So far the legislation has hit road bumps despite the bipartisan interest in addressing an issue that voters care about. House Majority Leader Steny Hoyer (D-Md.) wants lawmakers to come up with a deal. In other health industry news: supply chain integration, earnings reports, job cuts, and more.
Modern Healthcare: House Leader Aims For Surprise Billing Deal By Presidents Day
House Majority Leader Steny Hoyer (D-Md.) wants the House to move on legislation banning balance billing as soon as mid-February, he told reporters Tuesday. So far, the House Energy & Commerce and Ways & Means committees have been at odds over the best approach to address payment for bills a patient receives from an out-of-network provider at an in-network facility. (Cohrs, 1/28)
Modern Healthcare: CommonSpirit Tasks Premier With Supply Chain Integration
CommonSpirit Health consolidated its group purchasing organization service provider, selecting Premier to help integrate the 137-hospital system’s supply chain, the organizations announced Tuesday. Before the not-for-profit health systems merged, Dignity Health primarily used Premier and Catholic Health Initiatives used HealthTrust. But the large institutions used various services from both companies, executives noted. (Kacik, 1/28)
Modern Healthcare: HCA Revenue Beats The Hospital Chain’s Expectations In 2019
HCA Healthcare either surpassed or came in at the high end of its 2019 guidance on some of its key metrics: revenues, non-GAAP earnings and capital spending, prompting praise from analysts on its Tuesday earnings call. “They delivered once again,” said Frank Morgan, an analyst with RBC Capital Markets. (Bannow, 1/28)
Modern Healthcare: Health Care Service Corp. Sheds Hundreds Of Workers
Blue Cross of Illinois parent Health Care Service Corp. is cutting about 400 employees as it positions itself for growth in a rapidly changing industry. The layoffs, announced internally today, include middle management positions—mostly employees with senior manager and director titles, HCSC spokesman Greg Thompson told Crain’s. (Goldberg, 1/28)
Bloomberg: Cancer Chain Demands Woodford’s Fund Honors Investment Pledge
Rutherford Health Plc has called on the frozen fund of Neil Woodford to honor part of a promised investment as the disgraced stock picker’s clients learn the extent of their losses. The Hereford-based chain of cancer centers is seeking 7.5 million pounds ($9.8 million) via a share sale to the LF Income Equity Fund, the company said in a statement Tuesday. Proceeds raised from the issue will be used for additional working capital. (Waite, 1/28)
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