Record-breaking Marketplace Enrollment
14.5M Americans signed up for health insurance during open enrollment for the Affordable Care Act Marketplace, a 21% increase from 2021 (link). Additionally, 3M people are newly insured, up 17% from last year. The American Rescue Plan (ARP) is primarily to thank for these positive numbers. Why the Increase?The ARP expanded tax credits for Marketplace…
Read MoreAkili Interactive Goes Public Via SPAC
Video game therapeutics company Akili Interactive plans to go public via SPAC in a deal valued at $1B (link). Chamath Palihapitiya, who’s no stranger to the SPAC landscape, is leading the deal through his company Social Capital. Company Profile Akili brings a new digital approach to cognitive medicine for conditions like pediatric ADHD and has the…
Read MoreWhen Your Meds Become 10x Cheaper
Mark Cuban launched an online pharmacy offering common, life-saving medications that are half the price elsewhere (link). The Mark Cuban Cost Plus Drug Company (MCCPDC)—say that 10x fast—achieves such cost savings by removing health plans and outside middlemen, known as Pharmacy Benefit Managers (PBMs). Someone had to cut them out eventually, right? Here’s How It…
Read MorePfizer Kicked Butt in 2021
Pfizer raked in $81B in revenue last year, nearly doubling its revenue from 2020 (link). You don’t have to be a mad scientist to guess what drove Pfizer’s revenue: sales from Comirnaty (Covid-19 vaccine) and Paxlovid (Covid-19 antiviral). The Deets Pfizer reached $36.8B in Comirnaty sales in 2021—a world record for any drug or vaccine.…
Read MoreMedicare Advantage’s Advantage
Medicare Advantage (MA) plans saw an 8.8% increase in enrollment this year, totaling 28.5 million MA beneficiaries. MA enrollment is growing around 10% per year and the Congressional Budget Office projects the share of MA enrollees will surpass that of Original Medicare beneficiaries by 2030. Who’s in the (MA)rket? Many incumbent insurers and startups want a piece of the $412 billion MA…
Read More2022 Digital Mental Health Funding Takes Off
Digital mental health company Lyra Health had two big wins, scoring $235M in Series F funding and acquiring global employee assistance program provider ICAS World for an undisclosed amount of money. Lyra Health seems to have some tricks up its sleeve: can you imagine what the company is trying to do? The DeetsLyra Health’s latest funding round brings its valuation to…
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