News Digest August 2022
A curation of news stories impacting health insurance and brokers, population health management and health tech from last month.
Welcome back after the summer holiday to this longer than usual headlines selection, which assumes readers were less attentive in August.
Within IPMI, we have two largely positive reports about the industry. Also the first half results announcements from AXA, Allianz, BUPA, Vitality and the larger health reinsurers, evidence a generally positive top line within health, especially personal lines, although this has also been a tough bottom line period, particularly for reinsurers.
Digital solutions are clearly here to stay but show big variance in value. As the rubber hits the road with more global economic shocks, one question is to what extent will firms continue to value – and fund – wellness in the workplace. News of the meditation app Calm, once the darling of the stock market, laying off 20% of its staff might indicate problems ahead. Then again, Cigna’s health services segment, Evernorth, cites unprecedented levels of need and has doubled its behavioural health network over recent years. Behaviour Health Business reports that venture investment is in decline but suggests mental health start-ups may thrive as mental health care tends to increase in a recession.
Amazon again made the headlines as it announced the shutdown of its telehealth services, Amazon Care, hot on the heels of merging its business with One Medical as we reported last month. Speculation is rife as reports come in of a bidding war as Amazon guns for Signify Health reportedly against UHG, Option Care Health and CVC with a valuation topping a possible $8bn.