About Covid-19
Long COVID: What Do the Latest Data Show? “The percentage of people who have had COVID and currently report long COVID symptoms declined from 19% in June 2022 to 11% in January 2023.”
Read the KFF report for more information.
About health insurance/insurers
FTC unlikely to challenge UnitedHealth-LHC Group deal: report “The Federal Trade Commission is not expected to challenge UnitedHealth Group's acquisition of home health firm LHC Group, Seeking Alpha reported Jan. 31, citing a CTFN report.
The news comes after Capitol Forum reported Jan. 26 that the FTC was reviewing the planned acquisition under a ‘potential vertical harm theory.’ CTFN said in its report that legal arguments about vertical theories of harm are unlikely to effectively halt the deal.
Humana Reports Fourth Quarter 2022 Financial Results; Provides Full Year 2023 Financial Guidance —“Reports 4Q22 loss per share of $0.12 on a GAAP basis, Adjusted EPS of $1.62; reports full year (FY) 2022 EPS of $22.08 on a GAAP basis, $25.24 on an Adjusted basis
—Announces FY 2023 EPS guidance of at least $27.57 on a GAAP basis; at least $28.00 on an Adjusted basis
—Affirms strong 2023 individual Medicare Advantage membership growth of at least 625,000, or 13.7 percent growth over FY 2022 ending membership; anticipates growth to be meaningfully higher than the industry growth…”
CVS Health goes live with virtual care service with a focus on primary care, mental health “As part of its new virtual primary care service, CVS Health is expanding telehealth-based mental health care to include appointments with licensed therapists and psychiatrists.
The retail drugstore giant announced its virtual care offering last May to give consumers access to primary care, on-demand care, chronic condition management and mental health services.”
Two large cases of health fraud prosecuted by the DOJ (both involve DME):
Three Men Indicted in San Antonio on Charges Related to $14.5 Million Healthcare Fraud Scheme “According to court documents, Kuba Zarobkiewicz, 35, of San Antonio, and Anthony Fermin, 32, of Boca Raton, Florida, own various medical equipment companies and pharmacies involved in a scheme to defraud Medicare by paying kickbacks to telemarketing firms owned and operated by Farrukh Mirza, 39, of Richmond, Texas, in exchange for signed doctor’s orders issued for unnecessary hip, knee and back braces.”
Two Florida Doctors Convicted in $31 Million Medicare Fraud Scheme "According to court documents and evidence presented at trial, Dean Zusmer, 54, of Miami, was a chiropractor who conspired with others to steal millions of dollars from Medicare. Zusmer owned one of four DME companies that collectively billed Medicare over $31 million for medically unnecessary DME, of which over $15 million was paid. Zusmer and his co-conspirators, including Jeremy Waxman, acquired patient referrals and signed doctors’ orders by paying kickbacks to marketers who used overseas call centers to solicit patients and telemedicine companies to procure prescriptions for unnecessary braces for these patients.”
About hospitals and healthcare systems
Association of Hospital Quality and Neighborhood Deprivation With Mortality After Inpatient Surgery Among Medicare Beneficiaries “Findings In this cross-sectional review of 1 898 829 Medicare beneficiaries undergoing 1 of 5 common surgical procedures, patients from the least deprived neighborhoods going to high-quality hospitals had a 3.9% probability of postoperative mortality compared with 8.1% among patients from the most deprived neighborhoods going to low-quality hospitals, a significant difference.
Meaning These findings suggest that the scope of hospital-driven efforts and investments to minimize disparities in postoperative mortality should include attention to factors associated with socioeconomic deprivation in the communities where patients live.”
About pharma
Moderna's RSV Vaccine Snags FDA Breakthrough Therapy Nod “The FDA granted Moderna's RSV vaccine candidate Breakthrough Therapy Designation … based on the pivotal Phase III ConquerRSV trial, in which the mRNA-based vaccine, mRNA-1345, demonstrated 83.7% efficacy against RSV lower respiratory tract disease in older adults.”
GoodRx pays $1.5 million to settle health privacy allegations “U.S. healthcare firm GoodRx Holdings has agreed to pay $1.5 million to settle allegations that it failed to notify customers that it shared personal health information with Alphabet's Google, Meta's Facebook and others, the Federal Trade Commission said on Wednesday.
Under the terms of the settlement, GoodRx will be barred from sharing user health data with other companies to use for advertising.”
Nearly 1K drug prices rose in January “So far in 2023, pharmaceutical companies have raised prices on 988 brand-name drugs for an average 5 percent wholesale acquisition cost increase, according to 46brooklyn Research, a nonprofit that tracks drug pricing data.
This is the highest number of January drug price increases since 2011, its dashboard shows. More than 600 of them don't have generic alternatives.”
3 companies report 4thQ sales and projections:
Amgen's Q4 profit slides, as sales tick above estimate
Novartis posts drop in Q4 sales, profit ahead of Sandoz spin-off
Shrinking demand for COVID products expected to cut Pfizer sales by 30% this year
About the public’s health
FDA creates food safety, nutrition program in wake of baby formula crisis “The Food and Drug Administration will create a senior position to oversee food safety and nutrition after recent foodborne-illness crises, including a baby formula shortage, exposed major flaws in the agency’s structure and culture.”
About healthcare finance
KKR veteran sets records with $3.9 billion health care fund “The former head of health care investing at private equity giant KKR has set records with the first fundraising for his new firm.
The firm, Patient Square Capital, closed on $3.9 billion for its fund Wednesday. That makes it the largest inaugural fund for a new U.S.-based private equity firm. The previous record was set by Centerbridge Partners’ $3.2 billion fundraising in 2006, according to data from PitchBook."