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THIS MORNING’S TOP HEALTHCARE NEWS
Chinese billionaire Tianqiao Chen as recently as February used his 10% stake in Legg Mason to gain two board seats at the asset-management firm, including the vice chairmanship for himself. His designs for CHS haven’t been made public but he already carries weight with his holdings. READ MORE
As policymakers and the drug and device industry look for new ways to bring treatments for life-threatening conditions to the market sooner, providers are concerned that expedited approvals could compromise patient care. READ MORE
Mylan allegedly misclassified EpiPens as a generic drug, which may have cost the government up to $1.27 billion in lost Medicaid rebates, according to federal estimates. READ MORE
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PROVIDERS
Out with nursing homes, in with home health care Northwestern Medicine may have found the one hospital market where investment in long-term care hasn’t paid off: affluent north suburban Lake Forest, Ill. READ MORE
Bayada Home Health Care transitions to not-for-profit with new CEO Bayada Home Health Care described the move to not-for-profit as the first of its kind in the industry, driven by a motivation to sustain the organization for multiple generations and bolster recruiting and retention efforts. READ MORE
Summa’s financial losses continue to mount A new financial disclosure shows Summa Health lost more than $33 million in the first half of this year, compared with a $14 million profit for the like period last year. Interim CEO Dr. Cliff Deveny previously warned that the system was on track to lose more than $60 million in operating income. READ MORE
INSURANCE
New York approves 14.6% rate hike for health plans Although insurers asked for a 17.7% increase, New York’s Department of Financial Services approved a 14.6% bump as it factored in the potential loss of cost sharing–reduction payments that insurers use to cover out-of-pocket expenses for lower-income consumers. READ MORE
GOVERNMENT
Changes to 340B drug discount rule delayed until July 2018 A rule that would set new ceiling prices in the 340B drug discount program has been delayed until mid-2018 while HHS considers alternative regulations. READ MORE
Cleveland Clinic will pull event from Mar-a-Lago resort A leading U.S. hospital pulled its annual fundraiser from Donald Trump’s Mar-a-Lago resort on Thursday, reversing course after initially resisting pressure from health professionals and others over the president’s support for repealing the Affordable Care Act and cutting federal research dollars. READ MORE
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