tenet posts $123M profit on strong surgical demand, lower contract labor costs

Tenet is the third for-profit hospital to raise its revenue forecast for the year following its second quarter performance.

By Susanna Vogel • Aug. 1, 2023

Operating margins improve, but hospitals still face high expenses: Kaufman Hall

Most hospitals underperformed in June, which the consultancy attributes to a growing gap between affluent and poor hospitals.

By Emily Olsen • Aug. 1, 2023

CVS to lay off 5K employees amid cost pressures

The job cuts come as CVS faces hefty integration costs from recent M&A, including its $10.6 billion buy of Oak Street and $8 billion acquisition of Signify.

By Rebecca Pifer • Aug. 1, 2023

Digital health funding, deals reach lowest levels in years

Digital health startups across the globe raised $3.4 billion across 348 deals in the second quarter, with mega-rounds making up more than a quarter of all funding.

By Emily Olsen • July 31, 2023

Sanford-Fairview merger dead, following significant stakeholder pressures

Sanford and Fairview explored all options to keep the merger viable, but ultimately were forced to end the process due to a lack of support in Minnesota, Sanford CEO Bill Gassen said.

By Susanna Vogel • July 28, 2023

Centene’s 2024 outlook hampered by Medicaid redeterminations

The payer lost 262,700 Medicaid members in the second quarter, dropping its total Medicaid lives to just over 16 million.

By Rebecca Pifer • July 28, 2023

Nevada to shut down Friday Health Plans

State regulators will liquidate the failing insurtech, leaving about 3,000 enrollees to look for new coverage.

By Emily Olsen • July 27, 2023

HCA raises full-year outlook on strengthening admissions

The hospital chain's second quarter earnings beat Wall Street’s expectations on Thursday, as revenue rose off of increased utilization of inpatient and outpatient services.

By Susanna Vogel • July 27, 2023

Molina reports Medicaid redeterminations proceeding as expected

Despite concerns about high early levels of disenrollments, the payer lost 93,000 Medicaid members during the second quarter — well within forecasts, CEO Joe Zubretsky said.

By Rebecca Pifer • July 27, 2023

UHS beat Wall Street estimates for Q2 earnings on ‘high demand’ at acute care hospitals

The hospital operator raised lower-bound revenue expectations for 2023 after reporting a year-over-year increase in profit and revenue.

By Susanna Vogel • July 26, 2023

This year will not bring ‘full rebound’ for nonprofit hospitals

Many nonprofit hospitals suffered their worst operational year on record in 2022. This year is unlikely to bring a complete end to financial hardships, according to Fitch Ratings.

By Susanna Vogel • July 25, 2023

PE ownership worsens quality, raises costs, according to BMJ review

The analysis comes as private equity investments in healthcare soar and regulators look to crack down on roll-up acquisitions.

By Sydney Halleman • July 24, 2023

Elevance curbs elevated medical costs, raises 2023 forecast

Although it’s still early in the redeterminations process, Elevance is seeing “encouraging” signs that many Medicaid members who lose coverage are transitioning onto ACA plans, according to its CFO.

By Rebecca Pifer • July 19, 2023

Colorado to shut down failing Friday Health Plans

State regulators had initially hoped the insurtech could operate for the rest of the year, but Colorado’s insurance division became concerned about Friday’s longevity after placing the insurer into rehabilitation.

By Emily Olsen • July 18, 2023

UnitedHealth beats Q2 expectations, despite medical cost growth fears

Rising outpatient utilization among seniors that spooked investors earlier in the quarter left the payer’s bottom line largely unscathed.

By Rebecca Pifer • July 14, 2023

M&A transactions heat up to pre-pandemic levels, Kaufman Hall finds

Transactions in Q2 were the most in a single quarter since the COVID-19 pandemic began — a sign the M&A market is “regaining momentum.”

By Susanna Vogel • July 14, 2023

CFPB urged to abolish deferred interest amid medical debt concerns

Panelists who spoke during a recent hearing on medical billing and collections identified deferred interest credit cards as a prime culprit saddling patients with medical debt.

By Caitlin Mullen • July 13, 2023

Humana, Elevance, Centene downgraded days before second-quarter earnings kickoff

J.P. Morgan and Wolfe Research analysts cited uncertainty and pricing concerns in Medicare Advantage in addition to cost pressures in the commercial market when downgrading major U.S. payers.

By Rebecca Pifer • July 13, 2023

New normal: Less money, fewer investors for digital health

Rock Health’s latest report found U.S. startups raised $6.1 billion across 244 deals in the first half of 2023. If investment stays at the same pace, the sector is facing its lowest funding year since 2019.

By Emily Olsen • July 11, 2023