Dive Brief: Centene reported a profit of $568 million for the third quarter, nearly six times more than its net earnings of $95 million in the prior-year period in large part due to the addition of WellCare, which closed in January. Revenue also grew by 53% to $29 billion, beating Wall Street expectations along with
Dive Brief: HCA Healthcare on Monday reported profit of $668 million in the third quarter, up 9% from the same time last year. Results came as the hospital giant returned hundreds of millions in government grants early and it faces COVID-19 surges in key markets. The Nashville-based system notched revenue of $13.3 billion, up about 5%
Dive Brief: Medical device funding hit a new high in the third quarter, growing 63% year on year to top $5 billion for the first time in CB Insights’ dataset. Investments in robotic surgery startups was a major driver of the increase. The analysts listed the progress of neuromodulation devices and Medtronic’s deals in diabetes
Dive Brief: The COVID-19 pandemic and its economic fallout are reshaping how people approach healthcare services, with costs among their top concerns, according to data analytics firm TransUnion Healthcare’s annual patient survey. Almost half of patients — 49% — say the economy shapes how they seek medical care, the survey of more than 3,000 recent
In its third year, the HLTH conference transitioned online as the coronavirus pandemic surges once again in outbreaks across the country, sparking discussion about the future of digital health. Amid other headlines, merging virtual care players Teladoc and Livongo made their first cross-sale; retail pharmacies announced plans to revamp pharmacist workflow; payer, hospital and telehealth execs
The future of alternate payment models, importance of health equity and biggest question marks hanging over the fast-changing telehealth industry were among topics headlining the virtual HLTH conference last week. Along with a flurry digital health funding expansions and new product lines, retail pharmacy giants Walgreens and Rite Aid outlined plans to change the job of
Despite skyrocketing virtual care adoption, the telehealth sector still faces challenges, like mounting deal sizes and IPOs giving rise to concerns about a digital health bubble, and a decidedly hazy regulatory future. But experts at the third annual HLTH conference this week argued that rampant tech integration during COVID-19 isn’t going to be rolled back
Dive Brief: CMS has approved a waiver granting limited Medicaid expansion in Georgia, and is also considering another waiver that would end the state’s participation in the Healthcare.gov insurance exchange. Although the waivers were praised by Georgia Gov. Brian Kemp and CMS Administrator Seema Verma as a way to expand coverage and lower insurance costs, they
Dive Brief: Health IT giant Allscripts has entered into a definitive agreement to sell its CarePort Health patient care coordination business to WellSky, a health software company, for $1.35 billion. The sale price represents a multiple greater than 13 times CarePort’s revenue of about $100 million and 21 times its adjusted earnings before interest, taxes,
Dive Brief: UnitedHealth Group bested Wall Street expectations and reported a lower-than-expected medical cost ratio of 81.9% for the third quarter as members continue to delay care amid the pandemic. Although utilization is not back to normal, it is hovering around 95% of pre-pandemic levels, considerably higher than the second quarter, executives said Wednesday. The
Dive Brief: Teladoc and Livongo have made their first combined sale, Teladoc CEO Jason Gorevic and Livongo founder Glen Tullman said at the HLTH virtual conference on Monday. Guidewell Health, a mutual insurance holding company and parent of the Florida Blue plan, has been a Teladoc customer for several years. It will now offer Livongo’s
Dive Brief: Charlotte, North Carolina-based Atrium Health and nearby academic medical center Wake Forest Baptist Health have completed their merger, according to a Friday announcement. The new system expects $11.5 billion in combined net revenue, an Atrium spokesperson said. The combined entity will employ 70,000 people at 42 hospitals and more than 1,500 care sites.
Dive Brief: The Kaiser Family Foundation Employer Health Benefits Survey found modest premium growth in 2020 for both single and family coverage. Premiums for both categories rose 4% compared to 2019, although much of the data gathered was before the full brunt of the COVID-19 pandemic became clear. Altogether, more than 1,700 firms were surveyed.
Dive Brief: This year has already shattered digital health funding records, with $9.4 billion raised so far through the third quarter, according to a new report from Rock Health. That’s already surpassed the previous record for most dollars raised in a year: $8.2 billion in 2018. The average deal size in 2020 has been $30.2