Morning Briefing
Summaries of health policy coverage from major news organizations
Some JPMorgan Chase Employees Can Get Medical Care Right There At Work
Modern Healthcare: JPMorgan Chase Partners With Primary Care Practices For Employee Clinics
JPMorgan Chase has ventured into the primary care space by partnering with two medical practices to create office-based clinics for its employees in what could be a pilot for a broader effort. (Hudson, 10/24)
In other corporate news —
AP: Healthcare Tech Giant Philips Scraps 4,000 Staff Worldwide
Dutch healthcare technology giant Philips is scrapping 4,000 staff worldwide amid the fallout from a recall of sleep apnea machines and economic headwinds, the company announced Monday as it unveiled a 1.3 billion euro ($1.28 billion) third-quarter net loss. The job cuts amount to about 5% of the company’s global workforce and are expected to save it 300 million euros annually, Philips said. (10/24)
Modern Healthcare: Cerebral Layoffs: Digital Health Startup Cuts 20% Of Staff: Report
Cerebral, the embattled online mental health startup, is cutting approximately 20% of its staff. A spokesperson for Cerebral confirmed the company made layoffs to increase operational efficiencies, but declined to confirm the number of jobs cut. The Wall Street Journal, which first reported the layoffs, said Cerebral is cutting 20% of staff across the board. (Perna, 10/24)
Modern Healthcare: Nonprofit Hospitals Turning To Donors As Recession Looms
The Presbyterian Healthcare Foundation plans to double its annual fundraising target from $8 million to $16 million in the next five years. Gift officers at the foundation, which is part of the nine-hospital integrated system based in Albuquerque, New Mexico, will look to large donors to help boost the organization’s staffing pipeline, said Rick Scott, president of the foundation. Expanding Presbyterian’s recruitment and retention efforts is critically important given recent staffing upheaval, he said. (Kacik, 10/24)
On the high cost of health care —
KHN: Hospitals Said They Lost Money On Medicare Patients. Some Made Millions, A State Report Finds.
Atrium Health, the largest hospital system in North Carolina, has declared publicly that in 2019 it provided $640 million in services to Medicare patients that were never paid for, by far the largest “community benefit” it provided that year. Like other nonprofit hospitals around the nation, Atrium logs losses on the federal health insurance program for seniors and people with disabilities as a community benefit to satisfy legal requirements for federal, state, and local tax breaks. (Clasen-Kelly, 10/25)
KHN: A Billing Expert Saved Big After Finding An Incorrect Charge In Her Husband’s ER Bill
If Dr. Bhavin Shah was on his own, he said, he probably would have paid the bill for his broken arm. The 47-year-old physician from suburban Chicago incurred surprisingly steep charges after landing in an emergency room on New Year’s Day 2021. He’d hit an icy patch while skiing with his kids in Wisconsin. The $10,563.49 in initial ER charges from a Froedtert South hospital in Pleasant Prairie, Wisconsin, seemed high considering he basically got only an exam, X-rays, pain relief, and an arm splint. His insurer negotiated the cost down to $7,922.62 — but, with Shah owing $250 for his deductible and 40% of the remaining charges, his bill of $3,319.05 still felt like too much. However, he thought, who was he to question the hospital’s billing department? (Sable-Smith, 10/25)
