![]() It ended 2022 with a net loss of $32.81 million and laid off 16% of staff last September. But the likely reason for the CEO change is that the company is still unprofitable. Even though GoodRx is not a HIPAA-covered entity and they ended the practice in 2019, they settled with the FTC for $1.5 million. The FTC used the Health Breach Notification Rule, created in 2009, to GoodRx in a Federal court with misuse of consumer health information. In February, GoodRx was the first ‘victim’ of the newly aggressive Federal Trade Commission policies on Meta Pixel and other ad trackers collecting user health-related data and sharing for revenue with Facebook, Google, Criteo, and other advertising sites. Wagner was formerly CEO of GoDaddy and is a board member of other digital and advertising businesses. Current co-CEOs and founders Doug Hirsch and Trevor Bezdek will be stepping down but staying with the company as chief mission officer and chairman respectively. GoodRx names Scott Wagner as interim chief executive officer. Healthcare Dive, FierceHealthcare, Kaiser/Geisinger/Risant release However, this current administration and state regulators have not favored health system mergers, which has seemingly been anticipated by Kaiser in forming the Risant Health organization. In 2020, it ended its effort to expand into southern New Jersey via a merger with AtlantiCare. Geisinger has been squeezed in Pennsylvania by UPMC and Penn Medicine along with other community systems. Kaiser has a tightly integrated health plan and service model that is location-dependent. Both have had operating losses and net losses in recent years and difficulty expanding out of their geographic areas. On the face of it, this seems to be a novel solution to both health systems’ challenges. The health systems will retain their names and operational areas. Reportedly, Kaiser will spend $5 billion and acquire five to six health systems over the next five years. The benefit to Geisinger joining Risant is that as the lead system, it will help to shape their operational model. ![]() Geisinger was also a pioneer in incorporating telehealth and remote patient monitoring into its healthcare system. Geisinger Health is Pennsylvania-based, has 10 hospital campuses, its own health plan that covers more than 500,000 members, and the Geisinger College of Health Sciences with schools of medicine, nursing, and graduate education. ![]() It operates in eight states (California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, and Washington) and the District of Columbia. ![]() Kaiser Permanente is a giant integrated care system with 12.6 million members based in California. Risant’s purpose will be to advance value-based care by acquiring and connecting other multi-payer, multi-provider, community-based health systems in areas such as care model design, pharmacy, consumer digital engagement, health plan product development, and purchasing. Its current president, Jaewon Ryu, MD, JD, will become CEO when the acquisition closes. Geisinger will be the founding system of Risant Health, a non-profit that will be headquartered in the Washington, D.C. Acquisition costs and a timetable for the transaction were not disclosed and will be subject to the usual state and Federal regulatory review and requirements. Technically, the acquisition is being made by Risant Health, a separate non-profit organization founded by the Kaiser Foundation Hospitals that will acquire other non-profit community health systems. Today’s big news was that Kaiser Permanente will be acquiring Geisinger Health. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |