September 11, 2023
Providers | Tea Leaves
  • The Biden administration announced a $100 million investment to train more nurses and grow the workforce as the health care industry faces a critical nurse shortage. Officials with the U.S. Department of Health and Human Services (HHS) said Thursday that the investments will help address the increasing demand for registered nurses, nurse practitioners, certified nurse midwives, and nurse faculty. The funding, announced Thursday, will go toward increasing the number of nursing school faculty, supporting the career ladders for licensed practical nurses and vocational nurses to become registered nurses, and training more nurses to become primary care providers to address mental health issues, substance use disorder issues and maternal health, Carole Johnson, administrator for the Health Resources and Services Administration (HRSA) within HHS, said during a call with reporters Thursday. (Articles here and here)
  • Membership-based primary care provider Cano Health is laying off 700 employees, exiting four markets, and exploring a sale, the company said Thursday. The plans were disclosed as the company reported a second-quarter net loss of $270.7 million, or 51 cents per share, compared with a loss of $14.6 million, or 3 cents per share, in the same period last year. The company attributed the loss to lower-than-expected Medicare Risk Adjustment revenue. The company said the 700 people represent 17 percent of Cano’s workforce. Around 40 percent of the layoffs are tied to the company’s pending exit from California, New Mexico, Illinois, and Puerto Rico markets. The remaining layoffs are part of efforts to consolidate operations. (Articles here and here)
  • Drug shortages are rife across hospital and health system pharmacies, forcing most pharmacists to rely on alternatives that drive up costs and sometimes impede care, particularly regarding cancer care, according to new survey data of more than 1,100 provider pharmacy specialists. The membership poll, fielded by the American Society of Health-System Pharmacists (ASHP) this summer, found reports of drug shortages among 99 percent of respondents. Two-thirds described the issue as “moderately impactful,” while a third called it “critically impactful,” which was defined as the pharmacists needing to ration, delay or cancel treatments or procedures. Only three respondents said their organization wasn’t experiencing any drug shortages. (Article here)