Revenue Cycle and Payer News 2-13-2019
In the News:
Clash of Giants: UnitedHealth Takes On Amazon, Berkshire Hathaway and JPMorgan Chase
According to the New York Times, inside a federal courtroom in Boston this week, a bit of intrigue has emerged as lawyers try to pry open the secretive plans of a new venture created by three of the world’s most powerful corporations. The underlying case involves allegations made by UnitedHealth Group, which is asking a judge to stop a former executive from working at the new health care outfit created by Amazon, Berkshire Hathaway and JPMorgan Chase. UnitedHealth has accused the executive, David William Smith, of removing confidential, proprietary information that could benefit his new employer, and he has denied any inappropriate action.
Cigna Transition to Value-Based Health Care Results in $600 Million in Medical Cost Savings
Global health service company Cigna (@cigna) has exceeded its value-based care goal of having 50 percent of U.S. Medicare and commercial health care provider payments through alternative payment arrangements in the company’s top 40 markets by year-end 2018. Cigna established the goal in 2015 to accelerate the transition to alternative payment models that link health care provider payments to both quality and affordability.
FORTUNE 2019 Survey Ranks UnitedHealth Group “World’s Most Admired Company” in Insurance and Managed Care
UnitedHealth Group (@UnitedHealthGrp) was the top-ranking company in the Healthcare: Insurance and Managed Care sector for FORTUNE’s 2019 “World’s Most Admired Companies” list, featured in the magazine’s February issue, and included among the Top Fifty Most Admired Companies overall. UnitedHealth Group has been honored as No. 1 overall in its sector for nine consecutive years.
Blue Cross Blue Shield Companies® Make $2 Million in Donations to Federal Employee Education and Assistance Fund
The Blue Cross and Blue Shield Federal Employee Program® (FEP®) announced a $1 million contribution to the Federal Employee Education and Assistance Fund (FEEA), to aid those federal employees and their families who are hardest hit by the government shutdown with cash grants and no-interest loans. The donation was made on behalf of the Blue Cross Blue Shield Association (@BCBSAssociation) and the 36 independent Blue Cross and Blue Shield (BCBS) companies nationwide. To complement these efforts, CareFirst BlueCross BlueShield – the BCBS company serving Washington, DC, Maryland and Northern Virginia — is making an additional $1 million contribution to FEEA as well as $500,000 in donations to food banks and human service organizations in the area.
Oscar Welcomes Angela Calman
Oscar (@oscarhealth), a consumer-focused, technology-driven health care company, recently announced the appointment of Angela Calman as its new Vice President, Communications. Angela brings more than twenty years of health care expertise to Oscar, and has established herself as a leading communications professional with both in-house and advisory experience.
Humana Announces Management Team Appointments
Humana Inc., a health and well-being companies, announced two key strategic leadership appointments in anticipation of upcoming transitions. The company promoted Joseph Ventura to General Counsel and named Douglas Stoss interim lead for Humana’s Office of Corporate Affairs. Both will report to Humana President and CEO Bruce Broussard and serve as members of the company’s Management Team.
Medica Names Robert Geyer to New Position of Chief Operations Officer
Medica (@Medica4Me) announced that Rob Geyer has joined the organization as chief operations officer, a new position. His first day was January 14, 2019. In his role at Medica, Geyer will be responsible for ensuring that Medica has the people, process and system infrastructure in place for operations and IT to support the organization’s growth in both products and geography.
Podcast: KHN’s ‘What The Health?’ ‘Medicare-For-All’? More? Some?
Democrats have officially launched their debate over “Medicare-for-all,” with lots of ideas on how to expand health insurance coverage (and lower costs) for Americans. Chances of any bill becoming law in the next two years are extremely slim, with Republicans still in control of the Senate and White House. But the debate is important in the run-up to the 2020 presidential primaries for Democrats. On a recent episode of KHN’s “What the Health?” panelists Julie Rovner of Kaiser Health News, Stephanie Armour of The Wall Street Journal, Paige Winfield Cunningham of The Washington Post and Alice Ollstein of Politico discuss the issue and more.
— HealthcareNOWradio (@HCNowRadio) February 5, 2019
Molina Healthcare Announces Agreement with Infosys to Improve Information Technology Infrastructure While Delivering Long-Term Cost Savings
Molina Healthcare, Inc. (@molinahealth) announced that it has advanced its information technology (IT) capabilities and operational efficiency by signing an agreement with Infosys, a global leader in next-generation digital services and consulting. Under the agreement, Infosys will manage Molina’s IT infrastructure functions, including IT operations, end-user services, and data centers. With this agreement, Molina expects to improve the reliability of its IT functions to better serve Molina’s members, providers, and state customers while also realizing cost savings beginning in 2019.
Aledade and Humana Announce Agreement Expanding Value-Based Care for Humana Medicare Advantage Members in Three States
Aledade, Inc. and health and well-being company Humana Inc. (@humana) announced a value-based care agreement to broaden the availability of coordinated, quality care for Humana Medicare Advantage members in three states.
Molina Healthcare Announces Fourth Quarter and Year-End 2018 Results and Provides Fiscal Year 2019 Guidance
Molina Healthcare, Inc. recently reported its financial results for the fourth quarter and year ended December 31, 2018, and provided its guidance for fiscal year 2019.
Anthem Reports Fourth Quarter and Full Year 2018 Results Reflecting Strong Core Performance
Anthem, Inc. (@AnthemInc) reported fourth quarter and full year 2018 financial results that reflected enhanced performance across the core businesses and increasing operating momentum.
Humana Reports Fourth Quarter 2018 Financial Results; Provides Full Year 2019 Financial Guidance
Humana Inc. reported consolidated pretax income and diluted earnings per common share (EPS) for the quarter ended December 31, 2018 (4Q18) versus the quarter ended December 31, 2017 (4Q17) and for the year ended December 31, 2018 (FY 2018) versus the year ended December 31, 2017.
Cigna Delivers Strong 2018 Results as it Completes Express Scripts Transaction; Company Positioned for Significant Growth
Global health service company Cigna Corporation reported strong 2018 results with growth across each of the Company’s diversified growth platforms.
AHIP’s National Health Policy Conference – States need innovative ways to serve the growing number of Medicaid enrollees. Health insurance providers are an important part of the solution. But new policies are needed at the federal and state level to unlock more innovation. How can you prepare for the future? During AHIP’s National Health Policy Conference, experts will share their perspectives on what’s next in Medicaid, and what it means for patients, lawmakers, regulators, health systems, and health insurance providers. Early registration ends February 7.
AHIP Institute & Expo 2019 – New concepts, new solutions, new contacts. It’s a few days out of the office, but so much more. Institute & Expo is an investment in your company, your career, and our country’s health care. It’s not surprising that thousands consider AHIP’s Institute & Expo the must attend health care event. Register now to take advantage of early bird discount. Super Saver ends March 18, 2019 and Early Registration ends May 3, 2019.