New Report Shows The True Cost Of Violence In Hospitals
In 2023, providers spent $18.3 billion to prevent and prepare for violence and its fallout, according to estimates from the University of Washington. Other news is on the rise of "femtech;" staff cuts at Hims & Hers Health; and more.
Modern Healthcare:
Hospitals Spent $18.3B Managing Violence In 2023: AHA Report
Hospitals spend billions of dollars a year managing patients and staff who face assault, murder, suicide, shootings and other violent acts, according to a new report commissioned by the American Hospital Association. Providers spent $18.3 billion in 2023 to prevent and prepare for violence, treat patients and grapple with violence-related fallout such as staff turnover and post-traumatic stress disorder, according to estimates from the University of Washington. Researchers used Centers for Disease Control and Prevention data and other sources to trace roughly three-quarters of the costs to treating patients with violent injuries. (Kacik, 6/1)
The Washington Post:
Tech Industry Aims To Capitalize On Women’s Health Needs
Could you use some discreet help with birth control from a $14.99-a-month period-tracking app? ... These products and more are part of a fast-growing industry known as “femtech” — high-tech solutions for women’s health needs — whose many female founders say they’re tackling age-old inequities. Investors have jumped in, growing the market from $40.2 billion in 2020 to a projected $75 billion this year. (Ellison, 6/1)
Cuts and buyouts —
Bloomberg:
Telehealth Firm Hims Cuts 4% Of Staff In Strategy Shift
Hims & Hers Health Inc. is cutting more than 4% of its workforce as it pivots away from selling cheap copycat versions of popular weight-loss drugs. The San Francisco-based telehealth company employs more than 1,600 staff. The moves will affect 68 people across various divisions, a spokesperson said. The company didn’t say which positions will be affected, but emphasized the changes will “sharpen” how it executes its business plans and won’t affect the “priorities or the specialties we’re committed to.” (Muller, 5/30)
Bloomberg:
Ascension In Advanced Talks To Buy Amsurg For $3.9 Billion
AmSurg, the ambulatory surgery company once part of Envision Healthcare, is in advanced talks to sell itself to Ascension Health for about $3.9 billion, according to people with knowledge of the matter. A purchase by Ascension could be struck within weeks, said the people, who asked not to be identified discussing confidential information. A final agreement hasn’t been reached and terms could change or talks could falter, they added. (Ronalds-Hannon and Davis, 5/30)
Bloomberg:
Sanofi To Buy Blueprint For $9.1 Billion Equity Value
Sanofi SA agreed to buy Blueprint Medicines Corp. for at least $9.1 billion as the French drugmaker further expands its rare immunological disease portfolio. Sanofi will pay $129 per share in cash for the US biotech, it said in a statement. That represents a 27% premium to Blueprint’s closing price on Friday. (Sedgman, Tong, and Furlong, 6/2)
Insurance industry updates —
The Wall Street Journal:
How UnitedHealth And CEO Andrew Witty Missed The Mark
On Feb. 5, top executives of UnitedHealth Group gathered in a conference center on the company’s suburban Minneapolis campus. Chief Executive Officer Andrew Witty stood up in the front and offered an encouraging message: Business was good. He was optimistic about the company’s prospects in the coming year. A trio of other executives extolled the recent insurance season, when people start their new coverage, including a large number of Medicare enrollees. They were happy with how smoothly things were going. (Mathews and Weaver, 6/1)
ProPublica:
Ravi Coutinho’s Mother Sues Centene, Alleging Ghost Network Broke The Law
The mother of an Arizona man who died after being unable to find mental health treatment is suing his health insurer, saying it broke the law by publishing false information that misled its customers. Ravi Coutinho, a 36-year-old entrepreneur, bought insurance from Ambetter, the most popular plan on HealthCare.gov, because it seemed to offer plenty of mental health and addiction treatment options near his home in Phoenix. But after struggling for months in early 2023 to find in-network care covered by his plan, he wasn’t able to find a therapist. In May 2023, after 21 calls with the insurer without getting the treatment he sought, he was found dead in his apartment. His death was ruled an accident, likely due to complications from excessive drinking. (Blau, 6/2)
