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DISCRIMINATION SUIT BROUGHT BY “JOHN DOE” HIV-POSITIVE PLAINTIFFS MAY PROCEED, A SAN FRANCISCO FEDERAL COURT RULED FRIDAY

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 …

DISCRIMINATION SUIT BROUGHT BY “JOHN DOE” HIV-POSITIVE PLAINTIFFS MAY PROCEED, A SAN FRANCISCO FEDERAL COURT RULED FRIDAY Read More »

CVS HEALTH REPORTS STRONG SECOND QUARTER PROFITS, BEATING ANALYSTS’ EXPECTATIONS

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 …

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NY ATTORNEY GENERAL SUES CVS, ALLEGING THAT IT HARMS SAFETY NET HOSPITALS AND PATIENTS BY DIVERTING MILLIONS FROM UNDERSERVED COMMUNITIES TO CVS

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 …

NY ATTORNEY GENERAL SUES CVS, ALLEGING THAT IT HARMS SAFETY NET HOSPITALS AND PATIENTS BY DIVERTING MILLIONS FROM UNDERSERVED COMMUNITIES TO CVS Read More »

HUMANA REPORTS STRONG SECOND QUARTER PROFITS AND INCREASES ITS ANNUAL PROFIT FORECAST DUE TO LOWER MEDICAL COSTS

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 …

HUMANA REPORTS STRONG SECOND QUARTER PROFITS AND INCREASES ITS ANNUAL PROFIT FORECAST DUE TO LOWER MEDICAL COSTS Read More »

ANTHEM (ELEVANCE HEALTH) POSTS STRONG SECOND QUARTER 2022 PROFITS, BEATING ANALYSTS’ EXPECTATIONS

Anthem, Inc., now known as Elevance Health, reported strong profits of $2.4 billion for the second quarter of 2022, an increase of 13.7% over the prior year quarter. Anthem’s operating revenues were also sharply up, growing 15.6% over the prior year quarter to $38.5 billion. Anthem’s adjusted net income was $8.04 per share, beating analysists’ …

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UNITEDHEALTH GROUP’S LOWER THAN EXPECTED MEDICAL COSTS CONTRIBUTED TO ITS STRONG SECOND QUARTER PROFITS, BEATING ANALYSTS’ EXPECTATIONS

UnitedHealth Group’s second quarter 2022 earnings report showed that its medical care ratio (MCR) was 81.5%, lower than its expected MCR of 83%. An insurer’s MCR, which is frequently referred as the medical loss ratio, represents the insurer’s spending on claims compared with its earnings from premiums. United’s lower than expected MCR means that it …

UNITEDHEALTH GROUP’S LOWER THAN EXPECTED MEDICAL COSTS CONTRIBUTED TO ITS STRONG SECOND QUARTER PROFITS, BEATING ANALYSTS’ EXPECTATIONS Read More »

UNITEDHEALTH GROUP REPORTS STRONG PROFITS FOR THE SECOND QUARTER OF 2022, BEATING ANALYSTS’ EXPECTATIONS

UnitedHealth Group reported strong profits for the second quarter of 2022, with double digit growth at both UnitedHealthcare and Optum. UnitedHealth Group’s strong second quarter profits beat analysts’ expectations. UnitedHealth Group posted profits of $5.1 billion for the second quarter, up from $4.3 billion for the second quarter in 2021.  UnitedHealth Group also posted revenues …

UNITEDHEALTH GROUP REPORTS STRONG PROFITS FOR THE SECOND QUARTER OF 2022, BEATING ANALYSTS’ EXPECTATIONS Read More »

AHA URGES CONGRESS TO INCREASE ITS OVERSIGHT OVER MEDICARE ADVANTAGE PLANS

In a strongly worded letter in advance of a Congressional hearing on Medicare Advantage plans, the American Hospital Association urged Congress to increase its oversight over these plans, stating: “strong, decisive, and immediate enforcement action is needed to protect sick and elderly patients, the providers who care for them, and American taxpayers….” In support of …

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THE SUPREME COURT SUPPORTS HHS’S RULES GOVERNING CALCULATION OF DSH ADJUSTMENTS TO HOSPITALS SERVING LOW-INCOME PATIENTS

On June 24, 2022, in Becerra v. Empire Health Foundation, the Supreme Court upheld the Department of Health and Human Services’ interpretation of the Medicare statute governing how disproportionate share adjustments are calculated for hospitals serving low-income patients. The interpretation upheld by the Court generally reduces the payments available to these hospitals. The case involved …

THE SUPREME COURT SUPPORTS HHS’S RULES GOVERNING CALCULATION OF DSH ADJUSTMENTS TO HOSPITALS SERVING LOW-INCOME PATIENTS Read More »