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Morning Briefing

Summaries of health policy coverage from major news organizations

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Tuesday, Feb 7 2023

Full Issue

Private Equity Had Strong Year In Health Care Despite 2022 'Headwinds'

Modern Healthcare reports that there was a roughly 15% bump in private equity health care services deals in 2022 over 2021. Separately, CVS is said to be near a $10.5 billion deal to acquire Oak Street Health Inc. Staff shortages, data breaches, and quality of care matters are among other news.

Private equity firms had one of their strongest years yet for healthcare services deal activity in 2022, according to an analysis PitchBook published Monday. An estimated 863 healthcare services private equity deals were announced or closed last year. That's a nearly 15% decrease from 2021, but a more than 18% increase from 2020, the market research firm reported. PitchBook extrapolated the annual estimate using recorded deals through the third quarter and historical data to approximate fourth quarter transactions. (Hudson, 2/6)

CVS Health Corp. is close to an agreement to acquire Oak Street Health Inc. for about $10.5 billion including debt, a deal that would rapidly expand the big healthcare company鈥檚 footprint of primary-care doctors with a large network of senior-focused clinics, according to people with knowledge of the matter. (Mathews, Thomas and Cooper, 2/6)

On staff shortages 鈥

Last year, the turnover rate for full-time emergency medical technicians, known as EMTs, was 36% and for full-time paramedics, it was 27%, according to an American Ambulance Association survey. The turnover rate includes both resignations and firings, but nearly all of the EMTs and paramedics who left did so voluntarily. More than one-third of new hires don鈥檛 last through their first year, the survey found. (Mercer, 2/6)

The Maryland Hospital Association and the state鈥檚 60 hospitals and health systems launched a digital marketing campaign Monday to encourage students and others seeking new opportunities to join the health care field. The campaign, slugged as JoinMdHealth, includes outreach on social media, as well as a website that lists open health care jobs across the state, education requirements for certain hospital jobs, and advice on how to afford higher education. (Roberts, 2/7)

The coming end of the COVID-19 public health emergency and pandemic-era telehealth flexibilities could rattle an already besieged behavioral health system and force providers to make ethical decisions.聽The public health emergency, which President Biden will end May 11, allowed clinicians to prescribe controlled substance medications via telehealth without an office visit. (Perna and Turner, 2/6)

On data breaches 鈥

A major regional hospital system based in northern Florida resumed seeing patients at its clinical practices on Monday, days after a security problem forced it to take its IT network offline. But Tallahassee Memorial Healthcare was still being forced to use paper documentation, and non-emergency surgeries and out-patient procedures were canceled on Monday. (2/6)

Three recent data breaches from across the United States show that the risks of data breaches can come from multiple sources for healthcare providers. Employees, third-party vendor tools and cybercriminals all create data breach risks. (Berry, 2/6)

On quality of care 鈥

State regulators have discovered a slew of violations at Santa Clara County鈥檚 main hospital in San Jose, according to documents obtained by the Bay Area News Group. The deficiencies, identified in an October survey of Santa Clara Valley Medical Center, puts the hospital at risk of losing its ability to receive Medicare reimbursements, which would leave the facility in a financially perilous position. (Greschler, 2/6)

A Florida nursing home administrator charged with causing the overheating deaths of nine patients after Hurricane Irma in 2017 went on trial Monday, with a prosecutor calling him a 鈥渃aptain who abandoned ship鈥 while his attorney said he鈥檚 a 鈥渟capegoat鈥 for failures of the electric company to restore power. Prosecutor Chris Killoran told the six-member jury that Jorge Carballo is guilty of manslaughter because he failed to give adequate direction to his staff at the Rehabilitation Center at Hollywood Hills after power to the facility鈥檚 air conditioning system was lost. He said Carballo went home even as it became 鈥渞idiculously hot鈥 inside the 150-bed, two-story facility and failed to order his patients鈥 evacuation to Memorial Regional Hospital across the street, which had working air conditioning. (Spencer, 2/6)

In late summer 2021, Sue came home from work to find her 24-year-old son Michael confused. He shrugged in response to most questions and muttered words that didn鈥檛 make much sense. Sue knew something was wrong because this wasn鈥檛 the first time this had happened. Michael was involved in the Eagle program at Atrium Health, an outpatient project designed to support young people in Charlotte after an initial psychotic episode. Sue called the Eagle program nurse, and they suggested that Michael go to the hospital before his symptoms got worse. (Knopf, 2/7)

An 82-year-old woman who鈥檇 been pronounced dead at nursing home on Long Island, New York, was found to be alive nearly three hours later at a funeral home, authorities said, spurring investigations by police and health officials. (Frehse, 2/7)

The widow of a Winterport composer has filed a wrongful death lawsuit against Northern Light Eastern Maine Medical Center in Bangor claiming that Ralph 鈥淩uss鈥 Joseph Lombardi died in 2021 when he was given medication intended for another patient. The medication, cisatracurium, paralyzes the skeletal muscles, including those in the diaphragm that are necessary for spontaneous breathing, the complaint said. (Harrison, 2/6)

In obituaries 鈥

Charles Silverstein, a psychologist who helped achieve one of the most significant victories of the gay rights movement by persuading the American Psychiatric Association in 1973 to declassify homosexuality as a mental illness, died Jan. 30 at his home in New York City. He was 87. He had lung cancer, said his executor, Aron Berlinger. (Langer, 2/7)

This is part of the Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
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