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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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MAY FIRST DAY

May Day is a European festival of ancient origins marking the beginning of summer, usually celebrated on 1 May, around halfway between the Northern Hemisphere’s Spring equinox and June solstice. Festivities may also be held the night before, known as May Eve. Traditions often include gathering wildflowers and green branches, weaving floral garlands, crowning a May Queen and setting up a Maypole, May Tree or May Bush, around which people dance. Bonfires are also part of the festival in some regions.

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Here’s where the major benchmarks ended:

• The S&P 500 index fell 80.48 points (1.6%) to 5,035.69; the Dow Jones Industrial Average^® ($DJI) lost 570.17 points (1.5%) to 37,815.92, down 5% for the month; the NASDAQ Composite declined 325.26 points (2.0%) to 15,657.82.
• The 10-year Treasury note yield jumped more than 7 basis points to 4.682%.
• The CBOE Volatility Index^® (VIX) rose 0.98 to 15.65.

Energy shares were among the weakest performers Tuesday, behind a drop in WTI Crude Oil (/CL) futures, which fell a third consecutive session and briefly dropped under $81 per barrel. The Philadelphia Oil Service Index (OSX) tumbled 4.5% to a seven-week low. The small-cap Russell 2000^® Index (RUT) shed 2.1% and ended with a loss of 7.1% for the month.

But, it was a better day for Mounjaro maker Eli Lilly, which climbed nearly 6% after its popular weight loss drugs pushed it to raise its 2024 forecast.

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

Lumeris Health, a health tech company supporting value-based care operations, raised $100 million in a new funding round to support expansion.

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

A class-action complaint was filed against MultiPlan and major payers like UnitedHealth Group and CVS Health’s Aetna, arguing payers’ claims data was being used to generate low reimbursement rates.

CITE: https://tinyurl.com/tj8smmes

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Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Information Technology, Investing | Tagged: Aetna, CBOE, CVs, DJIA, Eli Lilly, Fierce Health, Lumeris, Marcinko, May Day, Maypole, Mounjaro, MultiPlan, NASDAQ, S&P 500, textbooks, UnitedHealth Group, value based care, VBC, VIX | Leave a comment »