Labor Union Sues 3 Health Providers, Alleging Racism In Dialysis Care
According to the labor union suing DaVita, Fresenius Medical Care and Satellite Healthcare, Latino and Asian patients are more likely to experience adverse symptoms during hemodialysis. Investment in Black-owned health tech firms and news on the illustrator who drew a black fetus is also reported.
Modern Healthcare:
Unions Sue DaVita, Fresenius Over Alleged Discriminatory Dialysis
A labor union sued DaVita, Fresenius Medical Care and Satellite Healthcare on Tuesday, alleging Latino and Asian patients are more likely to experience adverse symptoms during hemodialysis at the companies' California centers. The Service Employees International Union-United Healthcare Workers West and the National Health Law Program allege nearly one in five treatments delivered to Asian patients and one in seven treatments given to Latino patients are administered at high speeds above 13 milliliters per hour. That's a higher rate than white patients, according to the groups' analysis of renal data submitted to the Centers for Medicare & Medicaid Services. (Devereaux, 1/11)
In other news about health and race —
Modern Healthcare:
$55M Fund To Invest In Black-Owned Health Tech Firms
Nashville-based Jumpstart Health Investors has launched a new fund that will invest exclusively in Black-founded health tech ventures. The funding round brought together nearly 100 investors — including Eli Lilly and Company, HCA Healthcare, Cardinal Health, Meharry Medical College, Vanderbilt University, American Hospital Association, Bank of America and Pinnacle Financial Partners — to raise $55 million for the seed-stage fund, dubbed Jumpstart Nova. The firm has already made four investments, including a virtual EHR platform for patients with autoimmune diseases, a biotech platform focused on cell therapy innovations, a tech-enabled behavioral health provider for children with autism and a food allergy management startup. (Hartnett, 1/12)
CNN:
The Creator Of The Viral Black Fetus Image Will Have His Illustrations Published In A Book
An illustration of a Black fetus in the womb went viral last December with many people commenting on social media that it was the first time they had seen a depiction of a dark-skinned fetus or pregnant woman. The attention came as a surprise to Chidiebere Ibe, the Nigerian first-year medical student who created the image, and describes it as "just one of my drawings to advocate for diversity in medical illustrations." (Orie, 1/13)
In other corporate news —
Houston Chronicle:
Feds Terminate UMMC Medicare Contract; Hospital Appeals Decision
Federal officials said they terminated the Medicare contract with United Memorial Medical Center after the Houston hospital system failed yet another inspection. The Centers for Medicare and Medicaid Services, which oversees the federal health insurance program for the elderly, said it will no longer reimburse United Memorial Medical Center for patients admitted to the small hospital system after Tuesday. The loss of Medicare would likely deal a crippling financial blow to United Memorial, which serves low-income neighborhoods and depends heavily on the federal reimbursements. (Carballo, 1/11)
Axios:
Scoop: GTCR Nears $1.3 Billion Deal For Electronic Health Records Company Experity
Private equity firm GTCR is nearing a deal to acquire Experity, the country's largest electronic health records company for the urgent care market, from Warburg Pincus, four sources tell Axios. The transaction is expected to value the company at between $1.2 billion and $1.3 billion, translating to an EBITDA multiple in the high teens, although no deal has yet been signed. (Pringle, 1/12)
Stat:
Telehealth Companies Are Testing The Waters With Taking On More Risk
A handful of telehealth companies are dipping into payment systems that reward them for keeping patients’ costs low and penalize them for overspending — a potentially risky move for companies still finding financial footing, but one that could win them favor with large health plans and employers. These companies are negotiating new contracts that give them a bigger financial stake in patients’ care. They can shoulder that risk in a number of ways, such as by covering the full cost of patients’ care up front and pocketing the savings, or by betting that their offerings can drive down costs and splitting the savings later. (Ravindranath, 1/13)
Axios:
Glen Tullman Does It Again
Health tech veteran Glen Tullman keeps spawning unicorns. Transcarent, a consumer-directed health care navigation company launched and led by Tullman, raised $200 million in a Series C round. The funding brings Transcarent’s total capital raised to $298 million in just over one year, placing its valuation at $1.62 billion, Forbes reports. (Pringle and Brodwin, 1/12)
