Finances: Page 7
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Courtesy of HCA Healthcare
HCA logs $50M hurricane hit in Q3, expects greater loss in Q4
The for-profit giant affirmed its full-year revenue guidance, but executives said the ongoing impact of the storms would likely cause the operator to come in “on the lower half” of its range.
By Susanna Vogel • Oct. 29, 2024 -
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Centene beats investor expectations despite Medicaid headwinds
Like other payers, Centene flagged a mismatch between patient acuity and payment rates in Medicaid. But the insurer said a diversified portfolio helped it navigate challenges in the third quarter.
By Emily Olsen • Oct. 26, 2024 -
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AMA sues MultiPlan, insurers, alleging ‘cartel’ to fix physician prices
MultiPlan, which denies the allegations, has been sued dozens of times over concerns the company is conspiring with health insurers to underpay doctors for out-of-network care.
By Rebecca Pifer • Oct. 25, 2024 -
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State Medicaid directors concerned about program’s stability: KFF
The presidential election, loss of higher federal funding, inflationary pressures and other challenges are leaving state regulators uncertain about Medicaid’s “new normal.”
By Rebecca Pifer • Oct. 24, 2024 -
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Molina ‘beating the odds’ in Medicaid
Conservative planning and continued business growth helped Molina keep an ongoing mismatch between payment rates and member acuity from dinging its bottom line in the third quarter.
By Rebecca Pifer • Oct. 24, 2024 -
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Insurer lobby blames government policies for 2025 Medicare Advantage market makeup
The Better Medicare Alliance is warning of disruptions to care for America’s seniors, though MA premiums and major benefits are essentially unchanged next year.
By Rebecca Pifer • Oct. 23, 2024 -
Samantha Liss/Healthcare Dive
Centene sues HHS over Medicare Advantage star ratings fall
Centene is emulating other insurers unhappy with how regulators handled quality ratings for 2025. The flurry of complaints is “symptomatic of what appear to be systemic issues” with CMS calculations, Centene said.
By Rebecca Pifer • Oct. 23, 2024 -
Emily Olsen/Healthcare Dive
HLTH24Health startups need consolidation after pandemic funding ‘sugar high’
M&A could allow startups to add products and capabilities in a more restrained funding environment, panelists said at HLTH.
By Emily Olsen • Oct. 22, 2024 -
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CVS replaces CEO Karen Lynch with Caremark head
The struggling healthcare giant also pulled its earnings guidance, citing increased medical cost pressures in health benefits.
By Emily Olsen • Oct. 18, 2024 -
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Elevance lowers guidance on ‘unprecedented’ Medicaid challenges
Executives said the increased costs pressuring its Medicaid business would improve after states updated payment rates to better match member acuity.
By Emily Olsen • Oct. 17, 2024 -
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UHS, HCA could see financial boost from growth in state-directed payments for Medicaid services
Higher payments in four states could increase the hospital operators' profitability in the near term, according to analysts.
By Susanna Vogel • Oct. 16, 2024 -
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Health tech investment shows signs of recovery in 2024: SVB
Funding in the first eight months of the year has already exceeded pre-pandemic levels, according to Silicon Valley Bank. But high valuations recorded in 2021 are still affecting the market.
By Emily Olsen • Oct. 16, 2024 -
Daphne Howland/Healthcare Dive
Walgreens to close 1,200 stores
The closures reverse Walgreens’ expansion ambitions from a few years ago, when the company attempted to merge with rival Rite Aid.
By Daphne Howland • Oct. 15, 2024 -
Courtesy of UnitedHealth Group
UnitedHealth lowers adjusted profit outlook as cyberattack costs rise
The insurer has recorded $2.5 billion in total impacts from the attack through the nine months ended Sept. 30, according to UnitedHealth’s third-quarter earnings.
By Emily Olsen • Oct. 15, 2024 -
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Sponsored by HuronCost, care and digital transformation: What’s next for healthcare systems?
Healthcare executives shed light on the trends, challenges, and growth areas shaping the industry.
Oct. 14, 2024 -
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Digital health deal count declines in Q3, but check sizes stabilize: Rock Health
Startups notched 110 deals in the third quarter, compared with 133 in the second quarter. But average deal size held steady, suggesting investors are making “fewer, more focused bets,” according to the consultancy firm.
By Emily Olsen • Oct. 8, 2024 -
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Humana’s Medicare Advantage dilemma worsens amid precipitous drop in 2025 star ratings
Only 25% of Humana members will be in plans with four stars or above next year, down from 94% this year, the insurer disclosed last week. The downgrade could wipe out Humana’s profits in 2026.
By Rebecca Pifer • Oct. 3, 2024 -
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UHS forced to pay more damages related to child sexual abuse allegations at behavioral care facilities
The health system has been hit with a combined $895 million in damages this year related to alleged child abuse at some of its behavioral health subsidiaries.
By Susanna Vogel • Oct. 2, 2024 -
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CVS to lay off 2,900 employees amid reports of strategic review
CVS is cutting 1% of its workforce as the healthcare behemoth pursues a massive cost-cutting plan — and considers a potential breakup of its businesses, according to reports.
By Rebecca Pifer • Oct. 1, 2024 -
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Sponsored by ZOLL Data SystemsHow to stop the surge in self-pay write-offs by finding hidden coverage you can bill today
Providers who put AI-enhanced, real-time technology to work can improve their clean claims rate and pull payer dollars in more quickly.
Sept. 30, 2024 -
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Ascension posts $1.1B net loss for 2024 after May cyberattack
The cyberattack had far reaching effects, forcing the health system to shut down pharmacies, divert ambulances, switch to manual record keeping and close critical systems.
By Susanna Vogel • Sept. 19, 2024 -
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Health benefit costs to rise 5.8% per employee in 2025: survey
About half of employers said they would make cost-cutting changes to their plans next year, like increasing deductibles or other cost-sharing provisions, according to a report from consultancy Mercer.
By Emily Olsen • Sept. 17, 2024 -
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Medicare Advantage bonuses poised to drop this year for first time since 2015, KFF says
Still, plans are expected to rake in $11.8 billion in bonuses, with half of that tranche going to just two insurers: UnitedHealthcare and Humana.
By Rebecca Pifer • Sept. 13, 2024 -
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Tracking Steward's declineSteward loses money on Massachusetts hospital sales; CEO snubs Senate
Wednesday was a rocky day for bankrupt Steward Health Care as the system finalized unprofitable deals and CEO Ralph de la Torre landed in the spotlight once again for rebuffing a Senate subpoena.
By Susanna Vogel • Updated Sept. 5, 2024 -
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Drug distributors agree to $300M settlement for role in opioid epidemic
The settlement adds to the billions of dollars that McKesson, Cencora and Cardinal have already agreed to pay in restitution for flooding the U.S. with highly addictive painkillers.
By Rebecca Pifer • Sept. 4, 2024
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