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☆ Why so many drug stores are closing
▼ + stars: | 2023-10-16 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Now, they are closing thousands of stores, leaving gaps in communities for medicines and essentials. It comes amid walkouts by Walgreens pharmacists and technicians around the country and at CVS stores in Kansas City over low pay and understaffed stores. Drug store strugglesRite Aid’s bankruptcy reflects long-term struggles in the retail pharmacy industry. Walgreens and other drug stores have closed thousands of stores in recent years. But this strategy requires fewer brick-and-mortar retail stores.

Persons: Angus Mordant, Justin Sullivan, drugstores, ”, David Silverman, ” Silverman, Drugstores Organizations: New, New York CNN, Rite Aid, Bloomberg, Getty Images Rite, Walgreens, CVS, Walmart, Fitch, Aetna, Pharmacy, McKinsey . Rite, American Medical Association Locations: New York, Kansas City, drugstores

☆ 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

☆ Explainer: What you need to know about RSV and the new vaccines
▼ + stars: | 2023-09-22 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

That Pfizer (PFE.N) shot and one developed by GSK (GSK.L) in May became the first two RSV vaccines to win U.S. approval, for use in people aged 60 and over to prevent severe illness. Still, infants and older adults have a higher risk of developing severe RSV. RSV leads to 58,000 to 80,000 hospitalizations among children under age 5, and 60,000 to 160,000 hospitalizations among adults age 65 and older each year, according to the CDC. Early data suggests that the RSV shots are protective for at least two years, but it is not yet clear how often older adults will need to be revaccinated. Can I get the RSV shot alongside my COVID and flu shots?

Persons: Pfizer's, Synagis, it's, Jeffrey Duchin, you've, Michael Erman, Bhanvi, Caroline Humer, Bill Berkrot Organizations: . Centers for Disease Control, Prevention, Pfizer, GSK, CDC, FDA, Sanofi, AstraZeneca, Infectious Diseases Society of America, CVS, Humana, Thomson Locations: U.S, Aetna, New York, Bengaluru Edtiting

☆ Wolfe Research think this pharma stock can bounce back and deliver long-term earnings growth
▼ + stars: | 2023-09-12 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

The firm upgraded the stock to outperform from "peer perform," noting it has an "attractive" risk-reward ratio. Analyst Justin Lake raised his price target to $80, implying 16.4% upside from Monday's close of $68.75, which was the firm's previous price target. The analyst said he sees potential for CVS to more conservatively set expectations for earnings growth in 2025 and beyond in the high single-digit range. The stock has gained 5.5% so far this month, however, and rose 4.4% during Monday's trading session. Combined, Lake said these efforts should effectively allow CVS to "reinvest for future growth."

Persons: Justin Lake, Lake, Brian Kane, — CNBC's Michael Bloom Organizations: CVS, Wolf Research, Blue, Aetna, CNBC Locations: California

☆ Would you pay hundreds of dollars for an app your doctor prescribed? Buzzy digital therapeutics could make you healthier — but your insurer probably won't cover them.
▼ + stars: | 2023-09-01 | by ( Natalie Rahhal | ) www.businessinsider.com time to read: +8 min

Apps such as Somryst — known as prescription digital therapeutics — aim to raise the bar for personal healthcare delivered via smartphone. Digital therapeutics show promise for treating IBS and insomniaFunding for digital therapeutics surged by 133% between 2020 and 2021, and the sector's global value is estimated to grow from roughly $7 billion to about $28 billion from now to 2030, Fortune Business Insights reported. In fact, many insurance companies want years of data on real-world use before covering digital therapeutics, Insider previously reported. While there are free nonprescription DTxs available from sources such as the Department of Veterans Affairs, those aren't cleared by the FDA, and privately made prescription digital therapeutics often cost hundreds of dollars. "Digital therapeutics are meant to increase access to care.

Persons: Charlotte Jee, Jee, Corey McCann, John Torous, Beth Israel, they're, Torous, They're, AspyreRx, Mark Berman, hadn't Organizations: Healthcare, Morning, MIT Technology, National Health Service, Food and Drug Administration, Pear Therapeutics, Harvard Medical, Beth Israel Deaconess Medical, Fortune Business, FDA, Better Therapeutics, Disease Control, Department of Health, Human Services, of Health, Department of Veterans Affairs, Aetna

☆ Insight: What happens when a $2 million gene therapy is not enough
▼ + stars: | 2023-08-12 | by ( Deena Beasley | ) www.reuters.com time to read: +13 min

Their experience raises broader questions around other high-cost gene therapies coming to market, sometimes after accelerated regulatory approvals, drug pricing experts said. Gene therapies work by replacing genes – the body's blueprint for its development. The gene Zolgensma delivers instructs the body to make a protein vital for muscle control. If gene therapies do fall short, it becomes harder to justify prices that researchers have argued are already poor value. More recently, the first hemophilia gene therapy approved by the U.S. Food and Drug Administration was priced by CSL Behring at $3.5 million; 26 more gene therapies are in late-stage development, according to IQVIA.

Persons: Elizabeth Kutschke, Ben, Zolgensma, Ben Kutschke, neurologists, Sitra Tauscher, Wisniewski, Ben's, Roger Hajjar, Brigham Gene, Kutschke, Vasant Narasimhan, Stacie Dusetzina, Roche's, Biogen, Roche, Maha Radhakrishnan, Steven Pearson, It's, Sree Chaguturu, Amanda Cook, Weston, Jackson, Cook, Elizabeth, Jerry Mendell, Russell Butterfield, –, Biogen's, Mendell, UMR, Spinraza, Eric Cox, Caroline Humer, Sara Ledwith Organizations: Reuters, U.S, Novartis, IQVIA Institute, Human Data, Novartis Gene Therapies, Mass, Cell Therapy, U.S . Food, Drug Administration, CSL Behring, CSL, Nashville's Vanderbilt University School of Medicine, Clinical, Economic, CVS Health, Aetna, SMA, Nationwide Children's Hospital, University of Utah Health, Children's, UnitedHealth, Thomson Locations: Oak Park, Berwyn , Illinois, Swiss, U.S, Lebanon , Virginia, United States, Columbus , Ohio, Russia, Kazakhstan, Chicago

☆ Insurers face long road, high cost to cover obesity drugs after promising Wegovy heart health data
▼ + stars: | 2023-08-09 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +8 min

There is likely a long way to go before the U.S. sees increased insurance coverage for obesity drugs. While the trial results demonstrate that obesity drugs may have significant health benefits beyond shedding unwanted pounds, organizations representing U.S. insurers emphasized that the data is still preliminary. "Health insurance providers will continue to analyze new evidence as it becomes available," he added. Ceci Connolly, CEO of the Alliance of Community Health Plans, acknowledged the promise of the data but said "outrageous prices should give everyone pause." The organization represents regional, community-based health plans that cover more than 18 million Americans across the U.S.

Persons: Jim Vondruska, Wegovy, Eli Lilly, David Allen, Ceci Connolly, Jared Holz, It's, Debra Tyler's, Joe Buglewicz, Eduardo Grunvald, George Frey, UCSD's Gunvald, Eli, Ethan Lazarus, Lazarus Organizations: Reuters Novo Nordisk, Novo Nordisk, America's Health, Alliance of Community Health, U.S, Drugs, Pfizer, Medicare, CVS, Aetna, CNBC, Washington Post, Getty, UCSD Health's Center, International Foundation of Employee, University of Texas System, UTS, Novo, Reuters, Obesity Medicine Association, New England, of Medicine Locations: Chicago , Illinois, U.S, Mizuho, Killingworth, Conn, Texas

[1/2] Rob Olan (C), employee of the healthcare investment fund Deerfield Management, departs Federal Court in Manhattan in New York, U.S., May 24, 2017. FollowNEW YORK, Aug 1 (Reuters) - A long-running federal insider trading case based on leaks about planned changes to Medicare reimbursement rates will likely end with no convictions, after the remaining defendants agreed to enter deferred prosecution agreements. In the healthcare case, the Manhattan appeals court said the leaked CMS information did not support fraud and theft charges against Huber, Olan and Blaszczak, though prosecutors could retry them on one or two counts each. In their deferred prosecution agreements, Huber and Olan acknowledged trading on and Blaszczak acknowledged passing advance information about a proposed CMS rule change. The case is U.S. v. Blaszczak et al, U.S. District Court, Southern District of New York, No.

Persons: Rob Olan, Lucas Jackson, Theodore Huber, Robert Olan, David Blaszczak, Prosecutors, Huber, Olan, George Washington, Chris Christie's, Christopher Worrall, Blaszczak, District Judge Lewis Kaplan, Blaszczak's, David Patton, Barry Berke, Dani James, Damian Williams, Jonathan Stempel, Conor Humphries, David Gregorio Our Organizations: Deerfield Management, REUTERS, Aetna Inc, Centers, Medicare, Services, Democratic, New, New Jersey Republican, District, Court, Southern District of, Thomson Locations: Manhattan, New York, U.S, Deerfield, New Jersey, Southern District, Southern District of New York

☆ Analysis: Weight loss drug candidates multiply, spurring hopes of better outcomes, lower costs
▼ + stars: | 2023-06-27 | by ( Deena Beasley | ) www.reuters.com time to read: +5 min

More than 40% of Americans are obese, according to the U.S. Centers for Disease Control and Prevention, and demand is strong for treatments to reduce body weight as well as maintain weight loss. The company said it would continue to develop its twice-daily weight loss drug candidate. Structure Therapeutics (GPCR.O) is developing oral obesity drugs that it says are simpler to manufacture than the current injectables. "We define weight loss quality as the percentage of weight loss attributed to fat loss," said Versanis Chief Scientific Officer Lloyd Klickstein. "With diets, bariatric surgery, incretin drugs or other weight loss drugs, two-thirds to three-quarters of the weight loss is fat, but one-quarter to one-third is lean."

Persons: Robert Gabbay, Eli Lilly, Lilly's, Wegovy, Mico Guevarra, Lilly, Jeff Emmick, Ray Stevens, Boehringer Ingelheim, Versanis, Lloyd Klickstein, Chaguturu, Deena Beasley, Michele Gershberg, Jamie Freed Organizations: DIEGO, Novo Nordisk's, American Diabetes Association, Novo, U.S . Centers for Disease Control, ADA, Pfizer, Therapeutics, Zealand Pharma, Novartis, CVS Health, Aetna, Thomson Locations: San Diego, GLP

☆ Longevity pioneer Peter Attia explains why the quest to live longer is constrained by the US healthcare system
▼ + stars: | 2023-06-19 | by ( Blake Dodge | ) www.businessinsider.com time to read: +6 min

The ultra-wealthy are betting on tech and science breakthroughs to live longer. Longevity expert Dr. Peter Attia explained why preventative care like that still isn't widespread. The ultra wealthy have been shelling out to live longer for some time. In his view, there's a key obstacle standing in the way of your long-term health, ironically: the U.S. healthcare system. Attia's definition of longevity is a function of lifespan, the number of years you live, and healthspan, how well you can live them.

Persons: Peter Attia, There's, podcaster Rich, Attia, Rich —, Bryan Johnson's, Jeff Bezos, Peter Thiel, OpenAI's Sam Altman, we'll, it's, Rich Roll, Stefanie Keenan, Roll Organizations: Morning, Aetna, Tech, IWC Schaffhausen, behemoth Locations: U.S, Los Angeles, Canada

☆ Health insurance stocks slide after UnitedHealth warns more surgeries will drive up medical costs
▼ + stars: | 2023-06-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Health insurer stocks dropped on Wednesday after UnitedHealth Group warned of higher medical costs as older Americans start to catch up on surgeries they delayed during the Covid pandemic. Shares of UnitedHealth, the largest U.S. healthcare provider by market value, closed around 6% lower. Elevance Health closed roughly 7% lower, and CVS Health , which owns the insurer Aetna, slid nearly 8%. The company has recorded "strong outpatient care activity" throughout April, May and the early part of June, CFO John Rex said at a Goldman Sachs healthcare conference. Shares of medical device manufacturers Medtronic and Stryker jumped 2.5% and 4%, respectively, after UnitedHealth's remarks.

Persons: UnitedHealth, John Rex, Goldman Sachs, Medicare enrollees, Rex, Timothy Noel, Stryker, UnitedHealth's Organizations: UnitedHealth, Medicare, Humana, Elevance Health, CVS Health, Aetna, Insurance, Goldman, Healthcare, Tenet Healthcare

☆ One of America's biggest health insurers just issued a warning that healthcare costs are about to soar
▼ + stars: | 2023-06-14 | by ( Lydia Ramsey Pflanzer | ) www.businessinsider.com time to read: +2 min

An insurance exec warned of higher medical costs as Americans start to get more elective procedures. It suggests people are getting care they put off during the height of the pandemic. Older Americans are starting to get more procedures like hip and knee surgeries, and it's driving up how much one of the biggest US health insurers is spending on medical care. The "strong" level of care older Americans are seeking out suggests that people are getting more comfortable getting procedures they put off during the pandemic, the UnitedHealth Group executive said. The stocks of health insurance companies tumbled on Wednesday following the warning.

Persons: John Rex, Goldman, Jodi Jacobson, Stryker, Medtronic Organizations: UnitedHealth, UnitedHealth Group, CVS Health, Tenet Locations: Goldman Sachs, Aetna

☆ How UnitedHealth Group grew bigger than the nation's biggest banks
▼ + stars: | 2023-05-20 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +3 min

UnitedHealth Group has the highest price per share of any company on the Dow Jones Industrial Average and it's the tenth heaviest-weighted stock on the S&P 500. In fact, not only is UnitedHealth the biggest health-care conglomerate in the United States based on market cap and revenue, it's even bigger than JPMorgan Chase, the nation's largest bank. "If I had to pick one stock, only one stock to buy, I'd buy United[Health]," said Ana Gupte, principal at AG Health Advisors. "UnitedHealth Group is committed to improving the health system for everyone, advancing evidence-based practice and aligning incentives across the system to ensure people get the right care at the right time in the right place," UnitedHealth Group told CNBC. Watch the video above to learn how UnitedHealth Group grew so big and what that means for the U.S. health-care system.

☆ Pfizer to raise $31 billion in debt offering to fund Seagen acquisition, SEC filing shows
▼ + stars: | 2023-05-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

A logo for Pfizer is displayed on a monitor on the floor at the New York Stock Exchange, July 29, 2019. Pfizer plans to raise $31 billion through a debt offering to fund its proposed acquisition of cancer drugmaker Seagen , for what would be its largest takeover since 2009, according to a new filing with the Securities and Exchange Commission. Pfizer expects to complete the $43 billion Seagen buyout later this year or in early 2024. The debt offering is expected to close on May 19, according to a prospectus supplement New York-based Pfizer filed with the SEC late Tuesday. The pharma giant's debt offering would be the biggest since CVS Health sold $40 billion of bonds in 2018 to finance its acquisition of health insurer Aetna.

☆ Corporate Giants Buy Up Primary Care Practices at Rapid Pace
▼ + stars: | 2023-05-08 | by ( Reed Abelson | ) www.nytimes.com time to read: +1 min

It’s no surprise that the shortage of primary care doctors — who are critically important to the health of Americans — is getting worse. So why are multibillion-dollar corporations, particularly giant health insurers, gobbling up primary care practices? CVS Health, with its sprawling pharmacy business and ownership of the major insurer Aetna, paid roughly $11 billion to buy Oak Street Health, a fast-growing chain of primary care centers that employs doctors in 21 states. And Amazon’s bold purchase of One Medical, another large doctors’ group, for nearly $4 billion, is another such move. The appeal is simple: Despite their lowly status, primary care doctors oversee vast numbers of patients, who bring business and profits to a hospital system, a health insurer or a pharmacy outfit eyeing expansion.

☆ CVS Health’s Sales Rise 11%; Oak Street Health, Signify Health Acquisitions Close
▼ + stars: | 2023-05-03 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Corporate giants from Amazon to CVS are investing billions into primary-care practices. Photo illustration: Amber BragdonCVS Health posted an 11% rise in sales during the first quarter as it closed its biggest acquisitions since its nearly $70 billion merger with Aetna in 2018. The healthcare company on March 29 completed the nearly $8 billion acquisition of Signify Health, adding in-home services to its offerings. On May 2, the company closed its $10.6 billion deal for Oak Street Health’s 600 primary-care centers. The newly added units will work together to expand the business, with Signify doctors checking up on home-care patients, who are then referred to either an Oak Street practice or a CVS in-store clinic.

☆ CVS beats on earnings and revenue but lowers profit outlook
▼ + stars: | 2023-05-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

CVS Health on Wednesday reported first-quarter results that beat earnings and revenue expectations, but the company lowered its full-year profit guidance due to costs related to recent acquisitions. CVS reported total revenue of $85.28 billion, an 11% increase over the $76.83 billion a year earlier. CVS' health services segment booked revenue of $44.59 billion, a 12.6% increase over sales of $39.62 billion in the same quarter last year. CVS' health insurance segment generated revenue of $25.88 billion, a 12% increase from the year before. And CVS' retail segment booked revenues of $27.92 billion, and increase of 7.8% compared to sales of $25.89 billion in the first quarter of 2022.

☆ Clover Health, which bet its technology would disrupt health insurance, will outsource health-plan operations and cut jobs to help it turn a profit
▼ + stars: | 2023-04-17 | by ( ) www.businessinsider.com time to read: +3 min

Clover Health bet its technology would disrupt health insurance, but it's struggled with losses. Now it's cutting jobs and it plans to outsource some health-plan operations to lower its costs. Clover Health, an insurance upstart that bet its technology could transform healthcare for seniors, now plans to outsource basic functions like paying medical claims. The Tennessee-based health insurer said Monday that it will shift the responsibility of its core operations to UST HealthProof, a company that handles administrative operations for health plans. It's not unusual for small health insurers to outsource some health-plan operations.

☆ A retired healthcare executive returned 155% in 2020 after learning to trade stocks. Here are her top 4 tips for beating the market and the 2 books that helped her get ahead
▼ + stars: | 2023-04-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

She also advises picking someone that matches your trading style to learn from. Vibha Jha is a retired health insurance executive who began to pursue investing and trading as a passion. In 2020, she decided to enter the US Investing Championship and trade within her Roth IRA. Top 4 tipsKnow your trading style. The source should reflect your trading style.

☆ The former CEO of Aetna shares how he plans to turn around the struggling health insurer Oscar
▼ + stars: | 2023-03-30 | by ( ) www.businessinsider.com time to read: +6 min

Oscar Health struggled to upend the entrenched health insurance industry. Oscar Health has been trying and struggling to upend the US health-insurance industry and the entrenched giants that dominate it for the past 10 years. Oscar Health incoming CEO Mark Bertolini Bridgewater AssociatesLast year, Oscar lost a $60 million contract with its first client, Health First Health Plans. Bertolini wants Oscar to disrupt health-insurance giantsMario Schlosser, founding CEO of Oscar Health Eduardo Munoz/ReutersDespite losing the Health First deal, Bertolini is betting that Oscar will disrupt the insurance industry through partnerships. Oscar has developed health plans with health systems in the past.

☆ Former Aetna CEO to Take Helm of Health Insurer Oscar
▼ + stars: | 2023-03-28 | by ( Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Mark Bertolini said he would initially focus on ensuring Oscar meets its goal of having profitable insurance business this year. Mark Bertolini , former chief executive of health insurance giant Aetna Inc. and hedge fund Bridgewater Associates, will take the helm of Oscar Health Inc. as it seeks to turn a profit and carve out a role as a technology supplier in the healthcare industry. Mr. Bertolini, 66 years old, will take the post effective next Monday, the company said. He will succeed Mario Schlosser , 44, who co-founded Oscar in 2012 with Joshua Kushner and will take the new title of president of technology, reporting to Mr. Bertolini.

☆ Candida auris fungus spreading in U.S. hospitals - CDC
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

FollowMarch 21 (Reuters) - Potentially deadly fungal infections with Candida auris are spreading rapidly in U.S. healthcare facilities, with cases nearly doubling between 2020 and 2021, the Centers for Disease Control and Prevention said. A high fever with chills that does not get better after taking antibiotics may be a sign of Candida auris infection. The CDC noted that spread of the infections in 2021 may have been exacerbated as the healthcare system was hit by pandemic-related stressors, such as staff and equipment shortages. Other countries have also reported increased spread of the fungus, the researchers said. Reporting by Leroy Leo in Bengaluru; editing by Caroline Humer, Nancy Lapid and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ CVS wants to be the doctor for people on Medicare
▼ + stars: | 2023-02-09 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —CVS is buying a primary care doctor’s network, moving the pharmacy deeper into providing physician services for patients. Medicare Advantage, also known as Medicare Part C, is a type of Medicare health plan offered by a private company that contracts with Medicare. In 2018, CVS bought Aetna, making it one of the largest health insurers in the country. “In the last three years, health insurers have become increasingly interested in purchasing primary care practices and employing physicians,” Nicholson said. Additionally, private Medicare plans typically offer higher reimbursement rates from the federal government than traditional Medicare, and CVS wants to capitalize on this, he said.

☆ CVS Health beats quarterly profit estimates on lower medical costs
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

Companies CVS Health Corp FollowFeb 8 (Reuters) - CVS Health (CVS.N) beat quarterly profit estimates on Wednesday, as a decline in hospitalizations from COVID-19 helped bring down medical costs at its Aetna insurance business. The company posted an adjusted profit of $1.99 per share, above estimates of $1.92 per share, according to Refinitiv IBES data. CVS reaffirmed its full-year adjusted profit forecast of between $8.70 and $8.90 per share. Reporting by Raghav Mahobe and Bhanvi Satija in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ CVS just struck a $10.6 billion deal with Oak Street Health to become a one-stop shop for healthcare
▼ + stars: | 2023-02-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

CVS Health is buying Oak Street Health for $10.6 billion, its biggest move into primary care yet. But the Oak Street deal will add full-service medical clinics to what CVS offers. Competition is heating up among major healthcare companies to be the first place you go when you need medical care. Oak Street Health CEO Mike Pykosz Oak Street HealthCVS will pay a premium for Oak Street compared to the clinic operator's IPO price. In Wednesday's all-cash deal, CVS valued Oak Street at $39 a share.

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