HEALTH TECH
‘Cybersecurity is patient safety’: What the ransomware attack on Change Healthcare should teach the industry
As the disruption caused by the cyberattack at Change Healthcare stretches beyond its tenth day, cybersecurity experts say the incident could spur greater emphasis on enhancing protocols—and greater oversight from the feds.
On Feb. 21, Change Healthcare’s systems were taken offline and its parent company, Optum, disclosed the following day that a cybersecurity issue was behind the outage. UnitedHealth Group initially pinned the blame for the attack on a “nation-state” affiliated actor before acknowledging on Thursday that it was caused by BlackCat, a notorious cybercriminal gang also known as ALPHV or Noberus.
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Biden signs $460B spending bill with doc pay bump, delayed DSH cuts and community health funding
The Senate followed the House by clearing a spending package Friday night that keeps a portion of the federal government funded until September and prevents a partial government shutdown.
The Senate voted 75 to 22 to approve the $460 billion package, according to media reports. Earlier in the week, House lawmakers approved the measure by a 339-to-85 vote, the New York Times reported.
President Joe Biden signed the measure on Saturday.
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US government calls for insurance companies to make advanced payments following cyberattack disruption
The US government on Sunday urged insurance companies to make advanced payments to health care providers following a cyberattack that disrupted insurance processing systems.
The cyberattack had “significant impact” on Change Healthcare, a unit of health IT giant UnitedHealth Group, which processes 15 billion health care transactions annually. CNN previously reported that the cyberattack has resulted in pharmacies and hospitals unable to process prescription bills across the country.
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GROUP
Employers prioritize wellness over the cost of benefits, new study finds
In the previous three years, price per employee was the top benefit consideration for employers, however this year it dropped by 22%, landing in third place.
Organizations are shifting their benefits priorities as a competitive marketplace and low unemployment make it more challenging to attract and retain top talent.
A new study by TransUnion, an American consumer credit reporting agency, found that the price of benefits is dropping in importance for employers. In the previous three years, price per employee was the top benefit consideration for employers, however this year it dropped by 22%, landing in third place.
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Understanding available employee benefits helps advisors fill gaps, study says
According to a recent MDRT study, 69.7% of U.S. workers surveyed said they will have at least one employer-provided insurance policy in 2024 other than health insurance. In addition to term life insurance and long-term disability insurance, many employers offer more specific insurance policies to employees.
“By leveraging their knowledge of employee benefits,” MDRT member Brian Heckert said, “advisors can empower their clients to make informed decisions about their financial future, ultimately helping them achieve greater financial security and stability.”
2024 employee benefits options
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MEDICARE
WEBINAR
Staying Ahead of the Medicare Conversion Factor
As we enter 2024, providers are faced with yet another cut to reimbursements from CMS, whose final rule on the 2024 Medicare Physician Fee Schedule reduced the Medicare Conversion Factor by nearly 3.4%. In the ever-changing landscape of healthcare, staying ahead of the Medicare Conversion Factor is crucial for ambulatory and long-term care facilities to maintain financial stability and continue delivering quality care.
In order to prepare for continually declining Medicare reimbursements, it is imperative that healthcare financial professionals understand the true cost of providing their services. This includes not only the impact of direct patient care costs, but also indirect expenses.
Webinar : Staying Ahead of the Medicare Conversion Factor
Date: 03/15/2024
Start Time: 11:00AM EDT
REGISTER TO ATTEND:
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Medicare announces emergency funds for doctors affected by Change Healthcare hack
Federal health officials on Saturday said they would offer emergency funding to physicians, physical therapists and other professionals that provide outpatient health care, following a cyberattack that crippled the nation’s largest processor of medical claims and left many organizations in financial distress.
The Centers for Medicare and Medicaid Services also announced that it would make advance payments available to suppliers that bill through Medicare Part B, which serves a wide array of health-care organizations. Officials had previously announced a similar program to make emergency payments available for hospitals that had been ensnared by the Feb. 21 hack of Change Healthcare, a unit of UnitedHealth Group, and have struggled to get paid for more than two weeks. The emergency funds represent upfront payments made to health-care providers and suppliers based on their expected future claims.
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Common heart health drugs now available under $30 through GoodRx
GoodRx is offering 30 common heart health medications for less than $30 at more than 70,000 pharmacies across the country.
Cardiovascular disease is the leading cause of death in the U.S. Among the generics now available are ACE inhibitors like lisinopril, beta blockers like propranolol, calcium channel blockers like amlodipine and statins like pravastatin. Brand-name medications available with discounts, which may require commercial insurance, include Entresto, Ozempic and Toprol XL.
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4 top drugmakers present their case to overturn Medicare price negotiation program
Bristol Myers Squibb, Novo Nordisk, Novartis and Johnson & Johnson presented their arguments on Thursday in New Jersey district court, just a week after a similar AstraZeneca suit was dismissed by a federal judge in Delaware.
Four leading drugmakers were back in federal court on Thursday to challenge the constitutionality of the Medicare Drug Price Negotiation Program under the Inflation Reduction Act.
Bristol Myers Squibb, Novo Nordisk, Novartis and Johnson & Johnson presented their arguments to Judge Zahid N. Quraishi of the U.S. District Court for the District of New Jersey. This hearing was different from the others in that the court allowed the four companies to present their oral arguments in a single session.
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Biden’s State of the Union: 13 healthcare takeaways
Kelly Gooch and Alexis Kayser
During his State of the Union address March 7, President Joe Biden highlighted more than a dozen issues affecting healthcare leaders, from reproductive rights to prescription drug costs.
Here are 13 key healthcare takeaways from the speech with context:
1. Expanding Medicare’s drug price negotiation scope: Medicare is limited to negotiating prices for 20 drugs per year. President Biden asked Congress to allow Medicare to negotiate prices for at least 50 drugs per year, including drugs used for treating heart disease, cancer and diabetes. “This year Medicare is negotiating lower prices for some of the costliest drugs on the market that treat everything from heart disease to arthritis,” he told Congress. “Now it’s time to go further and give Medicare the power to negotiate lower prices for 500 drugs over the next decade.”
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INDUSTRY CALENDAR
2024 CONFERENCES
- March 17-20, ILTCI Conference (Intercompany Long-Term Care Insurance (ILTCI), Town & Country Resort San Diego, CA, Register
- May 6-8, CAHIP Capital Summit @Kimpton Sawyer Hotel, Sacramento, Register
- June 23-26, Society for Human Resources Management SHRM24 Annual Conference and Expo @ Chicago, Register
MARCH
- March 15 @5-10PM- Sacramento Assoc of Health Underwriters(SAHU),Crab Feed 2024 @Citrus Heights Comm. Center 6300 Fountain Square Dr, Citrus Heights CA, Register
- March 21@8-10 AM: CAHIP-LA Monthly Board Meeting-March, Register
- March 21 @ 4:00pm: CAHIP Golden Gate Movie Trivia PAC Fundraiser @ Plank 98 Broadway Oakland CA 94607, Register
- March 26 @1:00pm: Live Virtual Level-Funded Health Plans Course, Register
VIRTUAL TRAININGS
- March 15 @8am, Webinar: Staying Ahead of the Medicare Conversion Factor, Register
- March 26@1:00pm-3:00pm, NABIP Live Virtual Level-Funded Health Plans Course, Register
- March 27 @12:00-1:00pm, CalMatters Event: When Maternity Wards Close, Where Do Patients Go? , virtual or in person @CalMatters Studio & Virtual, 1303 J St, Suite 200, Sacramento, CA 95814, Register
APRIL
- Apr 18 @5:30-8:00 PM, NAIFA Los Angeles, 1st Annual Pathway to Excellence Awards Night 2024, Register
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