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Physician-owned group to pay $8.75M to settle 401(k) excessive fee suit
Emeryville, Calif.-based, physician-owned Vituity has agreed to pay $8.75 million to settle a class action lawsuit alleging mismanagement of its 401(k) plan, including excessive fees and imprudent investments, according to court documents accessed by Becker’s. What happened? What’s next?
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Medicare ASCs continue to boom
The number of ASCs treating Medicare beneficiaries continued to rise in 2023, with an increasing volume of procedures and spending, according to the latest report from the Medicare Payment Advisory Commission. Here are five key facts to know: 1. The total number of Medicare-certified ASCs increased by 2.5% in 2023, reaching 6,308 facilities. This growth […]
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Nurse practitioner pleads guilty to healthcare fraud
A nurse practitioner in West Virginia has pleaded guilty to four counts of healthcare fraud, according to a March 19 news release from the Justice Department. What happened? What’s next?
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Physician group faces lawsuit following data breach
Kansas City, Mo.-based Sunflower Medical Group is facing a class-action lawsuit for allegedly failing to protect patient and employee data, resulting in a cybersecurity breach that exposed sensitive, personally identifiable information and protected health information, according to court documents accessed by Becker’s. What happened? What’s next?
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Bain Capital’s bid for Surgery Partners: What it says about PE’s ASC interest
Brentwood, Tenn.-based Surgery Partners reported a record-breaking $3.1 billion in annual revenue, while Bain Capital’s bid to take the company private underscores private equity’s continued interest in the ASC market, according to a March 17 analysis from VMG Health. Bain’s initial 2017 investment at $19 per share was one of many private equity plays that […]
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Who’s snapping up physicians? 20 deals to know
Here are 20 deals in the last two years to know involving physician practice and group acquisitions: Private equity-backed groups Amazon Optum CVS Other acquisitions to note:
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Physicians per capita in all 50 states
Massachusetts has the highest physician-to-population ratio, according to the 2023 Association of American Medical Colleges State Physician Workforce Data Report, the latest available. Here are the physicians per capital in all 50 states State Total active physicians Active physicians per 100,000 Massachusetts 32,116 466 Maryland 23,791 393.5 New York 75,749 389.4 Vermont 2,410 386.2 Rhode […]
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What’s going on with CVS Health?
CVS Health is reevaluating its role in healthcare as financial pressures mount. The company, along with other major retailers, is scaling back its healthcare ambitions in response to economic and operational challenges. In 2024, CVS reported total revenues of $173.6 billion for its health services segment, reflecting a 7.1% decline year over year. Fourth-quarter revenue […]
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USPI, HCA & Surgery Partners are shaking up their ASC strategy
As the ASC industry continues to evolve, major players are adapting their strategies to meet market demands, regulatory changes and shifting patient needs. Three of the largest ASC operators — United Surgical Partners International, HCA Healthcare and Surgery Partners — have made significant investments in expanding their networks, focusing on high-acuity procedures and navigating regulatory […]
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Colonoscopy costs in all 50 states for HOPDs vs. ASCs
Colonoscopies cost more in hospital outpatient departments than ASCs in all 50 states, according to data from insurance company Sidecar Health’s cost calculator. Here’s a breakdown of the average cash price for HOPDs and ASCs for colonoscopies per state: State Average cash price for HOPDs Average cash price for ASCs Alabama $1,502 $1,062 Alaska $2,033 […]
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