Medicare Advantage star ratings reveal shifts in plan quality and performance; Rite Aid seeks debt reduction and restructures amid financial challenges; workers secure improved wages and staffing
Medicare Advantage 2024 Star Ratings Show Fewer Plans Achieve 5 Stars
The latest Medicare Advantage (MA) 2024 Star Ratings have unveiled a notable decline in the number of plans achieving a coveted 5-star rating, according to Healthcare Finance. The reported shift indicates changes in plan quality and performance across the MA landscape. Health insurers will need to adapt and improve in order to meet the evolving standards and provide the best possible care to Medicare beneficiaries.
Rite Aid Files for Bankruptcy, Appoints New CEO in Bid for Turnaround
American drugstore chain Rite Aid has filed for Chapter 11 bankruptcy protection in New Jersey as it grapples with declining sales, a substantial debt load, and legal issues related to the opioid epidemic, according to CNBC. The company announced the appointment of Jeffrey Stein as its new CEO and chief restructuring officer. While Rite Aid has historically relied on its retail pharmacy segment for growth, it has struggled to compete with larger rivals like CVS and Walgreens and faces stiff competition from online retailers. These challenges, coupled with ongoing lawsuits, have pushed the company to seek bankruptcy protection and undertake a restructuring effort in hopes of achieving long-term success.
Tentative Agreement Reached Between Health Care Workers and Kaiser Permanente After Strike
Unions representing 85,000 health care workers have reached a tentative agreement with Kaiser Permanente, one of the industry giants, following a strike over wages and staffing levels, according to The Associated Press. The deal includes minimum hourly wages of $25 in California and $23 in other states, along with a 21% wage increase over 4 years. Both parties emphasized their commitment to patient care during negotiations. The tentative agreement also addresses concerns around subcontracting, outsourcing, and investing in the workforce, marking it a significant milestone in the healthcare industry.
Public Hospitals More Likely to Extend Unprofitable Services After 340B Participation, Study Finds
May 10th 2024Public hospitals were significantly more likely to sustain access to unprofitable services following 340B Drug Pricing Program participation, while nonprofit hospitals were mostly unaffected, according to a recent study.
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Frameworks for Advancing Health Equity: Urban Health Outreach
May 9th 2024In the series debut episode of "Frameworks for Advancing Health Equity," Mary Sligh, CRNP, and Chelsea Chappars, of Allegheny Health Network, explain how the Urban Health Outreach program aims to improve health equity for individuals experiencing homelessness.
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Research Shows Prior Authorization Denials Delay Critical Immunology Care
May 10th 2024Results featured at the Academy of Managed Care Pharmacy 2024 annual meeting revealed a pattern of prior authorization rejections that could delay necessary therapeutic treatments for various patient groups.
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CMS Medicare Final Rule: Advancing Benefits, Competition, and Consumer Protection
May 7th 2024On this episode of Managed Care Cast, we're talking with Karen Iapoce, senior director of government products and programs at ZeOmega, about the recent CMS final rule on Medicare Part D and Medicare Advantage.
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Looking Back on ISPOR 2024: Hot Policy Topics, Welcome Focus on Employers, and More
May 10th 2024Kimberly Westrich, MA, chief strategy officer of the National Pharmaceutical Council, reflects on the most valuable learnings from the 2024 meeting of ISPOR—The Professional Society for Health Economics and Outcomes Research, including lively discussions of the Inflation Reduction Act and workshops on value assessment.
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