Finances: Page
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Providence $538M loss shows pandemic woes trump bailout funds in H1
Unlike some other major hospital systems buoyed by federal funds, including Kaiser and the biggest for-profits, expenses and volume depression threw the Washington state system's financials into the red.
By Samantha Liss • Aug. 18, 2020 -
Banner, battered by COVID-19 in Arizona and beyond, sees H1 net loss
Still, the nonprofit system's size and breadth of business is likely to keep it afloat, analysts have said. The organization received $400 million in federal COVID-19 relief funding and has more than 250 days cash on hand.
By Hailey Mensik • Aug. 14, 2020 -
HHS sending $1.4B from COVID-19 bailout funds to children's hospitals
Certain free-standing children's hospitals not affiliated with larger systems will be eligible to receive 2.5% of their net revenue from patient care and will begin receiving the money this week.
By Hailey Mensik • Aug. 14, 2020 -
Telemedicine, remote monitoring hottest 2020 digital health startups, CB Insight finds
Twelve unicorn companies are on this year's list, including Ro, a telehealth platform that provides remote care and medication delivery services, and insurer Oscar.
By Hailey Mensik • Aug. 13, 2020 -
One Medical beats Q2 estimates, rolls out new telehealth option
The primary care chain that went public earlier this year also said it's entering North Carolina and Wisconsin, bringing its presence to 15 markets.
By Shannon Muchmore • Aug. 13, 2020 -
Regional chains Sentara, Cone to merge into 17-hospital, $11.5B system
The Norfolk, Virginia- and Greensboro, North Carolina-based providers plan to complete the union in the middle of next year. M&A activity hasn't slowed as much as some expected amid the pandemic.
By Hailey Mensik , Shannon Muchmore • Aug. 12, 2020 -
20 state AGs urge Trump admin to nix proposed tax breaks for health sharing ministries
Saying it would undermine the Affordable Care Act and encourage fraud, the attorneys general called a draft rule arbitrary and particularly dangerous amid the COVID-19 pandemic.
By Ron Shinkman • Aug. 12, 2020 -
New CMS value-based payment model aimed at rural hospitals, ACOs
The program will include upfront and capitated payments for providers as well as some regulatory flexibilities. It will require facilities to partner with state Medicaid agencies in an attempt to improve care coordination.
By Shannon Muchmore • Aug. 11, 2020 -
OIG says hospitals overbilled Medicare $267M by improperly coding post-discharge services
The watchdog recommended CMS direct its recovery audit contractors to recoup overpayments made within the past four years.
By Ron Shinkman • Aug. 10, 2020 -
Buoyed by bailout funds, all major for-profit hospital chains reported increased profits in Q2
The second quarter was expected to be devastating for hospitals as the pandemic forced many to stop business as usual. The results raise questions about whether federal bailout funds were meant to pad the bottom line.
By Samantha Liss • Aug. 10, 2020 -
Telehealth claims dipped in May, but still up 5,680% from year ago: Fair Health
The latest insurance data found private claims for virtual care fell 33% from April, but are still wildly up amid lockdowns and the ongoing pandemic.
By Ron Shinkman • Aug. 7, 2020 -
Payers saw massive Q2 profits as COVID-19 deferred care
Anthem, UnitedHealth and Centene reported at least doubling profits for the quarter. Meanwhile, CVS-owned Aetna and Humana raised their 2020 earnings outlooks.
By Shannon Muchmore • Aug. 7, 2020 -
Brian Tucker/Healthcare Dive
Teladoc-Livongo: Is the first digital health megadeal 'outrageous' or a starter gun for virtual care M&A?
Despite some initial investor skepticism, some experts say the tie-up could usher in bigger deals for the virtual care space.
By Rebecca Pifer Parduhn • Aug. 6, 2020 -
Bruce Bennett via Getty Images
CVS profit soars to $3B on lower medical utilization
The performance of CVS' health benefits arm, which includes major commercial payer Aetna, more than offset a sharp earnings drop in its retail segment as COVID-19 slashed foot traffic to its brick-and-mortar locations.
By Rebecca Pifer Parduhn • Aug. 5, 2020 -
Teladoc to buy Livongo in $18.5B deal
An explosion in use of virtual care may have sped up the timeline for the deal. Investors were not on board, driving down shares in both companies.
By Shannon Muchmore • Updated Aug. 5, 2020 -
For-profits, church-run health systems dominated M&A growth from 2016 to 2018: Health Affairs
The share of physicians affiliated with vertically integrated health systems rose 11 percentage points, from 40% to 51%, the survey of 50 deals found.
By Hailey Mensik • Aug. 4, 2020 -
Brian Tucker/Healthcare Dive
CMS proposes eliminating inpatient-only list
The agency said the COVID-19 pandemic has "highlighted the need for more healthcare access points throughout the country," including ambulatory surgical centers.
By Shannon Muchmore • Updated Aug. 4, 2020 -
The White House/Healthcare Dive, data from WhiteHouse.gov
CMS expands telehealth coverage in physician fee rule following Trump executive order
The agency proposed making permanent almost two dozen new telehealth codes. A notable exception is Medicare's temporary reimbursement for audio-only visits, though the agency did ask for public input on the omission.
By Rebecca Pifer Parduhn • Aug. 4, 2020 -
Allscripts stock surges on mixed Q2 results
The EHR vendor continues to withhold full-year guidance. But its stock, which has plummeted by almost a fourth since the beginning of this year, was up 33% in early morning trading Friday.
By Rebecca Pifer Parduhn • July 31, 2020 -
Cerner Q2 bookings up slightly, though full-year guidance cut again
The EHR vendor cited uncertainties driven by the COVID-19 pandemic for lowering 2020 estimates, as many of its health system clients face their own woes.
By Hailey Mensik • July 30, 2020 -
Cigna beats in Q2 as commercial enrollment nearly steady despite pandemic
The payer posted profit of $1.75 billion, up nearly 25% year over year. Like other insurers, the company saw increased profit as people deferred care in April and May to forgo potential exposure to the novel coronavirus.
By Shannon Muchmore • July 30, 2020 -
Getty / Edited by Healthcare Dive
CHS beats Q2 expectations with help from $564M in bailout grants
The Franklin, Tennessee-based hospital chain reported $2.52 billion in net operating revenue, an 18.4% drop compared to the same period a year prior but above Wall Street forecasts.
By Hailey Mensik • Updated July 29, 2020 -
COVID-19 spurs tripling in Teladoc visits to 2.8M, full-year outlook hiked again
Utilization dipped from March's high but stabilized at 40% higher than pre-pandemic levels following May and June containment measures, CEO Jason Gorevic said.
By Rebecca Pifer Parduhn • July 29, 2020 -
Anthem posts $2.3B profit in Q2 as Medicaid growth outpaces commercial losses
Like for other payers, the COVID-19 pandemic has tamped down healthcare use and resulting costs. Executives said utilization among members was down about 40% in April and 20% in May but returned nearly to baseline last month.
By Shannon Muchmore • July 29, 2020 -
Permission granted by Heal
Humana invests $100M in at-home primary care startup Heal
"The fact that healthcare belongs in the home — there's an exclamation mark to it, because of the pandemic, but we believed it before," Heal CEO Nick Desai told Healthcare Dive.
By Rebecca Pifer Parduhn • July 29, 2020
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