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BREAKING NEWS!
47th President of the United States of America
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Quarterly earning reports dropped
Meta reported record revenue but missed on user growth.
Microsoft beat revenue expectations thanks to the AI-driven demand for its Azure cloud platform.
Starbucks had a pretty meh report but CEO Brian Niccol revealed that the chain would stop charging extra for nondairy milk.
DoorDash reported its first operating profit since the pandemic.
Super Micro stock fell more than 30% during yesterday’s trading session after its auditor, Ernst & Young, resigned due to disagreements.
And, despite crypto getting renewed interest as of late, Coinbase missed on revenue and earnings
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The five most valuable US companies in the S&P 500 report earnings this week, and updates on three key economic indicators are set to be released: 1. gross domestic product, 2. inflation, and 3. jobs report. Then, next week brings the election and another expected rate cut from the Federal Reserve.
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Peak earnings season: Five of the Magnificent Seven Stocks will be among the 181 companies reporting their earnings this week. Alphabet is in the Mag Seven lead-off spot on Tuesday, Microsoft and Meta step to the plate on Wednesday, and Apple and Amazon rounding out the lineup and this baseball metaphor on Thursday. These companies account for almost 25% of the S&P 500, which is up 40% over the past year and not far off its record closing number from earlier this month. But, the approaching election, it could be a volatile week in the stock markets.
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According to the National Institute on Retirement Security, almost 40 million households have no retirement savings at all. The Employee Benefit Research Institute (EBRI) estimates in its 2019 Retirement Security Projection Model that America’s current retirement savings deficit is $3.8 trillion.
What does that mean? Well, the EBRI report aggregates the savings deficit of all U.S. households headed by someone between the ages of 35 and 64, inclusive. In total, those households have $3.8 trillion fewer dollars in savings than they should have for retirement.
For more recent data, Fidelity Investments reported that in the third quarter of 2022 the average account balance for an IRA was $101,900. Employees with a 401(k) averaged $97,200, while those with a 403(b) had $87,400.
Fidelity also estimated that “an average retired couple age 65 in 2022 may need approximately $315,000 saved (after tax) to cover health care expenses in retirement.” Keeping in mind that more Americans are also living longer than ever before, they will face more challenges to cover medical expenses in retirement.
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Authors of the seminal textbook Why Nations Fail, Daron Acemoglu, James Robinson, and former International Monetary Fund chief economist Simon Johnson will split the roughly $1 million cash prize for their research, which found a link between a country’s prosperity and the institutions it established during European colonization.
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According to the award-winning research:
Eample: In the twin cities of Nogales, on the US-Mexico border, the north and south parts of the transborder city have the same climate and the same resources, but the section in the US is far richer because of the country’s institutions, according to the researchers.
Critics. Some academics argue the Nobel winners’ premise ignores the effects of culture on prosperity. Others point to an irrefutable counterexample: China continues to experience explosive growth despite having an autocratic government.
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BREAKING NEWS
By Staff Reporters
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he 2024 Nobel Prize in chemistry has been awarded to a trio of scientists who used artificial intelligence to “crack the code” of almost all known proteins, the “chemical tools of life.”
The Nobel Committee lauded David Baker, a US biochemist, for completing “the almost impossible feat of building entirely new kinds of proteins,” along with Demis Hassabis and John Jumper, who work at Google DeepMind, for developing an AI model to predict proteins’ complex structures – a problem that had been unsolved for 50 years.
“The potential of their discoveries is enormous,” the committee said as the award was just announced in Sweden. The prize, seen as the pinnacle of scientific achievement, carries a cash award of 11 million Swedish kronor ($1 million).
READ: https://www.nobelprize.org
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BREAKING NEWS
By Staff Reporters
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The Nobel Prize in Physics has been awarded to two researchers who helped build the foundations of the artificial intelligence that surrounds us today.
John Hopfield and Geoffrey Hinton both worked on machine learning techniques that would go on to power products such as ChatGPT.
Hopfield’s research is carried out at Princeton University and Hinton works at the University of Toronto.
MORE: https://www.nobelprize.org/
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BREAKING NEWS!
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STOCKHOLM (AP) — Two scientists won the Nobel Prize in physiology or medicine on Monday for their discovery of microRNA, tiny bits of genetic material that offer a way for scientists to control what’s happening in our cells and that could lead to new ways of detecting and treating diseases including cancer. The work by Americans Victor Ambros and Gary Ruvkun is “proving to be fundamentally important for how organisms develop and function,” according to a panel that awarded the prize in Stockholm.
NOBEL PRIZE: https://www.nobelprize.org/
Ambros and Ruvkun were initially interested in genes that control the timing of different genetic developments, ensuring that cell types develop at the right time. Their discovery ultimately “revealed a new dimension to gene regulation, essential for all complex life forms,” the panel said.
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BREAKING NEWS
By Staff Reporters
Tropical Storm Helene made landfall in Florida last night as a Category 4 hurricane, the strongest to ever hit the state’s Big Bend. It is a huge and powerful storm—with a wind field that could span the distance between tjhe State of Maryland/Washington, DC, and Indianapolis/Chicago—that has already caused historic flooding to some of Florida’s coastal communities.
How bad is it? The Waffle House Index, which has been used by FEMA as an indicator of a storm’s severity, closed all of its locations in Tallahassee, Florida. The Waffle House Index [WHI] is an informal metric named after the Waffle House restaurant chain, headquartered in Georgia, and used by the Federal Emergency Management Agency (FEMA) to determine the effect of a storm and the likely scale of assistance required for disaster recovery.
And, as of 8am EST, Helene has weakened to a Category 1 as it’s moved into Atlanta, Georgia. Nearly 2 million customers are without power across Florida, Georgia, and North/South Carolina. You can get real-time updates here, as we hope everyone in the region is staying safe.
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Stock market yesterday: The S&P 500 clinched a fresh new record amid GDP data and micro chip stock gains.and Stonk Stocks. Stonk, a deliberate misspelling of stock (meaning “a share of the value of a company which can be bought, sold, or traded as an investment”), was coined in a 2017 meme. The word is often used humorously on the internet to imply a vague understanding of financial transactions or poor financial decisions.
Upbeat GDP data and new stimulus measures in China were largely to thank. One of the day’s big winners was Southwest Airlines, which soared after executives announced plans to revitalize the business.
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Designated a Doody’s Core Title!
To keep up with the ever-changing field of health care, we must learn new and re-learn old terminology in order to correctly apply it to practice. By bringing together the most up-to-date abbreviations, acronyms, definitions, and terms in the health care industry, the Dictionary offers a wealth of essential information that will help you understand the ever-changing policies and practices in health insurance and managed care today.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Cardinal Health has agreed in principle to acquire Integrated Oncology Network for more than $1.1 billion.
And … Advocate Health announced it will wipe clean more than 11,500 judgment liens on patients’ homes and real estate.
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Coca-Cola pulled its new flavor, Spiced, from shelves after just six months because of dis-interest in it.
Visa was sued by the Justice Department for antitrust violations. The DOJ alleged in a complaint filed in Manhattan federal court that the payments giant is illegally monopolizing the debit card market by penalizing merchants who try to use alternatives, Bloomberg reported.
For the first time in more than a decade, the nationwide number of people with obesity hasn’t gone up, according to new CDC data showing that the condition appears in about 40% of US adults.
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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By Staff Reporters
BREAKING NEWS
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Jerome Powell and the Federal Reserve Bank just said that it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease borrowing costs as inflation-weary consumers are grappling with high rates on everything from mortgages to credit cards.
It is the first drop in the federal funds rate — or what banks charge each other for short-term loans — since the U.S. central bank lowered rates to nearly zero in March 2020 amid an economic standstill caused by the pandemic.
But as prices surged during the health crisis, the FOMC repeatedly hiked rates into a target range of 5.25% to 5.5%, the highest in 23 years, in an effort to curb inflation.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
REMEMBER SEPTEMBER 11th – PATRIOT DAY
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Rite Aid completed its financial restructuring by eliminating $2 billion in debt and adding $2.5 billion in exit financing, as the slimmed-down chain is now led by a new CEO
Google reported to court yesterday to defend itself against monopoly allegations for the second time in less than a year in a new case that has the potential to strip the world’s largest online advertiser of a chunk of its ad business.
And, Apple and Google lost on appeal to the European Union’s highest court Tuesday in two separate cases requiring the tech giants to face billions of dollars in fines. The decisions by the Court of Justice of the European Union mark a significant win for the bloc’s antitrust chief Margrethe Vestager.
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Here’s where the major benchmarks ended:
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Big Lots, the 1,300+ store discount chain, has filed for bankruptcy with a plan to sell itself to private equity firm Nexus Capital Management for ~$760 million and a commitment to keep offering “extreme bargains.”
The new CEO of Starbucks, Brian Niccol, formerly of Chipotle, is now officially in charge of the coffee chain.
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Pfizer is stepping out from the pharmacy aisle and into the living room with a new website called PfizerForAll. The platform helps patients find information about migraines, Covid, flu, or other seasonal respiratory viruses, the pharma giant said in a Tuesday press release.
Eli Lilly is slashing the price of its blockbuster weight loss drug, Zepbound, offering new, single-dose vials, the company announced on August 27th. Self-pay patients with an on-label prescription can purchase 2.5-mg and 5-mg single-dose vials of Zepbound at roughly 50% off the drug’s list price through the pharma giant’s direct-to-consumer website, LillyDirect, which launched in January. This is the first time the drug maker has offered the drug in single-dose vials rather than an auto-injector.
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Here’s where the major benchmarks ended:
And, the market’s defensive pose continued, with utilities, staples, and real estate leading sector gains, while energy dove again amid weak commodity prices. Info tech, the last place finisher Tuesday, fell again, but only 0.35%, helped by slight gains in the semiconductor sector.
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Stat: 19%. That’s how much lower your risk of developing heart disease could be if you caught up on sleep during the weekend, according to a recent study. (CNN)
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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By Staff Reporters
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A quantum computer is a computer that exploits quantum mechanical phenomena. At small scales, physical matter exhibits properties of both particles and waves, and quantum computing leverages this behavior using specialized hardware. Classic physics cannot explain the operation of these quantum devices, and a scalable quantum computer could perform some calculations exponentially faster than any modern “classical” computer. In particular, a large-scale quantum computer could break widely used encryption schemes and aid physicists in performing physical simulations; however, the current state of the art is largely experimental and impractical.
The basic unit of information in quantum computing is the qubit, similar to the bit in traditional digital electronics. Unlike a classical bit, a qubit can exist in a superposition of its two “basis” states, which loosely means that it is in both states simultaneously. When measuring a qubit, the result is a probabilistic output of a classical bit. If a quantum computer manipulates the qubit in a particular way, wave interference effects can amplify the desired measurement results. The design of quantum algorithms involves creating procedures that allow a quantum computer to perform calculations efficiently and quickly.
Quantum Computing in Finance
Quantum-computing use cases in finance are slightly further in the future. The long-term promise of quantum computing in finance lies in portfolio and risk management.
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One example could be quantum-optimized loan portfolios that focus on collateral to allow lenders to improve their offerings.
(Read more about how quantum computing could affect financial services.)
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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You might be affected by one of the biggest data breaches ever and not even know it. A recent class action lawsuit filed against Jerico Pictures Inc., a background check company that does business under the name National Public Data, claims that the company was breached by hackers earlier this year.
Here’s where the major benchmarks ended:
What’s Up
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Novo Nordisk sales thinned on Ozempic earnings miss. Shares of Danish pharmaceutical giant Novo Nordisk sank 8.27% today after the company missed expectations on its sales of popular weight-loss drugs Ozempic and Wegovy. Novo reported $1.7 billion in Wegovy sales, below the $2 billion analysts expected, while Ozempic sales came in $0.2 billion lower than analyst estimates. Overall, the company reported a net profit of $1.86 billion in the second quarter.
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By Staff Reporters
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Stock Markets seesawed up yesterday, making back some of the ground lost to Monday’s sell-off. Analysts say the market could remain volatile until September, when the Fed is widely expected to cut interest rates—barring an emergency cut before then. One of the day’s big winners was Uber, which revved up after smashing Q2 revenue expectations thanks to unexpectedly strong consumer demand.
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One day after the S&P 500’s worst session since 2022, stocks partially rebounded, putting fears of a recession on hold. Tuesday started well, with Japan’s Nikkei—which had cratered on Monday—logging its best day since 2008, giving US investors some positive energy From there, US stocks, including Magnificent Seven stalwarts like Microsoft and Nvidia, and both major cryptocurrencies, moved up. “Get used to the volatility,” one Bank of America analyst told Bloomberg. The S&P 500 is still up over 10% this year despite this week’s turbulence.
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Finally, DuckDuckGo might soon get its time to shine. A federal judge just ruled that Google has a monopoly over the search engine business, creating the potential for curbs to its power that could change how you look up people you just met online. Google said it will appeal the ruling, but that’s just on one front. It faces another lawsuit questioning whether it abused its monopoly on online advertising technology.
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BREAKING NEWS
Story by Andrew Griffin • 4h ago
By Staff Reporters
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Microsoft’s online service have been hit by another outage, days after an IT meltdown that brought much of the world to a halt. The company said it was investigating reports of user problems accessing its services, with some reporting being unable to access email and other functions.
An alert on the technology giant’s service status website said it was looking into a “network infrastructure” issue that was impacting access to Microsoft services.
The incident comes less than two weeks after a major global IT outage knocked global infrastructure including transportation and healthcare services offline because of a flawed software update from cybersecurity firm CrowdStrike affected Microsoft devices.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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According to a recent report in the Washington Post, a $3 billion scam involving urinary catheters has brought to light serious flaws in Medicare, prompting strong calls for reform.
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Here’s where the major benchmarks ended:
The US is raising alarm bells about a North Korean hacking group that broke into NASA, two US Air Force bases, and several defense companies. The FBI, NSA and State Department just called out the North Korean hacking group “Andariel” for committing cyber espionage and using ransomware attacks on US hospitals to fund its operations.
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Stat: 524. That’s how many employees Optum is laying off in California. (Becker’s Health IT)
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Filed under: "Ask-an-Advisor", "Doctors Only", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: Andariel, CBOE, cyber espionage, DJIA, FBi, Hacking hospitals, Marcinko, NASA, NASDAQ, North Korea, OPTUM HEALTH, S&P 500, textbooks, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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The Wall Street Journal explores what Kamala Harris as president would mean for the economy. (the Wall Street Journal)
CITE: https://www.r2library.com/Resource
Here’s where the major stock market benchmarks ended:
Thousands of seniors are losing coverage at local hospitals as problems plague Medicare Advantage. Lower payout rates for Medicare and Medicaid are sparking insurance companies to leave certain areas and change coverage options across the country.
CITE: https://tinyurl.com/tj8smmes
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By Vitaliy Katsenelson, CFA
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DEFINITION: What Is a Brokerage Account?
A brokerage account is an investment account held at a licensed brokerage firm. An investor deposits funds into their brokerage account and the brokerage firm transacts orders for investments such as stocks, bonds, mutual funds, and exchange-traded-funds (ETFs) on their behalf. The assets in investment accounts belong to the investors, who normally must report as taxable the income derived from the account.
CITE: https://www.r2library.com/Resource
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READ: Banking Crisis: Is my brokerage account safe?
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Filed under: Breaking News, Career Development, Ethics, Experts Invited, Investing, Op-Editorials | Tagged: brokerage account, brokerage account safety, Cavities Blamed on Patients, Is my brokerage account safe, Vitaliy Katsenelson CFA | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
http://www.MedicalBusinessAdvisors.com
SPONSORED BY: Marcinko & Associates, Inc.
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| Daily Update Provided By Staff Reporters Since 2007. How May We Serve You? |
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You’ve heard of an emergency department and an urgent care center, but have you heard of a freestanding emergency department (FSED)? While only 1% of FSEDs were freestanding in 2001, that figure jumped to 11% in 2016, totaling 566 facilities nationwide. The concept of FSEDs dates back to the 1970s, when these facilities provided emergency care to people in rural areas who didn’t have convenient access to hospitals. In 2001, there were only 50 FSEDs in the US—now there are about 745, according to 2018 research by the Emergency Medicine Network, which Herscovici worked on.
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
The Centers for Medicare and Medicaid Services (CMS) proposed CPT payment codes for some digital therapeutics products for the first time, potentially paving a pathway toward widespread reimbursement for the nascent industry.
CITE: https://tinyurl.com/tj8smmes
In 2025, medical costs are projected to increase 8% in the group market and 7.5% in the individual market—the highest levels seen in 13 years—according to an analysis from consulting firm PwC’s Health Research Institute. The anticipated rise is mainly pinned on inflationary pressure, expensive pharmaceuticals, and an increasing number of patients seeking mental health care, analysts found.
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Filed under: "Ask-an-Advisor", "Doctors Only", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books | Tagged: CBOE, CMS, CPT codes, digital therapeutics, DJIA, ED, emergency room, ER, freestanding emergency department, FSED, Health Insurance, Marcinko, medical costs, NASDAQ, NASDAQ collapse, PwC, S&P 500, textbooks, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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Stat: 13%. That’s how much millennial and Gen Z spending increased year over year, according to American Express earnings released last week. Amex reported slower growth in travel and entertainment compared to the previous quarter, but restaurant spending “remained strong.” (PYMNTS)
CITE: https://www.r2library.com/Resource
Here’s where the major stock market benchmarks ended:
Kidney care giant DaVita has agreed to pay nearly $34.5 million to settle allegations that it paid kickbacks for referrals to its former DavitaRx subsidary.
And … Ardent Health was targeting a $300 million IPO but raised just $192 million.
CITE: https://tinyurl.com/tj8smmes
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Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Information Technology, Investing, Marcinko Associates | Tagged: AMEX, AMX, Ardent Health, CBOE, DaVita, DJIA, Gen Z, Marcinko, NASDAQ, S&P 500, textbooks, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Here’s where the major stock market benchmarks ended:
The Cboe Volatility Index® (VIX) fell sharply to 14.91.
The S&P 500® index (SPX) rose 59.41 points (1.1%) to 5,564.41; the Dow Jones Industrial Average® ($DJI) climbed 127.91 points (0.3%) to 40,415.44; the NASDAQ Composite® ($COMP)jumped 280.63 points (1.6%) to 18,007.57.
The 10-year Treasury note yield (TNX) added two basis points to 4.26%.
CITE: https://www.r2library.com/Resource
The US House of Representatives Committee on Oversight and Accountability is holding a hearing tomorrow, bringing in PBMs from around the US to testify on “their role in rising healthcare costs.” The hearing comes soon after an FTC report found PBMs to have an “outsized influence” on drug pricing.
CITE: https://tinyurl.com/tj8smmes
The February cyberattack on a UnitedHealth Group subsidiary may have exposed the health data of one in three Americans, but the nation’s largest health insurance company by market cap and revenue returned to profitability in the second quarter, beating Wall Street expectations and reporting net income of $4.2 billion.
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By Staff Reporters
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Earnings announcements are a public statement of a company’s profitability for a specific period of time, such as a quarter (90 days) or a year. Equities research analysts will issue estimates of the company’s earnings numbers prior to its announcement date, which is generally set weeks or months in advance. If a company releases better results than analysts predict, its share price will generally rise after the announcement. Below you will find a list of public companies announcing their earnings results this week.
CITE: https://www.r2library.com/Resource
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Earnings reports to feast on them this week. About one-quarter of S&P 500 companies will release their Quarter 2nd financials, including Alphabet, Coca-Cola, Tesla, UPS, Visa, Chipotle, Comcast, GM, and Southwest Airlines.
And if you have room for more economic data, the government will release its first estimate of Q2 GDP on Thursday and an important inflation gauge on Friday.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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http://www.MedicalBusinessAdvisors.com
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Shares of Charles Schwab (NYSE: SCHW) fell over 15% last week, according to data from S&P Global Market Intelligence. One of the largest brokerages posted slow growth and poor earnings as the company deals with low-yielding assets on its balance sheet. As of 1:31 p.m. ET on Friday, July 19th, Charles Schwab stock was down 17.5% this week.
CITE: https://www.r2library.com/Resource
Activist investor Elliott Investment Management has reportedly built up a substantial stake in Starbucks and has been pushing the coffee chain to improve its stock price.
Markets: The S&P 500 logged its worst week since April as investors pulled back from Big Tech stocks. CrowdStrike fell because causing a global IT outage is not good (more on that in a sec).
CITE: https://tinyurl.com/tj8smmes
In a recent video, finance YouTuber Lena Petrova highlighted the troubling financial state of U.S. banks as they report significant losses and increase their reserves to cover a surge in loan delinquencies. With the second quarter results rolling in, it’s evident that the banking sector is under considerable strain.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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CrowdStrike saw its share price plummet Friday, although it is still up ~24% YTD. At $74.2 billion, CrowdStrike has the second-largest market cap in the IT security industry, behind only Palo Alto Networks ($107.1 billion), and reported $900 million in revenue for the quarter ending in April, per Reuters. It’s got ~29,000 customers, which is part of why the outage caused so much havoc.
CITE: https://www.r2library.com/Resource
Crowdstrike Banks: Some traders at JPMorgan Chase, UBS, Bloomberg, and other financial institutions couldn’t execute orders yesterday morning, with one unnamed senior trader telling the Financial Times that it was “the biggest upset in years.”
CITE: https://tinyurl.com/tj8smmes
Crowdstrike Healthcare: Many hospitals—including some of the largest in Europe and the US—were forced to cancel all elective operations, routine appointments, and walk-ins, and online portals for most UK general practitioners went down.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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42,500. That’s how many people died in car accidents in 2022, which experts believe was exacerbated during the Covid-19 pandemic, as reckless driving worsened and traffic enforcement decreased. (KFF)
“These attacks and breaches of data can literally mean the difference between life and death for patients, significantly impact hospital operations, and—with the average hack costing millions to address—increase healthcare prices across the board.”—Sen. Angus King about a bill he co-sponsored to improve cybersecurity in healthcare (Healthcare Dive)
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
It’s common for patients to delay or skip medical care due to high costs in the US—but data shows that fewer adults have done so in recent years.
CITE: https://tinyurl.com/tj8smmes
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By Staff Reporters [1 hours ago]
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People woke up to technological chaos this Friday morning as Microsoft suffered a massive, ongoing global IT outage, which is hitting airports, airlines, banks and broadcasters around the world. The problem appears to be with Microsoft 365 services and apps, which many companies and organizations rely on as part of their critical internet infrastructure. Perhaps most concerning of all, many states across the US have reported that their emergency 911 lines are down.
Microsoft said on X that it was aware of an issue impacting people’s ability to access 365 services late on Thursday. The latest update was issued around 4 a.m. ET/1 a.m. PT, when it said, “multiple services are continuing to see improvements in availability as our mitigation actions progress.” The company didn’t immediately respond to request for further comment.
According to CNET, the outage, which also took down the London Stock Exchange, has been linked to a faulty update from cybersecurity company CrowdStrike. The company handles the security of many Windows PCs and services around the world. The last time there was an internet outage this widespread was when a service called Fastly went down in 2021. It’s a reminder of how much of the internet is underpinned by shared infrastructure, which leaves it vulnerable to widespread issues such as this.
Nevertheless, this Medical Executive-Post remains strong; so far.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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The S&P 500 and NASDAQ both continued to sink under the weight of a tech selloff today, with semiconductors leading the way down. But even the Dow and Russell 2000, which have been the clear winners of the recent rally, took a beating today as investors assessed what a market rotation really means for them. 10-year Treasury yields bounced from recent lows as investors try to read between the lines of a full week of Fedspeak. Gold and oil both sold off a bit more today, though both remain near recent highs.
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
CITE: https://tinyurl.com/tj8smmes
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as MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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The Dow surged another 240 points as the cyclical rotation continues, sending the index to its 22nd record closing high of the year. The S&P 500 had its worst day since late April, while the NASDAQ slumped to its worst finish since December 2022. The last time the Dow rose on the same day the S&P 500 fell by more than 1% was all the way back in 1999. Gold hit a record high yesterday on hopes of a rate cut, not a hike. Oil bubbled up thanks to an Energy Information Administration report highlighting higher demand and lower crude inventories. Bond yields stayed steady throughout the trading session before sinking slightly 20-year Treasury bond auction.
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
UnitedHealth Group has bounced back in the second quarter, reaffirming its guidance for the year as it posts a profit of $4.2 billion.
An audit of Aetna Health of Texas found significant errors in how the health plan calculated the qualifying payment amount for air ambulance services, raising more questions over broader noncompliance in the industry for the No Surprises Act.
And … clinical decision software company Regard pocketed $61 million in series B funding to scale its reach in healthcare as investors have a growing appetite for AI-powered startups.
CITE: https://tinyurl.com/tj8smmes
A study published in JAMA this month found that nearly 7% of the US population (or roughly 18 million people) have had long Covid. Symptoms of the condition vary widely, but often include fatigue, brain fog, and post-exertional malaise (meaning symptoms worsen after minimal exertion), according to the CDC. Booster shots may help protect against long Covid, the JAMA study suggested.
And, President Joe Biden tested positive for COVID-19 while campaigning in Las Vegas with ‘mild symptoms’.
Physician burnout is on the decline after spiking to unprecedented levels during the Covid-19 pandemic, according to a survey from professional group the American Medical Association (AMA).
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Filed under: "Ask-an-Advisor", "Doctors Only", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: Aetna Health, AMA, Biden, CBOE, covid, DJIA, gold, JAMA, Marcinko, NASDAQ, oil, Physician burnout, S&P 500, textbooks, TNX, United Health, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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Apple released public beta versions of the newest software for iPhone, Mac, iPad, and Apple Watch. Macy’s ended talks of a buyout with investment firms Arkhouse Management and Brigade Capital Management after months of wrangling. Goldman Sachs was the latest big bank to benefit from rebounding investment banking fees as deals start making a comeback.
CITE: https://www.r2library.com/Resource
Despite such challenges as high interest rates, a sluggish M&A market, and increased regulatory scrutiny, bank executives are feeling optimistic about the road ahead. That’s according to KPMG’s 2024 US Banking Industry Outlook Survey, published last month, which polled 200 senior executives at US banks of varying sizes in March 2024.
Here’s where the major benchmarks ended:
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By Staff Reporters
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Jerome Powell said the Fed won’t wait for 2% inflation to cut rates
The central bank won’t wait to hit its inflation target before bringing interest rates down but wants to have “greater confidence” that inflation will get there in order to make cuts, Powell said at the Economic Club of Washington, DC, in his first public event since June’s cooling inflation numbers came out.
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MEDICAL INFLATION: https://medicalexecutivepost.com/2023/03/30/medical-economics-healthcare-inflation/
However, the FOMC chair wasn’t willing to get into specifics about when rate cuts might be coming.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Though the accountant shortage is still a concern, a shortage of AI and tech skills might be a more pressing issue right now. That’s according to a pulse survey by consulting firm RGP and YouGov, which polled 213 US financial professionals at the director level and above this June.
Read: What do you do when you hit your insurance deductible? Some people throw parties. (the New York Times)
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
The Federal Trade Commission (FTC) frequently sets its sights on healthcare, which has previously included efforts to crack down on data privacy and ban noncompetes in contracts. Lately, the agency has turned its attention to pharmacy benefit managers (PBMs)—the groups that negotiate drug prices between insurers and pharmaceutical manufacturers—to shed light on how they impact the healthcare industry.
CITE: https://tinyurl.com/tj8smmes
Stat: 23.5%. That’s how much Covid-related emergency room visits increased in a week at the beginning of this month. (CDC)
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Americans are traveling in record numbers this summer, but Delta Air Lines said Thursday that it saw second-quarter profit drop 29% due to higher costs and discounting of base-level fares across the industry. The airline is also predicting a lower profit than Wall Street expects for the third quarter.
CITE: https://www.r2library.com/Resource
Dramatic photos from the aftermath of the Trump shooting.
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Alphabet is close to acquiring cybersecurity startup Wiz, according to the Wall Street Journal. The $23 billion purchase price would be the largest in the company’s history.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Good Sunday Morning
A brief note on yesterday’s shocking events at the Donald J. Trump Rally.
A shooting at a Pennsylvania rally in Butler County for former President Trump has officially been deemed an assassination attempt, the FBI confirmed. Trump said he was shot in the ear but is “fine,” according to a spokesperson, while the alleged gunman and one rally attendee are dead.
Moreover, Texas Rep. Ronny Jackson, who was former President Donald Trump‘s White House doctor, revealed that his nephew was ‘grazed in the neck’ by a bullet at the Butler, Pennsylvania rally.
Authorities identified the gunman as a 20-year-old man from Bethel Park, a town about an hour’s drive from the site of the shooting. Leaders in the US and around the world offered their support to Trump and condemned political violence as the Secret Service faces questions about the security failure.
Therefore, we will re-post related articles on workplace violence, prisons, mental health and psychological turmoil etc; addressing our core but non-political topics. Unite and stay strong. Thank You!
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Filed under: Breaking News, Ethics, Marcinko Associates, mental health | Tagged: assassination attempt, Bethel Park, Butler County, DJT, Donald Trump, FBi, Marcinko, secret service, Trump Rally | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Here’s where the major stock market benchmarks ended:
CITE: https://www.r2library.com/Resource
Here’s a list of some corporate earnings announcements next week:
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A federal judge on Friday sentenced former Georgia Insurance Commissioner John Oxendine to serve three and a half years in prison after Oxendine pleaded guilty to healthcare fraud. U.S. District Judge Steve Jones, at a hearing in Atlanta, also ordered Oxendine to pay a $25,000 fine and to share in $760,000 in restitution with Dr. Jeffrey Gallups.
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Filed under: "Ask-an-Advisor", Breaking News, Experts Invited, Financial Planning, Health Economics, Health Insurance, Investing, Recommended Books, Sponsors | Tagged: CBOE, corporate earnings, DJIA, DOW, earnings week, Health Insurance, health insurance fraud, insurance fraud, Jeffrey Gallups, John Oxendine, Marcinko, NASDAQ, opioids, S&P 500, SPX, textbooks, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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As drugs like Wegovy and Zepbound that help people slim down have enlarged its competitors’ bottom lines, Pfizer has struggled to keep up. But now it’s moving forward with the development of a once-daily version.
Here’s where the major benchmarks ended:
CITE: https://www.r2library.com/Resource
According to the Wall Street Journal, Microsoft abandoned its post as an observer on the board after realizing it was bothering antitrust officials who were looking into the relationship between the two companies. Apple, which was expected to take a similar seat on the OpenAI board, will reportedly no longer do s
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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A day before the June CPI report, major indexes extended their rally amid growing demand for semiconductors and rate cut hopes.
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The Centers for Medicare & Medicaid Services (CMS) announced in June it would recalculate 2024 Medicare Advantage (MA) star ratings for all plans after two court rulings called into question the agency’s method for determining this year’s ratings. The decision is estimated to cost the federal agency roughly $1 billion in additional bonus payments for insurers, according to healthcare analytics firm Cotiviti. The move comes after several large insurers laid off employees in late 2023 after their star ratings decreased.
HIPAA: Some groups are disputing a proposed federal rule that would require hospitals to report cybersecurity incidents, saying they want it to also include insurers and third-party vendors. (Healthcare Dive)
CITE: https://www.r2library.com/Resource
Tesla’s US electric car market share fell below 50% in Q2 for the first time, according to estimates by the research firm Cox Automotive.
CITE: https://tinyurl.com/tj8smmes
In a scathing report, the Federal Trade Commission accused [PBMs] pharmacy benefit managers—the companies that act as go-betweens for drug makers and consumers—of jacking up drug prices
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Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: bonds, CBOE, cybersecurity, DJIA, gold, healthcare fraud, HIPAA, IT, Marcinko, Medicare Advantage, NASDAQ, opioids, Part C, PBMs, S&P 500, Tesla, textbooks, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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A Partner of the Institute of Medical Business Advisors , Inc.
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Most medical students at Johns Hopkins University won’t have to pay tuition anymore thanks to a $1 billion gift from Michael Bloomberg.
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
OpenAI’s venture fund and Arianna Huffington’s Thrive Global are jointly funding a new startup that aims to build an AI health coach to promote healthier lifestyles.
Function Health, a health tech company focused on preventive medicine, recently closed a series A round led by Andreessen Horowitz (a16z) Bio + Health along with a slew of celebrity investors.
And … made possible by the American Rescue Plan, the Biden administration is putting $27.5 million toward women’s behavioral health.
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Filed under: "Ask-an-Advisor", "Doctors Only", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: Andreessen Horowitz, Bloomberg, CBOE, DJIA, function health, Huffington, JHU, Johns Hopkins, Marcinko, medical fraud, NASDAQ, openAI, opioids, S&P 500, SPX, textbooks, thrive global, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Here’s where the major benchmarks ended:
The CBOE Volatility Index® (VIX) climbed slightly to 12.37.
The S&P 500 index®(SPX) rose 5.66points (0.1%) to 5,572.85; the Dow Jones Industrial Average® ($DJI) dropped 31.08 points (0.1%) to 39,344.79; the NASDAQ Composite® ($COMP) gained 50.98 points (0.3%) to 18,403.74.
The 10-year Treasury note yield (TNX) was roughly flat at 4.27%.
CITE: https://www.r2library.com/Resource
Stat: 27. That’s a tally of some of the hospital mergers, acquisitions, joint ventures, affiliations, and partnerships that have been canceled since January 2022. (Becker’s Hospital Review)
Read: Health insurers received $50 billion from Medicare for diseases that doctors did not treat over three years, according to a recent analysis. (Wall Street Journal)
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Wall Street is counting down the hours until Friday, which is when Q2 earnings season kicks off. Investors are hoping anyone besides Big Tech will post impressive results to keep the rally going. Although the stock market has set record after record this year, it’s mostly been the work of tech giants. As of Tuesday, about 40% of S&P 500 companies were in the red for 2024.
CITE: https://www.r2library.com/Resource
Federal Reserve Chair Jerome Powell will give updates on the economy to Congress on Tuesday and Wednesday, where he’ll likely be asked about the prospect of interest rate cuts. Those plans could become clearer on Thursday, when the consumer price index inflation report drops.
Meta’s Twitter clone, Threads, has 175 million monthly users one year after its launch, CEO Mark Zuckerberg said.
CITE: https://tinyurl.com/tj8smmes
Boeing will plead guilty to a criminal fraud charge stemming from two fatal crashes of 737 Max planes and pay an additional $243.6 million fine, allowing it to avoid a criminal trial sought by victims’ families. More here.
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Bad things can happen in paperless practices, Doc
By Darrell Pruitt DDS
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“Illinois Hospital First To Shut Down Completely After Ransomware Attack”
-By Karl Bode for Techdirt, Jun 16th 2023.
“Such attacks can have a chain reaction on already broken hospitals and health care systems. Health care workers are sometimes forced to resort to pen and paper for patient charts and prescriptions, increasing the risk of potentially fatal error. Delays in care can also prove fatal. And ransomware is only one of the problems that plague dated medical IT systems whose repair is being made increasingly costly and difficult by medical health care system manufacturers keen on monopolizing repair.”
Remember the MCNA (Managed Care of North America) data breach that was reported by Bill Toulas in Bleeping Computer on May 29th? There have been new developments.
“Patients of a Florida-based dental insurance provider brought a proposed class action lawsuit alleging negligence over a ransomware data breach that leaked the private information of more than 8.9 million people on the dark web, saying they face a lifetime risk of having their identities stolen.”
–David Minsky for Law 360
[June 16th, 2023]
If you are still using paper records, don’t change now.
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Filed under: Breaking News, Career Development, Drugs and Pharma, Ethics, Experts Invited, Health Insurance, Information Technology, Investing | Tagged: bankruptcy, Darrell Pruitt, DDS, EHRs, electronic health records, electronic medical. records, EMRs, health information technology, HIT, RansomWare | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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As home hospital programs continue to grow—employment in the home health industry is projected to increase by nearly 30% by 2029—so does the concern that home healthcare professionals are increasingly vulnerable to assault and harassment.
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
Stat: 9.9%. That’s the current vacancy rate for nurses in the US, down from 15.7% in 2023. (2024 NSI National Health Care Retention & RN Staffing Report)
PBMs: How pharmacy benefit managers are “driving up drug costs for millions of people, employers, and the government.” (the New York Times)
CITE: https://tinyurl.com/tj8smmes
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Filed under: "Ask-an-Advisor", "Doctors Only", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: CBOE, DJIA, home health, home hospital, Marcinko, NASDAQ, PBMs, S&P 500, textbooks, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Wednesday’s stock market trading was brief but sweet—the S&P 500 and NASDAQ closed at records in a half-day session. The stock market was closed yesterday for the Fourth of July, but will reopen today with all eyes on the June jobs report to be released this morning. It’s expected to show more cooling in the labor market, which would reinforce the FOMC is likely plan to cut interest rates this fall.
CITE: https://tinyurl.com/2h47urt5
A federal court temporarily paused a ban on noncompetes from taking effect in September, ruling that the FTC overstepped its authority in April when it ordered a halt to the clauses affecting 30 million Americans. The ban on noncompetes was intended to allow workers like doctors and nurses to move jobs more easily and boost wages in the process, but businesses opposed it on the grounds that competitors could poach their employees and they’d lose valuable trade secrets.
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Filed under: Breaking News, Ethics, Financial Planning, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books | Tagged: CBOE, DJIA, FOMC, Marcinko, NASDAQ, non-compete clauses, S&P 500, textbooks, TNX, VIX, WSJ | Leave a comment »
US ECONOMY
By Staff Reporters
The Labor Department just reported that the U.S. added 206,000 jobs last month, slightly beating expectations. But the unemployment rate ticked up to 4.1%, a sign of slack in a labor market that has been remarkably strong even in the face of high interest rates.
There were other signs as well that the job market continues to cool. Average hourly earnings were up 3.9% in June from a year earlier, marking their smallest gain since 2021. The jobs counts for both April and May were revised lower. The labor force participation rate, the share of working-age people who were employed or seeking work, ticked up—an indication that more people are entering the labor market.
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Filed under: "Ask-an-Advisor", Breaking News, Career Development | Tagged: FOMC, inflation, interest rates, IRS, Labor Department, US economy, US jobs | Leave a comment »
TOPICS PREVIOUSLY DISCUSSED ON THIS ME-P NOW REALITY IN 2024
By Staff Reporters
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This will increase the penalties for assault on healthcare workers while on the job. It also allows hospitals to create their own police forces.
Physicians and healthcare workers will now be required to test all pregnant women for HIV and syphilis at the first prenatal visit.
This authorizes qualified pharmacy technicians to administer certain vaccines, such as COVID-19.
This will authorize the Department of Public Health to conduct a pilot program that will provide visits to at-risk and under served rural communities during pregnancy and early childhood.
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HB591 – The bill relates to mental health and it authorizes marriage and family therapists to perform certain acts that physicians and psychologists are authorized to perform regarding emergency exams for involuntary evaluation and treatment for mental illness, alcohol or drug abuse.
HB548 – The bill provides reasonable access to records concerning reports of child abuse to the Administrative Office of the Courts.
HB128 – This bill enacts Gracie’s Law, which prohibits providers from discriminating against potential organ transplant recipients due to physical or mental disabilities.
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Filed under: "Doctors Only", Breaking News, Career Development, Health Law & Policy | Tagged: health laws, healthcare laws, new georgia health care laws, new georgia health laws | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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| Daily Update Provided By Staff Reporters Since 2007. How May We Serve You? |
| © Copyright Institute of Medical Business Advisors, Inc. All rights reserved. 2024 |
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HAPPY JULY FOURTH
The S&P 500 broke above 5,500 yesterday and stayed there for the first time in market history, notching yet another all-time high for the index—its 32nd this year alone. With so much bullishness it’s understandable that investors may be wondering if we’re at the top yet, but chartists suggests gains tend to beget gains. The bulls have too much momentum to stop now—and if/when the FOMC cuts rates later this year, it seems likely that we’ll see more all-time highs in 2024? Any thoughts.
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The Biden administration has awarded $206.3 million of funding to clinician training programs across 42 universities and provider organizations to bolster the nation’s geriatrics care workforce. Programs will be able to integrate geriatrics training into primary care and will work to educate older adults’ families on their care needs. Health and Human Services, in its announcement, noted that primary care providers are a crucial source of care for much of the aging population.
As Walmart shutters its primary care clinics, the retail giant inked a deal to sell its MeMD telehealth business to health tech startup Fabric. Fabric provides a telemedicine platform for a range of customers, including provider groups, with the goal of improving the clinician and patient experience, as well as operational efficiency. The acquisition will expand its provider network, add virtual behavioral health to the company’s services and build on Fabric’s employer and payer solutions.
And…The U.S. Supreme Court has overturned the Chevron deference, stripping power from federal agencies to interpret and enforce regulations. Courts no longer have to defer to reasonable agency interpretations. One healthcare attorney told Fierce Healthcare he predicts the Centers for Medicare & Medicaid Services will be under a microscope from the courts going forward, and there will be more scrutiny towards provider reimbursement cuts, drug pricing regulation and the Inflation Reduction Act.
Here’s where the major benchmarks ended:
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Filed under: "Ask-an-Advisor", "Doctors Only", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: bulls, CBOE, chartists, Chevron, DJIA, FOMC, geriatrics, healthcare fraud, HHS, Inflation Reduction Act, IRA, Marcinko, medical fraud, MeMD, NASDAQ, opioids, S&P 500, SPX, teleHealth, telemedicine, textbooks, TNX, VIX, Walmart, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
http://www.MedicalBusinessAdvisors.com
SPONSORED BY: Marcinko & Associates, Inc.
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http://www.MarcinkoAssociates.com
| Daily Update Provided By Staff Reporters Since 2007. How May We Serve You? |
| © Copyright Institute of Medical Business Advisors, Inc. All rights reserved. 2024 |
REFER A COLLEAGUE: MarcinkoAdvisors@msn.com
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SCOTUS: Two technology company cases involving Texas and Florida laws challenging social-media companies’ content moderation were sent to lower courts. SCOTUS thus effectively granted the companies a victory. The Supreme Court isn’t willing to blow up the internet just yet.
CITE: https://www.r2library.com/Resource
PitchBook released its analysis of digital health venture capital deals done in the first quarter. The first quarter saw downturns in telehealth and digital therapeutics, but opportunities exist in mental health chatbots and care search platforms.
Amedisys, a large home health provider, plans to divest a number of care centers to an affiliate of VitalCaring Group in advance of its planned merger with UnitedHealth Group later this year.
And … ACOs may soon be able to take a breath of fresh air, as CMS shared that it has no intention of punishing them for a $2 billion urinary catheter fraud scandal that rocked the industry.
Here’s where the major benchmarks ended:
SCOTUS: Health policy leaders say patients, providers, and health systems should brace for more uncertainty and less stability in the healthcare system. Even routine government functions such as deciding the rate to pay doctors for treating Medicare beneficiaries could become embroiled in long legal battles that disrupt patient care or strain providers to adapt.
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Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: CBOE, DJIA, healthcare fraud, medical fraud, msrcinko, NASDAQ, opioids, pitch book, S&P 500, SCOTUS, textbooks, Tim Wentworth, TNX, VIX, WSJ | Leave a comment »
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