Elevance Health (formerly known as Anthem) reported strong profits of $1.6 billion for the third quarter of 2022, an increase of 7.2% over the prior year quarter. Elevance Health’s operating revenues were also sharply up, growing 11.5% over the prior year quarter to $39.9 billion. Both Elevance Health’s third quarter profits and revenues beat analysts’ […]
UnitedHealth Group (“United”) reported strong profits for the third quarter of 2022, with double-digit growth at both UnitedHealthcare and Optum. United’s strong third quarter profits beat analysts’ expectations and prompted UnitedHealth Group to increase its earnings forecast for the year. United posted profits of $5.3 billion for the third quarter, up from $4.1 billion for
In an article headlined “How Insurance Firms Exploited Medicare Advantage for Billions,” the New York Times has exposed how Medicare Advantage plans make their patients appear sicker than they are in order to significantly increase their profits. The Medicare Advantage plans accomplish this by scouring patient medical records for additional diagnoses that they then report
Judge Contreras of the federal District Court for the District of Columbia has vacated the Department of Health and Human Service’s rule cutting Medicare reimbursement to 340B hospitals for outpatient drugs for 2022. This means that 340B hospitals will be paid at the default Medicare rate of Average Sales Price plus 6% for these drugs
FEDERAL COURT ENDS CUTS TO PAYMENTS TO 340B HOSPITALS FOR OUTPATIENT DRUGS FOR 2022 Read More »
Jerome A. (Buddy) Cooper received a well-deserved recognition of being admitted to the Alabama Lawyers Hall of Fame. After serving as Justice Black’s first law clerk, Buddy was one of the founding partners of Cooper, Mitch & Black, which was the law firm where Joe Whatley began his law practice. Buddy was a great lawyer
BUDDY COOPER ADMITTED TO ALABAMA LAWYERS HALL OF FAME Read More »
On August 19, 2022, the Departments of Health and Human Services, Labor, and the Treasury (“the Departments”) issued their long-awaited Final Rules (“Final Rules”) under the No Surprises Act (“the Act”). The Final Rules significantly changed the previously issued Interim Final Rules in ways that should improve the transparency and fairness of the process for
Late Friday a federal court in San Francisco allowed a case against subsidiaries of CVS Health Corporation brought by HIV-positive “John Doe” plaintiffs to proceed, denying CVS’s motion to dismiss the case. This ruling comes on the heels of CVS’s abrupt dismissal late last year of its appeal to the United States Supreme Court of
CVS Health has reported strong second quarter profits and revenues, beating analysts’ expectations. CVS reported second quarter profits of $2.95 billion, up from $2.8 billion for the prior year quarter. This brings its profits for the first half of the year to $5.3 billion. CVS also reported strong revenues of $80.6 billion for the second
CVS HEALTH REPORTS STRONG SECOND QUARTER PROFITS, BEATING ANALYSTS’ EXPECTATIONS Read More »
New York’s Attorney General, Letitia James, has sued CVS Health Corp., alleging that it violated New York’s antitrust laws and abused its market power by illegally requiring safety net hospitals that contract with CVS pharmacies for dispensing 340B outpatient drugs to exclusively use CVS’s subsidiary Wellpartner as their Third Party Administrator (“TPA”) for the 340B
Humana, Inc. has reported strong second quarter profits of $696 million, bringing its profits for the first half of the year to $1.6 billion, an increase of 14.8% from the first half of 2021. Humana also reported strong revenues of $23.7 billion for the second quarter, an increase of 14.6% from the second quarter of