AM I NEXT? NO LOVE AT HEALTHCARE PARTNERS

Bingham Farms, Michigan-based Health Partners, a provider of healthcare services and specializing in rehabilitation home care programs and private home care solutions, has announced that it is withdrawing from its healthcare business, immediately impacting 560 employees including nurses, nursing assistants, therapists and direct care workers.

The decision was driven by a 2019 Michigan's auto no-fault fee schedule which caps Health Partners' reimbursement rates at 55- percent of what it customarily bills insurance companies to care for injured motorists. And the loss of the company's line of credit following the bank's review of reduced revenues.

Michigan's new fee schedule also set caps for most hospitals, physicians and other specialists at 200 percent of what Medicare pays them.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT FRANCISCAN HEALTH

Mishawaka, Indians-based Franciscan Health, a regional healthcare sysytem and owner/operator of 14 hospitals, has announced that it is continuing with its plans to reconfigure their Franciscan Health Hammond Hospital and “will be closing certain departments and making other reductions in staff.” Approximately 83 employees will be impacted by the reconfiguration of the existing hospital located in Hammond, Indiana, commencing in late August 2021.

According to a hospital spokesperson, "After extensive studies of our facilities and the Northwest Indiana market, it became clear that we needed to resize Franciscan Health Hammond for continued viability. We will remain in Hammond, but it would be impossible to remain here as we currently are. The changes we are making in Hammond fit into our regionally-based plan for care. They also reflect the growing trends in the healthcare industry, which de-emphasize inpatient beds in favor of increased preventative care, along with virtual care, allowing patients to be treated in the comfort of their homes.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? IS THE HANDWRITING ON THE WALL AT CENTENE CORPORATION?

St. Louis, Missouri-based Centene Corporation, a multi-line managed care enterprise that serves as a major intermediary for both government-sponsored and privately insured health care programs, has announced major legal settlements involving irregularities in the company's disclosure and billing practices. The settlements may directly impact the company's finances and possibly lead to another reduction in force.

According to a statement filed with the Securities and Exchange Commission...

"On June 14, 2021, Centene Corporation announced that it has reached no-fault agreements with the Attorneys General of Ohio and Mississippi to resolve claims made by the states related to services provided by Envolve Pharmacy Solutions, Inc. (“Envolve”), the Company’s pharmacy benefits manager subsidiary.

Under the terms of these agreements, Centene will pay $88 million to Ohio and $55 million to Mississippi. The practices described in the settlement focused on the structure and processes of Envolve primarily during 2017 and 2018. In the settlements, the Company denies any liability for these practices.

As a result of the settlement, the Ohio Attorney General’s litigation against the Company will be dismissed.

Additionally, the Company announced it is in discussions with a plaintiff’s group led by the law firms of Liston & Deas and Cohen & Milstein in an effort to bring final resolution to these concerns in other affected states. Consistent with those discussions, Centene has recorded a reserve estimate of $1.1 billion related to this issue, exclusive of the above settlements."

In February 2021, the company reported a fourth-quarter loss of $12 million and noted plans to eliminate 3,000 workers and 1,500 open positions to resolve the overlap in functions and positions with Phoenix, Arizona-based Magellan Health, acquired in January 2021 for $2.2 billion.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?