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| Presented By UnitedHealth Group |
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| Axios Vitals |
| By Tina Reed ·Aug 30, 2021 |
| 😙 Good morning, Vitals readers. Today's newsletter is 789 words, or a 3-minute read. What to watch: The CDC's Advisory Committee on Immunization Practices meets today and plans to discuss a framework for COVID-19 boosters. - Also, U.S. Judge Robert Drain anticipates ruling on Purdue Pharma's reorganization plan on Wednesday, Reuters reports.
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| 1 big thing: Health care is as profitable as ever ... |
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| Illustration: Shoshana Gordon/Axios |
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| For much of the health care industry, 2021 has been a boom year so far, Axios' Bob Herman reports. What's happening: Hospitals, drug companies, health insurers, medical device manufacturers and other health care suppliers generated record sales and profits during the second quarter, an Axios analysis of financial statements shows. The big picture: Health care spending soared as Americans got vaccinated and resumed seeing their doctors between April and June. - Hospitals, nursing homes and other providers received billions of federal bailout dollars, most of which were paid out last year, to offset the decline in patient volumes.
- Health insurers collected large piles of cash because they had fewer medical claims to pay.
- Pharmaceutical companies saw some sales dip, but pharmacy prescriptions and infusions have picked back up.
What we're seeing now: The industry maintained a 9% profit margin on much higher revenues compared with the second quarter of 2020. The bottom line: The fortunes that health care companies continue to amass during the pandemic further insulates them from bigger reforms, just like Big Tech. Go deeper. |
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| 2. ... But the rest of the year could be rough |
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| Illustration: Lazaro Gamio/Axios |
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| The financial forecast for hospitals in the second half of this year is looking decidedly stormier thanks to the Delta variant, according to a new report from Fitch Ratings. What they're saying: "The way the year was supposed to shape up was the vaccines were going to lead us into a 'back to normal' period," Kevin Holloran, Fitch's sector leader for not-for-profit health care told Axios. - "And then, this Delta variant just snuck up on us," he said.
What's happening: With hospitalizations quickly rising and ICUs filling due to COVID cases, expenses are up as demand for staff outpaces supply requiring hospitals to pay overtime or bring in pricier travel nurses. - The burn rate for supplies needed to treat COVID patients is also high at a time when supply costs are surging.
- At the same time, elective surgeries and other care — which help bring in revenue — are being postponed.
- "We're staring down the barrel of last year's impact without the expectation of any stimulus dollars coming," Holloran said.
Yes, but: Many hospitals still have strong balance sheets due to market returns and federal bailout money that will give them some cushion to ride this out. Share this story. |
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| 3. Gottlieb: Kids' vaccines may come in November |
| COVID vaccines for kids younger than 12 could be approved as soon as November if everything goes according to plan, former FDA commissioner and Pfizer board member Scott Gottlieb said Sunday on CBS' "Face the Nation." - Pfizer previously said it will likely file data with the FDA in September regarding kids 5 to 11 years old. That puts it on track to file an application in October.
- "That puts you on a timeline that it could be available, authorized at some point in November, late November, maybe early December," Gottlieb said. "You could start rolling out these vaccinations before the end of the year."
- The vaccine data regarding kids ages 2 through 5 will be available in November, Gottlieb said.
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| A message from UnitedHealth Group |
| Advancing health equity by addressing social determinants of health |
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UnitedHealth Group is committed to addressing social barriers that influence disparities in health care access, outcomes and affordability. We have helped: - Create 12,000 homes by investing $550 million in affordable housing since 2011.
- Distribute 70 million meals in 2020.
Learn more. |
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| 3. Theranos trial to begin |
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| Illustration: Aïda Amer/Axios |
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| Jury selection begins tomorrow for the trial against Elizabeth Holmes, the disgraced founder and former CEO of blood-testing startup Theranos, Axios' Kia Kokalitcheva writes. - This case has been years in the making. So, in case, the details are a little fuzzy, Kia pulled together a helpful cheat sheet.
The bottom line: Theranos is the biggest fraud to have ever come out of Silicon Valley, dwarfing other tales of malfeasance. It not only took investors for hundreds of millions of dollars, but it also put thousands of people's health at risk. |
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| 4. Unvaccinated teacher linked to outbreak |
| An unvaccinated teacher spread COVID-19 to about half of her class, including the majority of students sitting in the front of the class, Axios' Marisa Fernandez writes. Why it matters: The CDC case study of the outbreak in a California school — in which about 50% of the students got infected — highlights the challenge of sending unvaccinated children back to in-person instruction. Details: The teacher was one of only two school staff members at the school who were not vaccinated. The teacher reported having symptoms on May 19, but continued to work for two days before receiving a test. - Of the 12 positive students within the classroom, six were symptomatic.
- About 80% of the students sitting in the first two rows of the class, and everyone sitting in the front row, became infected.
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| 5. While you were weekending |
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| Illustration: Aïda Amer/Axios |
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- Baxter International is in advanced talks to buy medical-equipment maker Hill-Rom Holdings for around $10 billion. (Wall Street Journal)
- The Biden administration is "sticking with" its recommendation for a third dose of the coronavirus vaccine eight months after receiving the original shots, NIAID's Anthony Fauci said Sunday. (Axios)
- Louisiana hospitals already packed with COVID patients face Hurricane Ida (Associated Press)
- The latest shortage to hit hospitals? Oxygen supplies. (CNN)
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| A message from UnitedHealth Group |
| Expanding access to care in underserved communities |
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| UnitedHealth Group is helping to address social determinants of health for uninsured individuals and underserved communities. See how we're advancing health equity through community partnerships that have helped more than 6 million people access care, nutritious food and stable housing. |
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