CVS replaces CEO Karen Lynch with Caremark head
The financially struggling healthcare and pharmacy giant also pulled its earnings guidance, citing increased medical cost pressures in its health benefits unit.
New legislation aims to tame ‘Wild West’ in healthcare cybersecurity
The bill, announced last month by Sens. Ron Wyden and Mark Warner, is a good step forward, but hospitals may need more funds to boost their cybersecurity practices, experts say.
Elevance lowers guidance on ‘unprecedented’ Medicaid challenges
Executives said the increased costs pressuring its Medicaid business would improve after states updated payment rates to better match member acuity.
UHS and HCA could see financial boost from growth in state-directed payments for Medicaid services
Higher state-directed Medicaid payments in four states could boost HCA and UHS’ profitability in the near term, according to analysts.
Health tech investment shows signs of recovery in 2024: SVB
Funding in the first eight months of the year has already exceeded pre-pandemic levels, according to Silicon Valley Bank. But high valuations recorded in 2021 are still affecting the market.
Amwell taps ex-Teladoc exec as CFO
Mark Hirschhorn will join the telehealth vendor from TapestryHealth after Robert Shepardson announced his resignation.
Blue Cross Blue Shield to pay $2.8 billion to settle class action provider antitrust case
It’s the largest antitrust settlement to date in the healthcare industry, according to law firm Whatley Kallas, which represented the plaintiffs.
UnitedHealth lowers adjusted profit outlook as cyberattack costs rise
The insurer has recorded $2.5 billion in total impacts from the attack through the nine months ended Sept. 30, according to UnitedHealth’s third quarter earnings.
Walgreens to close 1,200 stores
The closures reverse Walgreens’ expansion ambitions from a few years ago, when the company attempted to merge with rival Rite Aid.
Fresenius Medical Care increasing IV, dialysis solutions production to alleviate shortages
B. Braun and Fresenius Medical Care said they will make more crucial products as the U.S. faces shortages following Hurricane Helene’s damage to a Baxter manufacturing facility.