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☆ UnitedHealth Q1 earnings: Change cyber-attack in focus
▼ + stars: | 2024-04-15 | by ( Bertha Coombs | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnitedHealth Q1 earnings: Change cyber-attack in focusUnitedHealth Group's first quarter earnings will provide the first window in the financial impact of the cyber-attack on its Change Healthcare subsidiary. Bertha Coombs reports the data breach has created disruption across the U.S. health care system.

Persons: Bertha Coombs Organizations: Healthcare

☆ UnitedHealth's first-quarter report will offer a window into Change cyberattack costs
▼ + stars: | 2024-04-15 | by ( Bertha Coombs | ) www.cnbc.com time to read: +2 min

"Everybody looks to United as the bellwether of all of health-care services. This will be different," said Lisa Gill, managing director and health care analyst at JPMorgan. The data breach at the Change Healthcare unit forced the firm to take down its massive billing and payment processing service. While the company has restored services for pharmacies, the outage has continued to disrupt operations for health-care providers across the country. Larger providers, such as home infusion services firm Option Care Health , have also warned that the outage could impact their quarterly results.

Persons: UnitedHealth Group's, Lisa Gill, Scott Fidel, UnitedHealth, they'd, James Allred, he's, Allred Organizations: JPMorgan, Healthcare, Optum, OptumRx, Stephens, American Medical Association, Aesthetics, Care Locations: Nashville

☆ Health insurer stocks slide as final Medicare Advantage rates disappoint
▼ + stars: | 2024-04-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Shares of U.S. health insurers fell Tuesday after the Biden administration didn't boost payments for private Medicare plans as much as the insurance industry and investors had hoped. Shares of CVS Health fell more than 8% on Tuesday, while UnitedHealth Group 's stock slid nearly 7%. Shares of Elevance Health dropped more than 3% and Centene 's stock fell 6%. Meanwhile, Humana 's stock fell more than 10%. The health-care giant is far more dependent on those private Medicare plans, known as Medicare Advantage, than its rivals.

Persons: Biden, Humana Organizations: Humana Inc, CVS Health, Elevance Health Locations: Louisville , Kentucky, U.S

☆ An infamous hacking group is reportedly behind the cyberattack that has left US pharmacies reeling
▼ + stars: | 2024-02-27 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

A high-profile ransomware gang is responsible for the outage that has paralyzed US pharmacies, Reuters reported. Blackcat is behind the attack on UnitedHealth Group's claims management arm last week, per the report. The outage at Chain Healthcare, the payment management arm of healthcare giant UnitedHealth Group, was caused by a ransomware attack by hackers affiliated with Blackcat, Reuters reported, citing two unnamed sources. AdvertisementLast week's attack on Change Healthcare forced its parent company to disconnect its own systems "to prevent further impact," according to UnitedHealth Group. But experts aren't sure if the group responsible for last week's hack was sponsored by foreign actors.

Persons: Blackcat, UnitedHealth, —, Reddit, cybercriminals, Brett Callow Organizations: Reuters, Service, Healthcare, UnitedHealth, Blackcat, Caesars Entertainment, MGM Resorts, UnitedHealth Group, American Pharmacists Association, SEC, Colonial Pipeline, Google, Palo Alto Networks

☆ Outages from cyberattack at UnitedHealth's Change Healthcare extend to seventh day as pharmacies deploy workarounds
▼ + stars: | 2024-02-27 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +7 min

Change Healthcare's systems are down for the seventh day after a cyber threat actor gained access to its network last week. Change Healthcare offers tools for payment and revenue cycle management, and its system outages have disrupted operations in pharmacies and health systems across the country. Change Healthcare merged with Optum in 2022. Rising number of health-care cyberattacksThe attack on Change Healthcare comes after 2023 set a grim record for health-related cybercrime. Impact of Change Healthcare's breachUnitedHealth has not specifically disclosed exactly which Change Healthcare systems have been affected, but the fallout from the cyberattack has caused a ripple of problems across the U.S. health-care system.

Persons: UnitedHealth, John Riggi, Riggi, Cliff Steinhauer, Steinhauer, Cary Brazeman, Brazeman, hadn't Organizations: New York Stock Exchange, UnitedHealth Group, U.S . Securities, Exchange, Change Healthcare, Change, Optum, Healthcare, Palo Alto Networks, Google, CNBC, American Hospital Association, National Cybersecurity Alliance, CVS Health, Walgreens Locations: U.S, Palm Springs

☆ Humana just tapped an Envision exec to be its next CEO as the insurance giant pushes deeper into clinics and home care
▼ + stars: | 2023-10-11 | by ( ) www.businessinsider.com time to read: +6 min

Humana CEO Bruce Broussard will step down next year after more than a decade leading the health-insurance giant. Humana has tapped Jim Rechtin, head of Envision Healthcare, to be its next CEO. Weaving together insurance benefits with care delivery is meant to make healthcare easier for people to navigate and improve patients' health, Broussard said. One example is Humana's recent push into behavioral healthcare, Broussard said. That startup will eventually become part of Humana, Broussard said.

Persons: Bruce Broussard, Jim Rechtin, Broussard, —, Rechtin, " Broussard, Rafael Henrique, Humana Organizations: Healthcare, Humana, Indiana's DePauw University, Harvard, Getty, Aetna, Oak Street Health, Iora, One, General Atlantic Locations: The Louisville , Kentucky, DaVita, Group's California, Kentucky, UnitedHealth

☆ UK regulator clears $1.52 billion UnitedHealth-EMIS deal
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: 1 min

Sept 29 (Reuters) - Britain's competition regulator said on Friday it has cleared UnitedHealth Group's (UNH.N) 1.24 billion-pound ($1.52 billion) acquisition of healthcare technology firm EMIS (EMISG.L). The Competition and Markets Authority (CMA) confirmed it found no competition concerns in the deal between specialist healthcare tech and software companies, which provide services to Britain's National Health Service (NHS). Optum UK, part of U.S.-based UnitedHealth, unveiled an offer to acquire EMIS in June last year, to position the combined entity to provide better services to the NHS. ($1 = 0.8173 pounds)Reporting by Richard Rohan Francis in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Richard Rohan Francis, Eileen Soreng Organizations: Markets Authority, CMA, National Health Service, Optum, Thomson Locations: U.S, Bengaluru

☆ Launch of arthritis drug biosimilars ramps up US pressure on pricing 'middlemen'
▼ + stars: | 2023-07-25 | by ( Patrick Wingrove | ) www.reuters.com time to read: +5 min

Seven drugmakers this month launched their own versions, known as biosimilars, of AbbVie's (ABBV.N) flagship arthritis drug Humira, once the world's top-selling prescription medicine. Three have kept their list price within 5%-7% of AbbVie's, two priced at an 85% discount and two have offered both types of prices. For insured patients who are often on the hook for co-pays of 10% to 25% of the list price, the savings have been minimal. Reuters GraphicsThe Biden administration has made lowering drug prices a priority. Amgen offered 5% and 55% discounts to AbbVie's $6,922 per month Humira price tag, and both were included on drug coverage lists at two large PBMs.

Persons: Dado Ruvic, Humira, Ameet Sarpatwari, Biden, PBMs, Cigna, UnitedHealth, Amgen, Robin Feldman, Ron Wyden, Wyden, Chuck Grassley, Grassley, Patrick Wingrove, Moira Warburton, Josephine Walker, Caroline Humer, Bill Berkrot Organizations: REUTERS, Association for Accessible Medicines, Harvard Medical School, Reuters, Lawmakers, Federal Trade Commission, FTC, CVS, Biosimilars, Healthcare, Novartis, Sandoz, Reuters Graphics Reuters, University California College of the, Democratic, Republican, Thomson Locations: U.S, Humira, San Francisco, New York, Washington

July 14 (Reuters) - UnitedHealth Group's (UNH.N) quarterly profit beat Wall Street estimates on Friday as a smaller-than-expected jump in medical costs allayed fears that a resumption in long-delayed surgical procedures would hit profit growth, sending its shares up 5%. The beat from the industry bellwether lifted the shares of rivals Humana (HUM.N), Cigna (CI.N), CVS Health (CVS.N) and Elevance Health (ELV.N) between 2% and 5%. Chief financial officer John Rex said the company expects medical costs for the third quarter to be "a little bit lower" compared to the second quarter. UnitedHealth's profit of $6.14 per share for the second quarter beat analysts' expectations of $5.99, according to Refinitiv. Reporting by Bhanvi Satija and Raghav Mahobe in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: John Rex, Stephens, Scott Fidel, UnitedHealth, Humana, Bhanvi Satija, Pooja Desai Organizations: Wall, Humana, CVS Health, Elevance, Health, Medicare, Thomson Locations: Bengaluru

☆ UnitedHealth stock jumps after earnings top estimates despite rising medical costs
▼ + stars: | 2023-07-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

UnitedHealth Group' s stock price jumped Friday after the health-care conglomerate reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations despite rising medical costs. UnitedHealth Group is the biggest health-care company in the U.S. by market cap and revenue, and is even bigger than the nation's largest banks. Given its size, UnitedHealth Group is considered a bellwether for the broader health insurance sector. UnitedHealth Care said that was driven by the previously noted uptick in elective surgeries and outpatient care activity, primarily among seniors. But UnitedHealth Group executives indicated that the trend may be reversing.

Persons: UnitedHealth, –, John Rex, Rex, Goldman Sachs Organizations: UnitedHealth, Refinitiv, Healthcare, Analysts, Goldman, Rex . Insurance Locations: Minnesota, U.S

☆ The arms race for doctors is on. CVS is hoping a $10.6 billion deal will help it compete with Amazon and UnitedHealthcare.
▼ + stars: | 2023-02-08 | by ( ) www.businessinsider.com time to read: +5 min

CVS Health just said it wants to buy primary-care company Oak Street Health for $10.6 billion. CVS Health is finally entering the arms race among health insurers and big retailers to employ doctors. Oak Street gets most of its revenue from relationships with CVS-owned Aetna rivals Humana, Centene, and UnitedHealthcare. And though Aetna is a big Medicare Advantage player, it also has millions of members who get insurance through their employers. Mike Pykosz, Oak Street Health CEO Oak Street HealthGuertin also noted that the improved health outcomes and better experience provided in Oak Street clinics would help Aetna hold onto its Medicare Advantage patients.

The Mark Cuban Cost Plus Drug Company negotiates directly with drugmakers. So far, that's been the strategy for the Mark Cuban Cost Plus Drug Company. In October, Cost Plus Drug Company announced a partnership with Capital Blue Cross. Cuban said he wanted Cost Plus Drug Company to be as transparent as possible on pricing. Cost Plus Drug Company is considering a test program for insulin that would offer a 90-day supply of insulin, or a total of 12 vials, for $170.

"The legal precedent is not on the side of the FTC," said Andre Barlow, an antitrust lawyer at Doyle, Barlow & Mazard PLLC. Barlow pointed to three recent mergers challenged by the FTC or Justice Department that were ultimately allowed to proceed. Those cases share something else in common with the proposed Microsoft deal: in each instance, a company would merge with a supplier in a so-called "vertical" merger. "Vertical merger challenges are really difficult to win so it will be an uphill battle for the FTC," said Roger Alford, who teaches law at the University of Notre Dame. Reuters reported last month that Microsoft was expected to offer remedies to EU antitrust regulators in the coming weeks to stave off formal objections to the deal.

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