Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare Lawsuit accuses CVS of overcharging for generic drugs 8:45:00 AM CVS Health Corp. deliberately overcharged some pharmacy customers for generic drugs by submitting claims to their insurance companies at inflated prices, according to a lawsuit filed Thursday in federal court in San Francisco. Healthcare spending grows twice as fast as economy Thursday, July 30, 2015 6:00 PM Healthcare spending grew at twice the rate of the rest of the economy in the second quarter, renewing fears that the sector's upward march has resumed after nearly a half decade of relative calm. CMS reduces pay bump for skilled-nursing facilities in fiscal '16 Thursday, July 30, 2015 6:00 PM Skilled-nursing facilities will get a smaller rate increase than initially proposed by the CMS for fiscal 2016. The decrease is due to various changes in calculations including inflation predictions, according to a CMS spokesman. REITs present attractive M&A option for real estate-heavy providers Thursday, July 30, 2015 5:45 PM Deals between hospital operating companies and real estate investment trusts (REITs) are expected to multiply as more providers realize it's time to cash in on their bloated real estate portfolios. Abbott Laboratories to buy heart-valve maker Tendyne for $225M Thursday, July 30, 2015 5:05 PM Medical-device maker Abbott Laboratories said Thursday it has agreed to buy replacement heart-valve maker Tendyne Holdings for $225 million, and has invested in a second company in the field. Providers back bill notifying Medicare patients about observation stays Thursday, July 30, 2015 4:00 PM Healthcare providers are expressing support for legislation overwhelmingly approved by Congress requiring hospitals to notify Medicare patients when they are receiving observation care but have not been admitted. U. of Maryland Medical Center CEO to retire Thursday, July 30, 2015 4:00 PM Jeff Rivest, longtime president and CEO of the Baltimore-based University of Maryland Medical Center, has announced that he will retire this summer. Cigna beats forecast with profitable second quarter Thursday, July 30, 2015 12:24 PM Lower medical costs and more revenue from employer- and government-based health plans led to higher second-quarter profits for Cigna Corp., the Bloomfield, Conn.-based company reported Thursday. UHS predicts a more profitable 2015 after strong second quarter results Thursday, July 30, 2015 12:16 PM Universal Health Services is predicting a more profitable 2015 than it had originally expected, after second-quarter results continued to show strong demand for healthcare services

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Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare Q2 profits fall at MedAssets 1:01:00 AM Second quarter profits fell at MedAssets as the company faced restructuring costs and other expenses rose, even as its newly acquired analytics firm Sg2 contributed additional revenue. N.J. hospitals sue state over EMS law Wednesday, July 29, 2015 4:55 PM Two New Jersey health systems are suing because they say a new state law unfairly takes away their role as advanced emergency medical service providers in their service areas. Wheaton College ends student health plans over birth control Wednesday, July 29, 2015 4:44 PM Wheaton College in suburban Chicago will stop offering health insurance plans to students beginning Friday in an effort to avoid providing birth control coverage mandated by the Affordable Care Act. States warn Medicaid managed-care rule would shrink their authority over plans Wednesday, July 29, 2015 3:00 PM As expected, the CMS' sweeping rule to modernize the regulation of Medicaid managed-care plans is drawing flak from state Medicaid directors and insurers who say it would impose heavy-handed federal control and could hurt patient care. Cerner, Leidos and Accenture win massive Defense contract for EHR system Wednesday, July 29, 2015 2:15 PM Cerner Corp. and its partners Leidos and Accenture Federal Services have won one of the largest health information technology contracts in U.S. history. Federal grants aim to expand health information exchange Wednesday, July 29, 2015 1:15 PM ONC awards $38 million to states, universities and communities to improve health information exchange, health IT workforce training and population health best practices. Henry Schein earnings stagnate despite surging medical sales Wednesday, July 29, 2015 1:02 PM Medical supplies continue to be a strong business for Henry Schein Inc., as medical office sales once again grew significantly faster than its animal health and dental strongholds, whose earnings were largely wiped out by a strong dollar. Advocates split with health plans and states over Medicaid long-term care rules Wednesday, July 29, 2015 12:09 PM Patient advocates are praising a section of the CMS' proposed Medicaid managed-care rule related to long-term care. But health plans and states are sharply critical of provisions imposing new credentialing requirements on long-term care providers... Assurant Health faces costs, fines as it shuts down Wednesday, July 29, 2015 11:44 AM Assurant Health absorbed a $124 million net loss in the second quarter this year as the financially troubled health insurer continues to wind down its operations. It had to settle a complaint in Montana that it illegally charged sicker enrollees...

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Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare Anthem grows Q2 profitability, preps for Cigna takeover 8:45:00 AM Low medical costs and growth in Medicaid membership raised the second-quarter bottom line at Anthem. Now, the Indianapolis-based health insurer will turn its focus on getting approval for its $54.2 billion takeover of rival Cigna Corp. Gilead Sciences continues to ride the wave of hep C meds in Q2 Tuesday, July 28, 2015 7:58 PM Sales of Sovaldi and Harvoni accounted for 60% of Gilead's revenue for the second quarter of 2015. The drugs have treated more than 180,000 hepatitis C patients in the U.S. and Europe since the beginning of the year, according to the company. Steward faces fines in Mass. over delays in filing financial results Tuesday, July 28, 2015 5:15 PM Steward Health Care, a Boston-based, private equity-backed hospital chain, is facing fines in Massachusetts for failing to file its financial statements on time. CMS projects higher healthcare spending growth through 2024 Tuesday, July 28, 2015 5:00 PM The historically low growth rates of national health spending over the last several years may be history. CMS officials say the Affordable Care Act's insurance expansion, an improving economy, an aging population and expensive new drugs are pushing... HHS: No evidence of fraudulent HealthCare.gov enrollment Tuesday, July 28, 2015 3:45 PM HHS is not aware of any consumers intentionally falsifying information to get subsides for insurance exchange coverage, Secretary Sylvia Mathews Burwell testified Tuesday. This month, the GAO said investigators were able to sign up for coverage, get... Burwell: HHS not investigating Planned Parenthood following video leaks Tuesday, July 28, 2015 3:21 PM There are no current plans for HHS to investigate Planned Parenthood for providing fetal tissue to researchers, Secretary Sylvia Mathews Burwell said Tuesday. Some want the provider's funding pulled after leaked videos show doctors discussing... Pfizer sales, earnings still in patent-cliff plunge Tuesday, July 28, 2015 3:15 PM Pharmaceutical giant Pfizer on Tuesday reported continuing declines in sales and earnings as it girds for the loss of patent protection in Europe and Japan of Enbrel, its rheumatoid arthritis drug. Bad metrics put patients at risk, prevent providers from improving Tuesday, July 28, 2015 3:00 PM The hospitals most likely to be penalized under the federal hospital-acquired-condition reduction program are those that are Joint Commission accredited and do well on other publicly reported quality measures, a new study finds. LabCorp rebounds in second quarter Tuesday, July 28, 2015 1:06 PM Having rebounded from the cost of both acquiring Covance and a corporate restructuring, Laboratory Corporation of America Holdings Tuesday reported a jump in its second-quarter earnings.

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Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare Analysts expect more tie-ups in generic drug business 8:45:00 AM Analysts say they expect more tie-ups are coming in the generic drug industry in the wake of Teva's mammoth deal for the generic drug business of Allergan. Judge tosses lawsuit seeking fatal drugs for terminally ill Monday, July 27, 2015 8:15 PM A judge has thrown out a lawsuit against the state of California by three terminally ill residents seeking doctor-prescribed fatal medication. Capella Healthcare to be sold to REIT in $900 million deal Monday, July 27, 2015 6:09 PM Capella Healthcare, the privately held, Franklin, Tenn.-based chain, will be sold to a real estate investment trust in a $900 million deal. As more care moves to the outpatient setting, hospitals are hoping to find value in their bloated real estate... 21st Century Cures bill doesn't push innovation far enough, policy group says Monday, July 27, 2015 6:00 PM A new report released Monday by the Washington, D.C.-based Bipartisan Policy Center found that $1.5 trillion invested in research and development over the past 20 years resulted in fewer drugs actually going to market compared to the 1950s. As patient volume rises, Ochsner plans growth strategy Monday, July 27, 2015 4:45 PM An increase in patient volume at Ochsner Health System in New Orleans contributed to a higher operating margin in the first half of 2015 and the system is moving forward with new expansion projects. Covered California announces 4% rate hike, about same as last year Monday, July 27, 2015 3:58 PM Covered California enrollees will see premiums increase 4% in 2016, exchange officials said Monday. The increase is actually slightly less than the 4.2% jump consumers experienced between 2014 and 2015. CMS streamlines Medicaid waiver renewal process Monday, July 27, 2015 2:15 PM The CMS has taken steps to ensure transparency and timely renewal of Medicaid demonstration waivers via new guidance. This comes weeks after facing congressional criticism and scrutiny over its oversight of the program. The agency also announced... Swedish Covenant joins growing list of hospital urgent-care operators Monday, July 27, 2015 1:33 PM Chicago-based Swedish Covenant Hospital is expanding its Immediate Care Center program, joining a growing list of hospitals investing in urgent-care operations. Magellan Health's stock suffers on disappointing Q2 profit Monday, July 27, 2015 1:14 PM Magellan Health reported Monday that second-quarter earnings fell far below Wall Street's expectations. Results at the managed-care and pharmacy benefits company have trended down in both quarters this year.

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Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare Israel's Teva buys Allergan generic drug company for $40.5B 7:45:00 AM Israel's Teva Pharmaceutical Industries said Monday it is purchasing Dublin-based Allergan's generic pharmaceuticals business for $40.5 billion, in what Israeli analysts called the largest-ever acquisition by an Israeli company.

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Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare CMS extends moratorium on new home health agencies in some cities Friday, July 24, 2015 6:24 PM The CMS has again extended a moratorium for another six months on new Medicare home healthcare agencies, subunits and ambulance suppliers in a slew of major cities across the country. It's part of an ongoing battle against fraud, waste and abuse. Cholesterol drug Praluent approved by FDA Friday, July 24, 2015 6:00 PM The Food and Drug Administration on Friday approved a first-of-a-kind drug that lowers artery-clogging cholesterol more than older drugs that have been prescribed for decades. But the drug's $14,600-a-year price tag is certain to escalate debate... NNU wins rights to unionize at Kaiser's L.A. Medical Center Friday, July 24, 2015 5:30 PM National Nurses United and the affiliated California Nurses Association say they've won the rights to unionize nurses at Kaiser Permanente's flagship hospital in Los Angeles, months after it called for a strike at the hospital despite not... Ascension buys Capella out of mid-Tennessee joint venture Friday, July 24, 2015 4:25 PM Ascension is assuming full ownership of four hospitals in mid-Tennessee that were previously managed in partnership with Capella Healthcare. Capella has been divesting hospitals in Tennessee and Missouri since last year as the business environment... Employers warming up to private insurance exchanges Friday, July 24, 2015 2:15 PM Employers and health insurance companies showed a visible appetite for private health exchanges at a conference Thursday, building on executives' desires nationwide to keep the growth of healthcare costs manageable. What's right, wrong and illegal in handling fetal tissue Friday, July 24, 2015 2:15 PM The selling of fetal organs and tissue is illegal under federal law. But donations are legal. In fact, an entire industry has formed around the brokerage of donations. AbbVie beats 2Q profit forecasts but sales fall short; new drug OK'd Friday, July 24, 2015 1:45 PM Drugmaker AbbVie reported better-than-expected second-quarter profit, but its sales disappointed Wall Street. The FDA on Friday approved a new drug from AbbVie for the treatment of hepatitis C, creating a competitor to one of the most expensive... Anthem acquiring Cigna in largest-ever health insurance deal: $54.2B Friday, July 24, 2015 12:15 PM Anthem will acquire Cigna for $188 per share, the health insurance companies announced Friday. The deal, including Cigna's debt, will be worth $54.2 billion. It is the largest-ever health insurance transaction. California judge says he'll dismiss physician-aid-in-dying lawsuit Friday, July 24, 2015 12:10 PM In another setback for California advocates of medical aid in dying, a California Superior Court judge indicated Friday he would dismiss a case challenging the state's law against the practice, also known as physician-assisted suicide.

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Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare Little Sisters of the Poor appeal birth control ruling to Supreme Court 9:00:00 AM A group of Colorado nuns said Thursday they will go to the U.S. Supreme Court to appeal a ruling that allows their employees to receive birth control from a third party under the ACA, fueling a combustible argument over contraception and religion... BREAKING: Anthem to acquire Cigna in $54.2B deal, largest ever in health insurance 8:30:00 AM Anthem will acquire Cigna for $188 per share, the health insurance companies said Friday. The deal, including Cigna's debt, will be worth $54.2 billion. It is the largest-ever health insurance transaction. Cancer specialists urge letting Medicare negotiate drug prices Thursday, July 23, 2015 7:00 PM Cancer patients who receive life-prolonging drugs often face bills for those therapies that are several times greater than their annual family income. A commentary published Thursday by more than 100 cancer specialists is the latest effort to curb... Illinois must pay Cook County's Medicaid providers, judge rules Thursday, July 23, 2015 6:15 PM A federal judge says payments to Medicaid providers in Cook County, Ill., must continue even without a state budget. U.S. District Judge Joan Lefkow ordered the payments Thursday after advocates for Medicaid recipients brought the matter to court. Sales growth, lower recall charges boost Stryker earnings Thursday, July 23, 2015 5:58 PM Stryker's earnings have rebounded in the second quarter of 2015 as expenses from last year's recall of hip implants have declined. The Kalamazoo, Mich.-based medical-device maker saw its numbers triple in part because of strong sales in... Senate panel will push HHS to delay Stage 3 MU rules Thursday, July 23, 2015 3:45 PM The Senate HELP Committee wants to delay Stage 3 meaningful-use rules, Chairman Lamar Alexander (R-Tenn.) said during a news conference Thursday. It's one recommendation in an effort to get providers on board to adopt EHRs. Free-standing ERs boost Adeptus Health Q2 revenue Thursday, July 23, 2015 12:45 PM Taking a strong position in the free-standing emergency room sector that is expanding across the country, Adeptus Health's revenue skyrocketed in the second quarter of 2015.

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Modern Healthcare Breaking News

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Modern Healthcare Breaking News Latest Breaking News from Modern Healthcare Anthem nearing acquisition of Cigna, reports say 8:30:00 AM Anthem appears to be close to cementing its acquisition of Cigna Corp., a move that would consolidate the health insurance industry even more. Medicare panel voices moderate support for covering peripheral artery disease treatments 7:30:00 AM The Medicare Evidence Development and Coverage Advisory Committee expressed moderate confidence Wednesday in treatments of peripheral artery disease. The lukewarm vote means it's unlikely Medicare will pay for tests to diagnose or treat this disease... Medicare bundled payment firm secures $50 million investment 7:00:00 AM Remedy Partners, a company that helps hospitals and physicians with bundled payment programs, has raised $50 million from Bain Capital Ventures. The investment signals a growing interest in fixed-cost, episode-based care. Medicare trust fund outlook unchanged Wednesday, July 22, 2015 6:30 PM Medicare's hospital trust fund remains on track to cover all obligations until 2030, the Social Security and Medicare trustees said in their annual report released Wednesday. Sutter Health reports stronger margins, discloses $3M settlement Wednesday, July 22, 2015 5:30 PM Sutter Health reported that it nearly doubled its operating margin in the first quarter of the year as admissions increased and more patients had insurance. The Sacramento, Calif., system also disclosed that it entered into a $3 million settlement... Should individuals be allowed to sue over ACA contraceptive coverage mandate? Wednesday, July 22, 2015 4:28 PM A federal appeals court this week decided to allow a Missouri lawmaker's challenge to the Affordable Care Act's contraception mandate to move forward—a decision that could influence who brings such lawsuits, some say. Lawmaker calls VA shortfall 'budget-gate' Wednesday, July 22, 2015 3:45 PM Legislators on Wednesday told VA Secretary Robert McDonald that closing VA hospitals would be unacceptable despite the agency's $2.5 billion shortfall. CynergisTek names new sales and marketing VP Wednesday, July 22, 2015 1:25 PM Adam Hawkins has been appointed VP of sales and marketing at CynergisTek, an Austin, Texas-based healthcare IT security consulting firm. St. Jude offers $3.4 billion for Thoratec to bolster heart failure portfolio Wednesday, July 22, 2015 12:15 PM St. Jude Medical has forged a $3.4 billion deal to acquire cardiovascular device company Thoratec to diversify its portfolio of heart failure products. The deal comes as St. Paul, Minn.-based St. Jude reported lagging sales in its cardiac rhythm... Blog: Can medical devices be hacked like remote-controlled cars? Wednesday, July 22, 2015 11:29 AM Two hackers proved they could wirelessly hack into vehicles and remotely take control of them. Scarier still? Hackers have demonstrated that they can tamper with medical devices the same way.

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