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2023 Bankruptcies Highest In Five Years As was reported earlier, another report also shows that bankruptcies were very high in the healthcare arena in 2023.  Hospitals, pharmaceutical and senior care companies were on the list. Additional articles here: https://www.modernhealthcare.com/finance/healthcare-bankruptcies-2023-gibbins-advisors and https://www.healthcaredive.com/news/healthcare-bankruptcies-spike-2023-gibbins-advisors/705738/ (Some articles may require a subscription.) #hospitals #healthcare #bankruptcies Link to Article Biden Administration Strikes Again On Mergers The Federal Trade Commission opposes another prominent merger – Novant Health’s purchase of two Community Health Systems hospitals. Additional article here: https://www.healthcaredive.com/news/federal-trade-commission-sues-block-novant-health-community-health-systems-hospital-acquisition/705648/ #mergers #acquisitions #ftc #antitrust Link to Article Drug Maker CEOs To Appear On Capitol Hill A day after some very bad press, Johnson & Johnson CEO Joaquin Duato, Merck CEO Robert Davis and Bristol Myers Squibb CEO Chris Boerner all said they would appear at  hearing on drug pricing.  Additional article here: https://www.statnews.com/2024/01/26/merck-johnson-johnson-ceos-drug-prices/ (Some articles may require a subscription.) #drugpricing #branddrugmakers Link to Article Medicaid Enrollment Losses Under Redeterminations

Humana Reconfirms Bad News On Utilization In MA After an earlier filing, Humana reconfirmed bad news on the medical expense front. Because it is a predominant Medicare Advantage (MA) insurer, it has seen a major and unexpected rise in utilization, which impacted the company’s 2023 numbers and prospects for 2024 and beyond.  Broussard is one of the smartest healthcare leaders out there and he is someone I listen to closely. Given the medical expense rise, rate compression, and regulatory changes (such as the new prior authorization rule), Broussard said he expects similar pricing adjustments from other payers, as the spike in utilization along with ongoing regulatory changes will have major impacts in 2025 and potentially beyond. Broussard says this could very well be industrywide. Humana reduced benefits for 2024 and this could be a continued trend into the future. Humana plans on cutting about $700 million in administrative costs. It