CONSUMER CONFIDENCE: Up!

Posted on November 30, 2023 by Dr. David Edward Marcinko MBA

By Staff Reporters

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Consumer confidence rose for the first time in four months

The Consumer Conference Board’s index rose from 99.1 in October to 102 in November thanks to US consumers’ optimism around short-term income, hiring prospects, and the slowdown in inflation. The perceived likelihood of a recession also fell to the lowest level of 2023—though two-thirds of Americans still think one is either “somewhat” or “very likely” to happen in the next year.

The improved economic outlook comes after home prices rose to a new record in September, even as mortgage rates remained elevated.

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DAILY UPDATE: Hospital Ransomware Attack as Stock Markets Mixed Ahead of Inflation Reading

Posted on November 30, 2023 by Dr. David Edward Marcinko MBA

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

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A ransomware attack has caused a health care chain, which operates 30 hospitals in six states, to move patients from some of its emergency rooms to other hospitals, while putting certain procedures on pause, the company announced.

According to a statement from Ardent Health Services, the attack happened on November 23rd. The company said as a result of the attack, it took its network offline and suspended user access to its information technology applications, including the software used to document patient care.

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Here is where the major benchmarks ended:

Here’s where the major benchmarks ended:

  • The S&P 500® index was down 4.31 points (0.1%) at 4,550.58; the Dow Jones Industrial Average was up 13.44 points at 35,430.42; the NASDAQ Composite ® was down 23.27 points (0.2%) at 14,258.49.
  • The 10-year Treasury note yield (TNX) was down about 8 basis points at 4.261%.
  • CBOE ® Volatility Index (VIX) was up 0.29 at 12.98.

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“BREAKING NEWS” Cigna and Humana to Merge?

Posted on November 30, 2023 by Dr. David Edward Marcinko MBA

By Staff Reporters

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Cigna and Humana are in talks for a combination that would create a new powerhouse in the health-insurance industry. The companies are discussing a stock-and-cash deal that could be finalized by the end of the year, assuming the talks don’t fall apart.

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A combination of the managed-care providers would be huge, given Cigna’s market value Wednesday morning of about $83 billion and Humana’s of roughly $62 billion.

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Cigna and Humana previously explored merging in 2015, but Humana instead struck a deal with another rival, Aetna, that was blocked by a judge on antitrust grounds, leaving Aetna to be scooped up by CVS in 2018. Another deal that would have combined Cigna with Anthem, now known as Elevance Health, also died after an adverse antitrust ruling.

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Editor’s Note: Medicare Advantage plans are pretty popular with both lawmakers and ordinary Americans — they now enroll about 31 million people, representing just over half of everyone in Medicare, by KFF’s count. Across the country, doctors are grumbling about claim denials and onerous pre-approval requirements by Medicare Advantage plans. Some hospitals and physician practices are so fed up they’re refusing to accept the plans — even big ones like those offered by United Healthcare, Cigna and Humana.

“The insurance companies running the Medicare Advantage plans are pushing physicians and hospitals to the edge,” said Chip Kahn, president and CEO of the Federation of American Hospitals, which represents the for-profit hospital sector.

And, just last week, the industry’s largest lobbying group, the American Hospital Association, fired off a letter to the Centers for Medicare and Medicaid Services warning that some insurers seem intent on circumventing new rules put in place by the Biden administration aimed at reining in some prior authorization and claim denials.

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