San Francisco-based Evolent Health raises a massive $100 million series B investment round for a suite of population health and risk management tools being designed to help health systems transition from fee-for-service to ACO reimbursement models. The investment round was led by The Advisory Board Company. Advisory Board Vice Chairman of the Board Frank Williams will serve as CEO of Evolent Health.
Newly minted Siemens CEO Joe Kaeser (former Siemens CFO) announces that the company will cut 15,000 jobs in an effort to reduce overhead costs after missed profit targets led to the former CEO being dismissed. The healthcare division will be spared because it completed a restructuring last year that has served as the model for the rest of the company.
Until Congress succeeds in passing a federal spending bill, HHS will transition 52 percent of its staff to furlough. All but four of ONC’s 184 full time employees will be sent home, while those that stay on will oversee the orderly suspension of activity.
As health insurance exchanges go live, a recent survey of the uninsured reveals that 75 percent are unaware that the exchanges are about to open.