Health Employers Hired More In July Than June
Data reported by Modern Healthcare show health industry employers had an employment spike in July, with new hires up over the previous month and the largest gains in ambulatory services and hospitals. And earnings reports show how labor costs hit second quarter financials for health companies.
Modern Healthcare:
Healthcare Jobs Report Shows Hiring Rise In July
Healthcare employers added an estimated 69,600 jobs in July as hiring rose from the previous month, according to preliminary U.S. Bureau of Labor Statistics data released Friday. Healthcare jobs accounted for 13.3% of hires across the economy last month. Ambulatory services, including health practitioners, and hospitals saw the largest gains among healthcare employers. (Hudson, 8/5)
Modern Healthcare:
Health System's Second-Quarter Financials Mixed
Labor costs, driven by demand for contract workers amid staff shortages, were the hot topic in the hospital industry's second-quarter earnings reports. Health system are doling out higher pay and bonuses to attract workers, despite ongoing financial challenges related to the COVID-19 pandemic. (Hudson, 8/5)
In corporate news —
The Wall Street Journal:
CVS Plans To Bid For Signify Health
CVS Health Corp. is seeking to buy Signify Health Inc., according to people familiar with the matter, as the drugstore and insurance giant looks to expand in home-health services. ... Signify uses analytics and technology to help health plans, employers, physician groups and health systems with in-home care. It also offers in-home health evaluations for Medicare Advantage and other government-run managed-care plans. At the close of its deal this year to buy Caravan Health Inc., Signify said it supported roughly $10 billion in total medical spending. (Lombardo, Cooper and Terlep, 8/7)
Modern Healthcare:
Advocate Aurora-Atrium's Proposed Megamerger Sparks Pricing Concerns
Two weeks after announcing plans in May to merge with Atrium and form a $27 billion health system, Advocate Aurora was hit with a federal lawsuit alleging its all-or-nothing contract provisions stymied competition and allowed the health system to raise prices. Advocate last month filed a motion to dismiss the complaint filed by a self-insured Wisconsin pharmacy. (Kacik, 8/8)
The Wall Street Journal:
UPS To Buy Italian Healthcare-Logistics Provider Bomi Group
United Parcel Service Inc. agreed to acquire Italy’s Bomi Group, as the transportation giant looks to bolster its medical-product-distribution business. ... Founded in 1985, closely held Bomi distributes a range of medical products such as imaging equipment, biological samples and pharmaceuticals to hospitals, clinics, laboratories as well as to patients’ homes. It operates in Europe and Latin America. A deal for Bomi would expand Atlanta-based UPS’s operations in those regions and underscore the growing importance of the transport of medical supplies and equipment in the wake of the Covid-19 pandemic. (Dummett and Cooper, 8/8)
Stat:
Health Industry Swarms Washington As Surprise Billing Rules Get Ironed Out
Solving surprise medical bills was supposed to be straightforward. It has been anything but. (Herman, 8/8)
On telehealth —
Stat:
Telehealth Fraud Concerns In Washington Could Impact Industry's Future
Recent federal crackdowns on Medicare fraud linked to telehealth have raised concerns in Washington that virtual care introduces new opportunities for criminals to defraud vulnerable patients. But lobbyists and researchers say risks aren’t necessarily greater than in-person, and warn that fear could drive lawmakers to make virtual care harder to access. (Ravindranath, 8/8)
Politico:
Fraud Is The Killjoy At The Telehealth Party
When the House recently passed legislation in a landslide vote extending Medicare reimbursements for medical visits that occur by video or phone call through 2024, every Democrat got on board, except one: Lloyd Doggett. In his 14th term representing an Austin, Texas, district, Doggett is a major voice on health care policy from his perch as chair of the Ways and Means Health Subcommittee. He said he isn’t against continuing a telehealth expansion that began with the pandemic, but is warning about the need to build protections against fraud into the law. (Leonard, 8/7)
Modern Healthcare:
Amwell Tapped For CVS Health's Virtual Care Platform
Amwell is working with CVS Health on its new virtual care platform, the telehealth company announced Thursday. CVS Health's offering will include remote primary care, chronic-condition management and mental healthcare, and will roll out to Aetna and CVS Caremark members next year, the company announced in May. The platform will also help members find in-network specialists and other providers for in-person care. (Kim Cohen, 8/5)
