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Health Tech

6 Ways Providers Can Better Manage 3rd-Party Cybersecurity Risks

The Health3PT Initiative recently released recommendations on how providers can better address the cybersecurity risks linked to their third party reliance. Some of the group’s recommendations included ensuring that contract language ties financial terms to a vendor’s data management transparency and establishing metrics and reporting requirements for organization-wide vendor risks.

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A Deep-dive Into Specialty Pharma

A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.

Health Tech

Tax Breaks Far Outweigh Community Spending at Most Nonprofit Hospitals

A new report from Lown Institute examined the finances of 1,773 private nonprofit hospitals across the U.S. For more than three-quarters of these hospitals, their spending on charity care and community investment was less than the money they received in tax breaks in 2020. These combined deficits totaled $14.2 billion, which is enough money to relieve 18 million Americans’ medical debt or prevent 600 at-risk rural hospitals from closing, according to the report.