From The Associated Press

HHS: Federal Stocks of Protective Equipment Nearly Depleted

April 9, 2020

The Strategic National Stockpile is nearly out of the N95 respirators, surgical masks, face shields, gowns and other medical supplies desperately needed to protect front-line medical workers treating coronavirus patients.

The Department of Health and Human Services told The Associated Press Wednesday that the federal stockpile was in the process of deploying all remaining personal protective equipment in its inventory.

The Strategic National Stockpile is nearly out of the N95 respirators, surgical masks, face shields, gowns and other medical supplies desperately needed to protect front-line medical workers treating coronavirus patients.

The Department of Health and Human Services told The Associated Press Wednesday that the federal stockpile was in the process of deploying all remaining personal protective equipment in its inventory.

The HHS statement confirms federal documents released Wednesday by the House Oversight and Reform Committee showing that about 90% of the personal protective equipment in the stockpile has been distributed to state and local governments….

Read the full The Associated Press article

CVS Health Swings to 4Q Profit, Lays Out Leadership Changes

February 12, 2020

CVS Health swung to a fourth-quarter profit and is starting the new year with a management shakeup for its largest business.

CVS Health swung to a fourth-quarter profit and is starting the new year with a management shakeup for its largest business.

The company will replace Derica Rice with Dr. Alan Lotvin as the leader of its pharmacy benefit management segment.

CVS Health also named former Concerto Healthcare executive Alec Cunningham to lead its Aetna insurance business as it focuses more on government programs like Medicare Advantage.

CEO Larry Merlo told analysts the changes give CVS Health experienced leaders as it evolves.

Read the full article from The Associated Press

Governors Warn Trump Rule Could Lead to Big Medicaid Cuts

February 6, 2020

Governors of both major political parties are warning that a little-noticed regulation proposed by President Donald Trump’s administration could lead to big cuts in Medicaid, reducing access to health care for low-income Americans.

Governors of both major political parties are warning that a little-noticed regulation proposed by President Donald Trump’s administration could lead to big cuts in Medicaid, reducing access to health care for low-income Americans.

The arcane fiscal accountability rule proposed by the Centers for Medicare and Medicaid Services, or CMS, would tighten federal oversight and approval over complex financing strategies states have long used to help pay for their share of the $600 billion program. Also targeted are certain payments to hospitals that treat many low-income patients. Public comments closed last week amid a chorus of criticism from hospitals, nursing homes, insurers, doctors, and advocates for the poor.

Against the backdrop of an election year, governors are warning the administration of potentially dire consequences.

“States may be unable to adequately fund their Medicaid programs, which could lead to unintended consequences that would negatively impact Medicaid beneficiaries across the country,” wrote Govs. Kate Brown, D-Ore., and Charlie Baker, R-Mass., in official comments on behalf of National Governors Association.

Read the full article from The Associated Press

Insurer Anthem Underwhelms Wall Street With 2020 Forecast

January 29, 2020

Anthem is starting the new year by forecasting earnings that could miss expectations even after the health insurer books gains from a new business.

Anthem is starting the new year by forecasting earnings that could miss expectations even after the health insurer books gains from a new business.

The Blue Cross-Blue Shield insurer also reported on Wednesday earnings from the final quarter of 2019 that missed forecasts, and its stock dropped in midday trading.

Anthem predicted that earnings adjusted for one-time items will be greater than $22.30 per share in 2020. That includes income from IngenioRx, a pharmacy benefits management business it launched ahead of schedule last year.

Read the full article from The Associated Press

CVS Gets a 3Q Booster Shot From Aetna as Revenue Soars

November 6, 2019

CVS Health revenue surged in the third quarter as the drugstore chain and pharmacy benefits manager added health insurance and pushed ahead with a plan to change how many of its stores operate.

The company said Wednesday its roughly $69 billion acquisition of the insurer Aetna helped its top line climb 36% in the quarter while earnings rose 10%.

Overall, CVS Health booked $1.53 billion in net income on $64.81 billion in revenue. Adjusted earnings totaled $1.84 per share.

CVS Health revenue surged in the third quarter as the drugstore chain and pharmacy benefits manager added health insurance and pushed ahead with a plan to change how many of its stores operate.

The company said Wednesday its roughly $69 billion acquisition of the insurer Aetna helped its top line climb 36% in the quarter while earnings rose 10%.

Overall, CVS Health booked $1.53 billion in net income on $64.81 billion in revenue. Adjusted earnings totaled $1.84 per share.

Those results easily topped Wall Street’s expectations for earnings of $1.77 per share on $63.03 billion in revenue, according to Zacks Investment Research….

Read the full The Associated Press article