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<title>TTA’s May Flowers: Walmart Health and Optum telehealth exits, UHG CEO’s Congressional roast, Teladoc’s red ink, Oracle’s Music City HQ move, MobileHelp PERS for sale, fundings, more!</title>
<link>https://telecareaware.com/ttas-may-flowers-walmart-health-and-optum-telehealth-exits-uhg-ceos-congressional-roast-teladocs-red-ink-oracles-music-city-hq-move-mobilehelp-pers-for-sale-fundings-more/</link>
<comments>https://telecareaware.com/ttas-may-flowers-walmart-health-and-optum-telehealth-exits-uhg-ceos-congressional-roast-teladocs-red-ink-oracles-music-city-hq-move-mobilehelp-pers-for-sale-fundings-more/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Fri, 03 May 2024 09:30:57 +0000</pubDate>
<category><![CDATA[Alerts emails]]></category>
<category><![CDATA[Advocate Health]]></category>
<category><![CDATA[Aetna]]></category>
<category><![CDATA[Alaffia]]></category>
<category><![CDATA[ALPHV]]></category>
<category><![CDATA[AlphV/BlackCat]]></category>
<category><![CDATA[Ambetter]]></category>
<category><![CDATA[BabySat]]></category>
<category><![CDATA[BetterHelp]]></category>
<category><![CDATA[Centene]]></category>
<category><![CDATA[Cerner]]></category>
<category><![CDATA[Change Healthcare]]></category>
<category><![CDATA[Cigna]]></category>
<category><![CDATA[Clear Arch]]></category>
<category><![CDATA[CVS Health]]></category>
<category><![CDATA[Data breach]]></category>
<category><![CDATA[Frist Cressey Ventures]]></category>
<category><![CDATA[HHS]]></category>
<category><![CDATA[Klineo]]></category>
<category><![CDATA[Medicare Advantage]]></category>
<category><![CDATA[MidiHealth]]></category>
<category><![CDATA[MobileHelp]]></category>
<category><![CDATA[Nashville]]></category>
<category><![CDATA[Optum]]></category>
<category><![CDATA[Optum Virtual Health]]></category>
<category><![CDATA[Oracle]]></category>
<category><![CDATA[Oracle Health]]></category>
<category><![CDATA[Orlando Health]]></category>
<category><![CDATA[Owlet]]></category>
<category><![CDATA[Teladoc]]></category>
<category><![CDATA[telehealth]]></category>
<category><![CDATA[Trovo Health]]></category>
<category><![CDATA[UnitedHealth Group]]></category>
<category><![CDATA[va]]></category>
<category><![CDATA[VillageMD]]></category>
<category><![CDATA[Walgreens]]></category>
<category><![CDATA[Walmart Health]]></category>
<category><![CDATA[Walmart Health Virtual Care]]></category>
<category><![CDATA[WBA]]></category>
<category><![CDATA[Wheel]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37270</guid>
<description><![CDATA[    Surprises and shockers abound this week. If Walmart can’t make it in providing basic health services, what hope does a retail model really have? Optum and Walmart exit telehealth, while Teladoc grows–firmly in the red. Change Healthcare’s troubles led to UHG’s CEO grilling on both sides of Congress and humiliation on MFA. MobileHelp PERS up for sale, Owlet’s new partner, fundings, partnerships. And a shrinking Oracle goes to Music City! News roundup: UHG CEO’s Bad Day at Capitol Hill; Kaiser’s 13.4M data breach; Walgreens’ stock beatup; Cigna writes off VillageMD; Oracle Cerner shrinks 50%; Owlet BabySat gets Wheel; fundings for Midi, Trovo, Alaffia, Klineo (A rough week for some) Teladoc’s Q1: increased revenue, increased net loss, dealing with slowing growth–as is CVS Health (Teladoc in existential crisis?) Midweek news roundup: Optum exiting telehealth, laying off; Advocate Health selling MobileHelp; VA notifying 15M veterans re Change PHI breach, Oracle moving to Nashville–maybe? (updated) (A lot of jettisoning) Walmart Health shutters health centers, Walmart Virtual Care, in sudden move (updated–why?) (If Walmart can’t make it…) Returning to the Cyberattack That Changed Everything, wondering how much and to whom UnitedHealth paid ransom–now that they’ve finally admitted it. Also returning to those Merger Guidelines and how they may change the face of healthcare M&A. VA and DOD hard at work on their EHRs and systems, Lumeris gains a luminous funding, but Optum staff are seeing pink slips. Two studies: Telehealth underutilized, underbilled, even during pandemic–and accounted for only modest increases in costs, and quality (Perhaps undercaptured?) Short takes: VA seeks vendor to support EHR testing; Defense Health seeks ‘digital front door’ vendor; GAO recommendations to Oracle; Nonin partners with Finland’s Medixine; Lumeris gains $100M equity funding What the DOJ and FTC Merger Guidelines mean for healthcare M&A–a Epstein Becker Green podcast (Legal department torture) Breaking: UnitedHealth admits to paying ransomwareistes on Change stolen patient data (updated) (For what and how much?) Who really has the 4TB of Change Healthcare data 4 sale? And in great timing, Optum lays off a rumored 20K–say wot? (UHG has some ‘splainin’) Another packed week, with a few baffling events. Leading in bafflement is NeueHealth’s additional $30M from NEA, which now owns 60%. UHG battling on multiple fronts between the Change hacking and the House, Walgreens lays off more to cut costs, VillageMD sued on ad trackers, and Cerebral’s comeuppance costs $7.1M. VA may restart Oracle Cerner implementation, Epic and Particle Health feud. But restoring faith in health tech benefiting a neglected group is TandemStride. TandemStride launches platform to assist survivors of traumatic injury; a personal look (A real care gap) News roundup: Congress hammers absent UHG on Change cyberattack–and more; 10% unhinged at Hinge Health; Steward Health nears insolvency; Two Chairs $72M Series C (UHG’s troubles cover the waterfront) ISfTeH student contest and award 2024–deadline 26 April! (Move fast!) Mid-week short takes: UnitedHealth’s $1.2B Q1 loss from Change attack, another Walgreens layoff, Dexcom-MD Revolution partner, Kontakt.io $47.5 raise, GeBBS Healthcare may sell for $1B (Walgreens still downsizing–what’s next) News roundup: VillageMD sued on Meta Pixel trackers; Cerebral pays $7.1M FTC fine on data sharing, cancellation policy; VA may resume Oracle Cerner implementation during FY2025; Epic-Particle Health dispute on PHI sharing (Cerebral still in trouble) The New Reality, Bizarro World version: NeueHealth gets $30M loan increase from NEA, now majority owner (Baffling) This packed week was about righting listing ships. Teladoc’s CEO suddenly departs, Amwell at risk of a NYSE delisting–we look at What Happened and what needs to be done. VillageMD gets new COO to manage the shrinkage. And Change Healthcare data on sale from disgruntled ALPHV affiliate. Digital health funding continues to limp along. Clover looks at another delisting, Walmart Health applies the brakes. And we highlight innovations from Novosound, Biolinq, Eko, Universal Brain. Digital health’s Q1 according to Rock Health: the New Reality is a flat spin back to 2019 (Limping, but alive) VillageMD names new president and COO as it shrinks to 620 locations (Ex Centene, Humana exec comes out of short retirement to clean up) News roundup: Now Clover Health faces delisting; BlackCat/ALPHV affiliate with 4TB of data puts it up for sale; $58M for Biolinq’s ‘smallest blood glucose biosensor’ (Will UHG pay more ransom?) Opinion: Further thoughts on Teladoc, Amwell, and the future of telehealth–what happens next? (A hard look at the follies, mistakes, and saving ships) News roundup: Amwell faces NYSE delisting; Walmart Health slows Health Centers, except Texas; Novosound’s ultrasound patent; Eko’s Low EF AI; Universal Brain; Elizabeth Holmes in ‘Dropout’ + update Teladoc CEO Jason Gorevic steps down immediately in shock announcement (Now what?) A damp start to April leads with puzzling news. NeueHealth loses plans and big money in ’23–but gives a big bonus to its CEO. Cano Health reorganizing or selling by June. ATA kicks DOJ about expediting controlled substance telehealth regs. Apple keeps kicking around the ‘Davids’, but Davids won’t stop slinging either. And if you work with a PR or marketing agency, our Perspectives has some advice for you. More New Reality: NeueHealth (Bright Health) CEO’s $1.9M bonus, 2023 financials–and does Cano Health have a future? (Two stories gone way sideways) ATA requests expediting of revised proposed rule on controlled substance telehealth prescribing; announces Nexus 2024 meeting 5-7 May (DEA needs to get moving now, not later) Davids (AliveCor, Masimo) v. Goliath (Apple): the patent infringement game *not* over; Masimo’s messy proxy fight with Politan (updated) (Seeing value in Masimo?) Perspectives: Working with a PR Agency–How to Make the Most of the Partnership (Expert advice if you manage communications) It was a pre-Easter week that started as quiet and got VERY LOUD at the end. Walgreens took the hard road, writing down VillageMD even before the closures were final and lowering forecasts. An important metastudy+ casts doubt on the efficacy of present digital health diabetes solutions but provides solid direction forward. And it’s definitely an early sunny spring for funding, but there’s continued bad weather forecast for UnitedHealth Group and Oracle Cerner’s VA implementation. Facing Future 2: Walgreens]]></description>
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Surprises and shockers abound this week. If Walmart can’t make it in providing basic health services, what hope does a retail model really have? Optum and Walmart exit telehealth, while Teladoc grows–firmly in the red. Change Healthcare’s troubles led to UHG’s CEO grilling on both sides of Congress and humiliation on MFA. MobileHelp PERS up for sale, Owlet’s new partner, fundings, partnerships. And a shrinking Oracle goes to Music City!
<a href="https://telecareaware.com/news-roundup-uhg-ceos-bad-day-at-capitol-hill-kaisers-13-4m-data-breach-walgreens-stock-beatup-cigna-writes-off-villagemd-oracle-cerner-shrinks-50-owlet-babysat-gets-wheel-fundings-for-mi/">News roundup: UHG CEO’s Bad Day at Capitol Hill; Kaiser’s 13.4M data breach; Walgreens’ stock beatup; Cigna writes off VillageMD; Oracle Cerner shrinks 50%; Owlet BabySat gets Wheel; fundings for Midi, Trovo, Alaffia, Klineo </a>(A rough week for some)
<a href="https://telecareaware.com/teladocs-q1-increased-revenue-increased-net-loss-dealing-with-slowing-growth-as-is-cvs-health/">Teladoc’s Q1: increased revenue, increased net loss, dealing with slowing growth–as is CVS Health </a>(Teladoc in existential crisis?) 
<a href="https://telecareaware.com/midweek-news-roundup-optum-exiting-telehealth-laying-off-advocate-health-selling-mobilehelp-va-notifying-15m-veterans-re-change-phi-breach-oracle-moving-to-nashville-maybe/">Midweek news roundup: Optum exiting telehealth, laying off; Advocate Health selling MobileHelp; VA notifying 15M veterans re Change PHI breach, Oracle moving to Nashville–maybe? (updated) </a>(A lot of jettisoning) 
<a href="https://telecareaware.com/walmart-health-shutters-health-centers-walmart-virtual-care-in-sudden-move/">Walmart Health shutters health centers, Walmart Virtual Care, in sudden move (updated–why?)</a> (If Walmart can’t make it…)
Returning to the Cyberattack That Changed Everything, wondering how much and to whom UnitedHealth paid ransom–now that they’ve finally admitted it. Also returning to those Merger Guidelines and how they may change the face of healthcare M&A. VA and DOD hard at work on their EHRs and systems, Lumeris gains a luminous funding, but Optum staff are seeing pink slips.
<a href="https://telecareaware.com/two-studies-telehealth-underutilized-underbilled-even-during-pandemic-and-accounted-for-only-modest-increases-in-costs-quality/">Two studies: Telehealth underutilized, underbilled, even during pandemic–and accounted for only modest increases in costs, and quality</a> (Perhaps undercaptured?) 
<a href="https://telecareaware.com/short-takes-va-seeks-vendor-to-support-ehr-testing-defense-health-seeks-digital-front-door-vendor-gao-recommendations-to-oracle-nonin-partners-with-finlands-medixine-lumeris-gains-100m-equ/">Short takes: VA seeks vendor to support EHR testing; Defense Health seeks ‘digital front door’ vendor; GAO recommendations to Oracle; Nonin partners with Finland’s Medixine; Lumeris gains $100M equity funding</a> 
<a href="https://telecareaware.com/what-the-doj-and-ftc-merger-guidelines-mean-for-healthcare-ma-a-epstein-becker-green-podcast/">What the DOJ and FTC Merger Guidelines mean for healthcare M&A–a Epstein Becker Green podcast</a> (Legal department torture) 
<a href="https://telecareaware.com/breaking-unitedhealth-admits-to-paying-ransomwareistes-on-change-stolen-patient-data/">Breaking: UnitedHealth admits to paying ransomwareistes on Change stolen patient data (updated) </a>(For what and how much?) 
<a href="https://telecareaware.com/who-really-has-the-4tb-of-change-healthcare-data-4-sale-and-in-great-timing-optum-lays-off-a-rumored-20k-say-wot/">Who really has the 4TB of Change Healthcare data 4 sale? And in great timing, Optum lays off a rumored 20K–say wot?</a> (UHG has some ‘splainin’)
Another packed week, with a few baffling events. Leading in bafflement is NeueHealth’s additional $30M from NEA, which now owns 60%. UHG battling on multiple fronts between the Change hacking and the House, Walgreens lays off more to cut costs, VillageMD sued on ad trackers, and Cerebral’s comeuppance costs $7.1M. VA may restart Oracle Cerner implementation, Epic and Particle Health feud. But restoring faith in health tech benefiting a neglected group is TandemStride.
<a href="https://telecareaware.com/tandemstride-launches-platform-to-assist-survivors-of-traumatic-injury-a-personal-look/">TandemStride launches platform to assist survivors of traumatic injury; a personal look</a> (A real care gap) 
<a href="https://telecareaware.com/news-roundup-congress-hammers-absent-uhg-on-change-cyberattack-and-more-10-unhinged-at-hinge-health-steward-health-nears-insolvency-two-chairs-72m-series-c/">News roundup: Congress hammers absent UHG on Change cyberattack–and more; 10% unhinged at Hinge Health; Steward Health nears insolvency; Two Chairs $72M Series C </a>(UHG’s troubles cover the waterfront) 
<a href="https://telecareaware.com/isfteh-student-contest-and-award-2024-deadline-26-april/">ISfTeH student contest and award 2024–deadline 26 April!</a> (Move fast!) 
<a href="https://telecareaware.com/mid-week-short-takes-unitedhealths-1-2b-q1-loss-from-change-attack-another-walgreens-layoff-dexcom-md-revolution-partner-kontakt-io-47-5-raise-gebbs-healthcare-may-sell-for-1b/">Mid-week short takes: UnitedHealth’s $1.2B Q1 loss from Change attack, another Walgreens layoff, Dexcom-MD Revolution partner, Kontakt.io $47.5 raise, GeBBS Healthcare may sell for $1B</a> (Walgreens still downsizing–what’s next) 
<a href="https://telecareaware.com/news-roundup-villagemd-sued-on-meta-pixel-trackers-cerebral-pays-7-1m-ftc-fine-on-data-sharing-cancellation-policy-va-may-resume-oracle-cerner-implementation-during-fy2025-epic-particle-health-d/">News roundup: VillageMD sued on Meta Pixel trackers; Cerebral pays $7.1M FTC fine on data sharing, cancellation policy; VA may resume Oracle Cerner implementation during FY2025; Epic-Particle Health dispute on PHI sharing</a> (Cerebral still in trouble)
<a href="https://telecareaware.com/the-new-reality-bizarro-world-version-neuehealth-gets-30m-loan-increase-from-nea-now-majority-owner/">The New Reality, Bizarro World version: NeueHealth gets $30M loan increase from NEA, now majority owner </a>(Baffling)
This packed week was about righting listing ships. Teladoc’s CEO suddenly departs, Amwell at risk of a NYSE delisting–we look at What Happened and what needs to be done. VillageMD gets new COO to manage the shrinkage. And Change Healthcare data on sale from disgruntled ALPHV affiliate. Digital health funding continues to limp along. Clover looks at another delisting, Walmart Health applies the brakes. And we highlight innovations from Novosound, Biolinq, Eko, Universal Brain.
<a href="https://telecareaware.com/digital-healths-q1-according-to-rock-health-the-new-reality-is-a-flat-spin-back-to-2019/">Digital health’s Q1 according to Rock Health: the New Reality is a flat spin back to 2019</a> (Limping, but alive) 
<a href="https://telecareaware.com/villagemd-names-new-president-and-coo-as-it-shrinks-to-620-locations/">VillageMD names new president and COO as it shrinks to 620 locations</a> (Ex Centene, Humana exec comes out of short retirement to clean up) 
<a href="https://telecareaware.com/news-roundup-now-clover-health-faces-delisting-blackcat-alphv-affiliate-with-4tb-of-data-puts-it-up-for-sale-58m-for-biolinqs-smallest-blood-glucose-biosensor/">News roundup: Now Clover Health faces delisting; BlackCat/ALPHV affiliate with 4TB of data puts it up for sale; $58M for Biolinq’s ‘smallest blood glucose biosensor’</a> (Will UHG pay more ransom?) 
<a href="https://telecareaware.com/opinion-further-thoughts-on-teladoc-amwell-and-the-future-of-telehealth-what-happens-next/">Opinion: Further thoughts on Teladoc, Amwell, and the future of telehealth–what happens next?</a> (A hard look at the follies, mistakes, and saving ships) 
<a href="https://telecareaware.com/news-roundup-amwell-faces-nyse-delisting-walmart-health-slows-health-centers-except-texas-novosounds-ultrasound-patent-ekos-low-ef-ai-universal-brain-elizabeth-holmes-in-dropout-updat/">News roundup: Amwell faces NYSE delisting; Walmart Health slows Health Centers, except Texas; Novosound’s ultrasound patent; Eko’s Low EF AI; Universal Brain; Elizabeth Holmes in ‘Dropout’ + update</a> 
<a href="https://telecareaware.com/teladoc-ceo-jason-gorevic-steps-down-immediately-in-shock-announcement/">Teladoc CEO Jason Gorevic steps down immediately in shock announcement</a> (Now what?)
A damp start to April leads with puzzling news. NeueHealth loses plans and big money in ’23–but gives a big bonus to its CEO. Cano Health reorganizing or selling by June. ATA kicks DOJ about expediting controlled substance telehealth regs. Apple keeps kicking around the ‘Davids’, but Davids won’t stop slinging either. And if you work with a PR or marketing agency, our Perspectives has some advice for you.
<a href="https://telecareaware.com/more-new-reality-neuehealth-bright-health-ceos-1-9m-bonus-2023-financials-and-does-cano-health-have-a-future/">More New Reality: NeueHealth (Bright Health) CEO’s $1.9M bonus, 2023 financials–and does Cano Health have a future?</a> (Two stories gone way sideways) 
<a href="https://telecareaware.com/ata-requests-expediting-of-revised-proposed-rule-on-controlled-substance-telehealth-prescribing-announces-nexus-2024-meeting-5-7-may/">ATA requests expediting of revised proposed rule on controlled substance telehealth prescribing; announces Nexus 2024 meeting 5-7 May</a> (DEA needs to get moving now, not later) 
<a href="https://telecareaware.com/davids-alivecor-masimo-v-goliath-apple-the-patent-infringement-game-not-over-masimos-proxy-fight-with-politan/">Davids (AliveCor, Masimo) v. Goliath (Apple): the patent infringement game *not* over; Masimo’s messy proxy fight with Politan (updated)</a> (Seeing value in Masimo?) 
<a href="https://telecareaware.com/perspectives-working-with-a-pr-agency-how-to-make-the-most-of-the-partnership/">Perspectives: Working with a PR Agency–How to Make the Most of the Partnership</a> (Expert advice if you manage communications)
It was a pre-Easter week that started as quiet and got VERY LOUD at the end. Walgreens took the hard road, writing down VillageMD even before the closures were final and lowering forecasts. An important metastudy+ casts doubt on the efficacy of present digital health diabetes solutions but provides solid direction forward. And it’s definitely an early sunny spring for funding, but there’s continued bad weather forecast for UnitedHealth Group and Oracle Cerner’s VA implementation.
<a href="https://telecareaware.com/facing-future-2-walgreens-writes-down-5-8b-for-villagemd-in-q2-lowers-2024-earnings-on-challenging-retail-outlook/">Facing Future 2: Walgreens writes down $5.8B for VillageMD in Q2, lowers 2024 earnings on ‘challenging’ retail outlook </a>(Biting bullet early and hard) 
<a href="https://telecareaware.com/short-takes-pockethealth-brightside-fundings-va-oig-reports-hit-oracle-cerner-change-cyberattack-legal-updates-uhg-amedisys-reviewed-in-oregon-optum-to-buy-steward-health-practices/">Short takes: PocketHealth, Brightside fundings; VA OIG reports hit Oracle Cerner; Change cyberattack/legal updates; UHG-Amedisys reviewed in Oregon; Optum to buy Steward Health practices</a> (UHG carries on as does company funding) 
<a href="https://telecareaware.com/can-digital-health-rpm-achieve-meaningful-change-with-type-2-diabetics-new-metastudy-expresses-doubt/">Can digital health RPM achieve meaningful change with type 2 diabetics? New metastudy expresses doubt.</a> (Major digital health findings from PHTI)
This week’s Big Quake was DOJ’s antitrust suit against Apple for smartphone monopoly and control over apps. Another quake: 2023 data breaches were up 187%–when a medical record is worth $60, it’s logical. Early-stage funding and partnerships are back with a roar when AI’s in your portfolio. And Walgreens shrinks both VillageMD and distribution.
<a href="https://telecareaware.com/2023-us-data-breaches-topped-171m-records-up-187-versus-2022-protenus-breach-barometer/">2023 US data breaches topped 171M records, up 187% versus 2022: Protenus Breach Barometer </a>(And that was LAST year!) 
<a href="https://telecareaware.com/why-is-the-us-doj-filing-an-antitrust-lawsuit-against-apple-on-monopolizing-the-smartphone-market/">Why is the US DOJ filing an antitrust lawsuit against Apple–on monopolizing the smartphone market? </a>(One wonders) 
<a href="https://telecareaware.com/mid-week-roundup-uk-startup-anima-gains-12m-hippocratic-ai-53m-assort-health-3-5m-abridge-partners-with-nvidia-villagemd-sells-11-rhode-island-clinics-60-for-that-medical-record-on-the-dark/">Mid-week roundup: UK startup Anima gains $12M, Hippocratic AI $53M, Assort Health $3.5M; Abridge partners with NVIDIA; VillageMD sells 11 Rhode Island clinics; $60 for that medical record on the dark web </a>(Funding’s back and AI’s got it)
<a href="https://telecareaware.com/walgreens-latest-cuts-affect-646-at-florida-connecticut-distribution-centers/">Walgreens’ latest cuts affect 646 at Florida, Connecticut distribution centers</a> (More in next week’s financial call)
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Donna Cusano, Editor In Chief 
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<title>News roundup: UHG CEO’s Bad Day at Capitol Hill; Kaiser’s 13.4M data breach; Walgreens’ stock beatup; Cigna writes off VillageMD; Oracle Cerner shrinks 50%; Owlet BabySat gets Wheel; fundings for Midi, Trovo, Alaffia, Klineo</title>
<link>https://telecareaware.com/news-roundup-uhg-ceos-bad-day-at-capitol-hill-kaisers-13-4m-data-breach-walgreens-stock-beatup-cigna-writes-off-villagemd-oracle-cerner-shrinks-50-owlet-babysat-gets-wheel-fundings-for-mi/</link>
<comments>https://telecareaware.com/news-roundup-uhg-ceos-bad-day-at-capitol-hill-kaisers-13-4m-data-breach-walgreens-stock-beatup-cigna-writes-off-villagemd-oracle-cerner-shrinks-50-owlet-babysat-gets-wheel-fundings-for-mi/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Thu, 02 May 2024 20:11:23 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[Opinion]]></category>
<category><![CDATA[Alaffia]]></category>
<category><![CDATA[ALPHV]]></category>
<category><![CDATA[AlphV/BlackCat]]></category>
<category><![CDATA[BabySat]]></category>
<category><![CDATA[Cerner]]></category>
<category><![CDATA[Change Healthcare]]></category>
<category><![CDATA[Cigna]]></category>
<category><![CDATA[Klineo]]></category>
<category><![CDATA[MidiHealth]]></category>
<category><![CDATA[Oracle Health]]></category>
<category><![CDATA[Owlet]]></category>
<category><![CDATA[Trovo Health]]></category>
<category><![CDATA[UnitedHealth Group]]></category>
<category><![CDATA[VillageMD]]></category>
<category><![CDATA[Walgreens]]></category>
<category><![CDATA[WBA]]></category>
<category><![CDATA[Wheel]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37268</guid>
<description><![CDATA[It was a Bad Day at Boot (Capitol) Hill for UnitedHealth Group’s CEO Andrew Witty. On May Day, he was the Man In The Arena facing two Congressional grillings–the first from the Senate Finance Committee in the morning, and the second in the afternoon from the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations. The precipitating event was the Optum/Change Healthcare data breach and system hacking by ALPHV/BlackCat, a disruption which is as of today not fully resolved. Millions of patients may have had data stolen and exposed–a number that has yet to be determined, but an outcome for which UHG, while paying the ransomwaristes, has prepared. Already, the VA has notified 15 million veterans and families of that possibility. This Editor will be linking below to multiple articles and Mr. Witty’s prepared testimony. Interested Readers can also refer to YouTube for extensive links to video testimony. Highlights: Both houses criticized the slow response and amount of financial assistance given to providers after the shutdown of Change’s systems prevented (and still is preventing) timely claims processing and payment. While ‘near normal’ volumes of medical claims and 86% restoration of payment processing sounds good, that leaves a lot of wiggle room on over two months of totally disrupted processing and payment. The billion or so cited sounds impressive but much of this is in loans. Most practices and groups simply do not have the financial cushion or billing skillset to bridge this disruption, to pay back loans, or to bookkeep this. Also criticized at this late date was UHG being unable to determine how many individuals had PHI exposed in the breach. As to cause, the description of UHG finding that surprise, surprise, Change’s systems were way out of date, stored on physical servers versus the cloud, and used Citrix remote access without multi-factor authentication (MFA) was utterly savaged. According to Mr. Witty, ALPHV after days of knocking around got in on the one server that did not have MFA authentication. The blunt fact is that UHG had close to two years (January 2021-Oct 2022) before the buy closed. Due diligence consisting of a full audit had to have been done on Change’s IT systems. They processed what UHG wanted to buy. In this Editor’s estimation, Job #1! for UHG should have been ensuring that Change’s systems were hardened, then upgrading to what Mr. Witty called UnitedHealth’s standards. This Editor will go further. A minimum requirement for the sale should have been security hardening. There was time before the closing. Senator Thom Tillis, R-North Carolina, had the best riposte. He brought a copy of “Hacking for Dummies” to the hearing, highlighting MFA. I doubt he was much moved by UHG now bringing in cybersecurity company Mandiant to both investigate and harden their systems, nor by UHG having to pay ransom, without knowing whose data was compromised. Beyond the breach, UHG was called ‘monopolistic’ by both Republican and Democrat Members. There were calls to break up UHG as not ‘too big to fail’. UHG has grown by acquisition and consolidation of services. As this Editor has speculated, this is likely coming to an end with the new, much more stringent Merger Guidelines. This sentiment paints a large, unmissable target on UHG’s back for aiming FTC’s and DOJ’s missiles. (DOJ also has a huge score to settle with UHG dating back to the failure to block the Change sale.) By the end of the day, Mr. Witty looked quite the worse for wear–tie and collar askew, slightly sweaty, versus the perfect poses of the various Members. Becker’s, FierceHealthcare, Axios, HealthcareDive Mr. Witty’s Senate testimony statement, House testimony statement Speaking of data breaches, Kaiser Permanente reported a big one to Health and Human Services (HHS). This relates to ad tracker information shared with third-party advertisers such as Google, Microsoft, and X. Kaiser used it in secured areas of their website and mobile apps. Information disclosed could be name and IP. Kaiser reported it on 12 April but only disclosed on 25 April that 13.4 million records may have been affected. The ad trackers have since been removed. TechCrunch, FierceHealthcare Walgreens stock not recovering. April was WBA’s worst month in five years and May is no better, with the stock muddling around $17.50. The month slid around 18%. Their 52-week high was $33. As of now, CEO Tim Wentworth’s actions such as closing locations and writing down VillageMD haven’t convinced Mr. Market of WBA’s worth, but in fairness it’s early in his tenure. In the Insult to Injury Department, it was revealed that the IRS is seeking to claw back $2.7 billion in unpaid 2014-2017 taxes. Crain’s Chicago Business Cigna is also writing down its interest in VillageMD. Almost forgotten is that in late 2022, Cigna invested $2.5 billion into VillageMD. They have now written down $1.8 billion of that ‘low teens’ ownership. The planned tie was connecting Village Medical into Evernorth, Cigna’s medical services area. It was also supposed to provide Cigna with an annual return on investment, but one assumes it did not. The writeoff threw Cigna’s Q1 into the red with a net loss of almost $300 million versus a prior year profit of $1.3 billion, despite a strong quarter that grew revenue 23% versus prior year to $57.3 billion. Healthcare Dive Oracle Health has been successful–in shrinking Cerner by close to half. Records of employment at Cerner’s Kansas City-based operation have declined from 11,900 people in 2022 (Kansas City Area Development Council) to a current 6,400 (internal documents). Cerner itself reported 12,778 local full-time-equivalent employees in 2022. Oracle had multiple layoffs of Cerner affecting Kansas City workers and has consolidated multiple office buildings and campuses. Becker’s In more cheerful news: Baby monitor Owlet announced a strategic partnership with Wheel for Owlet’s BabySat. BabySat is Owlet’s FDA-cleared prescription vital signs monitor for infants 1-18 months. Wheel clinicians can now prescribe BabySat which enables parents to order BabySat from Owlet and other suppliers. With Wheel, BabySat also integrates with durable medical equipment (DME)]]></description>
<content:encoded><![CDATA[It was a Bad Day at Boot (Capitol) Hill for UnitedHealth Group’s CEO Andrew Witty. On May Day, he was the Man In The Arena facing two Congressional grillings–the first from the Senate Finance Committee in the morning, and the second in the afternoon from the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations. The precipitating event was the Optum/Change Healthcare data breach and system hacking by ALPHV/BlackCat, a disruption which is as of today not fully resolved. Millions of patients may have had data stolen and exposed–a number that has yet to be determined, but an outcome for which <a href="https://telecareaware.com/breaking-unitedhealth-admits-to-paying-ransomwareistes-on-change-stolen-patient-data/" target="_blank" rel="noopener">UHG, while paying the ransomwaristes, has prepared.</a> Already, t<a href="https://telecareaware.com/midweek-news-roundup-optum-exiting-telehealth-laying-off-advocate-health-selling-mobilehelp-va-notifying-15m-veterans-re-change-phi-breach-oracle-moving-to-nashville-maybe/" target="_blank" rel="noopener">he VA has notified 15 million veterans and families</a> of that possibility.
This Editor will be linking below to multiple articles and Mr. Witty’s prepared testimony. Interested Readers can also refer to YouTube for extensive links to video testimony. Highlights:
<ul>
<li>Both houses criticized the slow response and amount of financial assistance given to providers after the shutdown of Change’s systems prevented (and still is preventing) timely claims processing and payment. While ‘near normal’ volumes of medical claims and 86% restoration of payment processing sounds good, that leaves a lot of wiggle room on over two months of totally disrupted processing and payment. The billion or so cited sounds impressive but much of this is in loans. Most practices and groups simply do not have the financial cushion or billing skillset to bridge this disruption, to pay back loans, or to bookkeep this.</li>
<li>Also criticized at this late date was UHG being unable to determine how many individuals had PHI exposed in the breach.</li>
<li>As to cause, the description of UHG finding that surprise, surprise, Change’s systems were way out of date, stored on physical servers versus the cloud, and used Citrix remote access without multi-factor authentication (MFA) was utterly savaged. According to Mr. Witty, ALPHV after days of knocking around got in on the one server that did not have MFA authentication.</li>
</ul>
The blunt fact is that UHG had close to two years (January 2021-Oct 2022) before the buy closed. Due diligence consisting of a full audit had to have been done on Change’s IT systems. They processed what UHG wanted to buy. In this Editor’s estimation, Job #1! for UHG should have been ensuring that Change’s systems were hardened, then upgrading to what Mr. Witty called UnitedHealth’s standards. This Editor will go further. A minimum requirement for the sale should have been security hardening. There was time before the closing.
Senator Thom Tillis, R-North Carolina, had the best riposte. He brought a copy of “Hacking for Dummies” to the hearing, highlighting MFA. I doubt he was much moved by UHG now bringing in cybersecurity company Mandiant to both investigate and harden their systems, nor by UHG having to pay ransom, without knowing whose data was compromised.
<ul>
<li>Beyond the breach, UHG was called ‘monopolistic’ by both Republican and Democrat Members. There were calls to break up UHG as not ‘too big to fail’. UHG has grown by acquisition and consolidation of services. As this Editor has speculated, this is <a href="https://telecareaware.com/what-the-doj-and-ftc-merger-guidelines-mean-for-healthcare-ma-a-epstein-becker-green-podcast/" target="_blank" rel="noopener">likely coming to an end</a> with the new, much more stringent Merger Guidelines. This sentiment paints a large, unmissable target on UHG’s back for aiming FTC’s and DOJ’s missiles. (DOJ also has a huge score to settle with UHG dating back to the <a href="https://telecareaware.com/doj-drops-appeal-to-block-uhg-change-more-hints-that-ftc-will-be-hunting-big-game-with-amazon/" target="_blank" rel="noopener">failure to block the Change sale</a>.)</li>
</ul>
By the end of the day, Mr. Witty looked quite the worse for wear–tie and collar askew, slightly sweaty, versus the perfect poses of the various Members. <a href="https://www.beckershospitalreview.com/finance/a-crisis-of-your-creating-unitedhealth-ceo-grilled-by-congress-on-cyberattack.html" target="_blank" rel="noopener">Becker’s</a>, <a href="https://www.fiercehealthcare.com/payers/too-big-fail-consolidation-concerns-loom-over-hearing-change-healthcare-cyberattack" target="_blank" rel="noopener">FierceHealthcare,</a><a href="https://www.axios.com/2024/05/02/united-health-hack-ceo-congress" target="_blank" rel="noopener"> Axios</a>, <a href="https://www.healthcaredive.com/news/change-healthcare-cyberattack-congress-unitedhealth-andrew-witty/714954/" target="_blank" rel="noopener">HealthcareDive</a> Mr. Witty’s <a href="https://www.finance.senate.gov/imo/media/doc/0501_witty_testimony.pdf" target="_blank" rel="noopener">Senate testimony statement</a>, <a href="https://d1dth6e84htgma.cloudfront.net/Witty_Testimony_OI_Hearing_05_01_24_5ff52a2d11.pdf" target="_blank" rel="noopener">House testimony statement</a>
Speaking of data breaches, Kaiser Permanente reported a big one to Health and Human Services (HHS). This relates to ad tracker information shared with third-party advertisers such as Google, Microsoft, and X. Kaiser used it in secured areas of their website and mobile apps. Information disclosed could be name and IP. Kaiser reported it on 12 April but only disclosed on 25 April that 13.4 million records may have been affected. The ad trackers have since been removed. <a href="https://techcrunch.com/2024/04/25/kaiser-permanente-health-plan-millions-data-breach/" target="_blank" rel="noopener">TechCrunch</a>, <a href="https://www.fiercehealthcare.com/providers/kaiser-permanente-says-134m-impacted-data-breach" target="_blank" rel="noopener">FierceHealthcare </a>
Walgreens stock not recovering. April was WBA’s worst month in five years and May is no better, with the stock muddling around $17.50. The month slid around 18%. Their 52-week high was $33. As of now, CEO Tim Wentworth’s actions such as closing locations and writing down VillageMD haven’t convinced Mr. Market of WBA’s worth, but in fairness it’s early in his tenure. In the Insult to Injury Department, it was revealed that the <a href="https://archive.ph/o/R0HTO/https://www.chicagobusiness.com/health-care/walgreens-hit-tax-bill-after-irs-audit" target="_blank" rel="noopener" data-omnilink="editorial-link" data-omnilocation="articlebody">IRS is seeking to claw back $2.7 billion</a> in unpaid 2014-2017 taxes. <a href="https://archive.ph/R0HTO#selection-2509.174-2513.17" target="_blank" rel="noopener">Crain’s Chicago Business</a>
Cigna is also writing down its interest in VillageMD. Almost forgotten is that in late 2022, <a href="https://www.healthcaredive.com/news/cigna-evernorth-villagemd-investment-walgreens-summit-value-based-care/636116/" target="_blank" rel="noopener">Cigna invested $2.5 billion into VillageMD</a>. They have now written down $1.8 billion of that ‘low teens’ ownership. The planned tie was connecting Village Medical into Evernorth, Cigna’s medical services area. It was also supposed to provide Cigna with an annual return on investment, but one assumes it did not. The writeoff threw Cigna’s Q1 into the red with a net loss of almost $300 million versus a prior year profit of $1.3 billion, despite a strong quarter that grew revenue 23% versus prior year to $57.3 billion. <a href="https://www.healthcaredive.com/news/cigna-villagemd-writedown-walgreens-q1-2024/714966/" target="_blank" rel="noopener">Healthcare Dive</a>
Oracle Health has been successful–in shrinking Cerner by close to half. Records of employment at Cerner’s Kansas City-based operation have declined from 11,900 people in 2022 (Kansas City Area Development Council) to a current 6,400 (internal documents). Cerner itself reported 12,778 local full-time-equivalent employees in 2022. Oracle had multiple layoffs of Cerner affecting Kansas City workers and has consolidated multiple office buildings and campuses. <a href="https://www.beckershospitalreview.com/ehrs/oracle-health-workforce-steadily-decreases.html" target="_blank" rel="noopener">Becker’s</a>
In more cheerful news:
<a href="https://telecareaware.com/wednesday-roundup-owlet-babysat-monitor-clears-fda-rosarium-health-seed-1-7m-led-by-rock-health-optum-startup-studio-shuts-carerev-lays-off-100-changes-ceos-pet-telehealth-fuzzy-shuts-leaves-w/owlet-babysat/" rel="attachment wp-att-36062"><img decoding="async" class="alignleft wp-image-36062" src="https://telecareaware.com/wp-content/uploads/2023/06/Owlet-Babysat.jpg" alt="" width="143" height="124" srcset="https://telecareaware.com/wp-content/uploads/2023/06/Owlet-Babysat.jpg 491w, https://telecareaware.com/wp-content/uploads/2023/06/Owlet-Babysat-300x260.jpg 300w" sizes="(max-width: 143px) 100vw, 143px" /></a>Baby monitor Owlet announced a strategic partnership with <a href="https://www.wheel.com/" target="_blank" rel="noopener">Wheel</a> for Owlet’s <a href="https://owletcare.com/products/fda-cleared-babysat" target="_blank" rel="noopener">BabySat</a>. BabySat is Owlet’s FDA-cleared prescription vital signs monitor for infants 1-18 months. Wheel clinicians can now prescribe BabySat which enables parents to order BabySat from Owlet and other suppliers. With Wheel, BabySat also integrates with durable medical equipment (DME) suppliers who accept and can bill for the product through many insurance providers for partial or full reimbursement. Wheel is a virtual care platform and physician/nurse-practitioner online network available direct to consumer and to enterprises. <a href="https://www.businesswire.com/news/home/20240425179815/en/Owlet-Forges-Groundbreaking-Partnership-with-Wheel-to-Launch-Virtual-TeleHealth-Services-Platform" target="_blank" rel="noopener">Owlet release</a>
And rounding up funding:
MidiHealth closed a $60M Series B funding. This was led by Emerson Collective with participation from Memorial Hermann, SemperVirens, Felicis, Icon Ventures, Black Angel Group, Gingerbread Capital, Able Partners, G9, and Operator Collective for a total of $99 million in funding. Midi provides virtual support for women going through peri- and full menopause. The fresh funding will help them expand national insurance coverage, hire and upskill an additional 150 clinicians by end of year, diversify service lines, and scale to care for 1 million+ women per year by 2029. <a href="https://www.prnewswire.com/news-releases/midi-health-the-fastest-growing-virtual-clinic-for-perimenopause-and-menopause-raises-an-additional-60m-in-series-b-round--100m-total-funding-to-date--to-transform-womens-healthcare-302125839.html#:~:text=LOS%20ALTOS%2C%20Calif.%2C%20April,date%20to%20%24100M.%20Additional" target="_blank" rel="noopener">Release</a>
Trovo Health launched with $15 million in seed funding, led by Oak HC/FT. The NYC-based AI-powered provider task assistance platform will use the funding to build its technology platform, clinical operations, and leadership team. <a href="https://www.mobihealthnews.com/news/trovo-health-launches-15m-and-other-digital-health-fundings" target="_blank" rel="noopener">Mobihealthnews</a> 
In the same roundup, NYC-based <a href="https://www.alaffiahealth.com/" target="_blank" rel="noopener">Alaffia Health </a>scored a $10 million Series A round. This was led by FirstMark Capital with participation from Aperture Venture Capital. Alaffia creates generative AI solutions for payment integrity in health insurance claims operations, with the aim of eliminating insurance fraud, waste, and abuse for health plans, third-party administrators, self-insured employers, stop-loss carriers, and government agencies. Their total raise to date is $17.6 million. Paris-based <a href="https://www.klineo.fr/" target="_blank" rel="noopener">Klineo</a> also raised €2 million for its oncology clinical trials search platforms, assisted by AI, for the use of doctors and patients. BPIFrance and business angels participated in the round.
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<title>Teladoc’s Q1: increased revenue, increased net loss, dealing with slowing growth–as is CVS Health</title>
<link>https://telecareaware.com/teladocs-q1-increased-revenue-increased-net-loss-dealing-with-slowing-growth-as-is-cvs-health/</link>
<comments>https://telecareaware.com/teladocs-q1-increased-revenue-increased-net-loss-dealing-with-slowing-growth-as-is-cvs-health/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Thu, 02 May 2024 01:40:48 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[Opinion]]></category>
<category><![CDATA[Aetna]]></category>
<category><![CDATA[BetterHelp]]></category>
<category><![CDATA[CVS Health]]></category>
<category><![CDATA[Medicare Advantage]]></category>
<category><![CDATA[Teladoc]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37262</guid>
<description><![CDATA[Teladoc had a passable Q1, given the sudden departure of their CEO, a lackluster 2023, and a downbeat (realistic?) 2024 forecast. The highlights were versus Q1 prior year: Revenue increased 3% to $646.1 million. This exceeded their 2024 projection of $630 to $645 million but the percentage increase is below the 5.2% Teladoc is forecasting for the full year. Their US revenue grew 1% to $547.6 million while international revenue grew 13% to $98.5 million. But net loss also increased far more on a percentage basis–18% to $81.9 million, or $0.49 per share. Some of the loss was due to stock-based compensation expense, severance expenses, and amortization of acquired intangibles. Due to these, the increased revenue did not offset or narrow losses. Adjusted EBIDTA increased 20% to $63.1 million, which is positive. Looking at their main market segments, their Integrated Care segment revenue grew 8% to $377.1 million, Once again, BetterHelp, their behavioral telehealth unit and one-time hope for growth, continued to disappoint with a 4% decrease in revenue to $269.0 million. The forecast for Q2 is: Revenue $635 – $660 million Net loss per share ($0.45) – ($0.35), slightly lower than Q1 Adjusted EBITDA $70 – $80 million Integrated Care’s forecast is an increase of 2 to 5% in revenue, while BetterHelp’s remains weak with a decrease of 4 to 8% in revenue. So far, cutting costs, higher margins, cutting jobs in data science and engineering, third-party (supplier?) costs, and getting on that ‘path to profitability’ has had limited results, at least to Mr. Market which continues to drop the stock–40% to date and deteriorating. On the earnings call, interim CEO and CFO Mala Murthy, in referring to this, said “We are not waiting. We have a plan to deliver, we have investments to execute, and that is absolutely our focus.” Will Mr. Market believe this in a shrinking market? The search for a permanent CEO is underway, and the replacement is expected to be named later this year. Teladoc release, Mobihealthnews, FierceHealthcare The broader meaning? This Editor explored what happened at Teladoc and the aftermath after some of the dust settled [TTA 9 April]. The Teladoc foundational model as a stand-alone, mostly urgent care service is not growing but shrinking. It doesn’t coordinate care nor does it integrate well into providers. While the pandemic gave that model a lift, it also boosted integrated services as modules into patient portals, EHRs, population health, and other provider-based platforms. Among higher care need Medicare beneficiaries, usage was there but minimal detailed in two recent studies. Even asynchronous and telephonic telehealth gained since they were reimbursed or low cost. Before, during, and after the pandemic, there were too many telehealth companies for the limited demand. Add in the continuing proliferation of telementalhealth providers, still popping up like tulips in spring–another reason why BetterHelp, one of the earlier entrants, isn’t getting traction. FierceHealthcare adds more points such as over-supply cratering price (and the revenue model) and hybridization: white-labeling with providers, virtual specialty clinics such as those under Included Health’s, and partnerships with health plans and employers. CVS Health’s Q1 also wasn’t swell for reasons that are impacting their full year. High medical costs affected their Aetna plans, with high utilization in Medicare Advantage, inpatient admissions, and outpatient services were all high in Q1–$900 million higher than CVS expected. Lower MA STAR ratings will affect their forward Federal reimbursements, with one of their largest MA plans falling from 4.5 to 3.5 rating in 2024. According to CEO Karen Lynch, most of this utilization was from a patient usage reversion to pre-pandemic patterns. Their Q1 revenue of $88.4 billion was up 4% versus prior year with net income falling by almost half to $1.1 billion, both significantly below analysts’ expectations. CVS adjusted their full year downward, which led to their stock falling another 19%. Change Healthcare’s data breach is also affecting their forecasts with delayed claims, leading CVS to set a reserve of $500 million. HealthcareDive]]></description>
<content:encoded><![CDATA[<a href="https://telecareaware.com/thursday-news-roundup-cigna-deploys-over-12b-for-investment-cerners-feinberg-to-humana-board-teladoc-on-amazon-alexa-admitting-livongo-problems-and-xrhealth-vr-therapy-scores-10m/piggy-gdf0730c8d_1920-crop/" rel="attachment wp-att-34654"><img decoding="async" class="alignleft wp-image-34654" src="https://telecareaware.com/wp-content/uploads/2022/03/piggy-gdf0730c8d_1920-crop.png" alt="" width="191" height="214" srcset="https://telecareaware.com/wp-content/uploads/2022/03/piggy-gdf0730c8d_1920-crop.png 656w, https://telecareaware.com/wp-content/uploads/2022/03/piggy-gdf0730c8d_1920-crop-269x300.png 269w" sizes="(max-width: 191px) 100vw, 191px" /></a>Teladoc had a passable Q1, given the <a href="https://telecareaware.com/teladoc-ceo-jason-gorevic-steps-down-immediately-in-shock-announcement/" target="_blank" rel="noopener">sudden departure of their CEO</a>, a lackluster 2023, and a downbeat (realistic?) 2024 forecast. The highlights were versus Q1 prior year:
<ul>
<li>Revenue increased 3% to $646.1 million. This exceeded their <a href="https://telecareaware.com/teladoc-closes-2023-with-improved-220m-loss-but-weak-forecast-for-2024-leads-to-stock-skid/" target="_blank" rel="noopener">2024 projection</a> of $630 to $645 million but the percentage increase is below the 5.2% Teladoc is forecasting for the full year. Their US revenue grew 1% to $547.6 million while international revenue grew 13% to $98.5 million.</li>
<li>But net loss also increased far more on a percentage basis–18% to $81.9 million, or $0.49 per share. Some of the loss was due to stock-based compensation expense, severance expenses, and amortization of acquired intangibles. Due to these, the increased revenue did not offset or narrow losses.</li>
<li>Adjusted EBIDTA increased 20% to $63.1 million, which is positive.</li>
</ul>
Looking at their main market segments, their Integrated Care segment revenue grew 8% to $377.1 million, Once again, BetterHelp, their behavioral telehealth unit and one-time hope for growth, continued to disappoint with a 4% decrease in revenue to $269.0 million.
The forecast for Q2 is: 
<ul>
<li>Revenue $635 – $660 million</li>
<li>Net loss per share ($0.45) – ($0.35), slightly lower than Q1</li>
<li>Adjusted EBITDA $70 – $80 million</li>
</ul>
Integrated Care’s forecast is an increase of 2 to 5% in revenue, while BetterHelp’s remains weak with a decrease of 4 to 8% in revenue.
So far, cutting costs, higher margins, cutting jobs in data science and engineering, third-party (supplier?) costs, and getting on that ‘path to profitability’ has had limited results, at least to Mr. Market which continues to drop the stock–40% to date and deteriorating. On the earnings call, interim CEO and CFO Mala Murthy, in referring to this, said “We are not waiting. We have a plan to deliver, we have investments to execute, and that is absolutely our focus.” Will Mr. Market believe this in a shrinking market? The search for a permanent CEO is underway, and the replacement is expected to be named later this year. <a href="https://ir.teladochealth.com/news-and-events/investor-news/press-release-details/2024/Teladoc-Health-Reports-First-Quarter-2024-Results/default.aspx#:~:text=U.S.%20revenue%20grew%201%25%20to,decreased%204%25%20to%20%24269.0%20million." target="_blank" rel="noopener">Teladoc release</a>, <a href="https://www.mobihealthnews.com/news/teladoc-reports-3-increase-revenue-646m-q1-2024" target="_blank" rel="noopener">Mobihealthnews</a>, <a href="https://www.fiercehealthcare.com/health-tech/amid-major-leadership-change-teladoc-forecasts-slowing-growth-behavioral-health" target="_blank" rel="noopener">FierceHealthcare</a>
The broader meaning? This Editor explored what happened at Teladoc and the aftermath after some of the dust settled [<a href="https://telecareaware.com/opinion-further-thoughts-on-teladoc-amwell-and-the-future-of-telehealth-what-happens-next/" target="_blank" rel="noopener">TTA 9 April</a>]. The Teladoc foundational model as a stand-alone, mostly urgent care service is not growing but shrinking. It doesn’t coordinate care nor does it integrate well into providers. While the pandemic gave that model a lift, it also boosted integrated services as modules into patient portals, EHRs, population health, and other provider-based platforms. Among higher care need Medicare beneficiaries, usage was there but minimal <a href="https://telecareaware.com/two-studies-telehealth-underutilized-underbilled-even-during-pandemic-and-accounted-for-only-modest-increases-in-costs-quality/" target="_blank" rel="noopener">detailed in two recent studies</a>. Even asynchronous and telephonic telehealth gained since they were reimbursed or low cost. Before, during, and after the pandemic, there were too many telehealth companies for the limited demand. Add in the continuing proliferation of telementalhealth providers, still popping up like tulips in spring–another reason why BetterHelp, one of the earlier entrants, isn’t getting traction. <a href="https://www.fiercehealthcare.com/health-tech/how-walmart-and-optum-exiting-telehealth-signals-major-shift-virtual-care-market" target="_blank" rel="noopener">FierceHealthcare</a> adds more points such as over-supply cratering price (and the revenue model) and hybridization: white-labeling with providers, virtual specialty clinics such as those under Included Health’s, and partnerships with health plans and employers.
CVS Health’s Q1 also wasn’t swell for reasons that are impacting their full year. High medical costs affected their Aetna plans, with high utilization in Medicare Advantage, inpatient admissions, and outpatient services were all high in Q1–$900 million higher than CVS expected. Lower MA STAR ratings will affect their forward Federal reimbursements, with one of their largest MA plans falling from 4.5 to 3.5 rating in 2024. According to CEO Karen Lynch, most of this utilization was from a patient usage reversion to pre-pandemic patterns. Their Q1 revenue of $88.4 billion was up 4% versus prior year with net income falling by almost half to $1.1 billion, both significantly below analysts’ expectations. CVS adjusted their full year downward, which led to their stock falling another 19%. Change Healthcare’s data breach is also affecting their forecasts with delayed claims, leading CVS to set a reserve of $500 million. <a href="https://www.healthcaredive.com/news/cvs-2024-forecast-cut-medicare-inpatient-q1/714807/" target="_blank" rel="noopener">HealthcareDive</a>
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<title>Midweek news roundup: Optum exiting telehealth, laying off; Advocate Health selling MobileHelp; VA notifying 15M veterans re Change PHI breach, Oracle moving to Nashville–maybe? (updated)</title>
<link>https://telecareaware.com/midweek-news-roundup-optum-exiting-telehealth-laying-off-advocate-health-selling-mobilehelp-va-notifying-15m-veterans-re-change-phi-breach-oracle-moving-to-nashville-maybe/</link>
<comments>https://telecareaware.com/midweek-news-roundup-optum-exiting-telehealth-laying-off-advocate-health-selling-mobilehelp-va-notifying-15m-veterans-re-change-phi-breach-oracle-moving-to-nashville-maybe/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Wed, 01 May 2024 00:47:55 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[Opinion]]></category>
<category><![CDATA[Soapbox]]></category>
<category><![CDATA[Advocate Health]]></category>
<category><![CDATA[Change Healthcare]]></category>
<category><![CDATA[Clear Arch]]></category>
<category><![CDATA[Data breach]]></category>
<category><![CDATA[Frist Cressey Ventures]]></category>
<category><![CDATA[HHS]]></category>
<category><![CDATA[MobileHelp]]></category>
<category><![CDATA[Nashville]]></category>
<category><![CDATA[Optum]]></category>
<category><![CDATA[Optum Virtual Health]]></category>
<category><![CDATA[Oracle]]></category>
<category><![CDATA[telehealth]]></category>
<category><![CDATA[UnitedHealth Group]]></category>
<category><![CDATA[va]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37248</guid>
<description><![CDATA[Optum Virtual Care closing, staff layoffs in progress. Optum Everycare CEO Jennifer Phalen on an 18 April internal conference call announced that the unit would close. According to sources, some employees would have layoff dates in July. No further details were available on other layoffs or plans for integrating Virtual Care’s capabilities into other Optum units, except for generalities. “We are committed to providing patients with a robust network of providers for virtual urgent, primary and specialty care options,” and “We continually review the capabilities and services we offer to meet the growing and evolving needs of our businesses and the people we serve.” a spokesperson for UnitedHealth said to Endpoints, a biopharma publication from the University of Kansas which broke the story. For Optum, this is the second shoe drop about layoffs and closures in less than two weeks. Reports from social media and layoff-specific boards indicated that thousands were being laid off, from their plans to urgent care and providers [TTA 23 Apr]. These were not confirmed by Optum nor by UnitedHealth Group. It’s not known if this unit’s closure was included in the total. The larger picture is that it is symptomatic of the sudden growth, then equally sudden consolidation, of general telehealth. Optum opened the unit in April 2021 as the pandemic entered year 2. Utilizing existing capabilities, UHG claimed it facilitated more than 33 million telehealth visits in 2020, up from 1.2 million in 2019. The number looks sky high but in that time of practices closing it was a free-for-all in telehealth–and ‘facilitating’ is a nebulous catchword that could mean a practice using Facetime, telephones, or an EHR/population health platform module. Commercial claims for telehealth have remained at 4 to 5% since (FAIR Health, Jan 2024). Even during the pandemic’s first year, telehealth claims hit a peak of 13 percent in April 2020 that dropped fast to 6% by August 2020. Well over 60% are for behavioral telehealth claims. A leading indicator: Last June, Optum Everycare’s CEO from their 2021 start, Kristi Henderson, a former Optum SVP for digital transformation, departed to become CEO of Confluent Health, a national network of occupational and physical therapy clinics. It was about as far away as one could get from telehealth, digital transformation, and Amazon Care, her former employer that expired in 2022. Apparently, UHG and Optum see no further need for a virtual care specialty unit, instead integrating it into plans and other Optum services. According to MedCityNews, industry analysts aren’t surprised. Both Amwell and Teladoc have had well-known struggles. The latest: Walmart, after investing millions into their unit that included full clinics and a virtual care service, also made news on 30 April that it is closing both. Also greatly on UHG’s mind: cleanup after the Change debacle, making Mr. Market happy, and the looming antitrust action by DOJ. Becker’s, Healthcare IT News, In another sign that healthcare investors are selling off ancillary businesses, Advocate Health is selling PERS provider MobileHelp. It “no longer fit the strategic priorities of Advocate Health” according to their 22 April audit report (see document pages 10 and 13) and was authorized last December. Advocate, through its investment arm Advocate Aurora Enterprises, acquired both MobileHelp, one of the earliest mobile PERS, and sister company Clear Arch Health, a remote patient monitoring provider, in April 2022. Cost was not disclosed at that time but later was reported to be $290.7 million. The plan at the time was to combine both MobileHelp and Clear Arch with a senior care/home health provider earlier acquired by Advocate for $187 million, Senior Helpers. That company was sold in March to Chicago-based private equity firm Waud Capital Partners for an undisclosed amount. The MobileHelp sale is expected to close later this year. Buyer and price are not disclosed. The expected loss on the MobileHelp sale was figured into FY 2023 as part of an asset impairment write-down of $150 million, which Advocate said was “related to the expected loss on the sale of MobileHelp.” The PERS and RPM business is a largely consolidated ‘cash cow’ type of business that (Editor’s prediction) will be snapped up by another player like Connect America, Alert One, or a smaller player like ModivCare. Milwaukee Business Journal, Becker’s, Crain’s Chicago Business (requires subscription) VA admits that some veterans may be affected by Change Healthcare data breach, PII/PHI disclosure. While Department of Veterans Affairs Secretary Denis McDonough at this time believes that “there’s no confirmation yet” that veteran data was exposed, the scope of the Change Healthcare breach has led VA to formally alert via email 15 million veterans and their families of the possibility. The email also included information “about the two years of free credit monitoring and identity theft protection” that Change Healthcare is offering to those affected by the attack. The VA maintains that the attack resulted in only a temporary delay in filling 40,000 prescriptions but did not cause “any adverse impact on patient care or outcomes,” according to a department spokesman. NextGov/FCW 26 April, 23 April In related news, HHS as of 19 April had not received any notification from Change Healthcare nor UHG. They are required to file a breach report as providers and also as covered entities. They have 60 days from the breach occurrence on 21 February to report, which is coming right up. Becker’s If Larry said it, it must be true…assemble the moving boxes. At an Oracle conference in Nashville last week, Oracle chairman Larry Ellison said to Bill Frist of investment firm Frist Cressey Ventures that he planned to move the company to that city as “It’s the center of the industry we’re most concerned about, which is the healthcare industry.” It’s their second public Larry and Billy meetup in the last few months, the last in November at the Frist Cressey Ventures Forum where Ellison had previously touted Nashville. Ellison is investing in and building a 70-acre, $1.35 billion campus on Nashville’s riverfront. Oracle is currently HQ’d in Austin, Texas having moved in]]></description>
<content:encoded><![CDATA[<a href="https://telecareaware.com/news-roundup-neuropaces-brain-study-welbeings-liverpool-win-vas-apple-talks-medtronics-diabetes-move/lasso/" rel="attachment wp-att-30302"><img loading="lazy" decoding="async" class="alignleft wp-image-30302" src="https://telecareaware.com/wp-content/uploads/2017/12/Lasso.jpg" alt="" width="119" height="164" /></a>Optum Virtual Care closing, staff layoffs in progress. Optum Everycare CEO Jennifer Phalen on an 18 April internal conference call announced that the unit would close. According to sources, some employees would have layoff dates in July. No further details were available on other layoffs or plans for integrating Virtual Care’s capabilities into other Optum units, except for generalities. “We are committed to providing patients with a robust network of providers for virtual urgent, primary and specialty care options,” and “We continually review the capabilities and services we offer to meet the growing and evolving needs of our businesses and the people we serve.” a spokesperson for UnitedHealth said to <a href="https://archive.ph/PvSeb#selection-663.0-663.375" target="_blank" rel="noopener">Endpoints</a>, a biopharma publication from the University of Kansas which broke the story.
For Optum, this is the second shoe drop about layoffs and closures in less than two weeks. Reports from social media and layoff-specific boards indicated that thousands were being laid off, from their plans to urgent care and providers [<a href="https://telecareaware.com/who-really-has-the-4tb-of-change-healthcare-data-4-sale-and-in-great-timing-optum-lays-off-a-rumored-20k-say-wot/" target="_blank" rel="noopener">TTA 23 Apr</a>]. These were not confirmed by Optum nor by UnitedHealth Group. It’s not known if this unit’s closure was included in the total.
The larger picture is that it is symptomatic of the sudden growth, then equally sudden consolidation, of general telehealth. Optum opened the unit in April 2021 as the pandemic entered year 2. Utilizing existing capabilities, UHG claimed it facilitated more than 33 million telehealth visits in 2020, up from 1.2 million in 2019. The number looks sky high but in that time of practices closing it was a free-for-all in telehealth–and ‘facilitating’ is a nebulous catchword that could mean a practice using Facetime, telephones, or an EHR/population health platform module. Commercial claims for telehealth have remained at 4 to 5% since (<a href="https://s3.amazonaws.com/media2.fairhealth.org/infographic/telehealth/jan-2024-national-telehealth.pdf" target="_blank" rel="noopener">FAIR Health, Jan 2024</a>). Even during the pandemic’s first year, telehealth claims hit a peak of 13 percent in April 2020 that dropped fast to 6% by August 2020. Well over 60% are for behavioral telehealth claims.
A leading indicator: Last June, Optum Everycare’s CEO from their 2021 start, Kristi Henderson, a former Optum SVP for digital transformation, departed to become CEO of Confluent Health, a national network of occupational and physical therapy clinics. It was about as far away as one could get from telehealth, digital transformation, and Amazon Care, her former employer that expired in 2022.
Apparently, UHG and Optum see no further need for a virtual care specialty unit, instead integrating it into plans and other Optum services. According to <a href="https://medcitynews.com/2024/04/optum-virtual-care-telehealth/" target="_blank" rel="noopener">MedCityNews,</a> industry analysts aren’t surprised. Both Amwell and Teladoc have had well-known struggles. The latest: Walmart, after investing millions into their unit that included full clinics and a virtual care service, also made news on <a href="https://telecareaware.com/walmart-health-shutters-health-centers-walmart-virtual-care-in-sudden-move/" target="_blank" rel="noopener">30 April</a> that it is closing both. Also greatly on UHG’s mind: cleanup after the Change debacle, making Mr. Market happy, and the <a href="https://telecareaware.com/reality-bites-again-uhg-being-probed-by-doj-on-antitrust-onemedical-layoffs-not-related-to-amazon/" target="_blank" rel="noopener">looming antitrust action by DOJ</a>. <a href="https://www.beckershospitalreview.com/disruptors/optum-shutting-down-telehealth-business.html" target="_blank" rel="noopener">Becker’s</a>, <a href="https://www.healthcareitnews.com/news/optum-virtual-care-said-be-closing-down" target="_blank" rel="noopener">Healthcare IT News,</a>
In another sign that healthcare investors are selling off ancillary businesses, Advocate Health is selling PERS provider MobileHelp. It “no longer fit the strategic priorities of Advocate Health” according to their <a href="https://www.advocateaurorahealth.org/pdfs/financialinformation/audited_financial_statements.pdf" target="_blank" rel="noopener">22 April audit report</a> (see document pages 10 and 13) and was authorized last December.
Advocate, through its investment arm Advocate Aurora Enterprises, acquired both MobileHelp, one of the earliest mobile PERS, and sister company Clear Arch Health, a remote patient monitoring provider, in <a href="https://telecareaware.com/thursday-roundup-uhg-optum-change-extend-merger-deadline-to-31-dec-buys-kelsey-seybold-2b-tivity-health-sale-general-dynamics-enters-derm-ai-diagnostics-mobilehelp-pers-sold-to-advocate-aurora/" target="_blank" rel="noopener">April 2022</a>. Cost was not disclosed at that time but later was reported to be $290.7 million. The plan at the time was to combine both MobileHelp and Clear Arch with a senior care/home health provider earlier acquired by Advocate for $187 million, Senior Helpers. That company was sold in March to Chicago-based private equity firm Waud Capital Partners for an undisclosed amount. The MobileHelp sale is expected to close later this year. Buyer and price are not disclosed. The expected loss on the MobileHelp sale was figured into FY 2023 as part of an asset impairment write-down of $150 million, which Advocate said was “related to the expected loss on the sale of MobileHelp.” The PERS and RPM business is a largely consolidated ‘cash cow’ type of business that (Editor’s prediction) will be snapped up by another player like Connect America, Alert One, or a smaller player like ModivCare. <a href="https://archive.ph/59iKL#selection-1225.0-1225.199" target="_blank" rel="noopener">Milwaukee Business Journal</a>, <a href="https://www.beckershospitalreview.com/innovation/advocate-to-sell-remote-monitoring-company-it-bought-for-290m.html" target="_blank" rel="noopener">Becker’s</a>, <a href="https://www.chicagobusiness.com/health-care/advocate-aurora-health-sell-mobilehelp-2-years-after-buying-it?" target="_blank" rel="noopener">Crain’s Chicago Business </a>(requires subscription)
VA admits that some veterans may be affected by Change Healthcare data breach, PII/PHI disclosure. While Department of Veterans Affairs Secretary Denis McDonough at this time believes that “there’s no confirmation yet” that veteran data was exposed, the scope of the Change Healthcare breach has led VA to formally alert via email 15 million veterans and their families of the possibility. The email also included information “about the two years of free credit monitoring and identity theft protection” that Change Healthcare is offering to those affected by the attack. The VA maintains that the attack resulted in only a temporary delay in filling 40,000 prescriptions but did not cause “any adverse impact on patient care or outcomes,” according to a department spokesman. NextGov/FCW <a href="https://www.nextgov.com/cybersecurity/2024/04/va-warning-veterans-about-change-healthcare-cyberattack-secretary-says/396125/" target="_blank" rel="noopener">26 April</a>, <a href="https://www.nextgov.com/cybersecurity/2024/04/change-healthcare-attack-did-not-result-harm-veteran-care-va-says/395997/" target="_blank" rel="noopener">23 April</a>
In related news, HHS as of 19 April had not received any notification from Change Healthcare nor UHG. They are required to file a breach report as providers and also as covered entities. They have 60 days from the breach occurrence on 21 February to report, which is coming right up. <a href="https://www.beckershospitalreview.com/cybersecurity/hhs-no-breach-notification-from-change.html" target="_blank" rel="noopener">Becker’s</a>
If Larry said it, it must be true…assemble the moving boxes. At an Oracle conference in Nashville last week, Oracle chairman Larry Ellison said to Bill Frist of investment firm Frist Cressey Ventures that he planned to move the company to that city as “It’s the center of the industry we’re most concerned about, which is the healthcare industry.” It’s their second public Larry and Billy meetup in the last few months, the <a href="https://telecareaware.com/this-n-that-hhs-settles-2017-ransomware-breach-carbon-health-lays-off-114-in-restructuring-why-oh-why-vc-general-catalyst-wants-a-3b-health-system-when-larry-met-billy-a-lexicon-of-workpla/" target="_blank" rel="noopener">last in November</a> at the Frist Cressey Ventures Forum where Ellison had previously touted Nashville. Ellison is investing in and building a 70-acre, $1.35 billion campus on Nashville’s riverfront. Oracle is currently HQ’d in Austin, Texas having moved in 2020 from Redwood City, California but with extensive facilities remaining in the state. Texas and Tennessee have one thing in common–a superior business climate. Both are long on lifestyle, though Austin is not as temperate (read, hot) as Nashville. What Nashville has that Austin doesn’t is being a healthcare hub. At least in Ellison’s view, healthcare is where it’s at and so is Nashville. So as long as he’s running Oracle from his manse on Lanai, Oracle does what Larry says. <a href="https://www.healthcaredive.com/news/oracle-health-cerner-headquarters-nashville/714157/" target="_blank" rel="noopener">Healthcare Dive</a>, <a href="https://www.fiercehealthcare.com/health-tech/oracles-move-nashville-its-world-hq-signals-broader-ambitions-healthcare#" target="_blank" rel="noopener">Healthcare IT News</a>, <a href="https://www.tennessean.com/story/news/local/2024/04/24/oracle-moving-hq-to-nashville-what-to-know/73436659007/" target="_blank" rel="noopener">The Tennessean</a>
More fun facts about Larry Ellison and Nashville: David Ellison, his son, is founder of Skydance Media, a major Hollywood production company (Mission: Impossible and others) and negotiating a zillion-dollar merger with Paramount Pictures. David’s wife is a singer trying to make it in Music City and they have a home there. Kind of like the age-old trend of moving the HQ near where the CEO’s living. On moving the HQ to Nashville from Austin, this would affect perhaps 2,500 workers based there currently. Most of Oracle’s workers are dispersed and work remotely. 6,400 of former Cerner-ites are still in Missouri and 7,000 remain in California. <a href="https://histalk2.com/2024/04/30/news-5-1-24/" target="_blank" rel="noopener">Big hat tip to HIStalk—scroll down and see more about Larry and Billy’s talk</a>, which also covered cybersecurity, the NHS (which uses Cerner), and automating hospitals and the hospital-payer interface.
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<title>Walmart Health shutters health centers, Walmart Virtual Care, in sudden move (updated–why?)</title>
<link>https://telecareaware.com/walmart-health-shutters-health-centers-walmart-virtual-care-in-sudden-move/</link>
<comments>https://telecareaware.com/walmart-health-shutters-health-centers-walmart-virtual-care-in-sudden-move/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Tue, 30 Apr 2024 19:48:29 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[Ambetter]]></category>
<category><![CDATA[Centene]]></category>
<category><![CDATA[Orlando Health]]></category>
<category><![CDATA[Walmart Health]]></category>
<category><![CDATA[Walmart Health Virtual Care]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37242</guid>
<description><![CDATA[In a shocker, Walmart throws in towel on onsite primary care, urgent care, and telehealth, effective today (30 April). Walmart’s release stated that “we determined there is not a sustainable business model for us to continue” either service since “the challenging reimbursement environment and escalating operating costs create a lack of profitability that make the care business unsustainable for us at this time.” Analysts also attributed the difficulties to the rising cost of labor, real estate, complex billing procedures, and reimbursement rates that haven’t increased in years. The boom was lowered only three weeks after Walmart announced that they were slowing down 2024 openings of its primary and urgent care centers from 30 to 22 [TTA 5 April]. From aggressive promises back in 2018 of at least 1,000 locations, later revised to 4,000 locations by 2029, to serve the underserved with primary care, dental care, and basic lab and imaging services, only 51 centers were opened in superstores in six states–Arkansas, Florida, Georgia, Illinois, Missouri, and Texas. The top executive spot became a revolving door. The release did not disclose when the center closures would be effective. From the screenshot above from the Walmart Health website, it can be inferred that because appointments must be scheduled within the next 30 days and no new patients are being accepted, the closures will be start to be effective 30 or 31 May. The centers employ physicians, dentists, and nurse-practitioners. Walmart Health also had recently inked high profile partnerships with Centene’s Ambetter-Sunshine Health plan as an ACA preferred provider [TTA 8 Nov 23] and with Orlando Health in Florida for care coordination. It is not known what will happen to these latter partnerships. Update. UnitedHealthcare and Walmart have ended their co-branded Medicare Advantage “Walmart Flex” plan. This was part of a 10-year deal inked last year. The MA plan was available in Georgia only, with ambitions to expand. Other partner programs were available in Florida and Georgia. Becker’s Walmart Health Virtual Care, in contrast, has no such notice on its website. Virtual Care services may be more problematic to shut down as they are provided to health plan members (e.g. UnitedHealthcare) and employers. Walmart Health acquired MeMD telehealth in May 2021 in very different times–at that time, they had five million members. Virtual Care also covers behavioral health. That winddown may differ in timing based on contracts and patient handoffs. The release affirms that ~4,500 Walmart pharmacies and 3,000 +optical centers will continue and grow. Pharmacies already offer Testing and Treatment services, health screenings, access to specialty pharmacy medication and care, as well as other essential services such as medication therapy management. In vision care, Walmart recently acquired 200 Vision Centers. Employees affected will receive either the opportunity to move to another location or separation benefits. The practices are “partners’ and will be paid for 90 days. Walmart’s wobbliness on the health provision front, along with rising costs, less reimbursement, and more competition than they thought, caught up to them in the end–as it did with VillageMD/Village Medical and Walgreens. Healthcare Dive, Becker’s, Crain’s Chicago Business Update. Perhaps there’s another trend here. A user of Walmart Health, ‘Wiggles’, posted on the always interesting HIStalk making some excellent points. Many of their appointments were canceled due to lack of available clinicians. He or she surmised that physicians (and this Editor would add, nurse-practitioners) don’t find putting in hours at a Walmart Health carries any prestige for the money earned nor that they enjoy ‘care-by-wire’. Your Editor would add that the areas where Walmart built the clinics may be areas of clinician scarcity–that they are booked solid. Add to that two cited reasons for shrinking Walgreens’ VillageMD operation–that they cannot fill the patient panels for each physician in many areas (saturation?), nor can they get the physicians in other areas to work in the space offered at a co-location (undesirable working conditions?). Could it be, as ‘Wiggles’ surmises, that here’s an opportunity for clinical professionals to take back control? (This is on top of the actions that pharmacists are taking across Walgreens and CVS on their working conditions.)]]></description>
<content:encoded><![CDATA[<a href="https://telecareaware.com/walmart-health-shutters-health-centers-walmart-virtual-care-in-sudden-move/walmart-health-closing/" rel="attachment wp-att-37243"><img loading="lazy" decoding="async" class="wp-image-37243 alignleft" src="https://telecareaware.com/wp-content/uploads/2024/04/Walmart-Health-closing.jpg" alt="" width="476" height="217" srcset="https://telecareaware.com/wp-content/uploads/2024/04/Walmart-Health-closing.jpg 960w, https://telecareaware.com/wp-content/uploads/2024/04/Walmart-Health-closing-300x137.jpg 300w, https://telecareaware.com/wp-content/uploads/2024/04/Walmart-Health-closing-768x350.jpg 768w" sizes="(max-width: 476px) 100vw, 476px" /></a>In a shocker, Walmart throws in towel on onsite primary care, urgent care, and telehealth, effective today (30 April). <a href="https://corporate.walmart.com/news/2024/04/30/walmart-health-is-closing" target="_blank" rel="noopener">Walmart’s release</a> stated that “we determined there is not a sustainable business model for us to continue” either service since “the challenging reimbursement environment and escalating operating costs create a lack of profitability that make the care business unsustainable for us at this time.” Analysts also attributed the difficulties to the rising cost of labor, real estate, complex billing procedures, and reimbursement rates that haven’t increased in years.
The boom was lowered only three weeks after Walmart announced that they were slowing down 2024 openings of its primary and urgent care centers from 30 to 22 [<a href="https://telecareaware.com/news-roundup-amwell-faces-nyse-delisting-walmart-health-slows-health-centers-except-texas-novosounds-ultrasound-patent-ekos-low-ef-ai-universal-brain-elizabeth-holmes-in-dropout-updat/" target="_blank" rel="noopener">TTA 5 April</a>]. From aggressive promises back in 2018 of at least 1,000 locations, later revised to 4,000 locations by 2029, to serve the underserved with primary care, dental care, and basic lab and imaging services, only 51 centers were opened in superstores in six states–Arkansas, Florida, Georgia, Illinois, Missouri, and Texas. The top executive spot became a revolving door.
The release did not disclose when the center closures would be effective. From the screenshot above from the <a href="https://www.walmarthealth.com/" target="_blank" rel="noopener">Walmart Health website</a>, it can be inferred that because appointments must be scheduled within the next 30 days and no new patients are being accepted, the closures will be start to be effective 30 or 31 May. The centers employ physicians, dentists, and nurse-practitioners. Walmart Health also had recently inked high profile partnerships with Centene’s Ambetter-Sunshine Health plan as an ACA preferred provider [<a href="https://telecareaware.com/week-end-short-takes-payer-earnings-for-centene-cigna-humana-centene-and-walmart-partner-in-fl-dispatch-health-and-us-acute-care-partner-amwell-widens-loss-promedica-710m-home-health-sale-aqu/" target="_blank" rel="noopener">TTA 8 Nov 23</a>] and with Orlando Health in Florida for care coordination. It is not known what will happen to these latter partnerships. Update. UnitedHealthcare and Walmart have ended their co-branded Medicare Advantage “Walmart Flex” plan. This was part of a 10-year deal inked last year. The MA plan was available in Georgia only, with ambitions to expand. Other partner programs were available in Florida and Georgia. <a href="https://www.beckerspayer.com/payer/unitedhealth-walmart-halt-shared-medicare-advantage-plan.html" target="_blank" rel="noopener">Becker’s</a>
<a href="https://walmarthealthvirtualcare.com/" target="_blank" rel="noopener">Walmart Health Virtual Care</a>, in contrast, has no such notice on its website. Virtual Care services may be more problematic to shut down as they are provided to health plan members (e.g. UnitedHealthcare) and employers. Walmart Health acquired MeMD telehealth in <a href="https://telecareaware.com/walmart-health-moves-into-the-hot-telehealth-area-with-with-memd-buy/" target="_blank" rel="noopener">May 2021</a> in very different times–at that time, they had five million members. Virtual Care also covers behavioral health. That winddown may differ in timing based on contracts and patient handoffs.
The release affirms that ~4,500 Walmart pharmacies and 3,000 +optical centers will continue and grow. Pharmacies already offer <a href="https://corporate.walmart.com/news/2023/08/29/walmarts-new-testing-and-treatment-program-empowers-pharmacists-beyond-the-prescription" target="_blank" rel="noopener">Testing and Treatment</a> services, health screenings, access to specialty pharmacy medication and care, as well as other essential services such as medication therapy management. In vision care, Walmart recently acquired 200 Vision Centers.
Employees affected will receive either the opportunity to move to another location or separation benefits. The practices are “partners’ and will be paid for 90 days. Walmart’s wobbliness on the health provision front, along with rising costs, less reimbursement, and more competition than they thought, caught up to them in the end–as it did with VillageMD/Village Medical and Walgreens. <a href="https://www.healthcaredive.com/news/walmart-health-shut-down/714671/" target="_blank" rel="noopener">Healthcare Dive,</a> <a href="https://www.beckershospitalreview.com/finance/walmart-health-to-close-all-51-health-clinics-virtual-care.html" target="_blank" rel="noopener">Becker’s</a>, <a href="https://archive.ph/g7O56" target="_blank" rel="noopener">Crain’s Chicago Business</a>
Update. Perhaps there’s another trend here. A user of Walmart Health, ‘Wiggles’, posted on the always interesting <a href="https://histalk2.com/2024/04/30/news-5-1-24/" target="_blank" rel="noopener">HIStalk</a> making some excellent points. Many of their appointments were canceled due to lack of available clinicians. He or she surmised that physicians (and this Editor would add, nurse-practitioners) don’t find putting in hours at a Walmart Health carries any prestige for the money earned nor that they enjoy ‘care-by-wire’. Your Editor would add that the areas where Walmart built the clinics may be areas of clinician scarcity–that they are booked solid. Add to that two cited reasons for shrinking Walgreens’ VillageMD operation–that they cannot fill the patient panels for each physician in many areas (saturation?), nor can they get the physicians in other areas to work in the space offered at a co-location (undesirable working conditions?). Could it be, as ‘Wiggles’ surmises, that here’s an opportunity for clinical professionals to take back control? (This is on top of the actions that pharmacists are taking across Walgreens and CVS on their working conditions.)
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<title>TTA’s April Showers 4: UHG admits ransom payment–to whom? Interpreting Merger Guidelines misery, VA needs EHR testing help, DHA a ‘front door’; Lumeris’ funding, Optum layoffs, more!</title>
<link>https://telecareaware.com/ttas-april-showers-4-uhg-admits-ransom-payment-to-whom-interpreting-merger-guidelines-misery-va-needs-ehr-testing-help-dha-a-front-door-lumeris-funding-optum-layoffs-more/</link>
<comments>https://telecareaware.com/ttas-april-showers-4-uhg-admits-ransom-payment-to-whom-interpreting-merger-guidelines-misery-va-needs-ehr-testing-help-dha-a-front-door-lumeris-funding-optum-layoffs-more/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Thu, 25 Apr 2024 07:30:46 +0000</pubDate>
<category><![CDATA[Alerts emails]]></category>
<category><![CDATA[ALPHV]]></category>
<category><![CDATA[Amedisys]]></category>
<category><![CDATA[BlackCat]]></category>
<category><![CDATA[Change Healthcare]]></category>
<category><![CDATA[cyberattack]]></category>
<category><![CDATA[DataBreaches.net]]></category>
<category><![CDATA[Defense Health Agency]]></category>
<category><![CDATA[DOJ]]></category>
<category><![CDATA[E-Visits]]></category>
<category><![CDATA[Epstein Becker Green]]></category>
<category><![CDATA[FTC]]></category>
<category><![CDATA[GAO]]></category>
<category><![CDATA[Lumeris]]></category>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Medicare]]></category>
<category><![CDATA[Medixine]]></category>
<category><![CDATA[Merger Guidelines]]></category>
<category><![CDATA[MHS Genesis]]></category>
<category><![CDATA[Nonin]]></category>
<category><![CDATA[Optum]]></category>
<category><![CDATA[Oracle Cerner]]></category>
<category><![CDATA[RansomHub]]></category>
<category><![CDATA[ransomware]]></category>
<category><![CDATA[telehealth]]></category>
<category><![CDATA[UnitedHealth Group]]></category>
<category><![CDATA[va]]></category>
<category><![CDATA[value based care]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37240</guid>
<description><![CDATA[    We return to the Cyberattack That Changed Everything, wondering how much and to whom UnitedHealth paid ransom–now that they’ve finally admitted it. Also returning to those Merger Guidelines and how they may change the face of healthcare M&A. VA and DOD hard at work on their EHRs and systems, Lumeris gains a luminous funding, but Optum staff are seeing pink slips. (Shifting Alerts to this Thursday, Friday, Saturday) Two studies: Telehealth underutilized, underbilled, even during pandemic–and accounted for only modest increases in costs, and quality (Perhaps undercaptured?) Short takes: VA seeks vendor to support EHR testing; Defense Health seeks ‘digital front door’ vendor; GAO recommendations to Oracle; Nonin partners with Finland’s Medixine; Lumeris gains $100M equity funding What the DOJ and FTC Merger Guidelines mean for healthcare M&A–a Epstein Becker Green podcast (Legal department torture) Breaking: UnitedHealth admits to paying ransomwareistes on Change stolen patient data (updated) (For what and how much?) Who really has the 4TB of Change Healthcare data 4 sale? And in great timing, Optum lays off a rumored 20K–say wot? (UHG has some ‘splainin’) Another packed week, with a few baffling events. Leading in bafflement is NeueHealth’s additional $30M from NEA, which now owns 60%. UHG battling on multiple fronts between the Change hacking and the House, Walgreens lays off more to cut costs, VillageMD sued on ad trackers, and Cerebral’s comeuppance costs $7.1M. VA may restart Oracle Cerner implementation, Epic and Particle Health feud. But restoring faith in health tech benefiting a neglected group is TandemStride. TandemStride launches platform to assist survivors of traumatic injury; a personal look (A real care gap) News roundup: Congress hammers absent UHG on Change cyberattack–and more; 10% unhinged at Hinge Health; Steward Health nears insolvency; Two Chairs $72M Series C (UHG’s troubles cover the waterfront) ISfTeH student contest and award 2024–deadline 26 April! (Move fast!) Mid-week short takes: UnitedHealth’s $1.2B Q1 loss from Change attack, another Walgreens layoff, Dexcom-MD Revolution partner, Kontakt.io $47.5 raise, GeBBS Healthcare may sell for $1B (Walgreens still downsizing–what’s next) News roundup: VillageMD sued on Meta Pixel trackers; Cerebral pays $7.1M FTC fine on data sharing, cancellation policy; VA may resume Oracle Cerner implementation during FY2025; Epic-Particle Health dispute on PHI sharing (Cerebral still in trouble) The New Reality, Bizarro World version: NeueHealth gets $30M loan increase from NEA, now majority owner (Baffling) This packed week was about righting listing ships. Teladoc’s CEO suddenly departs, Amwell at risk of a NYSE delisting–we look at What Happened and what needs to be done. VillageMD gets new COO to manage the shrinkage. And Change Healthcare data on sale from disgruntled ALPHV affiliate. Digital health funding continues to limp along. Clover looks at another delisting, Walmart Health applies the brakes. And we highlight innovations from Novosound, Biolinq, Eko, Universal Brain. Digital health’s Q1 according to Rock Health: the New Reality is a flat spin back to 2019 (Limping, but alive) VillageMD names new president and COO as it shrinks to 620 locations (Ex Centene, Humana exec comes out of short retirement to clean up) News roundup: Now Clover Health faces delisting; BlackCat/ALPHV affiliate with 4TB of data puts it up for sale; $58M for Biolinq’s ‘smallest blood glucose biosensor’ (Will UHG pay more ransom?) Opinion: Further thoughts on Teladoc, Amwell, and the future of telehealth–what happens next? (A hard look at the follies, mistakes, and saving ships) News roundup: Amwell faces NYSE delisting; Walmart Health slows Health Centers, except Texas; Novosound’s ultrasound patent; Eko’s Low EF AI; Universal Brain; Elizabeth Holmes in ‘Dropout’ + update Teladoc CEO Jason Gorevic steps down immediately in shock announcement (Now what?) A damp start to April leads with puzzling news. NeueHealth loses plans and big money in ’23–but gives a big bonus to its CEO. Cano Health reorganizing or selling by June. ATA kicks DOJ about expediting controlled substance telehealth regs. Apple keeps kicking around the ‘Davids’, but Davids won’t stop slinging either. And if you work with a PR or marketing agency, our Perspectives has some advice for you. More New Reality: NeueHealth (Bright Health) CEO’s $1.9M bonus, 2023 financials–and does Cano Health have a future? (Two stories gone way sideways) ATA requests expediting of revised proposed rule on controlled substance telehealth prescribing; announces Nexus 2024 meeting 5-7 May (DEA needs to get moving now, not later) Davids (AliveCor, Masimo) v. Goliath (Apple): the patent infringement game *not* over; Masimo’s messy proxy fight with Politan (updated) (Seeing value in Masimo?) Perspectives: Working with a PR Agency–How to Make the Most of the Partnership (Expert advice if you manage communications) It was a pre-Easter week that started as quiet and got VERY LOUD at the end. Walgreens took the hard road, writing down VillageMD even before the closures were final and lowering forecasts. An important metastudy+ casts doubt on the efficacy of present digital health diabetes solutions but provides solid direction forward. And it’s definitely an early sunny spring for funding, but there’s continued bad weather forecast for UnitedHealth Group and Oracle Cerner’s VA implementation. Facing Future 2: Walgreens writes down $5.8B for VillageMD in Q2, lowers 2024 earnings on ‘challenging’ retail outlook (Biting bullet early and hard) Short takes: PocketHealth, Brightside fundings; VA OIG reports hit Oracle Cerner; Change cyberattack/legal updates; UHG-Amedisys reviewed in Oregon; Optum to buy Steward Health practices (UHG carries on as does company funding) Can digital health RPM achieve meaningful change with type 2 diabetics? New metastudy expresses doubt. (Major digital health findings from PHTI) This week’s Big Quake was DOJ’s antitrust suit against Apple for smartphone monopoly and control over apps. Another quake: 2023 data breaches were up 187%–when a medical record is worth $60, it’s logical. Early-stage funding and partnerships are back with a roar when AI’s in your portfolio. And Walgreens shrinks both VillageMD and distribution. 2023 US data breaches topped 171M records, up 187% versus 2022: Protenus Breach Barometer (And that was LAST year!) Why is the US DOJ filing an antitrust lawsuit against Apple–on monopolizing the smartphone market? (One wonders) Mid-week roundup: UK startup]]></description>
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We return to the Cyberattack That Changed Everything, wondering how much and to whom UnitedHealth paid ransom–now that they’ve finally admitted it. Also returning to those Merger Guidelines and how they may change the face of healthcare M&A. VA and DOD hard at work on their EHRs and systems, Lumeris gains a luminous funding, but Optum staff are seeing pink slips.
(Shifting Alerts to this Thursday, Friday, Saturday)
<a href="https://telecareaware.com/two-studies-telehealth-underutilized-underbilled-even-during-pandemic-and-accounted-for-only-modest-increases-in-costs-quality/">Two studies: Telehealth underutilized, underbilled, even during pandemic–and accounted for only modest increases in costs, and quality</a> (Perhaps undercaptured?) 
<a href="https://telecareaware.com/short-takes-va-seeks-vendor-to-support-ehr-testing-defense-health-seeks-digital-front-door-vendor-gao-recommendations-to-oracle-nonin-partners-with-finlands-medixine-lumeris-gains-100m-equ/">Short takes: VA seeks vendor to support EHR testing; Defense Health seeks ‘digital front door’ vendor; GAO recommendations to Oracle; Nonin partners with Finland’s Medixine; Lumeris gains $100M equity funding</a> 
<a href="https://telecareaware.com/what-the-doj-and-ftc-merger-guidelines-mean-for-healthcare-ma-a-epstein-becker-green-podcast/">What the DOJ and FTC Merger Guidelines mean for healthcare M&A–a Epstein Becker Green podcast</a> (Legal department torture) 
<a href="https://telecareaware.com/breaking-unitedhealth-admits-to-paying-ransomwareistes-on-change-stolen-patient-data/">Breaking: UnitedHealth admits to paying ransomwareistes on Change stolen patient data (updated) </a>(For what and how much?) 
<a href="https://telecareaware.com/who-really-has-the-4tb-of-change-healthcare-data-4-sale-and-in-great-timing-optum-lays-off-a-rumored-20k-say-wot/">Who really has the 4TB of Change Healthcare data 4 sale? And in great timing, Optum lays off a rumored 20K–say wot?</a> (UHG has some ‘splainin’)
Another packed week, with a few baffling events. Leading in bafflement is NeueHealth’s additional $30M from NEA, which now owns 60%. UHG battling on multiple fronts between the Change hacking and the House, Walgreens lays off more to cut costs, VillageMD sued on ad trackers, and Cerebral’s comeuppance costs $7.1M. VA may restart Oracle Cerner implementation, Epic and Particle Health feud. But restoring faith in health tech benefiting a neglected group is TandemStride.
<a href="https://telecareaware.com/tandemstride-launches-platform-to-assist-survivors-of-traumatic-injury-a-personal-look/">TandemStride launches platform to assist survivors of traumatic injury; a personal look</a> (A real care gap) 
<a href="https://telecareaware.com/news-roundup-congress-hammers-absent-uhg-on-change-cyberattack-and-more-10-unhinged-at-hinge-health-steward-health-nears-insolvency-two-chairs-72m-series-c/">News roundup: Congress hammers absent UHG on Change cyberattack–and more; 10% unhinged at Hinge Health; Steward Health nears insolvency; Two Chairs $72M Series C </a>(UHG’s troubles cover the waterfront) 
<a href="https://telecareaware.com/isfteh-student-contest-and-award-2024-deadline-26-april/">ISfTeH student contest and award 2024–deadline 26 April!</a> (Move fast!) 
<a href="https://telecareaware.com/mid-week-short-takes-unitedhealths-1-2b-q1-loss-from-change-attack-another-walgreens-layoff-dexcom-md-revolution-partner-kontakt-io-47-5-raise-gebbs-healthcare-may-sell-for-1b/">Mid-week short takes: UnitedHealth’s $1.2B Q1 loss from Change attack, another Walgreens layoff, Dexcom-MD Revolution partner, Kontakt.io $47.5 raise, GeBBS Healthcare may sell for $1B</a> (Walgreens still downsizing–what’s next) 
<a href="https://telecareaware.com/news-roundup-villagemd-sued-on-meta-pixel-trackers-cerebral-pays-7-1m-ftc-fine-on-data-sharing-cancellation-policy-va-may-resume-oracle-cerner-implementation-during-fy2025-epic-particle-health-d/">News roundup: VillageMD sued on Meta Pixel trackers; Cerebral pays $7.1M FTC fine on data sharing, cancellation policy; VA may resume Oracle Cerner implementation during FY2025; Epic-Particle Health dispute on PHI sharing</a> (Cerebral still in trouble)
<a href="https://telecareaware.com/the-new-reality-bizarro-world-version-neuehealth-gets-30m-loan-increase-from-nea-now-majority-owner/">The New Reality, Bizarro World version: NeueHealth gets $30M loan increase from NEA, now majority owner </a>(Baffling)
This packed week was about righting listing ships. Teladoc’s CEO suddenly departs, Amwell at risk of a NYSE delisting–we look at What Happened and what needs to be done. VillageMD gets new COO to manage the shrinkage. And Change Healthcare data on sale from disgruntled ALPHV affiliate. Digital health funding continues to limp along. Clover looks at another delisting, Walmart Health applies the brakes. And we highlight innovations from Novosound, Biolinq, Eko, Universal Brain.
<a href="https://telecareaware.com/digital-healths-q1-according-to-rock-health-the-new-reality-is-a-flat-spin-back-to-2019/">Digital health’s Q1 according to Rock Health: the New Reality is a flat spin back to 2019</a> (Limping, but alive) 
<a href="https://telecareaware.com/villagemd-names-new-president-and-coo-as-it-shrinks-to-620-locations/">VillageMD names new president and COO as it shrinks to 620 locations</a> (Ex Centene, Humana exec comes out of short retirement to clean up) 
<a href="https://telecareaware.com/news-roundup-now-clover-health-faces-delisting-blackcat-alphv-affiliate-with-4tb-of-data-puts-it-up-for-sale-58m-for-biolinqs-smallest-blood-glucose-biosensor/">News roundup: Now Clover Health faces delisting; BlackCat/ALPHV affiliate with 4TB of data puts it up for sale; $58M for Biolinq’s ‘smallest blood glucose biosensor’</a> (Will UHG pay more ransom?) 
<a href="https://telecareaware.com/opinion-further-thoughts-on-teladoc-amwell-and-the-future-of-telehealth-what-happens-next/">Opinion: Further thoughts on Teladoc, Amwell, and the future of telehealth–what happens next?</a> (A hard look at the follies, mistakes, and saving ships) 
<a href="https://telecareaware.com/news-roundup-amwell-faces-nyse-delisting-walmart-health-slows-health-centers-except-texas-novosounds-ultrasound-patent-ekos-low-ef-ai-universal-brain-elizabeth-holmes-in-dropout-updat/">News roundup: Amwell faces NYSE delisting; Walmart Health slows Health Centers, except Texas; Novosound’s ultrasound patent; Eko’s Low EF AI; Universal Brain; Elizabeth Holmes in ‘Dropout’ + update</a> 
<a href="https://telecareaware.com/teladoc-ceo-jason-gorevic-steps-down-immediately-in-shock-announcement/">Teladoc CEO Jason Gorevic steps down immediately in shock announcement</a> (Now what?)
A damp start to April leads with puzzling news. NeueHealth loses plans and big money in ’23–but gives a big bonus to its CEO. Cano Health reorganizing or selling by June. ATA kicks DOJ about expediting controlled substance telehealth regs. Apple keeps kicking around the ‘Davids’, but Davids won’t stop slinging either. And if you work with a PR or marketing agency, our Perspectives has some advice for you.
<a href="https://telecareaware.com/more-new-reality-neuehealth-bright-health-ceos-1-9m-bonus-2023-financials-and-does-cano-health-have-a-future/">More New Reality: NeueHealth (Bright Health) CEO’s $1.9M bonus, 2023 financials–and does Cano Health have a future?</a> (Two stories gone way sideways) 
<a href="https://telecareaware.com/ata-requests-expediting-of-revised-proposed-rule-on-controlled-substance-telehealth-prescribing-announces-nexus-2024-meeting-5-7-may/">ATA requests expediting of revised proposed rule on controlled substance telehealth prescribing; announces Nexus 2024 meeting 5-7 May</a> (DEA needs to get moving now, not later) 
<a href="https://telecareaware.com/davids-alivecor-masimo-v-goliath-apple-the-patent-infringement-game-not-over-masimos-proxy-fight-with-politan/">Davids (AliveCor, Masimo) v. Goliath (Apple): the patent infringement game *not* over; Masimo’s messy proxy fight with Politan (updated)</a> (Seeing value in Masimo?) 
<a href="https://telecareaware.com/perspectives-working-with-a-pr-agency-how-to-make-the-most-of-the-partnership/">Perspectives: Working with a PR Agency–How to Make the Most of the Partnership</a> (Expert advice if you manage communications)
It was a pre-Easter week that started as quiet and got VERY LOUD at the end. Walgreens took the hard road, writing down VillageMD even before the closures were final and lowering forecasts. An important metastudy+ casts doubt on the efficacy of present digital health diabetes solutions but provides solid direction forward. And it’s definitely an early sunny spring for funding, but there’s continued bad weather forecast for UnitedHealth Group and Oracle Cerner’s VA implementation.
<a href="https://telecareaware.com/facing-future-2-walgreens-writes-down-5-8b-for-villagemd-in-q2-lowers-2024-earnings-on-challenging-retail-outlook/">Facing Future 2: Walgreens writes down $5.8B for VillageMD in Q2, lowers 2024 earnings on ‘challenging’ retail outlook </a>(Biting bullet early and hard) 
<a href="https://telecareaware.com/short-takes-pockethealth-brightside-fundings-va-oig-reports-hit-oracle-cerner-change-cyberattack-legal-updates-uhg-amedisys-reviewed-in-oregon-optum-to-buy-steward-health-practices/">Short takes: PocketHealth, Brightside fundings; VA OIG reports hit Oracle Cerner; Change cyberattack/legal updates; UHG-Amedisys reviewed in Oregon; Optum to buy Steward Health practices</a> (UHG carries on as does company funding) 
<a href="https://telecareaware.com/can-digital-health-rpm-achieve-meaningful-change-with-type-2-diabetics-new-metastudy-expresses-doubt/">Can digital health RPM achieve meaningful change with type 2 diabetics? New metastudy expresses doubt.</a> (Major digital health findings from PHTI)
This week’s Big Quake was DOJ’s antitrust suit against Apple for smartphone monopoly and control over apps. Another quake: 2023 data breaches were up 187%–when a medical record is worth $60, it’s logical. Early-stage funding and partnerships are back with a roar when AI’s in your portfolio. And Walgreens shrinks both VillageMD and distribution.
<a href="https://telecareaware.com/2023-us-data-breaches-topped-171m-records-up-187-versus-2022-protenus-breach-barometer/">2023 US data breaches topped 171M records, up 187% versus 2022: Protenus Breach Barometer </a>(And that was LAST year!) 
<a href="https://telecareaware.com/why-is-the-us-doj-filing-an-antitrust-lawsuit-against-apple-on-monopolizing-the-smartphone-market/">Why is the US DOJ filing an antitrust lawsuit against Apple–on monopolizing the smartphone market? </a>(One wonders) 
<a href="https://telecareaware.com/mid-week-roundup-uk-startup-anima-gains-12m-hippocratic-ai-53m-assort-health-3-5m-abridge-partners-with-nvidia-villagemd-sells-11-rhode-island-clinics-60-for-that-medical-record-on-the-dark/">Mid-week roundup: UK startup Anima gains $12M, Hippocratic AI $53M, Assort Health $3.5M; Abridge partners with NVIDIA; VillageMD sells 11 Rhode Island clinics; $60 for that medical record on the dark web </a>(Funding’s back and AI’s got it)
<a href="https://telecareaware.com/walgreens-latest-cuts-affect-646-at-florida-connecticut-distribution-centers/">Walgreens’ latest cuts affect 646 at Florida, Connecticut distribution centers</a> (More in next week’s financial call)
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<title>Two studies: Telehealth underutilized, underbilled, even during pandemic–and accounted for only modest increases in costs, quality</title>
<link>https://telecareaware.com/two-studies-telehealth-underutilized-underbilled-even-during-pandemic-and-accounted-for-only-modest-increases-in-costs-quality/</link>
<comments>https://telecareaware.com/two-studies-telehealth-underutilized-underbilled-even-during-pandemic-and-accounted-for-only-modest-increases-in-costs-quality/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Wed, 24 Apr 2024 16:31:48 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[Opinion]]></category>
<category><![CDATA[E-Visits]]></category>
<category><![CDATA[Medicare]]></category>
<category><![CDATA[telehealth]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37238</guid>
<description><![CDATA[A newly published study in April’s Health Affairs Scholar points to telehealth’s surprisingly low reimbursable takeup among tradtional Medicare beneficiaries–even during the pandemic. This study evaluates E&M (evaluation and management) Current Procedural Terminology (CPT) billing against codes that were established during the pandemic to pay providers for telehealth (e-visits in the study), 99421-99423. It also broke down e-visits by different clinician types: primary care, medical specialties, surgical specialties, behavioral health, nurse practitioners, and physician assistants, and counted the most frequent diagnoses. E-visits constituted less than 0.1% of E&M services in the monitored period, 2020-22. Key findings: E-visit billing hit an absolute peak in April 2020 of 728 monthly encounters per 100,000 beneficiaries. It dropped off dramatically by summer 2020 and later stabilized to approximately 90 monthly encounters per 100,000 beneficiaries. Only 0.8% of Medicare beneficiaries who received an E&M service were billed for at least one e-visit. E-visits constituted 0.09%, 0.05%, and 0.05% of all E&M services in 2020, 2021, and 2022. Primary care providers accounted for over 50% of the billing. Approximately 30% were billed at the highest level of clinician time, requiring at least 21 minutes. Hypertension was the most common diagnosis addressed in e-visits (21%), followed by diabetes (2.3%) and COVID-19 (2%). Surprisingly, fewer beneficiaries receiving e-visits lived in rural areas. HealthExec Note to Readers: for those puzzled by the absence of mental health diagnoses, FAIR Health’s monthly telehealth tracker which during the pandemic showed Covid/respiratory diagnoses first, then mental health–and mental health as #1 in about 5% of claims since then –FAIR uses a different methodology. It tracks medical claims for private health plans only, not traditional Medicare, Medicare Advantage, or Medicaid. It also does a comparison on CPT 99213, comparing a specific procedure provided via telehealth to the same procedure provided in an office. 15 April methodology release Editor’s Note, strictly anecdotal: As someone who worked as the sole marketer for a management services company with primary care ACOs during the period in early 2020 when HHS was turning out new codes nearly hourly to create telehealth flexibilities in Medicare, there was considerable confusion around codes and what they covered. Our teams, sourcing from HHS and the AMA, had our hands full to correctly specify and document the CPT codes established at that time. I know because I worked on said documentation that we condensed into a two-page fast guide and then into presentations. Many of the codes were telephonic. My conclusion about this study is that it was very narrow and tracked too few codes. Other factors: practices had difficulty using audio/video telehealth with their patient populations–if the practices had it, patients weren’t ready (tech barriers) or willing to use. Some of the practices reported that they didn’t bill for telehealth encounters during this confused time, trading off reimbursement for overall patient care and marking up quality metrics such as Annual Wellness Visits. A second telehealth study, published this month in Health Affairs, looked at health systems to assess whether telehealth increased or decreased healthcare spending and usage by Medicare beneficiaries. The study defined by quartile health systems that had high telemedicine usage versus those with higher in-person usage, based on 2020 visits. Their conclusions tracked the changes between the 2019 baseline, 2020, and 2021-22. This study found only a modest increase after 2020 in visits and spend in the highest quartile of telemedicine usage for patient care. In 2020, patients in the highest quartile of telemedicine use had 2.5 telemedicine visits per person (26.8 percent of visits) compared with 0.7 telemedicine visits per person (9.5 percent of visits) in the lowest quartile of telemedicine use. Patients in the highest quartile had modest increases in office visits, care continuity, and medication adherence, as well as decreases in ED visits, relative to patients of health systems in the lowest quartile. During 2021–22, relative to the lowest quartile, patients in the highest quartile had an increase of 0.21 total outpatient visits (telemedicine and in-person) per patient per year (2.2 percent relative increase) That group also had a decrease of 14.4 annual non-COVID-19 emergency department visits per 1,000 patients per year (2.7 percent relative decrease) Per patient per year spending increased by $248 (1.6 percent relative increase) They also had increased adherence for metformin and statins. There were no clear differential changes in hospitalizations or receipt of preventive care. The researchers contend their findings confirm that the flexibilities around telehealth instituted during the pandemic for Medicare beneficiaries should continue past their scheduled expiration at the end of 2024. The moderate spending increase is also confirmed by another study through 2021 by the Medicare Payment Advisory Commission found that geographic areas with higher telemedicine uptake had a spending increase of $165 per patient and a 3 percent relative increase in total clinical encounters. Healthcare Dive]]></description>
<content:encoded><![CDATA[A newly published study in April’s <a href="https://academic.oup.com/healthaffairsscholar/article/2/4/qxae040/7639493?login=false" target="_blank" rel="noopener">Health Affairs Scholar</a> points to telehealth’s surprisingly low reimbursable takeup among tradtional Medicare beneficiaries–even during the pandemic. This study evaluates E&M (evaluation and management) Current Procedural Terminology (CPT) billing against codes that were established during the pandemic to pay providers for telehealth (e-visits in the study), 99421-99423. It also broke down e-visits by different clinician types: primary care, medical specialties, surgical specialties, behavioral health, nurse practitioners, and physician assistants, and counted the most frequent diagnoses. E-visits constituted less than 0.1% of E&M services in the monitored period, 2020-22.
Key findings:
<ul>
<li>E-visit billing hit an absolute peak in April 2020 of 728 monthly encounters per 100,000 beneficiaries. It dropped off dramatically by summer 2020 and later stabilized to approximately 90 monthly encounters per 100,000 beneficiaries.</li>
<li>Only 0.8% of Medicare beneficiaries who received an E&M service were billed for at least one e-visit.</li>
<li>E-visits constituted 0.09%, 0.05%, and 0.05% of all E&M services in 2020, 2021, and 2022.</li>
<li>Primary care providers accounted for over 50% of the billing.</li>
<li>Approximately 30% were billed at the highest level of clinician time, requiring at least 21 minutes.</li>
<li>Hypertension was the most common diagnosis addressed in e-visits (21%), followed by diabetes (2.3%) and COVID-19 (2%).</li>
<li>Surprisingly, fewer beneficiaries receiving e-visits lived in rural areas.</li>
</ul>
<a href="https://healthexec.com/topics/patient-care/telehealth/medicare-study-billed-patient-portal-messages-telehealth" target="_blank" rel="noopener">HealthExec</a>
Note to Readers: for those puzzled by the absence of mental health diagnoses, <a href="https://s3.amazonaws.com/media2.fairhealth.org/infographic/telehealth/jan-2024-national-telehealth.pdf" target="_blank" rel="noopener">FAIR Health’s monthly telehealth tracker</a> which during the pandemic showed Covid/respiratory diagnoses first, then mental health–and mental health as #1 in about 5% of claims since then –FAIR uses a different methodology. It tracks medical claims for private health plans only, not traditional Medicare, Medicare Advantage, or Medicaid. It also does a comparison on CPT 99213, comparing a specific procedure provided via telehealth to the same procedure provided in an office. <a href="https://www.prnewswire.com/news-releases/fair-healths-monthly-telehealth-regional-tracker-enters-fifth-year-302116055.html" target="_blank" rel="noopener">15 April methodology release</a>
Editor’s Note, strictly anecdotal: As someone who worked as the sole marketer for a management services company with primary care ACOs during the period in early 2020 when HHS was turning out new codes nearly hourly to create telehealth flexibilities in Medicare, there was considerable confusion around codes and what they covered. Our teams, sourcing from HHS and the AMA, had our hands full to correctly specify and document the CPT codes established at that time. I know because I worked on said documentation that we condensed into a two-page fast guide and then into presentations. Many of the codes were telephonic. My conclusion about this study is that it was very narrow and tracked too few codes. Other factors: practices had difficulty using audio/video telehealth with their patient populations–if the practices had it, patients weren’t ready (tech barriers) or willing to use. Some of the practices reported that they didn’t bill for telehealth encounters during this confused time, trading off reimbursement for overall patient care and marking up quality metrics such as Annual Wellness Visits.
A second telehealth study, published this month in <a href="https://www.healthaffairs.org/doi/10.1377/hlthaff.2023.01142" target="_blank" rel="noopener">Health Affairs</a>, looked at health systems to assess whether telehealth increased or decreased healthcare spending and usage by Medicare beneficiaries. The study defined by quartile health systems that had high telemedicine usage versus those with higher in-person usage, based on 2020 visits. Their conclusions tracked the changes between the 2019 baseline, 2020, and 2021-22. This study found only a modest increase after 2020 in visits and spend in the highest quartile of telemedicine usage for patient care.
<ul>
<li>In 2020, patients in the highest quartile of telemedicine use had 2.5 telemedicine visits per person (26.8 percent of visits) compared with 0.7 telemedicine visits per person (9.5 percent of visits) in the lowest quartile of telemedicine use.</li>
<li>Patients in the highest quartile had modest increases in office visits, care continuity, and medication adherence, as well as decreases in ED visits, relative to patients of health systems in the lowest quartile.</li>
<li>During 2021–22, relative to the lowest quartile, patients in the highest quartile had an increase of 0.21 total outpatient visits (telemedicine and in-person) per patient per year (2.2 percent relative increase)</li>
<li>That group also had a decrease of 14.4 annual non-COVID-19 emergency department visits per 1,000 patients per year (2.7 percent relative decrease)</li>
<li>Per patient per year spending increased by $248 (1.6 percent relative increase)</li>
<li>They also had increased adherence for metformin and statins.</li>
<li>There were no clear differential changes in hospitalizations or receipt of preventive care.</li>
</ul>
The researchers contend their findings confirm that the flexibilities around telehealth instituted during the pandemic for Medicare beneficiaries should continue past their scheduled expiration at the end of 2024. The moderate spending increase is also confirmed by another study through 2021 by the Medicare Payment Advisory Commission found that geographic areas with higher telemedicine uptake had a spending increase of $165 per patient and a 3 percent relative increase in total clinical encounters. <a href="https://www.healthcaredive.com/news/telehealth-medicare-cost-quality-utilization-health-affairs/713610/" target="_blank" rel="noopener">Healthcare Dive</a>
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<title>Short takes: VA seeks vendor to support EHR testing; Defense Health seeks ‘digital front door’ vendor; GAO recommendations to Oracle; Nonin partners with Finland’s Medixine; Lumeris gains $100M equity funding</title>
<link>https://telecareaware.com/short-takes-va-seeks-vendor-to-support-ehr-testing-defense-health-seeks-digital-front-door-vendor-gao-recommendations-to-oracle-nonin-partners-with-finlands-medixine-lumeris-gains-100m-equ/</link>
<comments>https://telecareaware.com/short-takes-va-seeks-vendor-to-support-ehr-testing-defense-health-seeks-digital-front-door-vendor-gao-recommendations-to-oracle-nonin-partners-with-finlands-medixine-lumeris-gains-100m-equ/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Wed, 24 Apr 2024 03:28:16 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[Defense Health Agency]]></category>
<category><![CDATA[GAO]]></category>
<category><![CDATA[Lumeris]]></category>
<category><![CDATA[Medixine]]></category>
<category><![CDATA[MHS Genesis]]></category>
<category><![CDATA[Nonin]]></category>
<category><![CDATA[Oracle Cerner]]></category>
<category><![CDATA[va]]></category>
<category><![CDATA[value based care]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37230</guid>
<description><![CDATA[VA needs support for testers of the Oracle Cerner EHR. Formally, this is called the Independent Enterprise Testing and Support Services Contract for the Department of Veterans Affairs. This will support the testing community overseen by the VA Electronic Health Record Modernization (EHRM) Integration Office Program which is part of the transition/deployment to the Oracle Cerner EHR. The IETSS covers project management, test and evaluation support, testing and technology support, test systems engineering and implementation support and test process, and quality management support. As is typical of Federal/VA contracts, it is a hybrid firm-fixed-price and time-and-materials contract with a 12-month base period of performance, four 12-month options, with an optional transition support period at the end of the period of performance. Responses are due by 3 May. ExecutiveGov, contract/application details on SAM.gov The Defense Health Agency (DHA) wants to build a ‘digital front door’ for health services. Partnering with the Defense Innovation Unit (DIU) at the Pentagon, what’s required is creation of a “technology-enabled framework” in a “new model for delivering care’ integrated with or replacing their current system and that “removes administrative, cognitive and repetitive burdens from the workforce.” This can be supplied by a single vendor or a team of vendors. The change areas are patient experience, provider-supported technology in the health ecosystem, and data management support. NextGov/FCW, DHA press release The Digital Front Door Plus solicitation with details has a response due by 1 May The US Government Accountability Office (GAO) has recommendations coming out of their ongoing user satisfaction study of MHS Genesis that impact the joint MHS/VA implementation at the MHS Genesis Lovell FHCC implementation. This went live in March. The recommendation for the VA side is that “the Secretary of Veterans Affairs should direct the Federal EHR Modernization Office to identify and address specific barriers to maximizing integration at the FHCC, consistent with the FHCC executive agreement.” GAO report summary Shifting away from government work… Finnish health tech company Medixine is expanding its partnership with Nonin’s med monitors. Medixine will be co-developing with Nonin Medical remote digital monitoring services for patient diagnoses of chronic conditions. The first usage combines the Medixine monitoring platform with Nonin’s pulse oximetry devices in areas such as sleep screening using overnight sleep oximetry. This can determine if patients need and qualify for supplemental oxygen or require further testing for sleep apnea in a single night’s test. Medixine release   Lumeris completes a $100 million equity capital raise. The 2 April round announced on Monday was led by lender Deerfield Management and new investor Endeavor Health. Also participating were existing investors Kleiner Perkins, Sandbox Industries, BlueCross BlueShield Venture Partners, and JDLinx (an investment company owned by John Doerr). Total funding now tops $325 million (Crunchbase). Lumeris describes itself as a care strategy, technology, and operations provider for large provider groups to manage all value-based populations, including Medicare Advantage, traditional Medicare, commercial, and Medicaid. The new funding will support expanded partnerships with health systems and physician groups to move them into value-based care models. Mobihealthnews, release]]></description>
<content:encoded><![CDATA[VA needs support for testers of the Oracle Cerner EHR. Formally, this is called the Independent Enterprise Testing and Support Services Contract for the Department of Veterans Affairs. This will support the testing community overseen by the VA Electronic Health Record Modernization (EHRM) Integration Office Program which is part of the transition/deployment to the Oracle Cerner EHR. The IETSS covers project management, test and evaluation support, testing and technology support, test systems engineering and implementation support and test process, and quality management support. As is typical of Federal/VA contracts, it is a hybrid firm-fixed-price and time-and-materials contract with a 12-month base period of performance, four 12-month options, with an optional transition support period at the end of the period of performance. Responses are due by 3 May. <a href="https://executivegov.com/2024/04/va-seeks-vendors-to-support-tande-work-on-modernized-electronic-health-record-platform/" target="_blank" rel="noopener">ExecutiveGov</a>, contract/application details on <a href="https://sam.gov/opp/b6fda4f9f812410a9c712ed9dbd3b843/view" target="_blank" rel="noopener">SAM.gov</a>
The Defense Health Agency (DHA) wants to build a ‘digital front door’ for health services. Partnering with the Defense Innovation Unit (DIU) at the Pentagon, what’s required is creation of a “technology-enabled framework” in a “new model for delivering care’ integrated with or replacing their current system and that “removes administrative, cognitive and repetitive burdens from the workforce.” This can be supplied by a single vendor or a team of vendors. The change areas are patient experience, provider-supported technology in the health ecosystem, and data management support. <a href="https://www.nextgov.com/modernization/2024/04/dha-looks-contract-digital-front-door-modernize-its-health-system/395924/" target="_blank" rel="noopener">NextGov/FCW</a>, <a href="https://www.dvidshub.net/news/468852/work-with-us-defense-health-agency-seeks-commercial-solutions-support-transformation-military-health-care" target="_blank" rel="noopener">DHA press release</a> The Digital Front Door Plus solicitation <a href="https://www.diu.mil/work-with-us/submit-solution/PROJ00505" target="_blank" rel="noopener">with details has a response due by 1 May</a>
The US Government Accountability Office (GAO) has recommendations coming out of their ongoing user satisfaction study of MHS Genesis that impact the joint MHS/VA implementation at the MHS Genesis Lovell FHCC implementation. This went <a href="https://telecareaware.com/news-roundup-cerner-goes-live-at-va-dod-lovell-center-webmd-expands-education-with-healthwise-buy-dexcom-has-fda-ok-for-otc-glucose-sensor-centene-may-have-buyer-for-abandoned-charlotte-hq/" target="_blank" rel="noopener">live in March</a>. The recommendation for the VA side is that “the Secretary of Veterans Affairs should direct the Federal EHR Modernization Office to identify and address specific barriers to maximizing integration at the FHCC, consistent with the FHCC executive agreement.” <a href="https://www.gao.gov/products/gao-24-106187" target="_blank" rel="noopener">GAO report summary</a>
Shifting away from government work…
<a href="https://telecareaware.com/short-takes-va-seeks-vendor-to-support-ehr-testing-defense-health-seeks-digital-front-door-vendor-gao-recommendations-to-oracle-nonin-partners-with-finlands-medixine-lumeris-gains-100m-equ/medixine_laptop_suite9_dashboard_white-background/" rel="attachment wp-att-37232"><img loading="lazy" decoding="async" class="alignleft wp-image-37232" src="https://telecareaware.com/wp-content/uploads/2024/04/Medixine_laptop_Suite9_dashboard_white-background-e1713928214170.png" alt="" width="255" height="171" srcset="https://telecareaware.com/wp-content/uploads/2024/04/Medixine_laptop_Suite9_dashboard_white-background-e1713928214170.png 2406w, https://telecareaware.com/wp-content/uploads/2024/04/Medixine_laptop_Suite9_dashboard_white-background-e1713928214170-300x200.png 300w, https://telecareaware.com/wp-content/uploads/2024/04/Medixine_laptop_Suite9_dashboard_white-background-e1713928214170-1024x684.png 1024w, https://telecareaware.com/wp-content/uploads/2024/04/Medixine_laptop_Suite9_dashboard_white-background-e1713928214170-768x513.png 768w, https://telecareaware.com/wp-content/uploads/2024/04/Medixine_laptop_Suite9_dashboard_white-background-e1713928214170-1536x1025.png 1536w, https://telecareaware.com/wp-content/uploads/2024/04/Medixine_laptop_Suite9_dashboard_white-background-e1713928214170-2048x1367.png 2048w" sizes="(max-width: 255px) 100vw, 255px" /></a>Finnish health tech company Medixine is expanding its partnership with Nonin’s med monitors. Medixine will be co-developing with Nonin Medical remote digital monitoring services for patient diagnoses of chronic conditions. The first usage combines the Medixine monitoring platform with Nonin’s pulse oximetry devices in areas such as sleep screening using overnight sleep oximetry. This can determine if patients need and qualify for supplemental oxygen or require further testing for sleep apnea in a single night’s test. <a href="https://medixine.com/medixine-nonin-press-release/" target="_blank" rel="noopener">Medixine release</a>
 
Lumeris completes a $100 million equity capital raise. The 2 April round announced on Monday was led by lender Deerfield Management and new investor Endeavor Health. Also participating were existing investors Kleiner Perkins, Sandbox Industries, BlueCross BlueShield Venture Partners, and JDLinx (an investment company owned by John Doerr). Total funding now tops $325 million (<a href="https://www.crunchbase.com/organization/lumeris/company_financials" target="_blank" rel="noopener">Crunchbase</a>). Lumeris describes itself as a care strategy, technology, and operations provider for large provider groups to manage all value-based populations, including Medicare Advantage, traditional Medicare, commercial, and Medicaid. The new funding will support expanded partnerships with health systems and physician groups to move them into value-based care models. <a href="https://www.mobihealthnews.com/news/value-based-care-strategy-company-lumeris-secures-100m" target="_blank" rel="noopener">Mobihealthnews</a>, <a href="https://www.prnewswire.com/news-releases/lumeris-completes-100m-equity-growth-capital-investment-round-302122454.html" target="_blank" rel="noopener">release</a>
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<title>What the DOJ and FTC Merger Guidelines mean for healthcare M&A–a Epstein Becker Green podcast</title>
<link>https://telecareaware.com/what-the-doj-and-ftc-merger-guidelines-mean-for-healthcare-ma-a-epstein-becker-green-podcast/</link>
<comments>https://telecareaware.com/what-the-doj-and-ftc-merger-guidelines-mean-for-healthcare-ma-a-epstein-becker-green-podcast/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Tue, 23 Apr 2024 23:05:22 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[DOJ]]></category>
<category><![CDATA[Epstein Becker Green]]></category>
<category><![CDATA[FTC]]></category>
<category><![CDATA[M&A]]></category>
<category><![CDATA[Merger Guidelines]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37225</guid>
<description><![CDATA[Are you in the (mostly) lucky group of companies seeking to buy or be bought? This podcast is a ‘must hear’ as likely you’ll be affected. Healthcare law firm Epstein Becker Green’s roundtable podcast in the ‘Diagnosing Health Care’ series is their half-hour condensed view on the new Federal Merger Guidelines that the Department of Justice (DOJ) and the Federal Trade Commission (FTC) finalized last 18 December. Their view on how it will affect healthcare organizations is not too different from your Editor’s lengthy review of the DOJ/FTC document published on 20 December. The DOJ/FTC end-of-year drop perhaps (ahem) was timed to bury the bad news, drowning it in a punch bowl of good cheer or in holiday busy-ness. This Editor (note: not a lawyer nor do I play one on TV or YouTube) took the view that it was that it was a whole scuttle of coal for healthcare holiday stockings (right) and that it would discourage much of 2024’s healthcare M&A until companies figured what mergers would likely past muster, among other predictions. The EBG folks mostly agree. They also point out that the final Guidelines’ language is “more aggressive” than the draft that many healthcare organizations took issue with–what the article referred to as “substantially more restrictive language and interpretation”. There are some wins from the draft, but much of the language, especially on vertical mergers, simply moved into one or another of the 11 Guidelines. The EBG team on the podcast (available for play on the web page and download) are Trish Wagner, John Steren, and Jeremy Morris, moderated by Dan Fahey. Below are some key points made by the team on the podcast. Your Editor recommends that you pull up our 20 December article as a reference to the specific Guideline references they make. Background: Horizontal merger Guidelines were last updated in 2010. Vertical merger Guidelines were issued in 2020 but later rescinded. These new Guidelines apply to both horizontal and vertical mergers and acquisitions. US antitrust is based on three acts passed by Congress: The Sherman Antitrust Act (1890), the Clayton Act (1914), and the Federal Trade Commission Act of 1914, now in US Code Title 15. The Guidelines since then are based on them as well as case law. (From the wrapup) Courts tend to be very deferential to the Guidelines. The wording of Guideline #8, When a Merger is Part of a Series of Multiple Acquisitions, the Agencies May Examine the Whole Series, is both interesting and aggressive in that it will be considered and opens up a pattern of acquisitions. This can be by private equity (PE) or other owners. Guidelines #1, Mergers Raise a Presumption of Illegality When They Significantly Increase Concentration in a Highly Concentrated Market, and 2, Mergers Can Violate the Law When They Eliminate Substantial Competition Between Firms, impact hospital mergers. Prior merger guidelines focused on highly concentrated markets using a point system (HHI, the Herfindahl-Hirschman Index, is a common measure of market concentration). This measure sets a lower bar. To trigger #1, a market share above 30% and an HHI over 100 can trigger it even in unconcentrated markets. On #2, elimination of direct competition is maybe in and of itself harmful Guideline #6, Mergers Can Violate the Law When They Entrench or Extend a Dominant Position: for horizontal mergers, ‘entrench’ is in practice the operative term, whereas ‘extend’ applies mainly to vertical mergers. Companies will have to demonstrate that the beneficial competitive effects outweigh the anticompetitive, especially when involving consumers. And they will have to demonstrate why the merger is necessary. Wrapping up: Ms. Wagner: the Guidelines don’t have the force of law, but they do have impact because they are about the process on how mergers are evaluated. Courts have been very deferential to the Guidelines. Mr. Morris: hospital leaders will have to contemplate this “huge change in a moment” which he questioned. He emphasized that organizations involve their antitrust counsel now even earlier than previously. Mr. Steren: “healthcare has a bullseye on its back”. It is immediately more restrictive. It fits right in with what current enforcers do in trying to bring “persuasive authority” to bring new, novel, cases into court. He seconded Mr. Morris’ last remark. This Editor, as the Canary in the Coal Mine, will assume that UnitedHealth Group and others have already anticipated that they will have difficulty now making new acquisitions, obtaining approvals for ones that haven’t been finalized, or making quick sales of units they no longer want (Walgreens). Hospitals will find that divestiture and regional mergers will be discouraged. Acquirers who’ve been concentrating on filling out their platforms with vertical acquisitions may find that these Guidelines are also written to trip them up–and once tripped, each Guideline knocks on another. (For other predicted consequences, see the 20 December article.)]]></description>
<content:encoded><![CDATA[Are you in the (mostly) lucky group of companies seeking to buy or be bought? This podcast is a ‘must hear’ as likely you’ll be affected. Healthcare law firm <a href="https://www.ebglaw.com/insights/podcasts/key-changes-in-finalized-antitrust-merger-guidelines" target="_blank" rel="noopener">Epstein Becker Green’s </a><a href="https://www.ebglaw.com/insights/podcasts/key-changes-in-finalized-antitrust-merger-guidelines" target="_blank" rel="noopener">roundtable </a><a href="https://www.ebglaw.com/insights/podcasts/key-changes-in-finalized-antitrust-merger-guidelines" target="_blank" rel="noopener">podcast in the ‘Diagnosing Health Care’ series</a> is their half-hour condensed view on the new Federal Merger Guidelines that the Department of Justice (DOJ) and the Federal Trade Commission (FTC) finalized last 18 December. Their view on how it will affect healthcare organizations is not too different from your Editor’s lengthy review of the DOJ/FTC document published on <a href="https://telecareaware.com/doj-and-ftc-finalize-merger-guidelines-deliver-coal-for-holiday-stockings/" target="_blank" rel="noopener">20 December</a>. The DOJ/FTC end-of-year drop perhaps (ahem) was timed to bury the bad news, drowning it in a punch bowl of good cheer or in holiday busy-ness.
This Editor (note: not a lawyer nor do I play one on TV or YouTube) took the view that it was that it was a whole scuttle of coal for healthcare holiday stockings<a href="https://telecareaware.com/doj-and-ftc-finalize-merger-guidelines-deliver-coal-for-holiday-stockings/coal-scuttle/" rel="attachment wp-att-36682"><img loading="lazy" decoding="async" class=" wp-image-36682 alignright" src="https://telecareaware.com/wp-content/uploads/2023/12/Coal-scuttle.jpg" alt="" width="201" height="129" srcset="https://telecareaware.com/wp-content/uploads/2023/12/Coal-scuttle.jpg 513w, https://telecareaware.com/wp-content/uploads/2023/12/Coal-scuttle-300x192.jpg 300w" sizes="(max-width: 201px) 100vw, 201px" /></a> (right) and that it would discourage much of 2024’s healthcare M&A until companies figured what mergers would likely past muster, among other predictions. The EBG folks mostly agree. They also point out that the final Guidelines’ language is “more aggressive” than the draft that many healthcare organizations took issue with–what the article referred to as “substantially more restrictive language and interpretation”. There are some wins from the draft, but much of the language, especially on vertical mergers, simply moved into one or another of the 11 Guidelines.
The EBG team on the <a href="https://www.ebglaw.com/insights/podcasts/key-changes-in-finalized-antitrust-merger-guidelines" target="_blank" rel="noopener">podcast</a> (available for play on the web page and download) are Trish Wagner, John Steren, and Jeremy Morris, moderated by Dan Fahey. Below are some key points made by the team on the podcast. Your Editor recommends that you pull up our <a href="https://telecareaware.com/doj-and-ftc-finalize-merger-guidelines-deliver-coal-for-holiday-stockings/" target="_blank" rel="noopener">20 December</a> article as a reference to the specific Guideline references they make.
<ul>
<li>Background: Horizontal merger Guidelines were last updated in 2010. Vertical merger Guidelines were issued in 2020 but later rescinded. These new Guidelines apply to both horizontal and vertical mergers and acquisitions. US antitrust is based on three acts passed by Congress: The Sherman Antitrust Act (1890), the Clayton Act (1914), and the Federal Trade Commission Act of 1914, now in US Code Title 15. The Guidelines since then are based on them as well as case law. (From the wrapup) Courts tend to be very deferential to the Guidelines.</li>
<li>The wording of Guideline #8, When a Merger is Part of a Series of Multiple Acquisitions, the Agencies May Examine the Whole Series, is both interesting and aggressive in that it will be considered and opens up a pattern of acquisitions. This can be by private equity (PE) or other owners.</li>
<li>Guidelines #1, Mergers Raise a Presumption of Illegality When They Significantly Increase Concentration in a Highly Concentrated Market, and 2, Mergers Can Violate the Law When They Eliminate Substantial Competition Between Firms, impact hospital mergers. Prior merger guidelines focused on highly concentrated markets using a point system (HHI, the Herfindahl-Hirschman Index, is a common measure of market concentration). This measure sets a lower bar.
<ul>
<li>To trigger #1, a market share above 30% and an HHI over 100 can trigger it even in unconcentrated markets.</li>
<li>On #2, elimination of direct competition is maybe in and of itself harmful</li>
</ul>
</li>
<li>Guideline #6, Mergers Can Violate the Law When They Entrench or Extend a Dominant Position: for horizontal mergers, ‘entrench’ is in practice the operative term, whereas ‘extend’ applies mainly to vertical mergers. Companies will have to demonstrate that the beneficial competitive effects outweigh the anticompetitive, especially when involving consumers. And they will have to demonstrate why the merger is necessary. </li>
<li>Wrapping up:
<ul>
<li>Ms. Wagner: the Guidelines don’t have the force of law, but they do have impact because they are about the process on how mergers are evaluated. Courts have been very deferential to the Guidelines.</li>
<li>Mr. Morris: hospital leaders will have to contemplate this “huge change in a moment” which he questioned. He emphasized that organizations involve their antitrust counsel now even earlier than previously.</li>
<li>Mr. Steren: “healthcare has a bullseye on its back”. It is immediately more restrictive. It fits right in with what current enforcers do in trying to bring “persuasive authority” to bring new, novel, cases into court. He seconded Mr. Morris’ last remark.</li>
</ul>
</li>
</ul>
<a href="https://telecareaware.com/latest-news/virus-almost-free-news-ceras-70m-raise-rx-healths-rxstitch-remote-teledentistry-to-rescue-alcuris-responds-caravan-buys-wellpepper-and-teladocs-heavy-reading/canary-in-the-coal-mine-jpgw595/" rel="attachment wp-att-30172"><img loading="lazy" decoding="async" class="alignleft wp-image-30172" src="https://telecareaware.com/wp-content/uploads/2017/12/canary-in-the-coal-mine.jpgw595.jpeg" alt="" width="201" height="155" srcset="https://telecareaware.com/wp-content/uploads/2017/12/canary-in-the-coal-mine.jpgw595.jpeg 500w, https://telecareaware.com/wp-content/uploads/2017/12/canary-in-the-coal-mine.jpgw595-300x232.jpeg 300w" sizes="(max-width: 201px) 100vw, 201px" /></a>This Editor, as the Canary in the Coal Mine, will assume that UnitedHealth Group and others have already anticipated that they will have difficulty now making new acquisitions, obtaining approvals for ones that haven’t been finalized, or making quick sales of units they no longer want (Walgreens). Hospitals will find that divestiture and regional mergers will be discouraged. Acquirers who’ve been concentrating on filling out their platforms with vertical acquisitions may find that these Guidelines are also written to trip them up–and once tripped, each Guideline knocks on another. (For other predicted consequences, see the 20 December article.)
]]></content:encoded>
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<title>Breaking: UnitedHealth admits to paying ransomwareistes on Change stolen patient data (updated)</title>
<link>https://telecareaware.com/breaking-unitedhealth-admits-to-paying-ransomwareistes-on-change-stolen-patient-data/</link>
<comments>https://telecareaware.com/breaking-unitedhealth-admits-to-paying-ransomwareistes-on-change-stolen-patient-data/#respond</comments>
<dc:creator><![CDATA[Donna Cusano]]></dc:creator>
<pubDate>Tue, 23 Apr 2024 17:12:23 +0000</pubDate>
<category><![CDATA[Latest News]]></category>
<category><![CDATA[Opinion]]></category>
<category><![CDATA[ALPHV]]></category>
<category><![CDATA[BlackCat]]></category>
<category><![CDATA[Change Healthcare]]></category>
<category><![CDATA[UnitedHealth Group]]></category>
<guid isPermaLink="false">https://telecareaware.com/?p=37221</guid>
<description><![CDATA[Admitted, finally, to CNBC on Monday. UnitedHealth told CNBC in a statement. “A ransom was paid as part of the company’s commitment to do all it could to protect patient data from disclosure.” UHG’s release alludes to this but without specifics as to what entity was paid (ALPHV? RansomHub?) nor the amount. It vaguely states that it reviewed 22 screenshots “some containing PHI and PII, posted for about a week on the dark web by a malicious threat actor” and that “it is likely to take several months of continued analysis before enough information will be available to identify and notify impacted customers and individuals”. This seems to point to the most recent RansomHub offer of 4TB of Change Healthcare PHI/PII for sale, not the original breach, but UHG’s information is inconclusive for the reader. Also Becker’s. However, the admission that Change files were breached and a ransom was paid is substantial and points to multiple leaks of the PHI and PII on multiple sites. Despite no identification and notification of customers yet, UHG is offering a support hotline to individuals concerned about the cyberattack, offering free credit monitoring and identity theft protections for two years plus “emotional support.” Another fun fact that DataBreaches.net points to in its short article is that the Wall Street Journal (also cited by TechCrunch) said that its research indicated that the original breach came from stolen remote access credentials. It took only a week for ALPHV’s hackers to explore the system before deploying the cyberransom and hacking software through Change’s systems. Updated: the WSJ pins the original breach to 12 February but the hackers didn’t ‘detonate’ the ransomware till 21 February. Also multi-factor authentication is standard operating procedure for remote access, but MFA wasn’t enabled on this. Developing and will be updated. Our article posted on Monday here with links to our prior articles.]]></description>
<content:encoded><![CDATA[Admitted, finally, to <a style="color: #ff0000;" href="https://www.cnbc.com/amp/2024/04/22/unitedhealth-paid-ransom-to-bad-actors-says-patient-data-was-compromised-in-change-healthcare-cyberattack.html" target="_blank" rel="noopener">CNBC on Monday</a>. UnitedHealth told CNBC in a statement. “A ransom was paid as part of the company’s commitment to do all it could to protect patient data from disclosure.” UHG’s <a href="https://www.unitedhealthgroup.com/newsroom/2024/2024-04-22-uhg-updates-on-change-healthcare-cyberattack.html" target="_blank" rel="noopener">release</a> alludes to this but without specifics as to what entity was paid (ALPHV? RansomHub?) nor the amount. It vaguely states that it reviewed 22 screenshots “some containing PHI and PII, posted for about a week on the dark web by a malicious threat actor” and that “it is likely to take several months of continued analysis before enough information will be available to identify and notify impacted customers and individuals”. This seems to point to the most recent RansomHub offer of 4TB of Change Healthcare PHI/PII for sale, not the original breach, but UHG’s information is inconclusive for the reader. Also <a href="https://www.beckershospitalreview.com/cybersecurity/unitedhealth-paid-ransom-for-patient-data.html" target="_blank" rel="noopener">Becker’s.</a>
However, the admission that Change files were breached and a ransom was paid is substantial and points to multiple leaks of the PHI and PII on multiple sites. Despite no identification and notification of customers yet, UHG is offering a <a href="https://www.unitedhealthgroup.com/ns/health-data-breach.html" target="_blank" rel="noopener">support hotline</a> to individuals concerned about the cyberattack, offering free credit monitoring and identity theft protections for two years plus “emotional support.”
Another fun fact that <a href="https://databreaches.net/unitedhealth-paid-ransom-to-bad-actors-says-patient-data-was-compromised-in-change-healthcare-cyberattack/" target="_blank" rel="noopener">DataBreaches.net</a> points to in its short article is that the <a href="https://www.wsj.com/articles/change-healthcare-hackers-broke-in-nine-days-before-ransomware-attack-7119fdc6?st=begxy6y2ji8yyf5&mod=googlenewsfeed" target="_blank" rel="noopener">Wall Street Journal</a> (also cited by TechCrunch) said that its research indicated that the original breach came from stolen remote access credentials. It took only a week for ALPHV’s hackers to explore the system before deploying the cyberransom and hacking software through Change’s systems. Updated: the WSJ pins the original breach to 12 February but the hackers didn’t ‘detonate’ the ransomware till 21 February. Also multi-factor authentication is standard operating procedure for remote access, but MFA wasn’t enabled on this. Developing and will be updated. Our article posted on Monday <a href="https://telecareaware.com/who-really-has-the-4tb-of-change-healthcare-data-4-sale-and-in-great-timing-optum-lays-off-a-rumored-20k-say-wot/" target="_blank" rel="noopener">here</a> with links to our prior articles.
]]></content:encoded>
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