Revenue Cycle and Payer News 11-8-2017
In the News…
Latest on CVS/Aetna Deal
Becker’s is reporting CVS Health (@CVSHealth) and Aetna (@Aetna) aim to finalize their proposed merger as soon as December, sources familiar with the deal told Reuters. The deal, to be valued at more than $70 billion, would link up one of the country’s largest pharmacy benefits managers with one of its oldest health insurers. The merger, if successful, would boost the companies’ price negotiations with pharmaceutical manufacturers. Meanwhile, Fobes is reporting CVS Health profits dipped in the third quarter as the pharmacy chain continues to deal with the narrowing of insurer networks that exclude its pharmacies and its stores in the southeastern U.S. recover from recent hurricanes.
U.S. House approves funding for children’s healthcare program
Reuters is reporting that the U.S. House of Representatives on Friday approved legislation to continue a federal insurance program for millions of lower-income children and pregnant women, but with an ongoing funding battle it could be weeks before the program gets more money.
Anthem, Inc. Announces Key Management Changes
Anthem, Inc. (@AnthemInc) announced that Gail K. Boudreaux has been named Chief Executive Officer and President and appointed to the Company’s Board of Directors, effective November 20, 2017. Joseph R. Swedish, Chairman, President and Chief Executive Officer, Anthem, will serve as Executive Chairman, Anthem Board of Directors, stepping down in May 2018, and serve as Senior Advisor through May 2020. In addition, Anthem earned a place on The Diversity Best Practices Inclusion Index:
— Div. Best Practices (@DBP_News) November 1, 2017
Humana Introduces Pharmacy Calculator to Assist People with Medicare During Annual Medicare Enrollment
People with Medicare looking to ensure the medication they take is covered by their Medicare Advantage or Part D plan now have an easy-to-use tool thanks to Humana’s Rx Calculator (@Humana) . The tool is available in time for the 2018 Medicare Advantage and Prescription Drug Plan Annual Election Period, or AEP, which runs through Dec. 7, 2017.
Aetna Reports Third-Quarter 2017 Results
Aetna announced third-quarter 2017 net income(1) of $838 million, or $2.52 per share. Adjusted earnings(2) for third-quarter 2017 were $814 million, or $2.45 per share. Aetna’s strong third-quarter performance resulted in net income of $1.7 billion and adjusted earnings of $2.9 billion for the nine months ended September 30, 2017.
Cigna Reports Strong Third Quarter 2017 Results, Raises Outlook
Cigna Corporation (@Cigna) reported third quarter 2017 results with strong performance across the company’s Global Health Care, Global Supplemental Benefits and Group Disability & Life segments. Total revenues in the quarter were $10.4 billion, an increase of 5% over third quarter 2016, driven by continued growth in Cigna’s targeted customer segments.
Obamacare 2018 enrollment opens Wed. with little federal mention, lower rates for some
USA Today reports that insurers, some states and former Obama administration officials are heavily promoting the Affordable Care Act open enrollment that starts Wednesday to make up for the lack of marketing the law is getting by President Trump’s administration. There is actually some good news to promote, says Andy Slavitt, who headed the Centers for Medicare and Medicaid Services under Obama. Buried in a recent Department of Health and Human Services report: For 2018, 80% of people can find a plan for under $75 each month, thanks to financial assistance. That’s up from 71% last year.
— Kaiser Family Found (@KaiserFamFound) November 5, 2017
Upcoming AHIP Conferences:
The Consumer Experience & Digital Health Forum will take place in Nashville, TN in partnership with the Nashville Health Care Council. Experience the nexus of consumer satisfaction and targeted technology. During AHIP’s Consumer Experience & Digital Health Forum, in partnership with the Nashville Health Care Council, discover how smart technology and consumer-focused strategies can advance affordability, value, and customer satisfaction. You’ll take home timely ideas, partnership prospects, and digital tools that can optimize your organization’s collaboration and connectivity.
— AHIP (@AHIPCoverage) September 22, 2017
Where will we be in 2018? What health policy issues will be in the spotlight? On what priorities should your organization focus? AHIP’s National Health Policy Conference will deliver expert insights, top-level dialogue, and innovative solutions as we work together to advance a health care system focused on quality and sustainability.
What will be the key policy and operational issues for those serving the Individual and Small-Group markets? Join us in March as thought leaders from throughout the health care industry share where we are and what’s needed next to succeed in these important markets. You’ll leave with innovative ideas from states, what’s next for small groups, how to best tackle affordability and access, and more. Located immediately following AHIP’s National Health Policy Conference (March 7-8), combine both conferences with one trip.