FTC Votes To Ban Most Non-Competes
The Federal Trade Commission (FTC) bans most non-competes. The final rule would ban such agreements for anyone that is not both a senior executive (in a “policy-making position”) and earning more than $151,164 annually. These positions represent less than 0.75% of the workforce. The FTC does not have cognizance over non-profits.
The rule is expected to be challenged in court, but seems to be a reasonable proposal. Non-competes are used extensively in healthcare, even for doctors who do not meet the policy-making provision. This impacts up to 40% of doctors.
A non-compete would remain for senior positions, which does not seem unreasonable. Surprisingly, provider lobbies are against a ban, largely because they are now influenced by private equity owners, who seek to freeze out doctors from taking other jobs. Many entities promise to sue.
Additional articles: https://www.fiercehealthcare.com/regulatory/ftc-votes-3-2-issue-final-rule-banning-noncompetes and https://www.modernhealthcare.com/providers/ftc-noncompete-ban-agreement-lina-khan and https://www.healthcaredive.com/news/ftc-noncompete-ban-healthcare-doctor-effects/713846/
(Some articles may require a subscription.)
#ftc #noncompetes #healthcare
https://thehill.com/business/4615452-ftc-votes-to-ban-non-compete-agreements/
Leaked Data May Be Off Market
The criminal group RansomHub may have delisted its proposed sale of Change Healthcare breach data on the dark web. This could be out of fear that federal law enforcement could be on their tail.
#changehealthcare #cyberattacks
https://www.fiercehealthcare.com/payers/optums-change-healthcare-responding-cybersecurity-issue
FTC Says Cyber Readiness Will Be Weighed in Acquisitions
The Federal Trade Commission said cyber readiness will be weighed in any acquisitions the FTC review. This is a wise move given the sweeping impact across healthcare of the Change Healthcare cyberattack.
(Article may require a subscription.)
#changehealthcare #cyberattacks #ftc
https://www.modernhealthcare.com/policy/lina-khan-ftc-cybersecurity-change-healthcare-outage
New Study Says Cross-Market Hospital Mergers Raise Costs
In an area that has not been a top priority for the Federal Trade Commission and other regulators, a new study says that cross-market mergers do indeed tend to raise prices – although quality does not seem to suffer as with local acquisitions. The study will prompt regulators to look more closely.
#manda #merger #acquisitions #hospitals #ftc
Rumor On The Street: Cigna Acquisition Of Humana Could Come Back
Investment banker Jeffries says the stars could align again on a Cigna acquisition of Humana. Cigna CEO David Cordani just sold his ailing Medicare Advantage (MA) business to HCSC. This was likely an issue with the plan itself as Cordani later declared he likes the Medicare world for his growing Evernorth services business. Now, with stock in Humana low due to some missteps and higher medical expense, Cigna might relook at an acquisition of MA-predominant Humana.
(Article may require a subscription.)
#cigna #humana #manda #mergers #acquisitions
https://www.modernhealthcare.com/mergers-acquisitions/cigna-humana-deal-jeffries
Medicaid Disenrollments Impacting Providers
The major Medicaid disenrollments impact not only patients who are now uninsured, but also providers. With the major loss of insured individuals, many provider struggle to keep afloat. And many are still grappling with the effects of the Change cyberattack. As many as 20 million have lost coverage at one point or another due to the return of Medicaid redeterminations. Overall rolls are down by at least 10 million.
#medicaid #redeterminations #coverage #providers
https://www.modernhealthcare.com/medicaid/medicaid-unwinding-hospitals-colorado-south-dakota-texas
— Marc S. Ryan
