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Monday, February 27, 2023

Feds promise to trim backlog of health care investigations

 Federal officials said Monday they’re working to cut down on a growing backlog of complaints lodged against health care providers, insurers or government agencies by patients who claim their civil rights or privacy have been violated.

Americans filed more than 51,000 complaints against health agencies last year, a number that has grown tremendously — 69% — over the last five years, the federal Health and Human Services agency announced. Some complaints can take years to investigate.

About two-thirds of the cases involve potential violations of health information privacy and security, a problem that has worsened in recent years because of data breaches and cybersecurity hacks, the agency said. In 2021, more than 700 large breaches of health information were reported. Health insurer Anthem, for example, was forced to pay the government a record $16 million fine in 2018 after a data breach affecting about 79 million people — including names, birthdates, Social Security numbers and medical IDs.

Health care workers and patients can file federal complaints against providers, insurers, and government agencies when they think patients are being discriminated against or protected health information has been shared, a violation of a longstanding law known as HIPAA, or the Health Insurance Portability and Accountability Act. HHS’ Office of Civil Rights is responsible for investigating those complaints.

The office will reorganize in an effort to more quickly investigate such complaints, the agency said Monday.

The office will keep a dedicated division to investigate HIPAA complaints, with a focus on the growing segment of cybersecurity breaches. It will also have three new different divisions with staff that focus on each of the following: policy, strategic planning, and enforcement.

“This structure will enable OCR staff to leverage its deep expertise and skills to ensure that we are protecting individuals under the range of federal laws that we are tasked with enforcing,” HHS Office of Civil Rights Director Melanie Fontes Rainer said in a statement.

https://apnews.com/article/politics-health-civil-rights-privacy-89e31a9518728327889b426671ef2a46

Hims and Hers stock rallies after Q4 beat, subscriber data

 Shares of Hims & Hers Health Inc. (HIMS) rose more than 9% in the after-hours session Monday after the telehealth company reported narrower fourth-quarter results and revenue that was above expectation. Hims and Hers lost $10.9 million, or 5 cents a share, in the quarter, compared with a loss of $31.2 million, or 15 cents a share, for the fourth quarter of 2021. Fourth-quarter revenue nearly doubled to $167.2 million as the number of subscribers topped 1 million, the company said. FactSet consensus called for a loss of 6 cents a share on sales of $161 million. The company guided for first-quarter revenue between $175 million and $180 million, and a full-year 2023 revenue between $735 million and $755 million. These are also above consensus. The stock ended the regular trading day down 1.2%.

https://www.morningstar.com/news/marketwatch/20230227370/hims-and-hers-stock-rallies-after-q4-beat-subscriber-data

Paul calls for declassifying documents showing that COVID came from Chinese lab

 Sen. Rand Paul (R-Ky.), the ranking member of the Senate Homeland Security Committee, says the Biden administration should declassify classified documents showing that scientists at the Department of Energy believe COVID-19 leaked from a lab in Wuhan, China.  

“Classified documents leaked (they should be declassified!) showing scientists at DOE believe COVID leaked from Wuhan Lab,” Paul tweeted on Monday, circulating a Wall Street Journal story published over the weekend reporting the Energy Department has concluded the COVID-19 pandemic likely came from a lab leak.  

The Journal reported the Energy Department concluded the pandemic arouse from a mishap at a Chinese lab based on new intelligence. It matches the FBI’s conclusion from a 2021 analysis that the pandemic originated from a lab leak. The Energy Department study reportedly offered the conclusion with low confidence.

The U.S. intelligence community is split on the conclusion that the deadly virus leaked from a Chinese lab. Four other federal agencies believe that it likely jumped to humans from an animal host outside a lab. Those findings are also reportedly made with low confidence.

The CIA hasn’t made a judgment on whether the virus sprung from a lab or naturally from another animal host.

Paul is not the only U.S. senator pushing to see the intelligence and make it public.

Sen. Josh Hawley (R-Mo.) said on Sunday that he will introduce legislation to declassify intelligence findings about the likely origin of the COVID-19 pandemic, which has resulted in more than 1 million deaths in the United States, according to the Centers for Disease Control and Prevention.  

“The American people deserve the full truth about #COVID origins. No more whitewash. I will again introduce legislation to make the U.S. government’s intelligence reports on COVID more open to the public,” Hawley tweeted. 

The Journal reported that the Department of Energy and the FBI concluded that the pandemic started from a lab leak for different reasons. The CIA hasn’t made a judgment on whether the virus sprung from a lab or naturally from another animal host.  

Wuhan, which is located about 500 miles west of Shanghai, is home to the Wuhan Institute of Virology and the Wuhan Institute of Biological Products.  

Chinese authorities in 2021 refused to cooperate with a World Health Organization effort to study the possibility that COVID-19 leaked from a lab.  

Zeng Yixin, the vice minister of China’s National Health Commission, has dismissed the possibility that COVID-19 originated in a Chinese lab.

https://thehill.com/homenews/senate/3875634-paul-calls-for-declassifying-documents-showing-that-covid-came-from-chinese-lab/

Fetterman ‘on a path to recovery,’ aides say

 Sen. John Fetterman (D-Pa.) is “doing well” and “remains on a path to recovery” according to his office on Monday, following the freshman lawmaker’s decision to check himself into the hospital earlier this month to seek treatment for clinical depression.

“We don’t have a lot to update folks with since there’s no real news to report except that John is doing well, working with the wonderful doctors, and remains on a path to recovery,” communications director Joe Calvello said in a statement. “He is visiting with staff and family daily, and his staff are keeping him updated on Senate business and news.”

Fetterman, the former lieutenant governor of Pennsylvania, checked himself into Walter Reed National Military Medical Center earlier this month to seek treatment for depression, which his office said had become more severe in recent weeks. The hospitalization came after the lawmaker had already faced questions over his health in his 2022 campaign, following a stroke in May.

“We understand the intense interest in John’s status and especially appreciate the flood of well-wishes,” Calvello said. “However, as we have said this will be a weeks-long process and while we will be sure to keep folks updated as it progresses, this is all there is to give by way of an update.”

Gisele Barreto Fetterman, the senator’s wife, said on Twitter last week that she took her kids to Canada after media trucks circled their home. 

John Fetterman

Vice President Kamala Harris, right, participates in a ceremonial swearing-in of Sen. John Fetterman, D-Pa., left, with his wife Gisele Barreto Fetterman, in the Old Senate Chamber on Capitol Hill in Washington, Tuesday, Jan. 3, 2023. (AP Photo/Jacquelyn Martin)

“I am not really sure how to navigate this journey but am figuring it out slowly,” Barreto Fetterman said in the post. “1 week ago today when the news dropped, the kids were off from school and media trucks circled our home. I did the first thing I could think of … pack them in the car and drive.”

The announcement that Fetterman was seeking treatment was met with an outpouring of support from both Republicans and Democrats, including the White House.

Fetterman’s victory in Pennsylvania was crucial to Democrats maintaining their slim majority in the Senate. His aides said they are moving forward with the work of his office.

“Our team is moving full speed ahead and working tirelessly for the people of Pennsylvania,” Calvello said. “Just last week we opened a new office in Erie and will be opening several more offices in the coming weeks.”

https://thehill.com/homenews/senate/3876154-fetterman-doing-well-on-a-path-to-recovery-aides-say/

Universal Health beats, guides below views

Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $174.8 million, or $2.43 per diluted share, during the fourth quarter of 2022, as compared to $239.1 million, or $3.00 per diluted share, during the fourth quarter of 2021. Net revenues increased by 5.2% to $3.447 billion during the fourth quarter of 2022, as compared to $3.275 billion during the fourth quarter of 2021. 

2023 Operating Results Forecast:

Reflected below is our 2023 guidance range for consolidated net revenues, earnings before interest, taxes, depreciation & amortization, and the impacts of other income/expense and net income attributable to noncontrolling interests ("Adjusted EBITDA net of NCI"), adjusted net income attributable to UHS per diluted share ("Adjusted EPS-diluted") and capital expenditures. 

Adjusted EPS-diluted and Adjusted EBITDA net of NCI, are non-GAAP financial measures and should be examined in connection with net income determined in accordance with GAAP as presented in the consolidated financial statements and notes thereto in this report or in our filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2022. Please see the Supplemental Non-GAAP Disclosures - 2023 Operating Results Forecast schedule as included herein for additional information and a reconciliation to the financial forecasts as computed in accordance with GAAP. 


For the Year Ended
December 31, 2023


       Low

       High

Net revenues

$14.044 billion

$14.314 billion

Adjusted EBITDA net of NCI

$1.662 billion

$1.753 billion 

Adjusted EPS-diluted

$9.50 per share

$10.50 per share

Capital expenditures

$725 million

$875 million

Our 2023 guidance contains a number of assumptions including, but not limited to, the following:

  • The 2023 forecasted amounts exclude the impact of future items, if applicable, that are nonrecurring or non-operational in nature including items such as pre-tax unrealized gains/losses resulting from changes in the market value of shares of certain equity securities, and other potential material items including, but not limited to, reserves for various matters including settlements, legal judgments and lawsuits, potential impacts of non-ordinary course acquisitions, divestitures, joint ventures or other strategic transactions, costs related to extinguishment of debt, gains/losses on sales of assets and businesses, impairment of long-lived and intangible assets, other amounts that may be reflected in the current financial statements that relate to prior periods, and the impact of share repurchases that differ from our forecasted assumptions. It is also subject to certain conditions including those as set forth below in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.
  • Our net revenues are estimated to be approximately $14.044 billion to $14.314 billion representing an increase of approximately 4.8% to 6.8% over our 2022 net revenues of approximately $13.399 billion.
  • Our Adjusted EBITDA net of NCI is estimated to be approximately $1.662 billion to $1.753 billion, as compared to our 2022 Adjusted EBITDA net of NCI of $1.662 billion.
  • Our projected interest expense during 2023 is estimated to increase by approximately $71 million, or 56%, over the interest expense incurred during 2022. The increase is due primarily to increases in our projected average cost of borrowings, and aggregate average borrowings outstanding, pursuant to our revolving credit and tranche A term loan facilities.
  • Our Adjusted EPS-diluted range is estimated to be $9.50 per diluted share to $10.50 per diluted share, as compared to our adjusted net income attributable to UHS of $9.88 per diluted share for the year ended December 31, 2022, as calculated on the attached Supplemental Schedule.

Conference call information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on February 28, 2023.  A live webcast of the call will be available on our website at www.uhs.com. To participate via telephone, please register in advance by accessing this link

Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the call will be available for one full year following the live call.

https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-2022-fourth-quarter-and-full-year-financial-results-and-2023-full-year-earnings-guidance-301757094.html

Poland reports outbreaks of African swine fever in wild boar

 Poland has reported outbreaks of African swine fever (ASF) in five wild boar in the northern part of the country, the World Organisation for Animal Health (WOAH) said on Monday citing Polish authorities.

The deadly hog disease has been spreading in eastern Europe with outbreaks found in the Czech Republic, Hungary, Latvia, Moldova, North Macedonia and Romania, WOAH said in a separate report on the disease.

In total, since January 2021 ASF has been reported as present in 41 countries, affecting more than 828,000 pigs and more than 23,000 wild boar with more than 1 million animal losses, WOAH said.

https://sports.yahoo.com/poland-reports-outbreaks-african-swine-172857325.html

Supreme Court snuffs company challenge to Los Angeles flavored-tobacco ban

 The U.S. Supreme Court on Monday declined to hear a challenge to Los Angeles County's ban on sales of flavored tobacco products brought by R.J. Reynolds Tobacco Company, which had argued that only the federal government - not state or local governments - has the legal authority to regulate tobacco products.

The justices turned away the North Carolina-based tobacco company's appeal of a lower court's decision to uphold the ban, which includes products such as menthol cigarettes and vape juice, that took effect in 2020. R.J. Reynolds is part of British American Tobacco.

The Supreme Court in December allowed a California statewide ban on flavored tobacco products, also challenged by R.J. Reynolds, to go into effect. Gavin Newsom, the Democratic governor of the most-populous U.S. state, signed that ban - a policy response to concerns about a rise in e-cigarette and tobacco use by teens - into law in 2020 and it was upheld by voters in a 2022 ballot initiative.

California became the second state to ban all flavored tobacco product sales, after Massachusetts in 2019. Several other states have restricted flavored vaping products, and several municipalities have adopted their own bans.

Then-Los Angeles Mayor Eric Garcetti, a Democrat, signed the local ban last June, a move hailed by medical groups including the American Lung Association, which called it a "tremendous step in public health."

Flavored tobacco products, especially e-cigarettes, have come under scrutiny in recent years as critics have said they appeal to youth. The U.S. Food and Drug Administration last year sought to pull all of leading e-cigarette maker Juul Labs Inc's products off the market, though that decision is on hold while the company challenges it.

A three-judge panel of the San Francisco-based 9th U.S. Circuit Court of Appeals last year upheld the Los Angeles ban on a 2-1 vote. The panel found that the industry was misreading the 2009 law that gave the FDA sole authority to develop and enforce "tobacco product standards," noting that this means the agency has exclusive power to regulate the production and marketing of tobacco products, but not retail sales.