Startup Insurers’ Future Cast In Doubt Through A Poor 2022
Modern Healthcare reports on insurtech companies' "failure to thrive" at a time when most health insurers are making record money. Separately, a report notes risks to patient data from cyberattacks. The Amazon-One Medical deal, LCMC Health, HCA Healthcare and more are also in the news.
Modern Healthcare:
A Tough Year For Insurtechs Raises Questions About The Future
Startup health insurers spent 2022 scaling back their businesses as investors are no longer willing to contribute the billions of dollars necessary for subsidizing them. Insurtechs Oscar Health, Clover Health and Bright Health Group’s failure to thrive at a time when most health insurers are making more money than ever has left some wondering what their future holds. (Tepper, 1/4)
Modern Healthcare:
Healthcare Vendor Cyberattacks Put Patient Data At Risk
Cybercriminals seeking to seize sensitive health information are increasingly targeting vulnerable vendors to get around the safeguards healthcare providers, insurers and other entities have erected to protect patient data. (Berryman, 1/3)
In health industry news from across the states —
Modern Healthcare:
Amazon-One Medical Deal Clears Regulatory Barrier In Oregon
The Oregon Health Authority cleared the Amazon-One Medical transaction Dec. 28. The regulator concluded the acquisition would be unlikely to affect access and cost for Oregonians and ruled out a more comprehensive review because One Medical operates only five primary care clinics and treats few patients in the Beaver State. (Perna, 1/3)
Modern Healthcare:
LCMC Health Buys 3 HCA Healthcare Hospitals In Louisiana
LCMC Health has acquired three HCA Healthcare-owned hospitals in southeast Louisiana for $150 million, following approval by state regulators, the nonprofit system announced Tuesday. (Hudson, 1/3)
The Colorado Sun:
After Years Of Profits, Some Colorado Hospitals Face A Downturn
After years of churning out profits, many Colorado hospitals are now facing a downturn, according to recently filed financial disclosures. UCHealth, for instance, reported a $157.5 million loss in the quarter ending Sept. 30, 2022. The loss was driven largely by investment losses — reported at more than $200 million. But the sagging stock market was not the only economic stressor for the hospital system. (Ingold, 1/3)
Las Vegas Review-Journal:
New HCA Healthcare Executive Strives To Bring ‘World-Class Care Close To Home’
Jackie DeSouza-Van Blaricum began on Tuesday as president of HCA Healthcare Far West Division, with oversight of eight hospitals and multiple health care facilities throughout Las Vegas and California. Headquartered in the Las Vegas Valley, the division encompasses the Sunrise Health System, including Sunrise, Sunrise Children’s, Southern Hills and MountainView hospitals. (Hynes, 1/3)
Indianapolis Star:
Indiana Proposal To Restructure Public Health Faces Uphill Battle
By 2019 life expectancy in Indiana was 77 years, almost two years below the national average. So Gov. Eric Holcomb convened a special commission in 2021 to look at steps Indiana could take to improve health overall. The answer, when the commission delivered its final report in August: Restructure the state’s public health system, a proposal that came with a suggested price tag of about $242 million a year. (Rudavsky, 1/4)
Also —
KHN:
Public Health Agencies Try To Restore Trust As They Fight Misinformation
By the summer of 2021, Phil Maytubby, deputy CEO of the health department here, was concerned to see the numbers of people getting vaccinated against covid-19 slipping after an initially robust response. With doubt, fear, and misinformation running rampant nationwide — both online and offline — he knew the agency needed to rethink its messaging strategy. (Sausser, 1/4)
