In brief: Change Healthcare breach, Option Care results, Masimo collaboration

MINNEAPOLIS, Minn. – Change Healthcare, a revenue cycle management company, has experienced a cyberattack, it stated on its website. 

“Once we became aware of the outside threat, in the interest of protecting our partners and patients, we took immediate action to disconnect our systems to prevent further impact. At this time, we believe the issue is specific to Change Healthcare and all other systems across UnitedHealth Group are operational.” 

UnitedHealth Group merged with Change with Optum in 2022, despite opposition from the Department of Justice., which claimed the deal would harm competition in commercial health insurance markets and technology markets.  

In an SEC filing this week, UnitedHealth Group addressed the breach and stated that the company “immediately” isolated the impacted systems from other connecting systems, and said the company was working to resume normal operations, but unable to estimate the length of the disruption. 

Change Healthcare is an independent health care technology company providing health care analytics, software, services and data to health care providers, health insurers and other software and services firms in the health care industry. Its revenues were $3.4 billion in 2021. 

UnitedHealth Group’s subsidiaries include UnitedHealthcare, the largest health insurer in the United States. United’s revenues were $288 billion in 2021.  

Option Care delivers ‘strong results’ 

BANNOCKBURN, Ill. – Option Care Health reported revenue of $1.12 billion for the fourth quarter of 2023, an increase of 9.5% compared to the same quarter in 2022. 

Revenue for the full year was $4.3 billion, up 9.1% compared to 2022. Gross profit for the quarter was $247.1 million and adjusted EBITDA was $111.6 million. 

“The Option Care Health team delivered strong financial results in the fourth quarter and full year of 2023 and continued to execute on our commitment to clinical excellence by providing extraordinary patient care through our resilient national platform,” said CEO John Rademacher. “The patient is at the center of everything we do, and I am excited to build on this momentum in 2024 to further our mission to provide innovative services that improve outcomes, reduce costs, and deliver hope for patients and families.” 

For the full year 2024, Option Care Health expects to deliver the following financial results: 

• Net revenue of $4.6 billion to $4.8 billion 
• Adjusted EBITDA of $425 million to $450 million 
• Cash flow from operations of at least $300 million. 

Kramer to receive 2024 Lynn Giglione Women in Leadership Award 

ALEXANDRIA, Va. – The National Home Infusion Foundation has named Nancy Kramer as the recipient of the 2024 Lynn Giglione Women in Leadership Award. 

Kramer, vice president, clinical services at Optum Infusion Pharmacy, has more than 30 years’ experience in home infusion nursing, clinical leadership, staff education and development, cross-disciplinary collaboration, and patient-centered care. 

“Nancy is a true servant leader with a deep sense of empathy and way of working alongside her team that inspires them to do their best work,” said David Franklin, NHIF board chair. “This award was designed to celebrate that very spirit.” 

Kramer has had a significant impact on the industry. For nine years, she was the National Home Infusion Service’s VP of clinical affairs, overseeing the development of top-notch educational resources for members and representing the industry in dialogue with related professional organizations, accrediting bodies, and policymakers.  

Among other accomplishments, she led the formation of the NHIA Industry-Wide Data Initiative. 

The Lynn Giglione Women in Leadership Award, established in 2015, recognizes and honors trail-blazing and emerging women leaders who have demonstrated exemplary service to patients and their peers while promoting the mission of NHIF. 

“Lynn Giglione served as the first woman and nurse to Chair the NHIA Board of Directors, and I had the good fortune of working closely with her in my early years at NHIA,” said Kramer. “I count Lynn among the influential mentors who supported my professional development, and I’m humbled and honored to receive this award in her memory.” 

Kramer will receive the award at NHIA’s 2024 Annual Conference during the General Session, being held Tuesday, March 26. 

Insulet’s Omnipod fuels growth 

ACTON, Mass. – Insulet reported full year 2023 revenues $1.7 billion, up 30% compared to 2022. Fourth quarter 2023 revenue was $509.8 million, up nearly 38%. Total Omnipod revenue was $501 million; of that, US Omnipod revenue was $394.6 million, an increase of nearly 43%. “2023 was another transformational year for Insulet,” said Jim Hollinghsead, president & CEO. “The rapid adoption of Omnipod 5 helped fuel our eighth consecutive year of more than 20% constant currency revenue growth. Our team’s outstanding execution and relentless pursuit of innovation further solidify our position as the category leader, strengthen our competitive moats and enable us to deliver our groundbreaking innovation to even more people. We entered 2024 with powerful momentum and are well-positioned for continued profitable growth and value creation as we simplify life for the millions of people with diabetes around the world.” Omnipod received FDA clearance for its Omnipod 5 App for iPhone in October.  

AAH updates supplier numbers 

WASHINGTON – AAHomecare’s quarterly supplier number tracking sheet is now available with January 2024 data. AAHomecare monitors the DMEPOS industry by reviewing the list of Medicare enrolled suppliers. The updated tracking sheet continues to show a slight decline from last quarter’s update. The association now estimates there are currently 8,005 traditional Medicare DMEPOS locations across the country. The data shows a 38% decrease in traditional DME supplier locations since 2013. State-specific results and a "heat-map" of supplier locations nationwide can be found here. 

United Spinal urges recognition of International Wheelchair Day 

WASHINGTON – United Spinal Association is inviting champions of disability inclusion to share its International Wheelchair Day blog on their social media platforms to highlight International Wheelchair Day, March 1. The blog offers reflections from wheelchair users on the impact of their mobility devices on their independence, freedom, and quality of life. United Spinal advocates for and provides resources to people with SCI/D.  
 

Royal Philips proposes board members 

AMSTERDAM – Royal Philips has proposed re-appointing Chairman Feike Sijbesma and Peter Löscher as members of the supervisory board and to appoint Benoît Ribadeau-Dumas as new member of the supervisory board to the Annual General Meeting of Shareholders (AGM), which will be held May 7, 2024. Sijbesma has been a member of the supervisory board since 2020 and chairman of the supervisory board since May 2021. He is also the chairman of the corporate governance and nomination & selection committee, and member of the remuneration committee. Löscher has been a member of the supervisory board since 2020. In the past four years, he has been a member of the audit committee and the quality & regulatory committee. In August, Philips and Exor N.V. entered into a relationship agreement, as a result of which Exor bought a 15% shareholding in the company to support Philips’ plan to create value with sustainable impact. The relationship agreement includes Exor’s commitment to be a long-term shareholder and its right to propose one member to the supervisory board. Ribadeau-Dumas has been managing director at Exor since 2022. “We look forward to have Mr. Ribadeau-Dumas join Philips’ Supervisory Board,” said Feike Sijbesma, chairman of the supervisory board of Royal Philips. “Benoît is a recognized business leader. His extensive track record across multiple, high-tech industries, and his current focus within Exor on healthcare will bring valued contributions to the Supervisory Board and further support Philips’ value creation strategy and purpose to improve the health and well-being of people.”  
Masimo, UCHealth to collaborate on patient care 

IRVINE, Calif. – Masimo, a provider of medical technology solutions, and UCHealth, a Colorado-based network of hospitals, clinics and providers, have entered into an agreement to impve the standard of patient care using the latest in virtual care and telehealth capabilities. “We are grateful for the opportunity to collaborate with world-class organizations like UCHealth,” said Joe Kiani, founder and CEO of Masimo. “By combining our technological expertise and their clinical expertise, together we can foster a new generation of healthcare solutions that improve the lives of patients and clinicians alike – ultimately advancing the forefront of care.” With an emphasis on advancing technology-enabled care, including virtual and remote care, the collaboration is designed to leverage the unique capabilities of both organizations and pursue their mutual goals of improving patient outcomes, reducing the cost of care, and transforming models of care delivery across the continuum, both in and outside the hospital. “UCHealth is committed to driving medical advances through clinical innovation, pioneering research and world-class education,” said Richard Zane, MD, chief innovation officer at UCHealth and chair of emergency medicine at the University of Colorado School of Medicine. “Our commitment aligns with Masimo’s vision for achieving tomorrow’s outcomes and helping institutions like ours improve the ways we monitor physiological status across more care areas than ever before, and extend high-quality care beyond the hospital and into the home by harnessing the power of data science and sensors.”