Nephrology and Dialysis Practices (cont'd)
OCTOBER 17, 2022
Proponents of CA ballot measure on dialysis clinic staffing hoping it's third time lucky
Proposition 29 would require a doctor, nurse practitioner or physician's assistant to be on site during treatment in CA's 600 dialysis facilities. This is the third consecutive election the measure is on the CA ballot, after two previous tries to get the proposition passed failed to receive anything close to majority support. As in the previous attempts, this initiative was launched by healthcare unions in the state and is opposed by private dialysis services providers such as DaVita, Fresenius and Satellite Healthcare. Past election fights were expensive, with opponents spending over $100 million per campaign to defeat the propositions. Meanwhile, the L.A. suburbs of Duarte and Inglewood are voting to raise the minimum wage for healthcare workers at dialysis clinics and other private facilities to $25 per hour
SOURCE: The Associated Press
OCTOBER 21, 2022
Opinion: Medicare payment system needs change to improve access to specialty fields
Dr. Elizabeth "Blair" Solow, Chair of the Government Affairs Committee for the American College of Rheumatology, decries the current Medicare physician payment system, claiming between 2001 and 2021, payments fell by 20%, while the costs of operating a medical practice by nearly twice that. With the Physician Fee Schedule expected to cut Medicare payments again in 2023, Solow is calling on Congress to demand CMS reform the system. She states underpayments create administrative, financial and logistical burdens on practices, especially those with a higher preponderance of patients on Medicare, such as rheumatology. Those burdens, Solow contends, could result in a withdrawal of services, particularly in smaller practices in rural or underserved communities.
SOURCE: The Hill
Nephrology and Dialysis Practices (cont'd)
SEPTEMBER 26, 2022
AKF-led coalition to suggest policies supporting fight against rare kidney ailments
The coalition, an offshoot of the American Kidney Fund's Unknown Causes of Kidney Disease Coalition project, includes researchers, interest groups and pharmaceutical companies. Its aim is to bring attention to the state of rare kidney diseases and recommend strategies to policymakers to address them. The coalition will write letters to Congress and perform other advocacy efforts.
SOURCE: American Kidney Fund
OCTOBER 19, 2022
Investment firm Elliott takes stake in Fresenius as rumors about company break-up continue
NYC-based Elliott Investment Management didn't reveal the size of its investment in Fresenius SE, however, German securities law requires disclosures when holdings reach a certain threshold. Elliott has a history of not only making purely financial transactions but of using its clout as an activist investor. Shares at Fresenius fell 40% this year, mainly due to the poor financial performance at dialysis provider Fresenius Medical Care. New CEO Michael Sen appeared to confirm insiders' belief Fresenius will hive off some of its business, calling the company's debt-financed growth strategy unsustainable.
SOURCE: Reuters
OCTOBER 12, 2022
Kidney care startups Monogram Health, Strive Health chart courses for latest funding rounds
Nashville-based Monogram Health is looking to raise around $200 million in a funding round expected to conclude in Dec. That's on top of the $172 million the kidney care company garnered through a pair of earlier funding rounds. Meanwhile, its Denver-based rival, Strive Health, is planning a new fundraising round in the next year to add to the $220 million it previously got from investors. Both startups are taking advantage of policy changes at the federal level, including the 21st Century Cares Act, which allows patients with CKD to enroll in MA plans and the executive order permitting CMMI to introduce value-based care models.
SOURCE: Modern Healthcare (sub. rec.)
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