Wed.Nov 01, 2023

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CVS Health beats the Street with $2.3B in Q3 profit

Fierce Healthcare

CVS Health beat the Street on both earnings and revenue in the third quarter, reporting $2.3 billion in profit. | By comparison, the company reported a $3.4 billion loss in the third quarter of 2022 as it paid out its part in a global settlement over the opioid crisis.

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HHS announces first ransomware settlement

Health Care Dive

Doctors’ Management Services agreed to settle claims it did not comply with HIPAA breach rules and failed to identify risks after a cyberattack exposed the information of more than 200,000 patients.

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How behavioral health tech can help overcome adoption hurdles among neurodiverse populations

Fierce Healthcare

Technologies like wearables and virtual reality could become key tools in engaging neurodiverse patient populations, streamlining provider workflows and tracking outcomes, payers, therapists and te | Speakers at a virtual roundtable commended technologies like wearables and virtual reality (VR) for their potential to engage neurodiverse patients, streamline provider workflows, and measure and improve outcomes.

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Humana reports medical cost growth from MA utilization

Health Care Dive

The payer expects higher levels of Medicare Advantage utilization to continue for the remainder of the year, outgrowing past expectations.

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How to Battle Layoffs: The Career Star Accelerator Bootcamp

Facing layoffs in your organization? Support your team members' career transition with Career Star Accelerator Bootcamp: Custom Resume & LinkedIn Revamp + 6 Weeks of Career Coaching. Our certified resume writers will create job search-winning resumes and LinkedIn profiles while they work with a career coach to learn unique strategies to stand out, attract the right employers, automate their job search, and land their dream job.

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CMS finalizes $140M increase to home health payments

Fierce Healthcare

Centers for Medicare & Medicaid Services (CMS) released a rule Wednesday that increases the 2024 home health payments by 0.8%, or $140 million. | CMS' new proposed rule will increase home health payments by 0.8%, or $140M, among other changes.

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Health AI startup Olive to shut down

Health Care Dive

The startup was once valued at $4 billion during the height of the digital health funding boom.

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More Trending

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CVS beats expectations in Q3, but high costs weigh on profit outlook

Health Care Dive

The company is prepared for potential legislation forcing transparency in its pharmacy benefit manager business practices later this year, CEO Karen Lynch said on Wednesday.

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'Podnosis': A look at Blue Shield of California's new pharmacy benefits model

Fierce Healthcare

In this week's episode of “Podnosis,” we explore Blue Shield of California's plan to transform its pharmacy model. | In this week's episode of “Podnosis,” we explore Blue Shield of California's plan to transform its pharmacy model. This includes a shift away from the traditional PBM relationship in favor of forming partnerships with five companies: Amazon Pharmacy, Abarca, Mark Cuban Cost Plus Drugs Company, CVS Caremark, and Prime Therapeutics.

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“My Doctor’s Office” Should Accept Wearable Tech Health Data, Most Patients Say

Health Populi

“Do personal health trackers belong in the doctor’s office?” Software Advice wondered. “Yes,” the company’s latest consumer survey found, details of which are discussed in a report published on their website. Unique to this study is the patient sample polled: Software Advice surveyed 876 patients in September 2023 to gauge their perspectives on wearable tech and health.

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Sempre Health partners with Organon on pricing program that ties patient copays to adherence

Fierce Healthcare

Sempre Health launched eight years ago with a text-based solution that gives patients a financial incentive to refill medications on time. | Sempre Health has added two of Organon's asthma therapies to its platform that gives patients a financial incentive to refill medications on time.

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5 Essentials for Healthcare CIOs: A Provider Data Management Checklist

Complete and accurate provider data is essential for health organizations to operate effectively. A better understanding of your provider network helps to understand patients and consumers, identify gaps in care, and make the best possible decisions for your businesses. A modern provider data management solution should power a complete and accurate view of each of your providers, make this data easily accessible across functional groups, and be flexible and agile enough to scale. with your needs

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CMS Finalizes 0.8% Home Health Payment Increase For 2024, Additional PDGM Cuts

Home Health Care

The U.S. Centers for Medicare & Medicaid Services (CMS) released its CY 2024 home health final payment rule Wednesday. It comes with an estimated aggregate increase to 2024 home health payments of 0.8%, or $140 million, compared to 2023 aggregate payments. “The $140 million increase in estimated payments for CY 2024 reflects the effects of the CY 2024 home health payment update percentage of 3.0% ($525 million increase), an estimated 2.6% decrease that reflects the effects of the permanent b

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Health tech company IKS Health picks up AQuity for $200M to broaden its reach to hospitals

Fierce Healthcare

IKS Health, a company that provides administrative, clinical, operational and revenue tech solutions, acquired AQuity Solutions for $200 million to broaden its services from ambulatory care provide | IKS Health, a company that provides administrative, clinical, operational and revenue tech solutions, acquired AQuity Solutions for $200 million to broaden its services from ambulatory care providers to hospitals.

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Walmart Health Expands Affordable Access to Healthcare in Florida

HIT Consultant

What You Should Know: – Today, Walmart Health announced it is entering into a relationship with both Ambetter from Sunshine Health , which provides insurance to individuals through the Florida health insurance marketplace, and Orlando Health , a private, not-for-profit network of community and specialty hospitals across Florida, through Care Coordination Agreements. – These collaborations will help Floridians gain access to affordable healthcare options with the type of convenience c

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Healthcare Dealmakers—UnityPoint, Presbyterian's $11B merger called off; Olive AI's sell-off and more

Fierce Healthcare

Healthcare mergers and acquisitions are in no short supply as providers, health tech companies, retailers and other industry players look to expand their businesses and gain a competitive edge. | Henry Ford Health's $10.5 billion joint venture with Ascension Michigan, BCBSNC's urgent care purchase and more merger and acquisition deals announced in October.

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Level up Culture & EQ | Sign up for the #CultureDrop

Once a week, culture & leadership expert Galen Emanuele gives free, actionable EQ training in 5 minutes or less. Subscribe to the #CultureDrop and access free resources & content.

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Humana’s Big Plans To Optimize CenterWell Home Health, Drive Value-Based Care

Home Health Care

To bolster value-based care, Humana Inc. (NYSE: HUM) is launching a comprehensive initiative to reimagine its home health operations. Humana’s home health engine — CenterWell Home Health — continues to be one of its strongest performing arms. In its fee-for-service business, year-to-date episodic admissions are up 8.6%, while total admissions are up 5.1%.

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First CPT Code for AI Prostate Cancer Imaging Issued for Avenda Health

HIT Consultant

What You Should Know: – Avenda Health’s AI mapping tool for prostate cancer, Unfold AI™, has received significant recognition by obtaining a new Category III CPT code in the 2024 Current Procedural Terminology (CPT) code set, signifying its status as a cutting-edge medical technology. – The new Category III CPT code, X237T, outlines the tool’s capabilities, describing it as a non-invasive prostate cancer estimation map that is derived from an augmented analysis of image-g

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With Signify Health Under Its Belt, CVS Health Continues To Get Creative

Home Health Care

CVS Health (NYSE: CVS) is ramping up efforts around two of its most recently acquired home-based care and primary care assets. “We are scaling capabilities to accelerate growth at both Signify and Oak Street,” Karen Lynch, president and CEO of CVS Health, said during he company’s third-quarter earnings call Wednesday. CVS Health originally completed its $8 billion acquisition of Signify Health — a value-based platform that offers at-home health risk assessments, among other services — in March.

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Healthcare AI News 11/1/23

HIStalk

News A White House executive order on responsible use of.

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A Guide to Improved Sepsis Detection & Compliance: 6 Areas You Should Address

This guide highlights key areas that your sepsis detection platform should address to minimize the impact of this leading, entirely preventable cause of in-hospital deaths, as well as how to increase compliance by 20% in 30 days. Download to learn more!

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AdaptX Secures $10M for AI-Powered, Self-Serve Clinical Management

HIT Consultant

What You Should Know: – AdaptX , a self-serve clinical management solution company raises $10M in funding led by Cercano Management and included participation from notable entities, such as Memorial Hermann Health System , Morningside Ventures , and returning investors Founders’ Co-op, Fortson VC , Star Equity, and WRF Capital. The company’s focus is on using AI-driven technology to enable clinical leaders to make data-informed decisions and optimize patient care processes with

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Readers Write: Surviving the Blizzard: How Technology Can Ease Specialty Medication Re-Enrollment Season

HIStalk

Surviving the Blizzard: How Technology Can Ease Specialty Medication Re-Enrollment.

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Covera Health Secures Up to $50M to Revolutionize Radiology Nationwide

HIT Consultant

What You Should Know: – Covera Health , an AI-enabled diagnostic technology company, has announced securing up to $50M in additional Series C funding. This substantial funding aims to support their mission of reshaping the role of radiology on a national scale. – The company’s platform employs advanced data analytics and AI to enhance the quality and efficiency of radiology services.

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HIStalk Interviews B.J. Schaknowski, CEO, Symplr

HIStalk

B.J. Schaknowski, MBA is CEO of Symplr of Houston, TX.

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The New Tech Experience: Innovation, Optimization, and Collaboration

Speaker: Paul Weald, Contact Center Innovator

Learn how to streamline productivity and efficiency across your organization with machine learning and artificial intelligence! No matter what industry you're in - healthcare, customer service, sales, and more - it’s easier than you think to reduce wait times, monitor sentiment, and provide enhanced self-service options for all of your users. This means that you can achieve a more consistent and engaging customer experience while reducing sources of friction.

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75% of Healthcare Organizations Hit by Ransomware Attacks, Sophos Survey Finds

HIT Consultant

What You Should Know: – Cybercriminals have been highly successful in their ransomware attacks on healthcare organizations, according to a new survey conducted by Sophos. “ The State of Ransomware in Healthcare 2023 , report reveals nearly 75% of the surveyed healthcare organizations reported that their data was successfully encrypted by the attackers. – In addition, only 24% of healthcare organizations were able to disrupt a ransomware attack before the attackers encrypted their da

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Readers Write: Bracing for the Silver Wave: How to Design a Healthcare Technology Stack Built for the Future

HIStalk

Bracing for the Silver Wave: How to Design a Healthcare.

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Waystar Postpones U.S. IPO in Response to Market Turbulence

HIT Consultant

What You Should Know: – Waystar , a healthcare payments company, has decided to postpone its initial public offering (IPO) due to the ongoing market turmoil in the United States, according to a confidential source. Reuters first reports the company plans to revive its IPO efforts, but it is likely to wait until December at the earliest or possibly until 2024. – The decision to delay the IPO was made in response to the volatility in the broader market.

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Proposed Rule Change Would Make U.S. Healthcare System Even More Complicated and Potentially More Costly

Healthcare Leadership Council

The last thing the U.S. healthcare system needs is more paperwork. Unfortunately, the federal Centers for Medicare & Medicaid Services (CMS) is proposing a policy change that would assign more “busy work” to key players across the health sector. The proposal specifically targets Medicaid, the government program that provides health care for millions of low-income Americans and people with disabilities.

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Strategies to Deal with Collaborative Healthcare Communication

Speaker: Dr. Ugo Uwaoma, MD, MBA

Due to the impact of COVID-19, integrating telehealth software into practices and organizations has become the new normal. In turn, this has increased the effectiveness of collaborative healthcare by strengthening communication amongst healthcare workers and helping combat the woes of burnout. Communication between patients and healthcare providers has also improved, allowing patients to reach their providers easily and decreasing turnaround time.

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Understaffed RCM Payment Teams Need a New Way Forward

HIT Consultant

Shantanu Gangal, CEO, Prodigal Last year, only 8% of healthcare executives said their RCM or billing departments were adequately staffed, and a stunning 48% said the employee shortage was “severe,” according to a survey cited in MedCityNews. RCM teams are the engine that allows the machinery of healthcare organizations to run. Without effective billing and payment processes that deliver positive patient financial experiences, everything grinds to a halt.

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Morning Headlines 11/2/23

HIStalk

AdaptX raises $10M to expand its AI-driven medical data analysis.

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Emory Health Taps DrFirst to Leverage Clinical-Grade AI for Medication Adherence & Affordability

HIT Consultant

What You Should Know: – Emory Healthcare , a comprehensive academic health system in Georgia, is collaborating with healthcare technology pioneer DrFirst to help patients access and adhere to affordable, appropriate prescription medications for their health conditions and ailments. – As part of the collaboration, Emory Healthcare will leverage three medication management services offered within Fuzion by DrFirst, a software platform that uses clinical-grade artificial intelligence (A

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White House orders HHS to collect reports on healthcare AI safety

Health Care Dive

President Joe Biden outlined the planned program as part of an executive order on “safe, secure, and trustworthy” artificial intelligence.

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Top 12 Telehealth KPIs Every Health Tech Leader Should Know

Speaker: Matt McBride, CEO and Co-Founder of Mend

Patient engagement happens before, during, and after interactions. Consumer research has found that in 2021, 64% of US households reported using Telehealth services. In addition 34% of patients would prefer Telehealth visits to in-office visits. Accessible patient engagement technology can help you improve your relationships with your patients while also improving your KPIs.