Demand for medical devices has seen a surge following a sharp decline in COVID-19 infections as customers, particularly older adults. GE HealthCare also raised the low end of its annual adjusted profit forecast range to $3.75 per share from $3.70, while maintaining its top end at $3.85.
WellNow previously informed patients that it would stop accepting the company’s insurance if it did not update its reimbursement rates. In a notice of termination sent to Excellus by WellNow, the urgent care says, "The seemingly intractable position taken by Excellus BlueCross BlueShield to keep reimbursement rates well below historical reimbursement over the past decade and failure to recognize and appreciate the distinction between primary care practices and urgent care centers makes our business relationship an untenable proposition going forward."
Two doctors groups with Scripps Health in San Diego are terminating contracts with private Medicare plans over concerns about payments and routine denials. Experts say these disputes could be an early warning sign of more contract terminations ahead as hospitals and large doctor groups seek lucrative payments to offset inflation, healthcare workers' double-digit raises and escalating prices for medical supplies.
Brian Potter, senior vice president of finance at the WHA, said the situation isn’t a big cause for concern unless this downward trend continues. Supplies and services are a hospital’s biggest expense, and those costs are rising. According to the report, those expenses have climbed 26.7 percent since 2019. Salary and fringe benefits are hospitals’ second-highest expense, making up 42 percent of their costs.
The Biden administration dropped a new proposal Friday designed to fix the controversial dispute resolution process that's part of the federal surprise billing ban.
The aim of the affiliation is to leverage the economies of scale for rural hospitals in purchasing supplies, including medical scanners and other big-ticket items, and attracting doctors and nurses, The network allows hospitals to enhance the quality of care “in an increasingly challenging health care marketplace,” according to a PMCN statement.