Here are 30 updates:
Judge to decide on $37B Aetna-Humana deal in January
U.S. District Judge John Bates set a Dec. 5 start date for a trial over the pending Aetna-Humana merger and he will make a decision on the merger in mid-January. If Aetna does not close on its Humana purchase by Dec. 31. 2016, the payer could face a $1 billion break-up fee.
Federal judge to stay on Aetna-Humana case, orders reassignment of Anthem-Cigna
U.S. District Judge John D. Bates of the District of Columbia ordered the Anthem-Cigna merger case be reassigned to another judge. The judge will stay on the Aetna-Humana case.
Aetna to pull out of 11 ACA exchanges; expects losses reaching $300M
Aetna will stop offering individual Affordable Care Act plans in 11 state exchanges in 2017. Aetna said it anticipated losses totaling $300 million on these state exchanges earlier this year. Similarly, UnitedHealth Group and Humana are also leaving several ACA exchanges after suffering million-dollar losses.
Physicians are concerned about the pending insurance megamegers
The healthcare industry is undergoing consolidation and the insurance industry is no exception. However, as competition dwindles in the market, physicians are concerned how the payer consolidation will detract from quality care, Joseph Valenti, MD, claims.
Anesthesiologist blamed for causing blindness in 5 cataract patients at Massachusetts clinic
A cataract eye surgery center in Massachusetts is the subject of controversy after five patients receiving cataract surgery in May 2014 went blind from the procedure. The surgeries were all performed at Cataract and Laser Center West in West Springfield, Mass. Specialists who examined the patients alleged that anesthesiologist Tzay Chiu, MD, is responsible for the injuries. The specialists believe Dr. Chiu possibly pierced the patient's eyeballs or retinas with his needles while he was performing an eye block.
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.
Healthcare Associates to build 60k-sq-ft ASC, medical building
Irving, Texas-based Healthcare Associates is building a new medical office building, equipped with an ambulatory surgery center. The project will be done in two phases and is expected to begin in the Fall.
Brigham strike, Epic implementation drag Partners' earnings
Partners HealthCare saw revenue increase 7 percent year over year to nearly $3.2 billion in the second quarter of 2016, but the Boston-based system ended the quarter with an operating loss. Partners reported an operating loss of $33 million in the second quarter of 2016, a dramatic drop from the operating gain of nearly $30 million the system recorded in the same period of 2015.
The system took an $8 million hit from spending on strike preparations earlier this summer at Brigham and Women's Hospital in Boston.
MEDNAX acquires Associated Anesthesiologists
MEDNAX has acquired Reno, Nev.-based anesthesiology practice Associated Anesthesiologists. Associated Anesthesiologists provides orthopedic, obstetric, pediatric and critical anesthesia care, among other subspecialty services.
Coordinated Health builds $15M ASC, medical campus
Coordinated Health broke ground on a new $15 million ambulatory surgery center and medical campus in Hazleton, Pa. The center's providers will offer services including spine, orthopedics, sports medicine, joint replacements, foot and ankle care, hand and wrist care, cardiology, women's health, specialty care, advanced imaging and rehabilitation.
Health spending reached $3.36T in June
In 2016, June's national health spending increased 5.2 percent compared to June 2015. National health spending hit $3.36 trillion in June 2016.
MFC revenue up 4.2%, totals $76.7M in Q2
Medical Facilities Corp.'s revenue from continuing operations increased 4.2 percent, hitting $76.7 million, during the second quarter of 2016. MFC's income from continuing operations reached $13.8 million, a 13.9 percent decrease from $16 million during the second quarter last year. The loss was due to a change in payer mix and higher expenses from case type's lower income and margins.
Maryland hospital shuts down NICU after deadly bacteria discovered
Cheverly, Md.-based Prince George's County Hospital Center shut down its neonatal intensive care unit after three patients tested positive for the Pseudomonas bacteria. Testing was prompted after the recent deaths of two patients, but those deaths have not been officially linked to the presence of the water-borne bacteria. The hospital transferred nine NICU patients to nearby hospitals.
State insurance regulators voice opposition to proposed regulation on short-term health plans
Louisiana, Oklahoma and Nebraska insurance regulators formally submitted objections to a proposed federal regulation that would impact short-term health insurance, just in time for the comment period's close on Aug. 9. The proposed regulation would cut short-term health insurance coverage to less than three months. The Department of Insurance in Pennsylvania represented the proposed rule's sole supporter.
Medicare pays male physicians nearly $19k more than female physicians
Postgraduate Medical Journal published a study finding Medicare reimbursed female physicians nearly $19,000 less than male physicians in a single year. Researchers found nephrology had the largest Medicare payment gap by sex, followed by pulmonary medicine and internal medicine.
The physician shortage may yield better pay, perks for physicians
A Health eCareers survey found 41 percent of providers said their compensation spiked last year, with 46 percent reporting it stayed the same. The survey found 61 percent of employers used other incentives and motivators to bring in and keep providers, with 25 percent of employers offering more flexible work hours and 16 percent offering more vacation and paid time-off.
Surgery Partners Q2 revenue hits $289.7M
The company's total revenues rallied 24.4 percent to $289.7 million during the second quarter, up from $232.8 million during the second quarter last year. Surgery Partners' same-facility revenues totaled $279.7 million during the second quarter, up 14.9 percent from $243.5 million during the same period in 2015.
Sweet Dreams Nurse Anesthesia settles False Claims allegations for $1M+: 5 key notes
Alpharetta, Ga.-based Sweet Dreams agreed to pay the United States $1.03 million and the state of Georgia $12,078.79 to resolve allegations about the practice violating the False Claims Act and the Georgia False Medicaid Claims Act. Sweet Dreams Nurse Anesthesia allegedly paid kickbacks to providers to encourage Medicare and Medicaid patient referrals.
Dr. Farzana Rashid Hossain appointed to 1st Philadelphia Commission for Women
Farzana Rashid Hossain, MD, will serve on the first Philadelphia Commission for Women, an organization aimed at building relationships and creating equitable opportunities for women in the Philadelphia workforce. Dr. Rashid Hossain is an assistant clinical medicine professor and a gastroenterologist at the Perelman School of Medicine in Philadelphia.
Bryan Health breaks ground on $25M ASC, medical building
Lincoln, Neb.-based Bryan Health broke ground on a new $25 million ambulatory surgery center and physician office building. Equipped with six surgical suites, the ASC will offer services including orthopedics, podiatry, gynecology, dental, plastics and general surgery.
Physicians Endoscopy partner East Side Endoscopy adds pain management services through NAPA
New York City-based East Side Endoscopy, a Physicians Endoscopy ASC, added pain management services to its offerings. North American Partners in Anesthesia is collaborating with the ASC for this new service line.
LA Dodgers Foundation gives Orthopaedic Institute for Children additional $20k for ASC
The Los Angeles Dodgers Foundation gave Orthopaedic Institute for Children $20,000 for its recently opened ambulatory surgery center in Los Angeles. The Dodger Foundation previously gave OIC $20,000 for the ASC, making its overall contribution total $40,000.
NY officials approve Endoscopy Center of Western New York $884k expansion plans
Buffalo-based Endoscopy Center of Western New York received approval from New York officials to expand to a fifth surgical suite. On July 27, the DOH issued the contingent approval level for the renovation. Endoscopy Center of Western New York expects to complete the expansion in four months pending other local approvals.
SCA revenue totals $299.9M, adds 9 facilities in Q2
Surgical Care Affiliates' net operating revenue totaled $299.9 million, an 18.2 percent increase from the same period the year prior. SCA acquired nine new facilities in the second quarter, four of which are consolidated, two of which are nonconsolidated and three of which are managed-only facilities.
Global anti-infective agents market to reach $111.4B by 2024
In 2015, the antibacterial segment had a 54 percent market share because of high prescription rates, more accessibility of antibacterials due to their over-the-counter status and providers preferring antibacterials to fight infections. In 2015, North America had revenue exceeding $25 billion in the market due to a high prevalence of infectious diseases.
Nobilis Health Q2 revenue up 26.6% after 3-hospital acquisitions in 2015
Nobilis Health reported a 26.6 percent increase in revenue for the second quarter of 2016. Revenue per case jumped from $10,136 over the same period last year to $11,524 in 2016 due to a higher acuity case mix. The company purchased three new hospitals last year.
St. Mary's Hospital settles lawsuit related to endoscopy death; investigation of gastroenterologist closed
Madison, Wis.-based St. Mary's Hospital settled a lawsuit following an endoscopy patient's death in 2013. The patient was undergoing a routine endoscopy and was under conscious sedation. He suffered irreversible brain damage from a lack of oxygen after the endoscopy. The lawsuit alleged the physician gave the patient more than double the amount of sedation drugs than was ordered. It also claimed the physician did not properly monitor the patient.
Takeda Pharmaceutical plans $725M R&D redesign
Takeda Pharmaceutical is planning a $725 million overhaul of its research and development efforts. Takeda will also focus its efforts in three primary therapeutic areas — oncology, gastroenterology and the central nervous system.
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