Growth in spending on five low-value health care services fell by 1.7% on average annually from 2014 to 2016, while spending on five high-value services climbed an annual average of 5.6% over the same period, according to an Altarum report. Average annual commercial insurance spending climbed by 6.6% during the study period.
The Transportation Security Administration is considering options for increasing enrollment in its Precheck program, which gives enrolled travelers access to expedited airport screening lanes where they don't have to take off their belts or shoes. Possibilities include a new fee structure and mobile enrollment.
Fourteen Democratic US senators last week urged the College Board to revise its report on college expenses to include costs such as books, transportation and supplies in addition to tuition and board to give a more realistic picture of cost. The lawmakers say the current system especially underestimates the true cost of community college.
The Federal Reserve's latest stress test has found the largest banks in the US would lose $410 billion under the most severe scenario but would still hold the regulatory minimum for capital. Results of a second, more rigorous test that assesses implementation of capital plans will be released Thursday.
Private equity firm L Catterton will pay about $650 million to acquire Del Frisco's Restaurant Group, which had been on the sale block most of this year. It is likely L Catterton will split Del Frisco's Double Eagle and Del Frisco's Grille from growth chains Barcelona Wine Bar and Bartaco, Jonathan Maze writes.
Health care leaders told the America's Health Insurance Plans' annual meeting that the US health care system needs disrupting, and Jefferson Health CEO Stephen Klasko said that will not happen unless there is a will to "break some real glass." Former Acting CMS Administrator Andy Slavitt said there must be less focus on revenue, and Highmark Executive VP Brian Setzer said health systems should focus on doing what they know best.
While many of the largest social media platforms have struggled with hate speech, offensive viral videos, privacy dilemmas and other pressing issues, advertisers at the recent Cannes Lions International Festival of Creativity remain loyal to the behemoths because of their massive promotional reach and targeting capabilities, write Joe Mayes and Angelina Rascouet. Yannick Bollore, Havas' CEO, said pulling spend from social platforms is "unthinkable," while WPP's Mark Read suggested some changes are needed.
Macy's launched its first 36 in-store Story locations two months ago, and the concept shops are proving to be a strong traffic driver for Macy's, which reported same-store sales growth of 0.7% in the first quarter of this year. The "Color Story" themed spaces include more than 400 items from brands including Levi's, MAC Cosmetics and Crayola, and they include Instagram-worthy design features such as a rainbow tunnel and Lite-Brite-inspired Story Wall.
HHS Secretary Alex Azar said the agency sent to the White House for review a proposal that would align prices paid by Medicare for certain drugs with those paid in other countries. The international pricing index was proposed in October by President Donald Trump as part of the administration's broader efforts to lower prescription drug prices.
AT&T will compete for streaming video customers by dipping into its huge library of content to provide more programming choices to consumers, said John Stankey, the CEO of AT&T's WarnerMedia arm who is charged with consolidating the telecom's various media pieces. Toward that end, AT&T put WarnerMedia Entertainment Chairman Bob Greenblatt in charge of Otter Media, the company's collection of digital services.
By 2025, the roofing market in the US and Canada will be worth $47.5 billion, up from $29.9 billion in 2017, an Allied Market Research report finds. Roofing membrane will likely continue to be the largest segment of the market, although metal roofing will gain ground.
US oil prices posted their best performance since December 2016, with West Texas Intermediate for August delivery surging 9.4% last week to settle at $57.43 per barrel on Friday, after President Donald Trump canceled a military strike on Iran. Daniel Yergin, vice-chairman at IHS Markit, says that "the market is poised between where it was before, which was just gloom," and "the possibility that demand will spike up because there will be some kind of settlement with China."
FreightWaves' first Shipper of Choice Awards recognized UPS for its commitment to efficiency and productivity. Winners were selected based on factors including flexibility, efficiency and providing driver-friendly facilities. UPS sales Vice President David Meyer attributed the award to "strong commitment to providing customers with reliable service, time-saving technology and a robust portfolio of logistics solutions."