Happy Tuesday, Hospitalogists! I hope you're having a great start to the week. Apart from earnings season, news is relatively slow - so, let's dive in! |
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The most important news from the week |
Steward Health Care Bankruptcy: Good Riddance |
After struggling to pay vendors and seemingly with the writing on the wall for the better part of 2024, Steward Health Care has long last filed for a chapter 11 restructuring of its 31-hospital portfolio. The now-defunct hospital operator has plans to sell off its hospital assets at breakneck pace, divesting everything by the end of July which seems…pretty quick. Like I wrote about back in February, there has never been a clearer microcosm for things gone wrong in healthcare than what we're seeing unfold here. A health system in financial and operational disarray; potential for patient harm rampant; failing to be a good partner for your clinicians…the list goes on. Clearly this is exhibit 1a in private equity in healthcare gone wrong, but let's not forget a physician was running the show. We've seen plenty of bad actors across healthcare, and no one party or stakeholder is immune. Let's do better, fam. Here's a great article from Healthcare Dive breaking down the latest. |
Earnings Spotlight: Privia Health's Q1 |
"Privia Health (PRVA) reported first-quarter results with sales nicely above expectations, and profitability in line; management also reaffirmed its 2024 outlook (as discussed in greater detail below). Overall, Privia appears to be off to a solid start in 2024, and we believe the organization is largely shielded from many of the adverse trends being experienced by other VBC operators." - William Blair Equity Research |
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Key considerations for decision makers. Notable moves, policies, and strategies |
- Amedisys-UnitedHealth Group is closing in on a sizable divestment package.
- Relatedly, home Health player and recent Encompass spin-off Enhabit completes its strategic review and will remain an independent company.
- Community Health Systems adds another antitrust lawsuit to MultiPlan's collection.
- The Medicare hospital trust fund extends by five years to 2036.
- Akili cuts 46% of staff and explores strategic options.
- Glen Tullman wants to IPO Transcarent - not sell it privately.
- A study finds colon cancer rates have been rising for decades in younger people. Long live the GI doc.
- Mass General Brigham reveals that 10% of its physicians use generative AI.
- Surveys suggest fewer nurses intend to leave healthcare.
- TripleTree notes a robust market in autism services.
- CMS proposes a new mandatory organ transplant model for end-stage renal disease.
- Krista Drobac notes on LinkedIn the House Ways and Means Committee is proposing a 5-year extension of the Hospital at Home program.
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Collaborations and launches to keep a pulse on. |
- Intermountain Health deploys DAX Copilot across the enterprise to empower clinicians and administrators with data-driven insights to transform healthcare delivery, costs, and outcomes.
- Abridge and UChicago Medicine announce a partnership and as the first part of that agreement, will collaborate on research centered around clinician wellness, retention, and outcomes.
- Suki wins an AI Scribe partnership with Premier, Inc.
- Baptist Health and Caregility expand their partnership to bring intelligent telehealth devices to more than 700 beds across the Baptist organization.
- Encompass Health Rehabilitation Hospital of Kissimmee, a 50-bed inpatient rehabilitation hospital, opens in Florida.
- Geisinger Health Plan and OncoHealth provide comprehensive cancer support to members.
- The FDA approves Apple Watch's heart monitoring tool for use in clinical trials.
- A California system builds an inpatient rehab hospital.
- Pearl Health launches an 'enhanced EHR experience' with Vim.
- SteadyMD and Bridge partner to make health insurance acceptance for telehealth consultations effortless.
- agilon health announces new physician partnerships for 2025, expanding its network to include over 3,000 primary care physicians delivering value-based care to more than 700,000 senior patients.
- Flatiron Health partners with the Association of Cancer Care Centers for clinical trial data.
- Talkspace expands online mental health therapy to millions of Medicare members.
- Geisinger and Acadia Healthcare hold a groundbreaking ceremony for a new behavioral health hospital in Danville.
- Anthem Blue Cross and Blue Shield expands access to mental healthcare for children with the addition of InStride Health to its network.
- Harmonia Healthcare opens a new clinic to treat extreme morning sickness in New Jersey.
- WellSky® unveils an advanced analytics solution to drive hospice quality improvement programs and strategic census growth.
- Dandelion Health launches a data library to advance insights into GLP-1 drugs.
- Simplify Healthcare and XO Health announce a strategic partnership to reinvent the employee healthcare experience.
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My favorite reads & resources from the week |
- AAMC | Why market power matters for Patients, Insurers, and Hospitals: "Overall, our data show that the largest health systems have, on average, a combined 43.1% of the market share (as measured by total inpatient hospital discharges) in each state, while the top three large-group insurers hold an average of 82.2% of the market share in each state"
- Drug Channels updates the mapping of vertical integration of insurers, PBMs, specialty pharmacies, and providers.
- McKinsey | Value creation through business model innovation in US healthcare and an interesting graphic below. "While no organization focuses on just one of them, business models that emphasize vertical integration have produced the strongest growth, our research finds." - McKinsey must have been researching the Hospitalogy archive!
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Here are some jobs that I'm curating for the healthcare industry. You can see the full list of jobs I've curated here. If you're looking to hire, use the promo code HOSPITALOGY to get your first job listing free on my curated job board. |
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Thanks for the read! Let me know what you thought by replying back to this email. — Blake |
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