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CVS earnings: Pharmacy giant cautions on future outlook
CVS beat on both earnings and revenue in its second quarter, but cautioned on its future outlook. CEO Karen Lynch told investors during an earnings call that Oak Street Health and Signify Health, both of which were acquired in May, have seen a boost in business. CVS is also using its pharmacy business, insurance business (formerly Aetna) and Signified patient visits as an opportunity to guide more business to Oak Street.
CVS Health stock rises as judge completes Aetna deal review | AP News CVS Health Corp. stock was up nearly 2%, or $1.18, to $62.85 shortly before markets opened Thursday. A federal judge finally completed his review of the company's roughly $69 billion acquisition of the health insurer Aetna.
Aetna deal begins to pay off for CVS | AP News CVS Health completed a roughly $69-billion acquisition of the insurer Aetna last November, adding coverage for nearly 23 million people. That deal helped CVS health bring in $1.94 billion in net income after booking a loss in last year’s quarter due to a big charge from its long-term care business.
Don't let petty politics kill the city's retiree health-care savings Despite bogus objections from city Comptroller Brad Lander, City Hall registered the contract with Aetna to run a Medicare Advantage plan. The plan will enroll 250,000 retired city workers and their dependents as of September. The projected savings help fund the latest round of municipal labor contracts.
With no room to raise taxes, where will Adams find the money for his pricey union deals? Mayor Eric Adams registered the new contract last week with healthcare provider Aetna to start administering the less-generous Medicare contract in the fall. The state constitution doesn't guarantee any retiree health care.
Marching to Medicare Advantage: Despite litigation, new health care plan gets closer The Adams administration is considering the Medicare Advantage contract with Aetna. A new, pending lawsuit by retirees seeking to have the plan thrown out. It’s not clear when the waves of litigation might stop.
Your costs for Covid tests and treatments may rise after the public health emergency ends The emergency declaration guaranteed widespread access to free Covid-related health services starting in January 2020. But once it ends, people with employer-based private health insurance could start paying for at-home Covid tests as well as rapid or lab tests at a doctor's office or clinic. Several large insurance companies — including UnitedHealthcare, Cigna and Aetna — have said their coverage of at- home tests, which cost about $11 on average, will end on Thursday. In California, however, residents will have continued access to. free tests, vaccines and treatments given by licensed health care providers through Nov. 11. The U.S. government is distributing free tests from the national stockpile through the end of the month.
InnovationRx: The FDA OKs The First RSV Vaccine; Microsoft’s AI Play For Doctors The CDC estimates RSV leads to around 60,000 to 120,000 hospitalizations each year. CVS Health reported more than $2 billion in quarterly profits buoyed by 1.1 million new Aetna health plan members. Eli Lilly is pushing for fast-track approval for its diabetes drug Mounjaro.
CVS Health’s Sales Rise 11%; Oak Street Health, Signify Health Acquisitions Close CVS Health posted an 11% rise in sales during the first quarter as it closed its biggest acquisitions since its nearly $70 billion merger with Aetna in 2018. The healthcare company on March 29 completed the nearly $8 billion acquisition of Signify Health.
CVS beats Q1 expectations, cuts forecast after buying spree CVS Health said Tuesday that it completed a roughly $10.6 billion acquisition of primary care provider Oak Health. The company also closed an approximately $8 billion deal to buy home health care provider Signify Health in March. CVS operates one of the nation’s largest drugstore chains with nearly 10,000 retail locations. It also provides health insurance for more than 24 million people through its Aetna arm.
Two Chairs Expands Virtual, In-Person Mental Health Care to Florida Two Chairs now reaches 18 million adults residing in Florida with its individual and group therapy services. Aetna-covered Floridians can access Two Chairs in-network, with more health plan coverage options coming soon. In May, the company will open an in-person clinic in Miami to augment virtual care option. behavioral care innovator is actively hiring state-wide for therapists interested in practicing at the top of their license.
Two Chairs Announces In-Network Status with Aetna, Expanding Access To Behavioral Health Care Two Chairs is a modern behavioral healthcare company on a mission to build a world where everyone has access to exceptional mental healthcare. Aetna commercial members now have in-network access to Two Chairs' individual and group therapy services where offered, including California, Washington and (coming soon) Florida.
AOC bashes Mayor Eric Adams' overhaul of Medicare for 250K retired workers AOC’s shot at City Hall over a concerning issue for seniors could be a test of the waters for a Senate run against Democrat incumbent Kirsten Gillibrand. The mayor defended the switch to Aetna-run Medicare Advantage as a win for the city and its retirees.
City retirees hold last-ditch protest of Medicare plan Aetna will cover about 250,000 municipal retirees and their dependents with a Medicare Advantage plan. Opponents of Gov. Kathy Hochul's key proposal to amend the state’s bail laws continued to protest its inclusion in the final budget. Rep. Dan Goldman railed against recent efforts by House Republicans to force Manhattan District Attorney Alvin Bragg to give them information about Donald Trump.
Mayor Adams signs controversial contract that eliminates traditional Medicare for retired NYC workers The contract with private health insurance giant Aetna is the culmination of a years-long effort. The courts found that penalty violated a local law requiring the city to provide its retirees with premium-free coverage for life.
Oscar Health names former Aetna head Mark Bertolini as CEO Mark Bertolini, who sold Aetna to CVS Health Corp in 2018 for $69 billion, will replace Mario Schlosser as the CEO of Oscar Health next month. Oscar Health also runs a telehealth platform to help patients schedule physician visits.
Oscar Health announces ex-Aetna CEO to take over in April Oscar was founded in 2012 by Mario Schlosser and Joshua Kushner. CEO Mark Bertolini was previously CEO of Aetna, before selling it to CVS in 2018 for $70 billion.
InnovationRx: Amazon Takes On Healthcare Worker Burnout Walgreens Boots Alliance quarterly profits fell more than 20% to $703 million. CVS Health completed its $8 billion acquisition of Signify Health. Oscar Health has tapped former Aetna executive Mark Bertolini as its new CEO.
Oscar Health Taps Former Aetna Executive As New CEO, Replacing Insurer’s Co-Founder Oscar Health has hired longtime former Aetna executive Mark Bertolini. Bertolini will take over as chief executive officer effective next week. Oscar co-founder Mario Schlosser will transition to President of Technology. Oscar lost more than $600 million last year despite record health plan enrollment.
Oklahoma attorney general, national task force work to stop robocalls Oklahoma Attorney General Gentner Drummond's office is working alongside a national task force to stop unwanted robocalls. Aetna donates over $145,000 to support programs for ‘survivors of abuse’
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