Here are five key takeaways:
1. Officials say the megamergers would reduce competition, and consumers would bear the burden of the deals — escalated prices. U.S. Attorney General Lorette Lynch said, “We will not hesitate to intervene. We will not shy away from complex cases. We will protect the interests of the American people.”
2. Officials claim Aetna’s acquisition of Humana would harm nearly 1.6 million Medicare Advantage customers in 364 countries. Earlier this month, Aetna spoke to antitrust officials about plans to sell billion-dollar assets to squash regulatory concerns. However, officials still filed the suit and cited concerns about the merger’s impact on individual plans.
3. In its suit against Anthem’s Cigna acquisition, officials claimed the merger would stifle completion in a market that is already undergoing major consolidation, which is negatively impacting customers, physicians and hospitals.
4. The suits also cite concerns about the mergers’ impact on businesses, local markets, contracts with physicians and individual exchanges.
5. So far, 11 states and Washington, D.C., have supported the DOJ’s suit against Anthem and Cigna. Additionally, eight states and Washington, D.C., joined the suit filed against Aetna and Humana.
More articles on coding & billing:
GOP chairman rejects Trump’s Medicare negotiating drug prices proposal: 4 notes
There were winning & losing payers in the 1st year of ACA: 6 things to know
US insurers pay nearly $8k more for TKR than other developed countries: 5 findings
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.