March 13, 2023
Venture capital firms and founders of digital health companies are picking up the pieces after an eventful few days tied to the failure of Silicon Valley Bank.
“We had all of our money at Silicon Valley Bank. They were our full banking partners,” said Ellen DaSilva, CEO and founder of Summer Health, a text-based pediatric care provider. “When I started the company, I would say all of the people in my life also banked with SVB.”
March 10, 2023
BROCK E.W. TURNER
The Federal Deposit Insurance Corporation’s decision to take over Silicon Valley Bank on Friday is likely to leave many digital health companies scrambling to pay employees and suppliers.
SVB, the nation’s16th largest bank and headquartered in Santa Clara, California, was a big bank for tech companies, startups and venture capital firms. The bank said on its website that it had $78.8 billion in healthcare deposits and investments as of December.
Many physicians have expressed dissatisfaction with their income in light of inflation and CMS pay cuts. However, some specialties have seen a sharper drop in pay than others.
This data was pulled from Physicians Thrive’s 2022 Physician Compensation Report and Merritt Hawkins and AMN Healthcare’s 2022 “Review of Physician and Advanced Practitioner Recruiting Incentives” reports.
February 23, 2023
Humana will leave the commercial health insurance market and focus its efforts on government-sponsored products such as Medicare Advantage, the company announced Thursday.
February 06, 2023
The coming end of the COVID-19 public health emergency and pandemic-era telehealth flexibilities could rattle an already besieged behavioral health system and force providers to make ethical decisions.
The public health emergency, which President Biden will end May 11, allowed clinicians to prescribe controlled substance medications via telehealth without an office visit. The 2008 Ryan Haight Act, which temporarily waived the office visit requirement, allowed providers to treat a larger population of behavioral health patients more efficiently because they could prescribe and see patients remotely.
January 30, 2023
Medicare Advantage carriers will be on the hook for errors made in diagnostic coding reaching back to 2018 under a final rule the Centers for Medicare and Medicaid Services issued Monday.
The Medicare Risk Adjustment Data Validation, or RADV, regulation took five years to complete after its draft version published in 2018 and attracted vehement opposition from the health insurance industry.
January 26, 2023
WASHINGTON — The FBI and international partners have at least temporarily disrupted the network of a prolific ransomware gang they infiltrated last year, saving victims including hospitals and school districts a potential $130 million in ransom payments, Attorney General Merrick Garland and other U.S. officials announced Thursday.
January 05, 2023
The Federal Trade Commission seeks to ban noncompete clauses, contract provisions used by many healthcare employers that allegedly suppress wages, limit innovation and deter new businesses, through a proposed rule published Thursday.
January 04, 2023
CRAIN’S CHICAGO BUSINESS
Chicago-based Catholic hospital chain CommonSpirit Health has been hit with a proposed class-action lawsuit over its month-long data breach at the end of last year that impacted more than 600,000 patients.
January 02, 2023
New York City’s struggle to switch more than a quarter-million retired government workers and their dependents from traditional Medicare to private health insurance could set an alarming precedent for employers and insurers banking on the fast-growing group Medicare Advantage program.