MEDICARE ADVANTAGE OVERBILLS TAXPAYERS BY BILLIONS A YEAR AS FEDS STRUGGLE TO STOP IT
By Fred Schulte and Lauren Weber Health insurers that treat millions of seniors have overcharged Medicare by nearly $30 billion the past three years alone, but federal officials say they are moving ahead with long-delayed plans to recoup at least part of the money. Officials have known for years
PAYER ANALYSIS: ‘CADILLAC TAX’ ON HIGH-COST HEALTH PLANS COULD AFFECT 1 IN 5 EMPLOYERS IN 2022
[/infobox] A new KFF analysis estimates that the Affordable Care Act’s tax on high-cost health plans would affect one in five (21 percent) employers offering health benefits when it takes effect in 2022 unless employers change their health plans. An even larger share (31 percent) could be affected when workers’ voluntary
ROYAL PHILIPS SELLS U.S. HEALTHCARE headquarters
Amsterdam-based Royal Philips sold its Andover, Mass.-based healthcare headquarters to Atlantic Management Corp. May 4 in a deal worth $36 million. Royal Philips has been transferring its 1,900 employees to facilities in Cambridge, Massachusetts, and Nashville, Tennessee, since January. Atlantic Management, which paid $36 million for the facility,
ANGIODYNAMICS SELLS NAMIC fluid management portfolio
AngioDynamics Inc., a provider of innovative, minimally invasive medical devices for oncology, vascular access and peripheral vascular disease, has agreed to sell its NAMIC fluid management portfolio to Medline Industries Inc. for $167.5 million, subject to customary closing conditions including antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The

CHARING CROSS 2019: MEDTRONIC EXPANDS ON KEY AORTIC SOLUTIONS FOR CHALLENGING ANATOMIES
Medtronic plc released new data on endovascular repair of abdominal aortic aneurysm (AAA) patients with the Endurant II/IIs stent graft system in combination with Heli-FX EndoAnchor implants and for the Valiant Navion thoracic stent graft system for thoracic endovascular repair (TEVAR). The data, which was presented at the Charing Cross

ABBVIE ACQUIRING ALLERGAN AS HEDGE AGAINST EXPIRATION OF HUMIRA PATENT
As a hedge against the 2023 expiration of its U.S. patents that protect its blockbuster drug, Humira, AbbVie Inc. will acquire Dublin, Ireland-based Allergan for $63 billion in cash and stock. Humira sales account for more than 60 percent of AbbVie’s revenue, but biosimilar drugs approved in Europe
CMS ISSUES RENEWED GUIDANCE IN EFFORT TO ENSURE MEDICAID PROGRAM INTEGRITY
The Centers for Medicare & Medicaid Services (CMS) issued guidance to state Medicaid agencies June 21 that outlines the necessary assurances that states should make to ensure that program resources are reserved for those who meet eligibility requirements. This guidance follows a series of steps that CMS has taken since
VSA, PRACTICE MANAGEMENT FIRM, OBSERVES 17TH YEAR
Vein Centers of America (VSA) is celebrating its 17th anniversary by offering a complimentary phone consultation with President and CEO David Schmiege. in vein-specific practice management, marketing and revenue cycle management initiatives nationwide. “We have the experience, flexibility, structure and size to implement results quickly and to create the culture
BUTTERFLY IQ WINS CE MARK FOR IPHONE-BASED PORTABLE ULTRASOUND SYSTEM
Connecticut-based Butterfly Network, already selling in the United States, has won the CE Mark and is releasing its single-probe, hand-held, full-body Butterfly iQ portable ultrasound system in Europe. The product consists of a transducer that plugs right into an iPhone or iPad via the Lightning port, and uses a
PK PAPYRUS NOW AVAILABLE IN U.S. FOR CRISIS CORONARY PERFORATIONS
BIOTRONIK is releasing in the United States its PK Papyrus-covered coronary stent, the first new device in many years to be used as an emergency therapy for acute coronary perforations. Because so few of these are expected to be used, but are expected to save many lives, the FDA