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Feb 26, 2024·LinkedIn

CIOs worry about costlier software bundles due to IT vendors favoring bigger sales strategies. Recent Broadcom acquisition, VMware, shifted from 160 individual products to two bundled offerings, asserting better value due to more included features. However, CIOs argue the higher prices for unwanted additional features impractical. Many call for flexible, modular, menu-style offerings akin to cloud sales, stressing that most companies won't utilize the full software bundle. New vendors, preferably smaller companies, are advised for lower, more bespoke pricing models.

Feb 20, 2024·Beckers Hospital Review

Ascension reported Q2 FY24 net income of $359.5m, a $708m improvement from Q2 2022's $238.1m loss. The improved operational performance is due to strategies for volume growth, rates, pricing, and cost controls. Revenue rose by 9.4% to $7.7b and expenses by 2.5% to $7.6b in Q2. Salaries, wages, and benefits decreased by 2.1% due to outsourcing lab services and labor stabilization initiatives. Ascension also saw increased facility volume primarily due to inpatient admissions and surgery visits.

Feb 16, 2024·Beckers Hospital Review

Mark Cuban's Cost Plus Drug Co. provides critical shortage drugs. Healthcare companies register on drug marketplace. Stocks on amoxicillin-potassium clavulanate, cefdinir, etoposide... $11 million drug plant under construction in Dallas. Over 4,000 medications for hospitals, retail pharmacies, clinics, post-acute care facilities, and surgery centers.

Feb 9, 2024·Healthcare Finance News

Amazon is axing over 100 jobs in One Medical and Amazon Pharmacy, aiming to cut operating losses and save up to $100 million. The eliminated roles are a part of reorganizing resources and, despite cuts, Amazon plans to continue recruiting providers, enhancing teams, and investing in technologies for high-quality, accessible care. Amazon acquired One Medical, a membership-based primary care organization, in 2022, marking another non-traditional company making inroads into the primary care market. This series of job cuts extends to other Amazon business units like Audible, Prime Video, Twitch, and Buy with Prime divisions.

Feb 7, 2024·WBUR

Steward Health Care, a major Massachusetts hospital operator, faces financial crisis threatening to fail. State officials, including Gov. Maura Healey, are closely monitoring the situation and developing plans to stabilize the state's health care system. Bailout for Steward is dismissed and, to manage the crisis, alternative options like takeover by other health systems or declaring a public health emergency are considered. Steward Health's secretive operations and litigation to avoid revealing financial information receives criticism. Mass General Brigham withdraws physicians from Holy Family, a Steward hospital, creating further disputes.

Feb 5, 2024·HC Innovation Group

UCI Health is set to acquire four-hospital Pacific Coast Network from Tenet Healthcare for $975 million, pending regulatory approval. The acquisition will incorporate medical centers in Lakewood, Los Alamitos, Fountain Valley, and Placentia, expanding UCI Health's portfolio to offer advanced care and clinical trials.

Feb 1, 2024·Ars Technica

HP's CEO explains that blocking third-party ink cartridges is a security measure as cartridges can be hacked. The company's Dynamic Security system, active since 2016, prevents HP printers from working with non-HP cartridges. This has led to lawsuits, with claimants believing consumers were not properly informed about updates disrupting printer functionality. An HP-funded study found hacking via third-party ink cartridge possible, but no evidence exists of such an attack occurring in reality. HP's persistent push towards proprietary cartridges and its profitable ink subscription service, Instant Ink, has led to consumer inconvenience and criticism. The company, however, sees selling printers as an investment in customers and expects a return via continued use of HP products and services.

Jan 29, 2024·Wendell Potter Substack

UnitedHealth Group, the largest for-profit healthcare company in the US, has intensively increased business transactions within its own divisions, sparking concerns of self-dealing and limited quality service offerings. The internal revenue of UnitedHealth grew over 25% in 2023, causing alarm over competition exclusion, quality assurance, and oversight evasion in the health care industry. Additionally, the dominance of its subdivisions, like Optum, might suggest financial engineering to bypass affordability requirements by the Affordable Care Act. Although legal, these practices offer few options and potentially reduce quality of care for patients.

Jan 24, 2024·CRN

Russia-linked actor hacks senior Microsoft executives' emails; scant details provided says CrowdStrike CEO George Kurtz. Kurtz criticizes timing of disclosure and lack of meaningful explanation. Microsoft ties hack to Midnight Blizzard, group behind 2020 SolarWinds breach. Microsoft attributes incident to late November 2023 password spray attack compromising a legacy non-production test account. Kurtz questions connection between non-production environment and high-level email compromise. Microsoft's disclosure limited to breach following SEC rules, Kurtz expects more to emerge.

Jan 22, 2024·General Catalyst

HATCo, GC's new Health Assurance Transformation business, aims to aid healthcare transformation with technology, caregivers, and capital. Part of this mission is long-term health system operation and acquisition to demonstrate industry transformation blueprint. HATCo views the intent to acquire Ohio's large integrated delivery system, Summa Health, as a move towards this goal. The partnership aims to continue serving communities using Summa Health's strengths, augmenting them for systemic improvement, focusing on proactive, accessible, affordable care, and not reducing costs but introducing innovation. The purchase isn't isolated, but part of broader engagement strategy with the wider healthcare ecosystem.

Jan 19, 2024·Fierce Healthcare

Epic launches Showroom site integrating third-party healthcare tech companies, replacing the previous App Market. The service connects software companies with provider customers, offers staffing support for feature implementation and connects healthcare ecosystem members. Its products section includes the Connection Hub for vendors to list their products integrated with Epic software, Toolbox with recommended integration practices and third-party apps, and Workshop for co-developing technology; all with an annual $500 fee. Epic aims to support standards-based interoperability while addressing provider request for beyond-standard integration. Showroom also includes Open.Epic API tool for app developers.

Jan 18, 2024·Beacon Journal

New healthcare venture capital firm, HATCo, aims to acquire largest employer and hospital system, Summa Health in Akron. The sale may transform Summa into a for-profit health service, profits will be turned into community endowments. HATCo plans to use Summa as a model for health industry transformation, CEO and leadership team will remain. Summa has been seeking sale or partnership for several years. The acquisition will take five years to fully implement, with first changes expected in the upcoming year.

Jan 18, 2024·Beckers Hospital Review

Epic's revenue increased from $3.2 billion in 2019 to $4.6 billion in 2022. The EHR firm leads in acute care hospital market share. CEO Judy Faulkner's net worth also rose to $7.4 billion.

Dec 28, 2023·STAT News

Apple watch import ban effective Tuesday due to USITC ruling on blood oxygen measurement feature's patent similarities to Masimo products. President Biden didn't veto. Apple must decide health feature's future.

Dec 18, 2023·Beckers Hospital Review

Illinois' Ascension Mercy Hospital, previously known as Amita Health Mercy Medical Center, continues to be referred to as "Mercy" despite multiple name changes due to mergers and acquisitions. Local familiarity often trumps official rebranding efforts. Name changes can reflect reputation repair, merging with a more recognized health system, or cultural shifts internally. However, constant name changes can challenge healthcare marketing. In absence of substantive reasons, experts suggest sticking with familiar names to save money and confusion.

Dec 11, 2023·Reuters

Cigna drops Humana acquisition due to price disagreement; plans $10B share buyback. Potential $140B Cigna-Humana merger faces antitrust concerns. Cigna explores Medicare Advantage business sale, despite sector expansion.

Nov 30, 2023·Beckers Payer

Cigna and Humana negotiate merger; to finalize stock-cash deal by end 2023. Cigna-Humana merger would create US healthcare giant and rival UnitedHealth Group, Elevance Health, and CVS; Cigna and Humana's market values are $83 billion and $62 billion. Cigna previously considered selling its Medicare Advantage business and attempted merger with Elevance Health.

Nov 30, 2023·Beckers Hospital Review

Providence reported a Q3 operating loss of $310M, down from last year's $164M, despite a 5% YOY revenue increase. Performance impacted by a 7% expense increase due to wage rises, higher supply and patient service costs. The system prioritizes recruitment and retention to reduce agency staffing reliance, addressing discharge challenges and increasing surgical capacity across facilities. Despite losses, an $857M operating loss for the nine months ending September is reported, lower than last year's $1.1B.

Nov 27, 2023·Healthcare Finance News

Express Scripts' new pharmacy network, ClearNetwork, offers 'cost plus' drug pricing model; clients pay the pharmacy's projected drug cost and small markup. Starting in 2024, ClearNetwork covers all medications on a client's formulary. Estimated costs are based on various industry benchmarks; charges include a dispensing fee and a 15% management fee. The model serves employers, health plans and government organizations.

Nov 24, 2023·Modern Healthcare

Epic Systems to receive $125M in payments from Tata Consultancy Services, following a 2014 lawsuit, as per a regulatory filing.