healthcare-business4.86 min read
"Private Equity's Impact on ER Care Under Senate Investigation"
1 year ago•Source: NBC News
Healthcare Business News
The latest healthcare business stories, summarized by AI
Featured Healthcare Business Stories
View original source
5.165 min•1 year ago
Senators Warren and Markey Oppose Steward Health's Sale of Physician Group to UnitedHealth
Steward Healthcare is facing backlash as it seeks to sell its network of physicians and nine Massachusetts hospitals to United Health Group to address financial issues. Health care experts and Senators Elizabeth Warren and Ed Markey have expressed concerns about the potential sale, citing worries about patient care, antitrust issues, and the impact on health care workers. The state's Health Policy Commission will review the proposed sale, while Markey plans to convene a congressional field hearing about Steward's troubles.
More Top Stories
2
Steward Health Care's Physician Group Sold to Optum Amid Regulatory Scrutiny
The Boston Globe•1 year ago
3
More Healthcare Business Stories
"DOJ Launches Antitrust Probe into UnitedHealth Amid Healthcare Cost Concerns"
The Justice Department has launched an antitrust investigation into UnitedHealth Group, focusing on its competitive practices in the healthcare industry, including its relationships between the UnitedHealthcare insurance unit and its Optum health-services-arm. This comes amid soaring healthcare costs and increased scrutiny on pharmacy benefit manager middlemen. The investigation also includes examining the company’s Medicare billing practices and the impacts of its doctor-group acquisitions on rivals and consumers. The DOJ declined to comment, while UnitedHealth did not immediately respond to a Reuters request for comment.
Health Care Service Corp Acquires Cigna's Medicare Business for $3.7 Billion
Health Care Service Corporation is set to acquire Cigna's Medicare business for $3.7 billion, gaining control of Cigna's Medicare Advantage, Supplemental Benefits, and Part D customers, as well as the CareAllies business. The deal includes Cigna's Evernorth Health Services unit providing pharmacy benefits for four years. Cigna's CEO cited the need for sustained investment and dedicated resources for their Medicare businesses, while the acquisition is expected to bring opportunities for Health Care Service and its members. The deal is anticipated to close in the first quarter of 2025.
"Rising Medical Costs and Profit Warnings: Humana's Troubles Signal End of Private Medicare Boom"
Humana Inc.'s bleak earnings forecast and withdrawal of 2025 guidance signal a challenging future for private Medicare plans, with rising medical costs expected to impact profitability and potentially lead to increased costs for seniors. The company's shares fell sharply, dragging down the sector, as it anticipates having to raise prices and reduce benefits to maintain profit margins. The outlook reflects broader industry concerns, with other major insurers also facing uncertainties related to escalating medical expenses and regulatory changes.
"CVS CEO Promotes Primary Care Expansion Post-Acquisitions"
CVS CEO Karen Lynch discussed the company's expansion into primary care, highlighting recent acquisitions of Signify and Oak Street Health. Lynch emphasized the importance of primary care as a cornerstone of CVS's health services, particularly for seniors, and mentioned plans to close 900 stores and remove self-checkout from some locations. She also touched on efforts to drive competition and lower costs through Caremark, the company's subsidiary managing prescription drug benefits for health insurers.