Digital health funding shatters records with $6.3B in 1st half of 2020

Telehealth received the most money as the COVID-19 pandemic drove unprecedented virtual care adoption, with $1.7 billion in funds.

By Rebecca Pifer • July 14, 2020

Shares in Oak Street Health soar 90% in market debut

Oak Street's IPO priced at $21 a share, but rose almost 90.5% in its first day of market trading Thursday, closing at $43.47.

By Shannon Muchmore • Updated Aug. 7, 2020

UHS finalizes DOJ fraudulent billing case for $122M

The hospital operator continues to deny the allegations and does not admit guilt. Criminal charges were dropped when the settlement was first announced roughly a year ago.

By Rebecca Pifer • July 13, 2020

As FCC taps out its coronavirus telehealth program, major nonprofits like Providence cash in

West Coast powerhouse Providence got almost $2 million, raising concerns the money went to systems "with the capacity to write an application for the money rather than the providers who needed it most," one health policy expert said.

By Rebecca Pifer • July 9, 2020

Providence, Humana back ad campaign urging patients to stop 'medical distancing'

Since the pandemic's onset in the United States, health officials have been concerned about the consequences of routine and preventive care being delayed or put off entirely. Providers also fear continued revenue loss.

By Shannon Muchmore • July 8, 2020

Here are doctors' offices, hospitals that got COVID-19 paycheck protection loans over $150K

"Had we not gotten paycheck protection, with the decrease in patient volume we saw, we would have had to terminate employees," Beverly Jordan, a physician at a small rural practice in Enterprise, Alabama, told Healthcare Dive.

By Rebecca Pifer • Updated July 8, 2020

Novartis to pay $678M to settle claims over 'sham' doctor events

The Swiss drugmaker admitted to hosting lavish dinners and events that were intended to convince doctors to prescribe Novartis heart and diabetes drugs.

By Ned Pagliarulo • July 2, 2020

Teladoc closes InTouch acquisition to round out provider offerings

Virtual care player Teladoc closed its acquisition of provider telehealth business InTouch Health for $150 million in cash and 4.6 million shares of common stock on Wednesday.

By Rebecca Pifer • July 1, 2020

Hospitals see fuzzy future for patient volume, predict an additional $120B in losses this year

American Hospital Association members said they don't think they will see typical volumes this year, while 30% said the timeframe was unknown or that they never expect to return to baselines.

By Hailey Mensik • June 30, 2020

Quorum completes bankruptcy process, taps new CEO

The health system also announced a new board of managers, including Joey Jacobs, former head of Acadia Healthcare, as the new CEO. He will succeed Bob Fish.

By Hailey Mensik • Updated July 8, 2020

US hospitals saw some recovery in May but distress 'far from over'

Median operating margins were back in the black and operating minutes almost doubled from April, but figures were still significantly down year over year, according to Kaufman Hall's latest flash report.

By Shannon Muchmore • June 24, 2020

Medicare Advantage plans could see payments drop in 2021 due to COVID-19, analysis finds

A new analysis by Avalere Health concludes that multiple Medicare Advantage claims dropped dramatically in April due to COVID-19, a trend that could depress payments to insurers in 2021.

By Ron Shinkman • June 23, 2020

Medicare claims data for COVID-19 highlights stark racial, economic disparities

Fee-for-service payments for related hospitalizations totaled $1.9 billion for the first months of the pandemic, with Black Americans four times more likely to end up in the hospital from the coronavirus.

By Shannon Muchmore • June 23, 2020

Recovery of medical staffing firms will lag behind hospitals, analysts say

The "pace of recovery will not be linear" and depends on the mix of service lines and geography, S&P Global analysts said in a Thursday note. Analysts also expect hospitals to aggressively renegotiate contracts later in the year.

By Rebecca Pifer • June 19, 2020

Medical groups, health systems expect COVID-19 pinch to last into next year, AMGA says

Although most of the providers surveyed say they have adequate reserves to last at least two more months, the trade group stepped up its pleas for more financial assistance from the federal government.

By Ron Shinkman • June 17, 2020

Advocate-Aurora, Beaumont ink letter of intent to explore merger

A union would create a system with combined revenue of about $17.5 billion. The plans come soon after Beaumont, Michigan's largest health system, canceled a planned merger with Ohio-based Summa Health.

By Shannon Muchmore • June 17, 2020

Tenet cites dramatic rebound of patient volume post COVID-19 slump

New hotspots are emerging in states in the West and South largely spared from the first coronavirus wave, posing a challenge for hospital operators with major footprints in those states, such as the Dallas-based chain.

By Hailey Mensik • Updated June 17, 2020

CMS pushes back payer MLR reporting deadline, citing COVID-19

The agency said granting flexibility would help insurers pay rebates mandated by the Affordable Care Act more quickly to enrollees, but issued no requirement that they be sped up.

By Ron Shinkman • June 15, 2020

Air ambulance market is 'dysfunctional,' puts most patients at risk for huge surprise bills: analysis

Even the insured struggle to pay, with median charge for in-network claims up from $24,938 in 2014 to $32,708 in 2017, according to claims data from Aetna, Humana and UnitedHealthcare.

By Ron Shinkman • June 12, 2020

It's time for a national hospital supply chain czar

If the current lack of supply chain coordination isn't resolved before the expected second surge in COVID-19 cases strikes, the result will be a far worse crisis, writes Jody Hatcher, a healthcare supply chain expert.

By Jody Hatcher • June 12, 2020

Professional services revenue plunged nearly 50% in April as pandemic worsened

The nonprofit FAIR Health study found the dramatic decrease was due to a 68% drop in use as patients and doctors deferred non-essential care.

By Rebecca Pifer • June 10, 2020

Amwell files for IPO — report

The telehealth player is reportedly preparing to go public on the heels of raising almost $200 million in funding amid widespread enthusiasm for virtual care brought on by the COVID-19 pandemic.

By Rebecca Pifer • June 5, 2020

$250B of all healthcare spend could be digitized, McKinsey estimates

Some analysts expect telehealth use to flag in the second half of 2020 if the novel coronavirus loses steam. But McKinsey researchers think these dynamics will persist for up to 18 months at least, or until a vaccine is widely available.

By Rebecca Pifer • June 4, 2020

CMS relaxing more value-based model requirements in wake of pandemic

The changes are aimed at minimizing reporting burden and increasing flexibilities for providers as they continue to face great financial and logistical challenges from the novel coronavirus.

By Shannon Muchmore • June 3, 2020

Medicaid expansion key indicator for rural hospitals' financial viability

Other factors that play a positive role include tax-exempt status and occupancy rates, according to a study in Health Affairs.

By Hailey Mensik • June 2, 2020