The sale of Magellan Specialty Health is the latest divestiture in Centene’s plan to sell non-core assets as part of a long-term strategy to improve the company’s profit margin.
The healthcare system said the clinics were losing money as they attracted fewer patients. Labor shortages, inflation and an increasingly competitive retail health industry are also to blame.
The Salt Lake City-based system, which merged earlier this year with Colorado-based SCL Health, said labor expenses are up 45% from a year ago.
House Ways and Means Committee leaders “are severely disappointed to find that the August 2022 final rule violates the No Surprises Act in the same ways as before,” they wrote in a letter to regulators last week.
Apps holding sensitive health data should be required to delete nonessential information and clearly inform consumers what information they share with parties such as law enforcement, the 10 state attorneys general said.
How is healthcare is changing for providers as we enter 2023, and what can we do to prepare?
Antitrust experts said it’s surprising regulators took this long to file an appeal, while UnitedHealth slammed the move as “entirely without merit.”
Cheryl Pegus is leaving Walmart’s health division to work as a managing director for JPMorgan’s venture attempting to lower employer health costs.
Expenses outpaced revenue growth as the Minnesota-based health system became the latest provider to report a recent drop in operating income.
John Fernandez will assume the role early next year and replace Timothy Babineau, who held the position for more than 10 years.