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Sen. Elizabeth Warren urges FTC to review CVS’ Oak Street Health deal

by | Mar 24, 2023 | Health Blog | 0 comments

Sen. Elizabeth Warren (D-Mass.) is urging the Federal Commerce Fee to scrutinize CVS Well being’s planned acquisition of Medicare-focused main care supplier Oak Road Well being. 

In a letter to FTC Chair Lina Khan and Commissioners Alvaro Bedoya and Rebecca Slaughter, the progressive senator wrote the deal might decrease high quality of care and hike prices. 

She additionally pointed to different acquisitions — together with UnitedHealth Group’s buy of house well being supplier LHC Group, Walgreens’ stake in main care firm VillageMD and its take care of CareCentrix, and Amazon’s acquisition of One Medical — as a part of a push towards vertical integration, “creating a number of giant healthcare conglomerates that management all facets of sufferers’ healthcare journeys.”

CVS additionally owns insurer Aetna and pharmacy profit supervisor CVS Caremark. Final yr, the corporate announced plans to buy house well being platform Signify Well being.

Warren famous the expansion of value-based care preparations has the potential to enhance well being outcomes and minimize prices, however she added numerous healthcare firms see “a major money-making alternative,” particularly by buying main care or house well being firms that take Medicare Benefit plans. 

“Given the potential threat that vertical integration might result in larger healthcare costs and decrease high quality of care, the Federal Commerce Fee (FTC) ought to fastidiously scrutinize this deal, and others prefer it, and oppose any healthcare acquisition that might threaten competitors, improve costs and cut back high quality of care,” Warren wrote within the letter. “The FTC also needs to retrospectively evaluate comparable consummated offers and problem in court docket any mergers which have lowered competitors in violation of antitrust legal guidelines.”

CVS didn’t reply to a request for remark.

THE LARGER TREND

After weeks of rumors, CVS confirmed it had signed a $10.6 billion deal to buy Oak Road in early February. It marked one other transfer into the first care area for an enormous retailer, which has additionally seen exercise from firms like Walgreens, Walmart and Amazon.

Specialists have famous the enlargement of retail healthcare might provide sufferers extra entry to care, as main retail pharmacies have places throughout the U.S. Nevertheless it’s additionally mandatory for the businesses to build trust with patients as primary care providers and arrange better care coordination workflows

“I believe that there is a variety of positives to retail gamers when it comes to catering to shopper preferences and offering care in a extra handy manner,” Sanjula Jain, senior vp of market technique and chief analysis officer at Trilliant Well being, informed MobiHealthNews in December. “However for lots of complicated care, acute care — that each American goes to wish in some unspecified time in the future of their life — there’s a little bit extra fragmentation.”

Tracy Chu will provide extra element throughout her HIMSS23 session “Automation Improves Digital Training App Efficiency.” It’s scheduled for Wednesday, April 19 at 11:30 a.m. – 12:30 p.m. CT on the South Constructing, Degree 5, room S505.



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