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Chutes & Ladders—Amwell names pharma vet to C-suite post; Independence picks up chief people officer


Ken Frazier is joining
General Catalystas its chairman of health assurance initiatives, a role the venture capital firm created to ramp up its investments in healthcare and pharma.
Frazier just recently stepped down from his previous role as CEO of Merck, where he spent nearly a decade encouraging the pharma giant to prioritize research and pursue novel vaccines and therapeutics.
At General Catalyst, he’ll be laying out strategy for the firm’s healthcare initiatives, fostering partnerships between healthcare and pharma and targeting health equity opportunities. He’ll also be in control of its $600 million Health Assurance Fund which was unveiled back in April. ....

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Profits for Pa. hospitals plunged during first COVID-19 wave


Profits for Pa. hospitals plunged during first COVID-19 wave
PennLive.com
1 hr ago
David Wenner, pennlive.com
Nearly 40% of Pennsylvania hospitals lost money in the 2020 fiscal year, which included the state’s first wave of COVID-19 cases. Another 18% had operating margins of 4% or less below the level hospitals say they need to make repairs and upgrades and sustain a financially healthy operation.
While COVID-19 put thousands of people in the hospital, it also triggered a state-imposed moratorium on elective surgeries, which are a major source of profit for hospitals.
Moreover, hospitals said many people put off medical care and avoided going to hospitals and doctors’ offices out of fear of coming into contact with COVID-19. ....

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