$1 Billion Gift Covers All Tuition At Albert Einstein College Of Medicine
The gargantuan donation comes from Ruth Gottesman, a former faculty member and board chair. The Wall Street Journal notes that tuition fees alone at the college cost $60,000 a year. Also in the news, Steward Health Care, UnitedHealth, Elevance, Centene, VillageMD, and more.
The Wall Street Journal:
New Billion-Dollar Gift To Cover Tuition For All At Albert Einstein College Of Medicine
The Albert Einstein College of Medicine will now be tuition-free for all students, thanks to a historic $1 billion gift from a former faculty member and board chair. The donation comes from Ruth Gottesman, who after joining the faculty at the Bronx, N.Y.-based Einstein in 1968 developed widely used tools to screen children for learning problems and launched an adult literacy program. Gottesman, 93 years old, and her husband, the late billionaire-investor David “Sandy” Gottesman, were longtime donors to the medical school, and Ruth Gottesman serves as chair of its board of trustees. Einstein’s tuition this year is nearly $60,000, and the school recommends students budget at least another $35,000 a year for living expenses, books and other incidentals. The program lasts four years. ...Students assembled Monday morning to hear Gottesman announce the gift jumped up to hug one another, cheered, and grew tearful upon learning their new financial fate. (Korn, 2/26)
In other health care industry news —
The Boston Globe:
‘It Frankly Disgusts Me.’ Healey Steps Up Criticism Of Steward
Governor Maura Healey on Monday intensified her criticisms of the troubled Steward Health Care hospital system and its chief executive, calling the company’s financial situation a “house of cards” and a “charade” that is threatening the state’s health care market. The first-term Democrat’s comments came just days after Steward officials submitted some financial data, but not all, in response to a Friday deadline set by Healey. (Stout, 2/26)
Stat:
R1 RCM Gets $5.8 Billion Buyout Offer From Private Equity Firm
R1 RCM, a large publicly traded technology company that helps hospitals and physicians collect money from insurers and patients, may be going private. (Herman, 2/26)
Modern Healthcare:
UnitedHealth, Elevance, Centene Earned Big Investment Income In 2023
Health insurance companies had a terrific 2023 on Wall Street—as investors. Some of the largest publicly traded health insurers raked in the largest investment gains in at least a decade last year, according to a Modern Healthcare analysis of financial filings. These windfalls helped boost finances for insurers contending with headwinds such as higher-than-expected Medicare Advantage spending. (Tepper, 2/26)
Stat:
New Documents Shed Light On MD Anderson Cancer Institute Feud
Early last year, MD Anderson Cancer Center leadership had a problem on their hands: a contentious dispute between one of its most powerful researchers and a junior scientist over authorship, credit, and charges of verbal abuse. High-ranking officials at the cancer center tried — and failed — to resolve the feud, and documents obtained by STAT shed new light on the deep divisions at the heart of this case. (Chen, 2/26)
Modern Healthcare:
What VillageMD Clinic Closings Mean For Walgreens’ Strategy
Walgreens' decision to close dozens of VillageMD primary care clinics attached to its stores has left some industry watchers questioning whether the pharmacy chain's strategy is viable. ... All of the affected clinics are attached to Walgreens stores, a model executives had touted as a way to encourage better collaboration between physicians and pharmacists. The convenience of locating a medical office right next to a pharmacy was also viewed as a selling point for patients. (Hudson, 2/23)
Also —
KFF Health News:
Without Medicare Part B’s Shield, Patient’s Family Owes $81,000 For A Single Air-Ambulance Flight
Debra Prichard was a retired factory worker who was careful with her money, including what she spent on medical care, said her daughter, Alicia Wieberg. “She was the kind of person who didn’t go to the doctor for anything.” That ended last year, when the rural Tennessee resident suffered a devastating stroke and several aneurysms. She twice was rushed from her local hospital to Vanderbilt University Medical Center in Nashville, 79 miles away, where she was treated by brain specialists. She died Oct. 31 at age 70. (Leys, 2/27)
The 19th:
Mother Files Lawsuit Against New York Hospital, Fights To Bring Her Baby Home
Thalia Gonzalez arrived at Long Island Jewish Medical Center prepared. When she checked in for her scheduled induction on July 6, she had her cousin and sister-in-law with her for support, a car seat ready to take her newborn son home, and a small bassinet. But when Gonzalez left the hospital four days later, the car seat was empty, the bassinet unused. Though her son was in good health, Gonzalez was discharged not knowing when she would have him home with her. She still doesn’t know. (Gerson, 2/26)
The Baltimore Sun:
This Doctor Got A Shoutout From Gov. Moore And Is Overcoming Systemic Barriers
Dr. Elizabeth Clayborne is beating the odds. Since she started fundraising in 2021, Clayborne said she’s raised $3.25 million for her medical device company, NasaClip. As a biracial Black woman, the numbers aren’t necessarily always on Clayborne’s side — in 2021, startups founded by Black women received just 0.34% of venture capital funds nationally — but she wants to be more than the exception. (Lora, 2/27)
Axios:
An Unexpected Finding Suggests Full Moons May Actually Be Tough On Hospitals
The idea that a full moon drives strange behavior is so deeply ingrained in our culture that some superstitious hospitals even bulk up on staffing when one is coming. New data from hospital safety company Canopy suggests, well, they might be onto something. (Reed, 2/23)
