U.S Govenment Announces $450M Deal With Regeneron Pharmaceuticals

U.S Govenment Announces $450M Deal With Regeneron Pharmaceuticals

The combined forces of the Biomedical Advanced Research and Development Authority (BARDA), the U.S. Department of Health and Human Services, and the Department of Defense Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense have just approved a $450M deal with Regeneron Pharmaceuticals, Inc. This $450 million contract is for Regeneron to manufacture and supply REGN-COV2. REGN-COV2 is Regeneron's investigational double-antibody cocktail for COVID-19 treatment and prevention. Regeneron is currently in Phase 2/3 of clinical trials for the...

COVID-19 Funds To Go Directly to Labs

US Congress Wants COVID-19 Funds To Go Directly to Labs

There are efforts being made by 30 US Congress members who want COVID-19 funds to go directly to labs focusing on COVID-19 testing. Already there is an act titled, Paycheck Protection Program and Health Care Enhancement Act, which invests $25 billion to further research aspects of COVID-19 testing. While this money goes to states in order to enhance their testing abilities, there have been zero federal funds reserved for the labs that have stepped up their facilities including, buying PPE...

Fraud and Malpractice in Dallas Leaves Healthcare Executive Sentenced to Time in Prison

Andrew Hillman, former co-owner of Next Health LLC in Dallas, Texas, pled guilty to defrauding the government and private insurance through a phony “wellness” program. Hillman also pled guilty to a separate physician kickback scheme in which doctors were paid to refer patients to the latently-closed Forest Park Medical Center (FPMC).  Though clinical laboratories were the fulcrum of the Next Health money laundering scheme, it involved layers of shell companies, limited liability companies (LLCs), and umbrella corporations to shield each...

2.1 Billion Genetic Testing Fraud

The Department of Justice (DOJ) charged 35 people for fraudulently selling unnecessary medical tests to thousands of elderly patients who were using Medicare. This ultimately cost Medicare 2.1 billion. Those charged worked for a variety of telemedicine and cancer genetic testing laboratories (CGx). MedTechDive reported that CMS took administrative action against CGx testing companies and providers who filed more than $1.7 billion in Medicare claims.  The HHS Office Of Inspector General put out a warning to the public back in...

A Cry For Industry Reform: $760+ Billion Dollars Wasted Annually

For every $4 spent on healthcare, it is estimated that $1 is being wasted. When put to scale, that 25% equates to a tremendous sum of $265 billion dollars annually. Spearheaded by the health insurance company Humana, these numbers shed light on how dire nationwide reform is for this industry.  As healthcare costs continue to rise, the last thing that the American people want to hear is that their dollars spent on health insurance are being wasted, but in many...

Ohio is Leading the Charge in Successful PBM Integration Through the State Medicaid Program

House and Senate leaders in Ohio are establishing a system that has the potential to offer a significant change in the state’s Medicaid program. They are leading the charge in this change by hiring a pharmacy benefit manager, also known as a PBM. The PBM was chosen by the state’s Medicaid department with the hopes of cutting out the middleman and providing a more transparent view of the state's current financial landscape in terms of drugs, pharmacies, reimbursements, and more....