April 16, 2024

Affiliate Of BlackCat Reportedly Published PHI From Change Cyberattack

While the main operator of BlackCat ransomware appears to have kept a rumored $22 million ransom paid by United HealthGroup, an affiliate published data from the Change Healthcare cyberattack after United did not pay an additional ransom.  The affiliate controlled the captured PHI and data.

#changehealthcare #cyberattacks


United Reports Stabilization of MA And Costs Of Cyberattack

United HealthGroup reported two critical factors on Tuesday.  First, Medicare Advantage (MA) costs have stabilized in Q1 2024.  Second, the Change Healthcare cyberattack will cost up to $1.6 billion.  The costs will likely far exceed this estimate.

Additional articles: https://www.modernhealthcare.com/insurance/change-healthcare-update-cyberattack-cost-unitedhealth and https://www.healthcaredive.com/news/change-cyberattack-unitedhealth-cost-q1-earnings/713288/ and https://www.beckerspayer.com/payer/medicare-advantage-costs-begin-to-stabilize-unitedhealth-says.html

(Some articles may require a subscription.)

#unitedhealthcare #changehealthcare #cyberattacks #medicareadvantage


Lawmakers Receptive To Provider Recommendations On Cyber Security

With United HealthGroup declining an invitation to attend a congressional hearing, lawmakers largely were empathetic to providers’ views on the cyber attack. Proposed bills, however, would take a much more punitive approach.  I am not often sympathetic to provider causes, but in this case it is up to Congress and regulators to fashion a plan and money to protect all healthcare systems.  This is a national issue and it is that important.    

There was a bipartisan consensus that consolidation has gone too far.

Additional article: https://www.modernhealthcare.com/politics-policy/unitedhealth-group-change-healthcare-hearing-congress

(Some articles may require a subscription.)

#changehealthcare #providers #cyberattacks


CVS Partners With SC Providers To Create Medicare ACO

CVS Health is partnering with SC providers to create a SC Medicare Accountable Care Organization (ACO).  Oftentimes, health plans provide the back office in these ACO organizations.

#acos #cvshealth #medicare


Bleeding Continues At Walgreens

Walgreens Boots Alliance is laying off more corporate workers to realign its finances.

(Article may require a subscription.)



CVS Health To Open Oak Street Clinics At Retail Pharmacy Locations

CVS Health will open Oak Street Health primary care clinics at CVS retail pharmacy stores. CVS bought Oak Street for $10.6 billion. Some question the decision given the epic failure of Walgreens’ investment in VillageMD.  But I think CVS will be successful.

(Article may require a subscription.)

#cvshealth #primarycare


Federal Court Sides Against Eli Lilly On Case Against Compounding Pharmacy

Showing the greediness of brand drugmakers, Eli Lilly has sued a compounding pharmacy for compounding Lilly’s GLP-1 drug Mounjaro. The court said Lilly and Novo Nordisk are using frivolous lawsuits to discourage compounding. The compounding in this case is allowed due to shortages. In brand drugmakers’ minds, it is better for people to go without to protect their profits.

(Article may require a subscription.)

#drugshortages #drugpricing #branddrugmakers


Rebate Deals Between PBMs and Brand Drug Makers Continue To Hold Back Biosimilars

A new survey finds that deals between pharmacy benefits managers (PBMs) and brand drug makers continue to be a leading cause of the lack of uptake of biosimilars.  This along with better education of physicians has to be tackled.

#biosimilars #drugpricing #branddrugmakers #pbms


— Marc S. Ryan

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