Here are seven updates:
Kelso acquires Physicians Endoscopy
Charlotte, N.C.-based Pamlico Capital sold Physicians Endoscopy to Kelso & Company in a recapitalization transaction with management. Through the deal, Pamlico will exit its investment in Physicians Endoscopy. Pamlico acquired Physicians Endoscopy in August 2013 and worked to bolster the company's acquisitive growth strategy.
Medicaid reimbursed 6 Texas institutions an extra $57.8M due to erroneous calculations
Medicaid paid facilities in Texas $57.8 million for services that didn't qualify for reimbursement, due to erroneous calculations. CMS reported it will look into the situation and work with the Texas Health and Human Services Commission to figure out a resolution.
Orthopaedic Associates of Wisconsin opens $22M facility, includes ASC
Orthopaedic Associates of Wisconsin opened a new surgery center in Pewaukee. In addition to the surgery center, Orthopaedic Associates of Wisconsin is opening a comprehensive orthopedic clinic, MRI and a physical therapy suite. The $22 million project is 90,000 square feet.
Global smart wearable healthcare devices and services market to grow at 18%+ CAGR
From 2016 to 2020, the global smart wearable healthcare devices and services market is expected to increase at a compound annual growth rate of more than 18 percent. Trends shaping the market include a consumer-driven healthcare system, a growing aging population and prevalence of chronic diseases as well as new strategic initiatives.
CMS proposes moving six procedures off the inpatient-only list next year
For 2017, CMS proposes moving four spine surgeries and two laryngopalsty procedures off the inpatient-only list. This is the first step toward achieving reimbursement from Medicare. According to ISASS, the spine codes that would be removed from the inpatient only list include:
• Posterior non-segmental instrumentation: CPT 22840
• Posterior segmental instrumentation: CPT 22842
• Anterior instrumentation; two to three vertebral segments: CPT 22845
• Total disc arthroplasty anterior approach including discectomy with end plate preparation: CPT 22858
TeamHealth acquires Anesthesia Associates of Cincinnati
The Knoxville, Tenn.-based physician services organization TeamHealth recently acquired Anesthesia Associates of Cincinnati. Anesthesia Associates of Cincinnati currently provides anesthesiology staffing for four ambulatory surgery centers and two hospitals — The Christ Hospital and TriHealth Evendale Hospital, both of which are located in Cincinnati.
Oscar Health pulling out of exchanges in 2 states
Oscar Health is going to stop selling coverage in the New Jersey and Dallas healthcare Affordable Care Act exchanges. Going forth into next year, the firm plans to take e a more business-based approach to its policies as it adds in products for businesses. Oscar Health was valued at $2.7 billion earlier in the year. It lost $105 million in 2015, and has posted losses of $84 million in New York, California and Texas through the first half of 2016.
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Global smart wearable healthcare devices and services market to grow at 18%+ CAGR: 3 trends shaping the market
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