DAILY UPDATE: Medicare Part C and CON Laws as Stocks Drift Higher

Posted on August 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Read: Georgia’s bipartisan effort to amend its “certificate of need” system to bring back shuttered rural hospitals. (KFF Health News)

CITE: https://www.r2library.com/Resource

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 63.97 points (1.15%) to 5,634.61, up 1.5% on the week; the Dow Jones Industrial Average® ($DJI) added 462.30 points (1.14%) to 41,175.08, up 1.3% for the week; the NASDAQ Composite®($COMP) advanced 258.43 points (1.47%) to 17,877.79, up 1.4% for the week.
  • The 10-year Treasury note yield (TNX) fell nearly six basis points to just under 3.81%.
  • The CBOE Volatility Index® (VIX) dropped sharply to 15.79, the lowest close since Monday.

CITE: https://tinyurl.com/2h47urt5

As Medicare Advantage (MA) enrollment grows, hospitals are breaking up with MA [Part C] insurance plans. Becker’s Healthcare reported that, so far in 2024, at least 17 systems ended a contract with an MA insurer.

CITE: https://tinyurl.com/tj8smmes

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PHYSICIAN LAYOFFS: Job Eliminations Across 66 Hospitals

Posted on July 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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A report published by Becker’s Hospital Review highlights a large number of job elimination efforts that have been announced or already implemented across 66 hospitals, including the following:

  • As an organizational redesign measure, Oklahoma University (OU) Health has eliminated around 100 positions.
  • 200 healthcare jobs were cut by Oklahoma City-based Integris Health to curb expenses.
  • ProMedica in Toledo, Ohio, announced plans to lay off 262 employees in March.
  • 337 employees of New York City-based Memorial Sloan Kettering Cancer Center are likely to be laid off shortly.
  • 112 employees of Pikeville Medical Center in Kentucky were laid-off at the end of 2022.
  • Desert Springs Hospital Medical Center in Las Vegas has already notified its workers that 970 jobs will be lost as it transitions to an emergency department.
  • California-based Kaweah Health in Visalia is likely to eliminate 94 positions.

These healthcare worker layoffs only reveal a part of the crisis because the complete closure of numerous hospitals is also on the horizon.

While the closure rate is faster for rural hospitals, urban hospitals are not safe either. In November 2022, Atlanta Medical Center (AMC) in Atlanta Georgia, announced its closure, leaving hundreds of workers jobless. This closure also had a severe adverse impact on the availability of trauma care in Atlanta. In 2019, the city council in Washington D.C. voted in favor of closing United Medical Center prior to COVID, leaving a healthcare gap during the pandemic.

CITE: https://www.r2library.com/Resource

NOTE: The current trend of hospital closures and healthcare job cuts not only affects the healthcare workers and their families but also poses serious questions about the quality of healthcare in the country. Last year, McKinsey & Company predicted that by the end of 2025, the US healthcare system may face a shortage of up to 450,000 registered nurses [RNs].

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PODCASTS: Digital Health + Health I.T.

Posted on January 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Becker’s Hospital Review

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LISTEN: https://www.beckerspodcasts.com/health-it-digital-health-podcast

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ORDER: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko

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ORDER: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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