Southern blood center recovering from ransomware attack

OneBlood, which serves hundreds of hospitals in the southeastern U.S., had to implement manual methods for processing blood after the cyberattack, reducing its capacity.

Steward will lay off more than 1,200 workers in Massachusetts

The bankrupt health system will lay off workers at the end of the month as it prepares to close two hospitals in the state, according to notices filed with regulators last week.

Walgreens further reduces stake in Cencora for $1.1B

The struggling drugstore chain has been chipping away at its stake in Cencora, formerly known as AmerisourceBergen, since last summer.

Revenue cycle management firm R1 RCM to go private in $8.9B acquisition

The deal with private equity firms TowerBrook and Clayton, Dubilier and Rice comes months after New Mountain Capital announced its own takeover bid, which some analysts thought undervalued the company. 

Medicare finalizes higher 2.9% inpatient payment rate for 2025

Hospitals still weren’t happy with the final rule despite the bump from the CMS’ proposed rates, citing cuts to long-term and disproportionate share facilities.

Tracking healthcare data breaches

A data breach at an Arkansas-based behavioral healthcare provider may have exposed the information of more than 375,000 people.

Updated Aug. 5, 2024

Cigna CEO promises ‘aggressive’ defense of pharmacy benefit managers

David Cordani’s comments to investors Thursday come as the payer blew past Wall Street’s expectations for the second quarter, helped by significant growth in its health services division — including PBM Express Scripts.

Amwell boosts 2024 adjusted earnings outlook, narrows net loss in Q2

During a second-quarter earnings call Wednesday, CFO Robert Shepardson said reducing headcount was “one of the big drivers” for improving the guidance.

Jefferson Health, Lehigh Valley Health Network combine into 32-hospital system

The system will operate under the name Jefferson Health and Joseph Cacchione, who led Jefferson pre-merger, will stay on as CEO.

Updated Aug. 2, 2024

Judge approves Steward’s plan to close 2 hospitals by month’s end

Steward also provided an update on increasingly tense negotiations with its landlord about how to distribute proceeds from sales.

Humana expects to lose ‘few hundred thousand’ Medicare Advantage members next year

The insurer shrank its plan footprint for 2025 in a bid to improve margins. Now, Humana is giving market watchers loose guidance into how that reduction could affect its enrollment along with second quarter results.

Teladoc withdraws 2024 outlook, logs impairment charge amid downturn at BetterHelp

During a second-quarter earnings call Wednesday, new CEO Chuck Divita said the virtual care company is “not yet delivering on its fullest potential.”

Average cost of healthcare data breach nearly $10M in 2024: report

Though expenses declined since last year, healthcare is still the costliest industry for data breaches — a spot the sector has held since 2011.

Google cuts ties with Amazon’s One Medical

Loss of the contract is a major setback for One Medical, as Google made up roughly 10% of the company’s revenue before it was acquired by Amazon and stopped disclosing financial results.

Updated July 31, 2024

North Carolina to offer enhanced Medicaid funds to hospitals that help eliminate medical debt

The incentive program offers hospitals a carrot for relieving debt that health systems were unlikely to recover anyway, with experts labeling the program a “win-win” for patients and providers.

CHS to sell 3 hospitals, exiting Pennsylvania

The Franklin, Tennessee-based system plans to offload at least $1 billion worth of assets this year, executives said during an earnings call last week. 

Cleveland Clinic appoints first chief AI officer

Ben Shahshahani, who previously worked at SiriusXM, will lead the health system’s AI strategy, including managing safety, ethics and data security concerns.

HealthEquity data breach could affect 4.3M

The health benefits administrator said a vendor’s user accounts were compromised, and information like contact details, Social Security numbers and medical information could have been exposed.

Disadvantaged areas less likely to have high-quality Medicare Advantage plans, study finds

The research, which found socially vulnerable counties were more likely to have MA plans rated under 3.5 stars, is the latest highlighting the importance of location in healthcare access.

Mental telehealth services have declined since end of pandemic emergency: study

The JAMA study comes as lawmakers debate whether to permanently expand telehealth flexibilities in Medicare this year. 

Fewer than half of US adults under 50 can readily afford or access healthcare, analysis finds

The share of Americans who were either “cost insecure” or “cost desperate” when it comes to healthcare have both increased since 2022, a Gallup and West Health survey found.

Optum to lay off more than 500 workers in California

The cuts will affect urgent care locations, primary and specialty care clinics, and infusion centers, as well as office and remote workers.

CHS trims losses in second quarter

The health system posted a $13 million net loss, even as surgical and outpatient volumes climbed.

The Senate can protect the elderly by supporting nursing home staffing regulations — not overturning them

Lawmakers must uphold minimum staffing requirements for nursing homes to ensure quality care for the elderly, argues one legal expert.

Growth in ACA plans keeps Medicaid giant Centene from worst of redeterminations impact

Centene continued to deal with a mismatch between Medicaid rates and patient acuity in the second quarter, but still exceeded Wall Street’s expectations thanks to Affordable Care Act growth.